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Exporters & importers may get to pay fees using credit, debit cards

Exporters & importers may get to pay fees  using credit, debit cards
The Commerce Ministry has made life simpler for exporters and importers, who can start paying fees for different applications through debit or credit cards, a move aimed at improving conditions for doing business.

“We have got the approval of Controller General of Accounts now. I am hopeful that we will soon be allowing exporters and importers to pay fees through credit and debit cards,” Director General of Foreign Trade (DGFT) Parvir Kumar said here at a PHDCCI function.

He was spelling out the steps the ministry is taking to facilitate ease of doing business. The process would have kicked in from March 31, but got delayed due to some approval reasons. Currently, traders pay fees only manually or through Net banking. He also said that now new entrepreneurs, exporters and importers can apply online for issue of new IEC (import export code) online with no more visits to the Regional Authority’s office, upload the documents and pay the required fee through Net banking. As part of broader efforts, the ministry has already shortened the number of mandatory documents required for import and export of goods to three in each case.

The move will also lead to reduction in transaction costs and save time. Currently, some 10 documents are needed to fulfil the official obligations. The government is working on all possible fronts to take India's overall ranking in ease of doing business index to 50 in the next two years from the current 142.
PTI

PTI

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