<h1>Finance Minister Launches IT-Based Risk Management System for Faster Customs Clearance, Boosting India's Export Competitiveness.</h1> The Finance Minister inaugurated the nationwide rollout of an IT-based Risk Management System (RMS) for Customs clearance of export goods, aiming to reduce processing time from days to hours. The RMS, a trust-based system, encourages accurate declarations by traders and is globally endorsed, including by the WTO. Initially implemented at 11 Customs stations, it will expand to all EDI Customs stations by year-end. The system is expected to facilitate trade by speeding up clearances and lowering transaction costs, thus boosting the global competitiveness of Indian exports. Compliance with legal requirements by traders is essential for its success.