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.
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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.
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