Government moves to help reduce transaction cost for exporters by Rs2,100 crore: Scindia

The government has taken action on 21 of the 44 issues that have been identified as affecting the competitiveness of Indian exports and is addressing two more, thereby helping Indian exporters save a total Rs2,100 crore in transaction costs.

A task force headed by minister of state for commerce and industry Jyotiraditya Scindia, had identified 44 issues that inflate transaction cost for Indian exporters and thereby affect their competitiveness.

Speaking at the occasion of the launch of the report of the task force, Scindia said the issues have been taken up with the relevant ministries and after consultations with them, it was agreed to implement 32 of these issues.

"Of these, 21 issues have been implemented and another 2 are likely to be implemented in a couple of months. The remaining issues are under the process of examination and consultations for implementation, he said.

Listing these measures, Scindia said the government has set up five major regional pant quarantine stations fully equipped to prevent attacks by insects, fungus or other pest that may be destructive to crops, to facilitate safe global trading in agriculture an reduce transaction cost for exporters. 

The plant quarantine services at international airports in Chennai and Mumbai will now be available round the clock. Also, the issuances of phytosanitary certificate necessary for trading will be expedited, he said.