Trade Connect ePlatform

January 19, 2024

Union Commerce Minister Piyush Goyal announced the upcoming Trade Connect ePlatform to boost MSME and startup participation in exports. It was announced at the second meeting of the reconstituted Board of Trade. The portal aims to promote exports by small and medium traders and will be operational in 3-4 months.

Supporting MSME Exporters

The platform will connect Indian exporters and entrepreneurs to international trade stakeholders. This will help new exporters, especially MSMEs with limited knowledge, access key export promotion information and opportunities not easily available to them currently.

Export Resources in One Platform

The portal is designed as a one-stop resource for everything related to exports including contact details of officials and domain experts. It will bring transparency by making previously inaccessible material open for small businesses.

About Board of Trade

Board of Trade, which advises on trade policy, was created in September 2022 by merging the Council for Trade Development and Promotion into it. It provides the opportunity to undertake regular consultations and discussions with the industry and trade. It also advises the government on policy matters associated with the Foreign Trade Policy to boost India’s trade.

Reviewing Export Targets

The Board discussed India’s $2 trillion export target by 2030, new Foreign Trade Policy priorities and strategies to take export growth forward. Export promotion council EEPC India suggested connectivity of waterways and ports plus incentives to boost exports.

Narrowing Trade Deficit

India’s December trade deficit narrowed almost 4% over November as exports rose while imports moderated. Services exports also exceeded imports, indicating positive momentum.

Measures Taken to Boost Exports

Logistics Development

Efficient logistics connectivity via ports, waterways and airports along with seamless last-mile delivery are enabling businesses to access global markets faster. Upgrading logistics and transport infrastructure across states can give Indian exports a competitive edge.

Lowering Export Costs

The new Foreign Trade Policy and resultant measures are lowering exporters’ costs through incentives like tax and duty remissions and input tax credits. This makes India’s exports price competitive worldwide.

Increasing Export Base

Platforms like Trade Connect that provide export knowledge access along with guidance to small enterprises can grow India’s export base exponentially. Onboarding more MSMEs onto global e-marketplaces through such channels will be key.

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