{"id":120219,"date":"2021-07-21T19:10:56","date_gmt":"2021-07-21T13:40:56","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=120219"},"modified":"2021-07-21T19:17:30","modified_gmt":"2021-07-21T13:47:30","slug":"india-improves-score-in-ease-of-cross-border-trade","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/india-improves-score-in-ease-of-cross-border-trade\/","title":{"rendered":"India improves score in ease of cross-border trade"},"content":{"rendered":"<p><strong>Source &#8211; <\/strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.livemint.com\/news\/india\/india-improves-score-in-ease-of-cross-border-trade-11626796203770.html\">Live Mint<\/a><\/span><\/p>\n<p><strong>Synopsis \u2013 <\/strong>India has improved its ease of cross border trade ranking, the overall score is higher than many OECD nations and the average of the EU.<\/p>\n<h5><strong>Introduction\u00a0<\/strong><\/h5>\n<ul>\n<li>India has made significant progress in the ease of cross-border trade as per the latest UN Global Survey on Digital and Sustainable Trade Facilitation, which studied 143 different economies over a period of two years,<\/li>\n<li>As per UN Survey, India\u2019s rank moved up from 78.49% in 2019 to 90.32% in 2021. India was among the best-performing country in the South and South-West Asia region and in the Asia Pacific region.\n<ul>\n<li>In South Asia, Bangladesh and Sri Lanka were far behind India with a score of 64.5% and 60.2%.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h5><strong>The key parameter in the UN survey<\/strong><\/h5>\n<p>The survey tracks 58 measures identified with trade facilitation which are seen as the global best practices, <strong>For example-<\/strong><\/p>\n<ul>\n<li>Electronic submission of declarations<\/li>\n<li>Electronic payment of duties\u00a0and fees<\/li>\n<li>Electronic application for refunds<\/li>\n<\/ul>\n<p><strong>What steps were taken by India to improve cross border trade?<\/strong><\/p>\n<ul>\n<li><strong>Faster clearance at customs<\/strong> such as\n<ul>\n<li>Electronic submission of custom declaration<\/li>\n<li>Electronic issuance of import and export permits.<\/li>\n<li>Facilitate processing of shipments without direct interaction with merchants.<\/li>\n<\/ul>\n<\/li>\n<li>Paperwork to be done within a specified time frame<\/li>\n<li>Constant checking of smuggling and tax evasion<\/li>\n<li>Facilitate trade in times of emergencies<\/li>\n<\/ul>\n<h5><strong>Way forward<\/strong><\/h5>\n<p>The improvement in cross-border trade facilitation is a promising indicator of post-pandemic economic recovery.<\/p>\n<ul>\n<li>The findings are particularly encouraging for policymakers who are attempting to increase the country&#8217;s appeal as a business destination<\/li>\n<\/ul>\n<p>This will also help India to grab a greater share in the global supply chain of goods and services<\/p>\n<p>Terms to know:<\/p>\n<ul>\n<li><a class=\"Hyperlink BCX0 SCXW50354089\" href=\"https:\/\/forumias.com\/blog\/oecd-2\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"TextRun Underlined BCX0 SCXW50354089\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun BCX0 SCXW50354089\" data-ccp-charstyle=\"Hyperlink\">OECD<\/span><\/span><\/a><span class=\"EOP BCX0 SCXW50354089\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Source &#8211; Live Mint Synopsis \u2013 India has improved its ease of cross border trade ranking, the overall score is higher than many OECD nations and the average of the EU. Introduction\u00a0 India has made significant progress in the ease of cross-border trade as per the latest UN Global Survey on Digital and Sustainable Trade&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/india-improves-score-in-ease-of-cross-border-trade\/\">Continue reading <span class=\"screen-reader-text\">India improves score in ease of cross-border trade<\/span><\/a><\/p>\n","protected":false},"author":10319,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[221,216,8550,3210,8537],"class_list":["post-120219","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-economy","tag-gs-paper-3","tag-india-improves-score-in-ease-of-cross-border-trade","tag-trade","tag-un-global-survey","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":1700774593,"cached_date":1704919627},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/120219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10319"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=120219"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/120219\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=120219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=120219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=120219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}