GS Mains Model Question & Answer : Discuss the aim of National Trade Facilitation Action Plan by the Indian Govt? How does it will be beneficial for the Indian economy ? Comment

Q. Discuss the aim of National Trade Facilitation Action Plan by the Indian Govt? How does it will be beneficial for the Indian economy ? Comment

Model Answer:

Discuss the aim of National Trade Facilitation Action Plan by the Indian Govt? How does it will be beneficial for the Indian economy ?

Aims:

To align border procedures with international best practices and improve Ease of Doing Business.
It would not only ensure compliance with the Trade Facilitation Agreement (TFA) but would also give impetus to trade facilitation.
This Action Plan gives a time bound map, not only for implementing TFA, but also for India’s initiatives for trade facilitation and Ease of doing Business which goes beyond TFA.

Objectives of the action plan: Achieve improvement in ease of doing business by reduction in cargo release time and cost, transparent and predictable legal regime, move towards paperless regulatory environment and improved investment climate through better infrastructure.

Beneficial for the Indian economy :

Save timing from the beureaucratic hurdles.
Ease of procedures.
To help improve India;s competitiveness.
Global best practices and standards.

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