Budget 2021: Facility of bulk clearance for ecommerce imports, exports expected
New Delhi, Jan 28: The Indian government in the Union Budget next week is expected to announce measures such as extending the facility of bulk clearance for ecommerce imports and exports with a view to promoting the growth of this fast-growing segment in the country, sources said.
They said as there is a multi-fold increase in the ecommerce sector in the country, a significant volume of products is imported into and exported out of India through this platform, and there is a need to find a balance between control and facilitation for the sector.
Presently,
importers
and
exporters
are
required
to
submit
individual/separate
clearance
documents
for
each
package
with
the
Indian
customs
department,
which
adds
cost
for
traders
to
conduct
business
through
ecommerce.
Finance
Minister
Nirmala
Sitharaman
will
unveil
the
Budget
for
2021-22
on
February
1.
According
to
exporters,
easing
of
processes
for
the
sector
would
further
help
in
boosting
the
country's
outbound
shipments.
A
leather
exporter
said
the
move
if
announced
in
the
Budget,
would
help
promote
exports
through
ecommerce
medium.
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