What is SWIFT? How does it help to facilitate trade for importers / exporters?


SWIFT? It stands for SINGLE WINDOW INTERFACE FOR FACILITATING TRADE. The government had taken up initiatives in favour of the businessmen in the business like “Ease Of Doing Business”. The government of india have implemented the Single Window Project to facilitate the Trading across Borders in India. The importers and exporters were given the facility to submit their clearance documents at a single point. If there are any permissions required, the trader can get them online and not go to the agencies physically, its that easy.. This is how the interface introduced reduces the interface time with the government or other agencies, cost of doing business and processing time, Major projects have already been executed by CBEC to automate the customs clearance process and provide all the data with all the agencies in the business. The objectives of SWIFT are under the safe hands with the key programs of the Government named as ‘Digital India’ and ‘Make in India’

This interface not only helps the Importers and exporters but also the people working at the docks and other agencies as they have everything listed online online and can access with permission anytime they want. The importers and exporters go through a lot of paperwork and permission problems, but SWIFT helps them get out of every situation and makes it much easier. They don't have to run anywhere for permissions or anything else because they have everything at their fingertips at a single point online. It also makes all the work faster for everyone right from the exporter, labour at docks to the importer at the destined country. The system of checking has also changed as all the consignment will be listed online and the agencies can check and confirm what the consignment contains

This System implements the trade facilitation measure for goods clearance at the country’s entry and exit. This system also makes it efficient for the importers and exporters by saving them large amounts of money and further unnatural delays. To make the process easier and update it time to time, the participating government and other agencies are required to publish standard operating timelines and goals. The system will reduce the time taken to clear the consignments with other government agencies by reducing the human interaction and by increasing the transparency in the system. They are still working on how we can eliminate hard copy documentation and take it all digitally which will be signed electronic versions of the hard copy.

Just like the government implemented SWIFT, GoComet has a platform where people can just log in and get various quotes depending on their shipments and consignments according to your convenience. The quotes have all the charges included and there will be no hidden costs for you to worry about. Here you can also track your shipment online and manage it however you want also get live updates about your shipment throughout. Based on your flexibility for time and cost, you are provided with the best option for your shipment. You can also compare various quotes and choose the one that fits your needs. So what are you waiting for? Sign up with GoComet now!