Indian minister vows to cut red tape and lower export costs

EXPORTING freight from India costs shippers US$13 million to $15 billion annually, according to government estimates.


India's Minister of State for Commerce Jyotiraditya Scindia said that infrastructure and red-tape accounted for $6 billion of the total expense, prompting the authorities to pledge a lowering of transaction costs for exporters, reports London's International Freighting Weekly.


The minister believes that measures such as facilitating 24/7 customs clearance at the nation's major ports and ordering banks to extend lines of credit would lead to savings of more than $450 million a year, the report said.


It added that Delhi International Airport has already cut charges for screening courier shipments and express cargo.
(Source:http://www.schednet.com)