Indian Government to Reduce Export Transaction Costs

9 February 2011 (Last Updated February 9th, 2011 18:30)

The Indian Government has announced 23 measures at eight ports in the country to reduce transaction costs on exports by INR21bn ($463.2m). The government expects that a cut in transaction costs through the initiatives will have a positive impact on the competitiveness of India's expor

The Indian Government has announced 23 measures at eight ports in the country to reduce transaction costs on exports by INR21bn ($463.2m).

The government expects that a cut in transaction costs through the initiatives will have a positive impact on the competitiveness of India’s exports.

In India, the transaction cost for exporters is around 7-8% of the total value of the cargo.

During the April-December period, the country’s outbound shipments grew by 29.5% to $164.7bn from $127.1bn in the same period the previous year, according to PTI.