According to the Journal of Commerce, India’s Ministry of Finance has issued a circular announcing extension of 24/7 Customs clearance facility to 13 more airports in respect of all export goods and at 14 more sea ports in respect of specified import and export goods. This is an extension of a pilot plan that was initially put into practice in 2012 in a limited number of ports. Extensive documentation requirements and procedural delays have been major impediments to India’s trade growth, and the new Narendra Modi government- which assumed office in May 2014- has already initiated a series of policy and administrative reforms to boost the economy.
The expansion of round-the-clock scheme came in response to an announcement made by Union Finance Minister Arun Jaitley in his budget plan for fiscal year 2014-15.
The seaports now providing 24/7 clearance are: Chennai, Cochin, Ennore, Gopalpur, JNPT, Kakinada, Kandla, Kolkata, Mumbai, New Mangalore, Mormugao, Mundra, Okha, Paradip, Pipavav, Sikka, Tuticorin and Visakhapatnam.
The air complexes covered under round-the-clock scheme are: Ahmedabad, Amritsar, Bangalore, Chennai, Coimbatore, Cochin, Calicut, Delhi, Goa, Hyderabad, Indore, Jaipur, Kolkata, Mumbai, Nashik, Thiruvananthapuram and Visakhapatnam.
The ministry said “It is expected that an effective 24/7 customs clearance facility will greatly facilitate trade and reduce transaction costs”.
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