The government is working on single window clearance system for import and export documents for reducing the time and cost involved in the export and import of goods and will improve ease of doing business. This will help the traders to avoid running from one department to another for clearing their document as they can now lodge their clearance documents at the single window itself, where 9-10 departments will be integrated in this system
The government is developing the system wherein the traders will have to fill a single application form and that will travel to the concerned departments for no-objection certificate (NOC). Further, Federation of Indian Exporter Organizations (FIEO) said that this step will help in reducing the transaction cost of traders.
Declining for the seventh month in a row, country's exports dipped to $22.28 billion by 15.82% in June as global slowdown took place and also due to dip in crude oil prices which impacted shipments of petroleum products.