CBIC celebrates International Customs Day with a focus on Efficiency, Security and Prosperity
Hon'ble Finance Minister Nirmala Sitharaman highlights Customs' role in Economic Security and Growth
The Central Board of Indirect Taxes and Customs (CBIC) celebrated International Customs Day at Nhava Sheva, Mumbai today, with the theme "Customs Delivering on its Commitment to Efficiency, Security, and Prosperity." The event was graced by the presence of Hon'ble Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman, Hon'ble Minister of State for Finance, Shri Pankaj Chaudhary, the Finance and Revenue Secretary and the Chairperson of CBIC, along with various industry stakeholders.
In her address, Hon'ble Finance Minister Smt. Nirmala Sitharaman underlined the essential role of Indian Customs in securing India's economic stability and fostering growth. The Finance Minister commended the Customs Department for its exceptional performance during the COVID-19 pandemic and expressed her confidence that such high standards would be maintained moving forward. Smt. Nirmala Sitharaman also called upon CBIC to take a leading role in the global Customs community within the World Customs Organization (WCO), to align with India's vision of Viksit Bharat 2047. The Minister of State for Finance, Shri Pankaj Chaudhary, acknowledged the critical role of Customs in maintaining India's economic security and in promoting manufacturing and exports. He stated that all efforts are being taken to improve Customs processes through multiple digital initiatives to aid in trade facilitation and promote India's economic growth. The Finance and Revenue Secretary highlighted significant advancements achieved by leveraging technology, which has led to reduced dwell time for cargo at ports and airports in India. He highlighted that the ministry has launched initiatives to remove bottlenecks for business in India and improve competitiveness of our industry. The Chairman, CBIC in his address highlighted the various digitisation initiatives undertaken by Indian Customs in recent times. The Chairman also emphasized the continuation of CBIC to undertake similar trade friendly initiatives to improve trade facilitation and ease of doing business.
During the celebration of International Customs Day, the Hon'ble Finance and Corporate Affairs Minister, Smt. Nirmala Sitharaman, inaugurated several significant digital initiatives aimed at enhancing trade facilitation and improving efficiency in Customs procedures. The first initiative, 'Ekal Anubandh', is an electronic E-bond and E-bank guarantee facility for taxpayers. This digital platform is designed to replace multiple manual bonds and bank guarantees with a single, streamlined Digital Bond, simplifying the process and reducing paperwork for taxpayers. Additionally, the Hon'ble FM inaugurated the Online Customs Refund facility, which aims to expedite the refund process. The system ensures fully digitized refunds with direct transfers to taxpayers' accounts, providing a quicker and more efficient refund mechanism. Another key initiative, VEGA (Vision for Expeditious Goods Release on Arrival), was launched to promote the swift movement of goods. This facility allows Authorized Economic Operator (AEO) entities to directly move their import cargo to their premises, where cargo examination will be carried out. This initiative is expected to significantly enhance the efficiency and speed of the import clearance process, benefiting trade stakeholders by reducing delays.
In recognition of their exceptional service, the WCO Certificates of Merit were awarded to 20 officers for their outstanding contributions to Customs. These officers were honored for their work in protecting India's borders against illicit activities, such as the smuggling of drugs, gold, red sanders and counterfeit goods, as well as for their contributions to tax policy, modernization, process digitization, export promotion and international cooperation.
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