US Postal Services and India Post sign pacts on electronic exchange of custom data
According to the official statement, an agreement has been signed by the Deputy Director General (international relations and global business) Prannoy Sharma and United States Postal Service’s Global Business Managing Director Robert H Raines Jr. The terms of agreements will make it possible to send and receive electronic data of international postal items prior to their physical arrival at the destination which would enable the swift custom clearance of the goods transacted through postal services.
The US, being a top export destination for India, with around 17 per cent share in the exchange of goods through postal channels, the pact will certainly enhance the postal services in terms of reliability, security and transparency in trade between two countries.
The prime objective of the 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.
“In 2019, around 20 percent of outbound EMS (Express Mail Service) and 30 per cent of letters and small packets transmitted by India Post were destined to the USA whereas 60 per cent of the parcels received by India Post originated from the USA,” read a statement.
