The task force constituted by the Centre to suggest measures for reducing transaction costs in the export sector is expected to submit its report soon, Anup K. Pujari, Director General of Foreign Trade (DGFT), said on Tuesday.
Addressing reporters on the sidelines of an interactive session with exporters under the auspices of the Federation of Indian Export Organisations (FIEO), Mr. Pujari said the task force headed by Minister of State for Commerce Jyotiraditya Scindia was specifically looking at lowering transaction costs through simplification of procedures and transparency.
The DGFT is also looking at reducing paper work for issuing Export Obligation Discharge Certificates, which was required for advance licences and Export Promotion Capital Goods schemes, Mr. Pujari said.
“We are in consultations with the exporter community on moving to a trust-based system with some form of self-certification or certification by a chartered accountant,” he said.
The DGFT, which has started equipping upper layers of its officers with digital signatures, is also considering electronic transfer of certificates. The idea will be tabled at consultations with stakeholders, including officials of Customs, Ports and banks.
The first meeting is likely in Tuticorin later this year, he said.
Without going into specifics, Mr. Pujari said the DGFT had been convening meetings with export councils as a pre-Budget exercise.
Ramu S. Deora, FIEO president said exports would cross the $200 billion target set for the current fiscal, pointing to the 36.9 per cent growth in exports during December. However, the FIEO has sought better facilitation for exporters to realise potential.