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Know about the National Committee on Trade Facilitation (NCTF)

Know about the National Committee on Trade Facilitation NCTF  pardesi news 1471427207

The Indian Central Government has constituted a National Committee on Trade Facilitation (NCTF), to have a national-level body facilitating domestic co-ordination in trade.

The Indian Central Government has recently constituted a National Committee on Trade Facilitation (NCTF) to develop the pan-India road map for trade facilitation. It has been constituted in line with the World Trade Organisation (WTO’s) Trade Facilitation Agreement (TFA), which India also has ratified. The TFA aims at easing global customs rules for smoother and easier movement of goods across international borders.

According to the WTO's 2015 flagship World Trade Report, the implementation of the TFA has the potential to increase global merchandise exports by up to $1 trillion annually.

The NCTF, which is in line with the India government’s “Ease of Doing Business” initiatives, will be a national level body that will facilitate domestic co-ordination and implementation of TFA provisions. It will play lead role in developing the pan-India road map for trade facilitation. The dashboard on export and import will also enable small businesses to foray into global trade based on reliable information. The Committee on Trade Facilitation is meant to institutionalise co-ordination on trade facilitation between various central government departments, private players and state governments.  It will have three tier structures with main national committee for monitoring implementation of TFA.

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Patrick Callahan

Pardesi News Reporter

Pardesi News Reporter

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