India Aims to be World's Top Trade Hub: Revenue Secretary

New Delhi, Nov 29 (PTI) India's vision is to become the world's most efficient and trusted trade hub by expanding participation of authorised economic operators (AEOs), integrated free zones, and promoting innovative policies, Revenue Secretary Sanjay Malhotra said on Friday.

"We aim to set new benchmarks in trade facilitation and global connectivity," Malhotra said while delivering the valedictory address at the Global AEO Conference here.

He further said technology and trust are two pillars of the revenue department.

India has been adopting technology both in direct and indirect tax administration, he said, adding that most of the services are online including appeals, refunds and payments.

"We actually generate billions and billions of bills of entry and shipping bills every year. To be able to do this without the help of technology is not possible," he said, adding, India aims to make all its ports automated.

Similarly, he said, "It is now our endeavour to be able to make all services at all ports and at all times, online and electronic."

Of 20 major ports, 17 are fully automated, he said.

Expanding the AEO programme in the last few years has been part of the trust-based strategy.

About 6,000 entities have been recognised under this AEO programme and 37 per cent of bills of entries are through these entities.