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The Customs Department has decided to introduce the risk management system (RMS) in exports as a trade facilitation measure. India has been having RMS in imports for some years now.
RMS in exports will be initially implemented in Customs locations where electronic data interchange (EDI) is operational, a Finance Ministry official said.
The system is scheduled for implementation from July 15. To begin with, it will be launched at ICD Mulund and ICD Patparganj.
Cargo clearance
RMS in exports will enable low risk consignments to be cleared based on the self-assessment of declaration by exporters.
By expediting the clearance of compliant export cargo, the system will contribute to reduction in dwell time. This will help reduce the transaction cost and make businesses internationally competitive, official sources said.
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