February 9, 2011

Indian Government to Reduce Export Transaction Costs

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

By cms admin

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.