India Considers Cutting Transaction Costs for Exporters


To help local companies compete in a global market, India's government is finding ways to cut transaction fees for exporters, reports the Economic Times.

 

Quoting Jyotiraditya Scindia, minister of state for commerce and industry, the Times notes that the annual transaction cost is US$12 billion to US$15 billion, about 8% of the total export value. "If we are able to work on and reduce up to 30% of these costs, we will be rendering a huge benefit to the exporting community," Scindia stated at a function covered by the Times.
 

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