Customs clearance to be just a matter of hours: FM
FM expressed confidence that the process of customs clearance, often considered to be laboriously slow in India would improve and that clearances would be just a matter of hours.
By TNN |
BANGALORE: Union finance minister P Chidambaram expressed confidence that the process of customs clearance, often considered to be laboriously slow in India would improve and that clearances would be just a matter of hours, as is the case in many advanced nations.
Speaking at the inauguration of the World Customs Organisation WCO���s ICT conference, Chidambaram said that the Indian Customs department had, during the last 10 years, invested in an extensive automation programme that made it possible for trade to conduct a big part of its business with customs, either from their homes or offices.
���Customs is an essential instrument for the effective management of an economy. It has to ensure that international trade is not hampered by concerns of time or transaction costs and where customs can deliver services with minimal adverse impact on trade activities,��� he said.
P Chidambaram also noted that India was one of the oldest members of the WCO and said that the country had provided inputs in areas like standardisation and harmonisation of data requirements, which in turn helped in the development of the WCO customs data model.
Azim Premji, chairman of Wipro who was present at the inauguration recounting his company���s experience with the Customs department, said that India���s growth over the next few years would make the task of retaining and improving the levels of service imperative.
Later, at a media interaction, the FM said that in many countries the contribution of customs to government revenues was not substantial.
In the Indian context it is pegged at about 20%, with peak customs duty having fallen from a high of 100% to the current level of 12.5%.
Speaking at the inauguration of the World Customs Organisation WCO���s ICT conference, Chidambaram said that the Indian Customs department had, during the last 10 years, invested in an extensive automation programme that made it possible for trade to conduct a big part of its business with customs, either from their homes or offices.
���Customs is an essential instrument for the effective management of an economy. It has to ensure that international trade is not hampered by concerns of time or transaction costs and where customs can deliver services with minimal adverse impact on trade activities,��� he said.
P Chidambaram also noted that India was one of the oldest members of the WCO and said that the country had provided inputs in areas like standardisation and harmonisation of data requirements, which in turn helped in the development of the WCO customs data model.
Azim Premji, chairman of Wipro who was present at the inauguration recounting his company���s experience with the Customs department, said that India���s growth over the next few years would make the task of retaining and improving the levels of service imperative.
Later, at a media interaction, the FM said that in many countries the contribution of customs to government revenues was not substantial.
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In the Indian context it is pegged at about 20%, with peak customs duty having fallen from a high of 100% to the current level of 12.5%.
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