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| Anup Pujari in Calcutta on Monday. Picture by Kishor Roy Chowdhury |
Calcutta, Sept. 24: The Centre is exploring the possibility of reducing the time period of advance licences issued to traders for the import of materials required to manufacture export items. The move is expected to improve exports.
The government gives advance licences under the Duty Exemption Scheme, enabling exporters to bring in inputs for export products without having to pay the basic customs duty. The licence period is 18 months and issued on the basis of orders received or anticipated. The products have to be exported within 36 months.
However, North Block feels there is a long gap between imports and exports against the issue of advance licences. It is in favour of reducing the licence period to 12 months from 18 months.
Anup Pujari, the director-general of foreign trade, today said, “If we have our way, we would like to make this (advance licence) 12 months, which is good for the exporting community.”
“We have been criticised by the exporting community. I want to ask which exporter among you takes 36 months to execute an order?” Pujari said at an event organised by the Indian Chamber of Commerce here today.
Pujari added that traders who import perishable commodities such as silk and tea leaves should look to fast-track their exports.
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