India’s Ministry of Finance has amended the ‘Exports by Post’ Regulations 2018 respectively for allowing postal authorities to set up, operate and maintain the PBE (Postal Bill of Export) Automated System for filing of electronic declaration for export of goods through Post.
“As a means of achieving the export target set by the Govt. for the gem & jewellery sector, GJEPC has identified e-commerce as the key area. We were working with the Govt. to formulate conducive policies and regulations to start and enhance gem and jewellery e-commerce retail exports,” said Vipul Shah, Chairman of the GJEPC in a statement about the move.
The legislation allows for Postal exports through electronic and automated way thereby offering ease to exporters, a higher degree of transparency and reach for exporters in India. Further, the notification also provides for authorizing more post offices for accepting & booking export parcels which can be cleared at the linked Foreign Post Office.
Currently, for exporting a parcel through the postal system, an exporter or agent is required to visit one of 28 designated Foreign Post Offices in the country (FPOs) to file the export declaration and hand over the consignment for export. This posed a logistical problem for many diamond and gem exporters. Now, under the new system, the exporter will not be required to visit an FPO. Rather, the exporter will be able to file the Postal Bill of Export (PBE) online from home or office and deposit the parcel in a nearby local post office for export. The deposited export parcel will then be sorted and moved by the Department of Post (DoP) to an FPO for Customs clearance.
Photo Credit: GJEPC