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India Post, US Postal Service Inked MoU for Electronic Exchange of Customs Data

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India Post, US Postal Service sign agreement for electronic exchange of customs dataOn October 27, 2020, Department of Posts (DoP), Government of India (India Post) and United States Postal Service (USPS) have inked Memorandum of Understanding (MoU) for Electronic Exchange of Customs data related to postal shipments.The MoU was signed on the lines of Third India- USA 2+2 Ministerial dialogue held in New Delhi.

  • This MoU enables Exchange of Electronic Advance Data (EAD)e. transmitting and receiving of electronic data of international postal items prior to their physical arrival at the destination resulting in customs clearance of postal items in advance.
  • It will also facilitate ‘ease of exports’ for small and large exporters through postal channels and will contribute towards making India an Export Hub for the world.
  • The agreement was signed by Prannoy Sharma, Deputy Director General (International Relations & Global Business), Department of Posts, and Robert H. Raines Jr., Managing Director, Global Business of USPS.

India-US Postal Relation:

–USA is the top export destination for India (17%) including exchange of goods through postal channels.

  • USA is a major destination of Micro, Small & Medium Enterprise (MSME) products, Gems &Jewelry, Pharmaceuticals and other local products from India.

–In 2019, around 20% of outbound Express Mail Service (EMS) and 30% of Letters & Small Packets transmitted by India Post were destined to the USA whereas 60% of the Parcels received by India Post were originated from the USA.

Recent Related News:

i.On September 10, 2020, Union Minister of State for Communications, Sanjay Shamrao Dhotre has launched a scheme named “Five Star Villages” along with Department of Post to ensure universal coverage of flagship postal schemes in rural areas.

ii.On August 15, 2020 India Post has issued 5 Commemorative Postage Stamps namely: Historic City of Ahmedabad- Sarkhej Roza, Churches and Convents of Goa- Church of  Bom Jesus, Group of Monuments at Pattadakal, Khajuraho Group of Monuments Javeri Temple and Qutb Minar its Monuments, Delhi.

About United States (US):
Capital– Washington, D.C.
Currency– United States Dollar (USD)
President– Donald John Trump