Status: Under the new foreign trade policy, automatic ‘Status Holder’ certificates are being issued for simplified procedures, priority custom clearances on a self-declaration basis, and exemption from compulsory negotiation of documents through banks. Other key measures include faceless and paperless clearance exercises under ‘Turant customs’, Advance Authorisation Scheme, amendments to Custom Acts for better compliance, new schemes for better insurance benefits (NIRVIK), digital refund of electricity duties and fuel VAT on exported products (RoDTEP), and fund infusion to government bodies like the Export Credit Guarantee Corporation and the National Export Insurance Account (NEIA) trust. Consequently, the import release time has fallen by 47% (71 hrs) at Inland Container Depots, by 28% (44 hrs) at air cargo complexes and by 27% (85 hrs) at seaports since 2019. i ii iii iv v vi