India, Belgium in talks for Green Channel at ports foreign trade, eco
India is in talks with Belgium to develop a "Green Channel" between two of the most important ports in the respective countries on the back of rising trade between the two nations.
The Green Channel is being planned at the Jawaharlal Nehru Port Trust (JNPT), which handles 60 per cent of the country's container cargo, and Port of Antwerp in Belgium, the fifth largest port in the world. Once the Green Channel agreement is signed, then the customs' clearance of one country would be honoured by the other country that would result in quick clearance of cargo.
"We clear any cargo in a couple of hours at Port of Antwerp. Whereas if it goes to a port in the UK, it will take eight days to clear," Port of Antwerp India representative Raj Khalid said. India exports steel, granites, strawberries, chemicals, textile and special tyres to Europe through Port of Antwerp and imports steel and textile machinery.
"India's non-diamond cargo to Port of Antwerp has gone up by 40 per cent," Khalid said. The idea of developing a Green Channel was first mooted by India in 2006.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.