Artificial intelligence (AI) is poised to transform many fields and operations, one of them being cross-border trade. Today, AI and ML technologies are streamlining operations, increasing transparency, and improving decision-making in Exim operations. Across industries and geographies, AI applications are helping businesses reduce delays, cut costs, navigate complex compliance requirements, and optimize supply chains. In...
India’s cross-border trade operations are worth hundreds of billions of dollars annually. As per official figures from the Ministry of Commerce and Industry, between April and December 2024, India’s exports were valued at $603 Billion, and imports at about $684 Billion. To streamline and monitor the considerable flow of trade transactions, the Reserve Bank of...
Ask the CFO of any company engaged in cross-border trade what keeps them up at night, and chances are, they’ll mention the inherent risks that global trade involves. International trade operations have to bear the brunt of market and currency fluctuations, geopolitical issues and crises, and overall uncertainty in the international trade partner. To add...
The Harmonized System of Nomenclature (HSN) is the backbone of international trade classification. Globally, these codes categorize goods uniquely to ease their movement across borders. For Indian companies, eight-digit HSN codes are vital in Exim documentation and tax compliance. Getting these codes right is not just critical but also a strategic practice for optimizing costs...