CBIC has issued several recent announcements to ease and make the logistics operations more efficient. The insurance cover that would accompany the stored customs cargo is reduced from the present ten days to five days. This cuts down costs and improves the cash cycle of CCSPs.
It has also streamlined licensing for CCSPs by phasing in alignment of their licenses with AEO status. CCSPs will be able to handle exempted cargo if they meet international standards for operations, meaning they will have easier operations and may not renew licenses for handling goods.
These are expected to facilitate businesses, reduce overheads and contribute positively to the logistics and supply chain industry efficiency in India, with more smooth and rapid cargo movement. In general, these are the government’s efforts towards easy facilitation of business processes in India.
