Examining the Influence of Trade Facilitation Measures on India's Trade Costs and Operational Efficiency
Dr. K. Amareswara Rao
Lecturer in Commerce, M.S.N. Degree College, Kakinada (Rural), Andhra Pradesh.
Dr. J. Ratnaprabhakar
Associate Professor of Commerce, Tara Government College (A), Sangareddy, Telangana.
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http://doi.org/10.37648/ijps.v18i01.018
Abstract
The facilitation of trade, which involves the streamlining of customs, the automation of procedures, and the reduction of documentation, is essential to the global competitiveness and economic growth of India, particularly with respect to the "Make in India" program. This study investigates the trade facilitation reforms that India has implemented, with a focus on the considerable success that has been made in areas such as the SWIFT platform and electronic governance. As a result of these reforms, the average amount of time that cargo has to be released has been decreased (for example, maritime cargo has gone from 14 days to less than 48 hours). There are still obstacles to overcome, however, such as the existence of gaps in the implementation of paperless commerce and administrative bottlenecks, including delayed payments of duties, which are preventing the full realization of lower trade costs and operational efficiency.
Keywords:
competitiveness and economic growth; electronic governance; administrative bottlenecks; operational efficiency
References
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