Ease Of Import Cannot Be Achieved With Procedural Simplification Alone, Substantive Changes Needed
12 February 2021
Kochhar & Co.
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As part of the China backlash, the Japanese Government, like
many others, is paying millions of dollars to Companies to move
their factories outside China for the diversification of supply
chains. Invest India, a non-profit venture under the Ministry of
Commerce and Industry, points out that such diversification and
shifting of Japanese firms away from China is estimated to create a
$730 billion economic opportunity for developing geographies like
ASEAN and India.
India is keen to seize the opportunity to become the factory of
the world, for which easy availability of imported inputs is a sine
qua non. Under its flagship 'Turant Customs' program, which
can be roughly translated to 'Immediate Customs', aimed at
providing a Faceless, Contactless and Paperless' Customs
administration. India has recently introduced a number of
initiatives that leverage technology for speedy clearances, and to
reduce physical contact in the prevailing pandemic situation.
However, despite the procedural simplification, significant
obstacles to smooth importation remain.
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