India and MERCOSUR agree to adopt electronic certificates of origin
Business
India and the MERCOSUR bloc (that's Argentina, Brazil, Paraguay, and Uruguay) just agreed to swap out paper for digital certificates of origin in their trade deal.
This means less paperwork, faster processing, and lower costs when these countries trade with each other.
The change will kick in once both sides finish their internal checks and notify each other of the same.
India MERCOSUR electronic certificates deemed official
With this update, electronic certificates will be as official as the old paper ones, just more efficient.
It's all about making trade smoother and boosting economic ties between India and South America.
Since 2009, both sides have already been enjoying reduced tariffs on hundreds of products; now things should move even more quickly.