India has reduced the number of mandatory documents required for import and export of goods to three document each. Currently, around 10 documents are needed to fulfill the official obligations. The move will lead to reduction in transaction of cost and time. Directorate General of Foreign Trade has issued a notification in this regard and will take effect from 1st of next month. An official release said, Mandatory documents required for export of goods from India now include Bill of Lading, Commercial Invoice cum Packing List and Bill of export. Besides, mandatory documents required for import of goods into India include Bill of Lading, Commercial Invoice cum Packing List, and Bill of Entry. India ranked 126th in Trading Across Borders component of Ease of Doing Business, out of 189 countries ranked by the World Bank in its 2015 Report. It is expected that this step would improve India's ranking.