India Post, US Postal Service sign pact for the electronic exchange of customs
28 Oct 2020 10:15:29
New Delhi, 28 October: In a bid to enhance the ties between India and the US beyond the military level, the Department of Posts and United States Postal Service, have entered into an agreement for the electronic exchange of customs data related to postal shipments exchanged between the two countries.
The agreement will make it possible to transmit and receive electronic data of international postal items prior to their physical arrival at the destination and would enable customs clearance of postal items in advance in line with the evolving global postal framework.
The agreement was inked by Deputy Director General (International Relations and Global Business), Department of Posts, Prannoy Sharma, and Managing Director, Global Business of United States Postal Service Robert H. Raines Jr.
Department of Posts and United States Postal Service enter into an agreement for Electronic Exchange of Customs data related to postal shipments exchanged between the two countries.
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According to the statement released by the post, this will also improve the performance of postal services in terms of reliability, visibility, and security.
It is worth to be noted that the USA is the top export destination for India which is also reflected in the exchange of goods through the postal channel. In 2019, around 20 percent of outbound EMS and 30 percent of Letters and Small Packets transmitted by India Post were destined to the USA whereas 60 percent of the Parcels received by India Post were originated from the USA.
Moreover, Exchange of Electronic Advance Data EAD will be an important role in promoting mutual trade with emphasis on the exports from different parts of India to the US through the postal channel. As the USA is a major destination of MSME products, Gems and Jewelry, Pharmaceuticals, and other local products from India which will fulfill a major demand of the export industry to expedite customs clearances of export items.
While talking about the agreement the Ministry of Communications said, the primary objective that will be served by this agreement is to facilitate ease of exports for small and large exporters through postal channels from different parts of the country and will contribute towards making India an Export Hub for the world.