Govt’s newly launched portal ‘Trade Connect e-Platform’ aims to raise India's exports market share: Goyal
The portal is set to address information asymmetry by offering exporters comprehensive support and resources
Detail
In a move that would help new as well as existing entrepreneurs, the government has launched a trade portal to provide all kinds of information related to exports and imports. The Trade Connect ePlatform is developed in collaboration with the Ministry of MSME, EXIM Bank, TCS, Department of Financial Services (DFS), and the Ministry of External Affairs (MEA).
The platform will connect more than 6 lakh IEC (import-export code) holders, over 180 Indian Mission officials, over 600 Export Promotion Council Officials, besides the officials from DGFT, department of commerce and banks. The information which would be available on the platform included product and country-wise customs duties and regulations; free trade pacts-related information, trade-related services offered by different departments and agencies; non-tariff barriers; about global buyers, and exhibitions.
Commerce and Industry Minister Piyush Goyal said that it would act as a one-stop solution for all kinds of information such as customs duties, rules and regulations. The portal is set to address information asymmetry by offering exporters comprehensive support and resources. He said that the portal will be updated regularly and stakeholders' feedback will help in launching its second version in 2025. He said ‘The global trade is in a paralytic situation but this is our effort to increase India's market share in the world’ and added that it will be released in regional languages also.