Speaking at a webinar here , Chairman of CII Western region Subcommittee on International Trade & Investment and MD, Continental Carriers, Vaibhav Vohra, also said that the wider adoption of such initiatives can significantly improve efficiency and reduce transaction costs.
The webinar focusing on key customs facilitation measures aimed at easing trade and improving compliances, was hosted by CII in association with Directorate General of Taxpayer Services, MZU, Mumbai.
Discussions during the webinar centred mainly around the Duty Deferment Facility, which helps ease working capital pressures for importers.
“The focus is on making processes simpler and more predictable. Continued outreach and dialogue with industry are essential to ensure these reforms deliver tangible benefits on the ground,” said Sumit Kumar, Principal Additional Director General at Directorate General of Taxpayer Services, MZU, Mumbai.
The session saw participation from importers, exporters and trade professionals, with discussions also touching on implementation challenges and the need for greater awareness of available schemes.