Trust-based system to reduce export documentation: government official

Chennai Jan 25: A system based on trust between the government and exporters would reduce the voluminous paper work as well as the transaction costs, a top government official said here today."An attempt is being made in that director with consultations are on with the trade community. It will be possible for government and the exporters to move towards a trust based system," Anup K. Pujari, director general of foreign trade, told reporters here after his interaction with the members of Federation of Indian Export Organisation (FIEO).According to FIEO president Ramu S. Deora, exporters have to file several documents for redemption of advance authorisation cases with licensing and customs authorities resulting in dual work and increase in costs.Earlier at the interactive session, Deora said exporters were forced to sign individual bonds with various authorities like customs, central excise, service tax for each ship and a single bond should suffice as they are all electronically connected. (IANS)

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