Unravelling global trends of logistics
Shantanu Bhadkamkar, Chairman, International Federation of Customs Brokers Associations, shares his opinion on the increased focus on environment, trade facilitation, and encouraging manufacturing and manufacturers.
How do you find the future of custom broking in India?
I am bullish about the future of customs broking business in India owing to pro-industry policies adopted by the present government that reflected in the massive improvement in ‘ease of doing business’ and giving infrastructure status to logistics industry.While former two trends seem in contradiction with one another, it is a reality of a global economy, as it is not growing as fast as a decade ago. Hence, the third trend i.e. protection of domestic industry is being done in a subtle manner. It is an undercurrent, something you don’t see on the surface. All these trends affect India in the same manner as they affect rest of the world. The environmental issues and the country’s commitment on environmental protection has affected sectors such as mining, energy, manufacturing, transport etc. The countries are therefore, learning to be compliant in these matters along with security and safety, and yet become competitive in the global marketplace.
Please throw some light on WTO Trade Facilitation.
The trade facilitation agreement puts great emphasis on facilitation of movement of goods across borders. Hence, the Bali package goes beyond tariff barriers and quantitative restrictions for ensuring that all barriers for a free market access are overcome.
The government of India is taking huge efforts in facilitating improvement in ‘ease of doing business’ and the targets set by the Prime Minister is ranking better than 50.
Considering that this journey started from the point where our ranking was 142, current ranking of 100 is an excellent achievement in three years. The government needs to strengthen each segment of economy, particularly, the MSME sector by constructive reforms. We should think beyond financial support’s aspect, to strengthen trade facilitation supported by a smooth logistics & supply chain system removing operational and financial blockages.
I am bullish about the future of customs broking business in India owing to pro-industry policies adopted by the present government