Govt issues draft notification to bring iron, steel sectors under CCTS

The government is taking steps to expand the Coverage of the Customs Modernisation Scheme (CCTS) to include the iron and steel sectors, following its 2023 introduction for aluminium, cement, petroleum refineries, and textiles. This move aims to streamline customs procedures, reduce compliance burdens, and boost trade efficiency across these critical industries. It's a significant development as it could enhance competitiveness and growth within India's manufacturing sector, potentially leading to lower costs and better international trade relations.