The government has increased the validity of export registration certificates (ERC) and import registration certificates (IRC) to five years in order to make business more convenient.
Previously, the duration of validity for IRC and ERC was one year.
The decision was made at a Commerce Ministry meeting titled "Increasing duration of renewal of existing licence or registrations with a target to increase ease of business," according to a circular issued on Thursday.
Any trader can obtain a license for any time frame between one and five years, and the registration or renewal fees will be determined proportionally, the circular added.
