NEW DELHI: Today, India Post and United States Postal Service (USPS) have signed an agreement for the Electronic Exchange of Customs data. The agreement is related to postal shipments exchanged between the two countries. Reportedly, the US is the highest export destination for India (~17%). This also includes the exchange of goods through the postal challenge.
As per the data of 2019, around 20 percent of outbound EMS and 30 percent of letters, and small packets transmitted by India Post were destined to the USA. On the other hand, around 60 percent of the parcels received by India Post was from the USA. However, the main purpose of the agreement is to facilitate ease of exports for small, and large exporters. This can be achieved only through postal channels. “The agreement would in return help to make India an Export Hub for the work,” mentioned the officials.
The agreement will also promote mutual trade. It is said to highlight the exports from different parts of India to the USA through postal challenges. “This will fulfil a huge demand for the export industry to expedite customs clearances of export items,” said the officials. The treaty would also help to transmit and receive electronic data of international postal items before their physical arrival at the destination. They mentioned, “This will improve the performance of postal services in terms of reliability, visibility,y, and security.”
The agreement was signed by Mr Prannoy Sharma, Deputy Director General (International Relations & Global Business), Department of Posts, Government of Indi, and Mr Robert H. Raines Jr., Managing Director, Global Business of United States Postal Service.