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Union Commerce Minister Piyush Goyal announced on Tuesday the government’s ambitious plan to introduce an ePlatform called ‘Trade Connect’ to bolster the capabilities of Indian exporters. This platform is envisioned to serve as a vital intermediary, facilitating communication between Indian exporters and various stakeholders in international trade. Goyal emphasized that the Trade Connect ePlatform would play a crucial role in achieving the ambitious $2 trillion export target by 2030.
The announcement was made during the second meeting of the reconstituted Board of Trade (BOT) held at the Bharat Mandapam in New Delhi. The BOT, amalgamating the Council for Trade Development and Promotion, advises the government on policy measures related to trade. The Trade Connect ePlatform is slated to be launched by May this year.
The Trade Connect ePlatform aims to provide a comprehensive suite of services for both new and aspiring exporters. These services include information on various regulations for market access, insights into export trends across different sectors, and streamlined access to benefits under Free Trade Agreements (FTAs). Additionally, the platform will offer access to sector-specific events and provide a direct channel for addressing trade-related queries to government officials and associated entities, offering expert advice.
Goyal expressed confidence that the platform would be operational within the next three to four months. He highlighted that the BOT meeting serves as an essential platform to discuss key issues such as leveraging FTAs, encouraging startups and micro, small, and medium enterprises (MSMEs) to explore international markets, and boosting exports, particularly from the services sector.
Internationalizing goods and services was underscored as a critical strategy for enhancing product quality and achieving economies of scale. Goyal urged states to proactively contribute to higher exports and the nation-building process. Areas with vast potential, such as education, tourism, and audio-visual services, were identified as key focus areas for future growth.
The BOT meeting also focused on reviewing export performance in pursuit of the $2 trillion export target for 2030. Discussions revolved around the priorities outlined in the new Foreign Trade Policy (FTP) 2023, as well as strategies and measures to drive export growth. The meeting, a crucial mechanism for deliberations on trade-related issues, was attended by Minister of State for Commerce Anupriya Patel, Commerce Secretary Sunil Barthwal, Director-General of Foreign Trade Santosh Sarangi, and other senior officials and industry representatives.
As the Trade Connect ePlatform takes shape, it is poised to become a transformative tool for Indian exporters, offering them enhanced connectivity, information, and support on their journey to global markets.
Sources By Agencies
