Calcutta, May 8: The Federation of Indian Export Organisations (Fieo) has estimated that foreign exchange worth Rs 720 crore can be saved every year if the Centre eases the rules for exporters to obtain landing certificates.

A landing certificate, issued by a shipping line, is a proof of the landing of goods exported from India to another country.

This certificate is required to claim export benefits under the Merchandise Exports from India Scheme (MEIS).

"The shipping lines charge around Rs 2,000 per shipping bill to issue a landing certificate. This increases the transaction cost for Indian exporters and hurt their competitiveness. According to our estimate, around six lakh shipping bills are filed with the customs every month," said Ajay Sahai, director-general and CEO of Fieo.

"If half of these bills are for MEIS benefits, then around Rs 60 crore is spent by the exporting community per month to get landing certificates, which translates into Rs 720 crore a year. This amount goes to the foreign shipping lines and thus, remitted out of the country," Sahai said.

"Fieo has suggested (to the centre) that MEIS benefits should be given for all countries instead of specified countries so that the requirement of a landing certificate is dispensed with. Once the benefit is available for all countries, the Centre may not be interested to know where the goods have landed. We have also suggested that the landing certificate, which is available at the website of shipping companies, may be downloaded and submitted under the signature of exporters," Sahai said.

The exporters' association has urged the government to consider steps to contain a further slide in exports.

Exports have dipped 5.47 per cent to $22.71 billion in March with almost all the major sectors, including engineering goods, petroleum products, leather and leather products, gems and jewellery, drug and pharmaceuticals, organic and inorganic chemicals, showing a declining trend.