Transaction Cost - Constitution of 2nd Task Force
PRESENTING the Annual Supplement 2013-14 to the Foreign Trade Policy on 18.04.2013 , the Commerce Minister Anand Sharma said,
It may be recalled that we had constituted a Committee for addressing the issue of high transaction costs and the measures which were taken had resulted in reduction of transaction cost of Rs. 2100 crore. Subsequently, some more measures were taken which have further reduced transaction cost by Rs. 395 crore. I am happy to announce constitution of 2nd Task Force on Transaction Costs which will submit its report in a 6-months period .
In pursuance of the announcement made by the Commerce Minister on 18.4.2013, the Second Task Force on Transaction Cost has been constituted under the Chairmanship of Director General of Foreign Trade under following terms and reference:
1.To identify reasons for high transaction cost in exports.
2.To identify areas, where Indian exporters face administrative impediments that lead to increase in transaction cost.
3.Compare procedural complexities in exports between India and its major competitors.
4. Suggest guidelines/ steps for removal of procedural complexities drawing from the global best practices.
5. Suggest guidelines/ steps to move towards transparent and increasingly paperless processing through digital platform.
All stakeholders, administrative Ministries/Departments of Government of India/ State Governments and Trade & Industry Bodies are invited to send suggestions for consideration of the task force at transactioncost@nic.in. Suggestions can be sent preferably by 17.6.2013.
DGFT Trade Notice No. 02/2013, Dated: May 20, 2013