• Ministry exempts domestic cargo from Customs documentation

    As India proved to be the fastest growing larger economy in the world, investors and traders have great opportunity to expand their business and grab the market, according to K N Raghavan, Customs Commissioner, Kochi.

    To promote more sea transportation, domestic cargo is fully exempted from Customs documentation by the Shipping Ministry. Cargo vessels moving through the coastal berths need not keep Customs documents, according to a govenrment circular.

    Instead the details can be recorded in the advice book kept in the vessel.

    He was speaking at a seminar on promoting trade and investments with BRICS countries by FICCI and BRICS Council jointly in cooperation with Exim Bank and State Bank of India.

    Speaking on the occasion, N Shankar, Executive Director, Exim Bank, expressed hope that the upcoming BRICS Summit at Goa in September would boost the trade between BRICS countries,

    R Muthuraj, Joint Director, Foreign Trade, Kochi, spoke on the various aspects for promoting trade between BRICS countries from the prospective of DGFT.

    K B Rajan, President, Indian Chamber of Commerce and Industry, Alex Nainan, Vice-President, Seafood Exporters’ Association of India, Kerala Region, K K Pillai, Cochin Exports Processing Zone Industries Association, and Savio Mathew, Head, FICCI Kerala State Council, spoke. Peter Holland Jersey

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