The government is committed to completely revamp the export sector and reduce 20 to 30% of the export bill on account of transaction costs. Speaking at a National Seminar on Transaction Costs held at New Delhi today, Union Minister of State for Commerce and Industry, Mr Jyotiraditya Scindia said that his ministry aims to introduce procedural simplifications and transparency in the system and reduce transaction costs at every level of export. Mr Scindia who is the Chairman of the Task Force on Transaction Costs announced that the first report on the findings of this Task Force will be out by June this year.<br/>