FinMin working to fast-track export cargoes clearance

New Delhi: The Union Finance Ministry is working to integrate the Customs systems with other regulatory agencies to ensure faster clearances of export consignments, a senior official said on Thursday.

Central Board of Indirect Taxes and Customs (CBIC) Chairman Vivek Johri said the department is working on web registration of exports, which would reduce the average release time of consignments/cargoes from ports and airports. "You are familiar with single window in import side. We are trying to introduce something similar in the export side. There are export consignments that require regulatory intervention, say drug controller, other agencies.

"We are trying to integrate Customs ICEGATE with these agencies. This will further compress time taken to release export consignments," he added. He said the average release time, which is measured by the time of arrival of goods to the port and their actual departure, of export cargo has been halved. The Trade Facilitation Action Plan, which ends in 2023, has set a target of average release time of 24 hours and 12 hours for exports through sea port and airport, respectively. "There is need for further compression in release time taken by regulatory agencies... The target is quite steep... We are very consciously working on reducing the average release time," Johri said while addressing the CII National Exports Summit.