Customs free borders between BBIN to cut down time, cost for exporters and importers: FIEO
New Delhi, Sep 7 (KNN) Customs free borders for Bangladesh, Bhutan, India and Nepal will cut down the transition time as well as the cost for the customers thus boosting ease of doing business, said an expert.
Ajay Sahai, Director General of Federation of Indian Exporters Organisation told KNN that Motor Vehicles Agreement (MVA) for the Regulation of Passenger and Cargo Vehicular Traffic (MVA) which was signed between Bangladesh, Bhutan, India and Nepal (BBIN) will reduce the transaction time and cost of the customer.
On Tuesday, truck carrying goods from Bangladesh rolled into a customs depot in New Delhi for which the customs clearance is being done only at ICD, Patparganj. Adopting a cutting edge technology, the vehicle was affixed with GPS tracking equipment at Petrapole and the cargo was sealed electronically.
DG FIEO said, “Earlier the goods used to be shifted to other country’s truck at the border but now they will get a thorough transit which means that India’s trucks or other countries trucks can cross the borders.”
He said that it will reduce the time and logistic cost both for the buyer as well as seller.
“GPS is a good weapon to track trucks. It will assure the security and customers would know the location of the truck,” he added.
Sahai said these new trends aim to boost ease of doing business and also envisages doing away with the time consuming and costly process of trans-shipment of goods from one country’s truck to another at international borders.
“A new chapter in Customs Cooperation between India, Bangladesh, Bhutan and Nepal was opened today i.e. 5th September 2016, as a cargo laden truck of Bangladesh of readymade garments, imported by Marks and Spencer India, rolled into Customs Inland Container Depot, Patparganj, Delhi,” the Ministry of Finance had said in a statement on Monday.
Though the vehicle entered India through Petrapole Land Customs Station, the customs clearance is being done at ICD, Patparganj. The vehicle was affixed with GPS tracking equipment at Petrapole and the cargo was sealed electronically.
This helped in live tracking of the vehicle as it moved from Petrapole to New Delhi, with an alert mechanism to prevent any tampering of the cargo container. This also marks the first step by Indian Customs at adopting cutting edge technology in facilitating and securing transhipment of import cargo. (KNN Bureau)