NATIONAL TIME RELEASE STUDY (NTRS) 2023

Copyright infringement not intended

Context: The Central Board of Indirect Taxes and Customs (CBIC) has recently released the National Time Release Study (NTRS) 2023 report, which measures the efficiency and effectiveness of India's cross-border trade processes.

Details

• The report is based on a survey of over 10,000 import and export consignments that were cleared by the customs authorities in various ports, airports and land border stations across the country.

Key Findings

• The NTRS 2023 report reveals that India has made significant improvements in reducing the time and cost involved in international trade transactions, as well as enhancing the transparency and predictability of customs procedures.
• The average time taken for clearance of goods by customs has reduced by 24% from 58 hours in 2020 to 44 hours in 2023. The average cost per consignment has also decreased by 18% from Rs. 16,500 in 2020 to Rs. 13,500 in 2023.

The report also highlights the best practices and innovations adopted by the CBIC to facilitate trade and improve compliance. Some of these include:

• The introduction of a single window system for integrated clearance of goods by various regulatory agencies.
• The implementation of a risk-based management system for selective examination and inspection of consignments.
• The use of advanced technologies such as artificial intelligence, blockchain and data analytics for enhancing data quality and decision-making.
• The promotion of paperless and contactless trade through digital platforms such as e-Sanchit, e-Invoice and e-Way Bill.
• The simplification and rationalization of tariff and non-tariff measures.
• The strengthening of cooperation and coordination with other stakeholders such as trade associations, port authorities and logistics service providers

The NTRS 2023 report is a testimony to the commitment and efforts of the CBIC to create a conducive environment for trade facilitation and ease of doing business in India. The report also provides valuable insights and recommendations for further improving the performance and competitiveness of India's trade sector. The CBIC welcomes feedback and suggestions from all stakeholders on the report and its findings.

https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1932587