The finance minister proposed the implementation of Indian Customs Single Window Project for fast tracking the process of getting customs clearance for imports and exports and for getting online approval, if any required, in the Indian Union Budget 2014-2015.

While speaking to Fibre2fashion correspondent Mary Christine Joy, Mr. Manish Mandhana, Joint Managing Director, Being Human says, "I feel that the online approval system will facilitate and modernize the existent scenario and will make the situation better."

"Implementation of Indian Customs Single Window Project providing facilitation of clearance of documents at a single point would really help exporters and importers. This would be an effective step to reduce transaction costs," he explains.

On a further note, Anurag Rajpal, CEO and Director, American Swan Brand states, "Under this, importers and exporters would lodge their clearance documents at a single point only. Required permissions from other regulatory agencies, if any, would be obtained online without the trader having to approach these agencies."

This will reduce interface with governmental agencies, dwell time and the cost of doing business, according to him.

"The online approval system will in a kind modernize the Indian textile trade," he concludes.

Fibre2Fashion News Desk - India