Revolutionizing Trade: The New HSN Code Mapping Initiative

The government has unveiled a comprehensive guidebook designed to map 12,167 HSN codes across 31 ministries and departments, aiming to promote a data-driven approach to streamline regulatory processes and improve ease of doing business, according to a statement released on Sunday.

In international trade context, each product is categorized using an HSN (Harmonised System of Nomenclature) Code, which aids in the systematic classification of goods worldwide. This initiative is poised to support more effective trade agreement negotiations in alignment with national economic priorities.

The commerce and industry ministry stated that this facilitation of HSN Code assignment will align specific codes with relevant ministries or departments, streamlining regulatory processes. This move addresses ongoing challenges in trade negotiations and industry concerns about code misclassification, further supporting import substitution efforts.

(With inputs from agencies.)