(MENAFN- KNN India)
New Delhi, Sep 12 (KNN) The government unveiled a new digital platform on Wednesday aimed at streamlining export and import processes for businesses.
The Trade Connect ePlatform, developed through a collaborative effort involving multiple ministries and organisations, seeks to address information asymmetry in international trade.
Commerce and industry Minister Piyush Goyal, who launched the portal, described it as a 'one-stop solution' for trade-related information, including customs duties, rules, and regulations.
The platform is designed to support both experienced exporters and new entrants to international markets.
Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi highlighted the portal's ability to provide real-time access to critical trade information and facilitate connections between exporters and key government entities.
The platform will link over 600,000 import-export code holders with more than 180 Indian Mission officials, 600 Export Promotion Council officials, and various other trade experts and government representatives.
The Trade Connect ePlatform offers a range of features, including product and country-specific customs duties and regulations, information on free trade agreements, details on trade-related services offered by various departments, non-tariff barrier data, global buyer information, and exhibition listings.
Minister Goyal announced plans for regular updates to the portal, with a second version slated for release in 2025. The platform will also be made available in regional languages to enhance accessibility.
Commerce Secretary Sunil Barthwal emphasised the portal's potential to nurture entrepreneurship in the trade sector, likening it to a "ChatGPT for exporters."
He stressed the importance of fostering entrepreneurship to achieve India's ambitious target of USD 2 trillion in goods and services exports by 2030.
The launch comes at a time when global trade faces significant challenges.
The Indian government views this initiative as a strategic move to increase the country's market share in international trade, despite current economic headwinds.
Future enhancements to the platform are expected to include services related to banking, insurance, and logistics, further expanding its utility for the trading community.
This comprehensive approach underscores the government's commitment to supporting and growing India's export sector in an increasingly complex global trade environment.
(KNN Bureau)
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