Finance Minister Arun Jaitley released the National Trade Facilitation Action Plan (NTFAP) on 20 July 2017. The Action Plan aims to transform cross-border clearance ecosystem through efficient, transparent, risk-based, co-ordinated, digital, seamless and technology driven procedures which are supported by advanced seaports, airports, and land borders.
The NTFAP aims to achieve improvement in ease of doing business by reducing cargo release time and cost, promote paperless regulatory environment, transparent and predictable legal regime and improved investment climate through better infrastructure. With the release of this Action Plan 20 July 2017, we look forward to ensuring compliance with the TFA and also, impetus to trade facilitation,” Jaitley said while releasing the Action Plan.
NTFAP also awards specific responsibilities to all regulatory agencies like Customs, FSSAI, Drug Controller, Plant Quarantine, DGFT, etc to be completed in a time-bound manner. 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.
Earlier, a National Committee on Trade Facilitation (NCTF) headed by the Cabinet Secretary was constituted comprising of stakeholders from the Government and the private sectors including trade community. The NCTF has adopted 76 point National Trade Facilitation Action Plan (NTFAP) which is a reflection of the Government’s commitment to implement the Trade Facilitation Agreement (TFA).