To support businesspeople, especially new entrants, the government launched a new trade portal that is crucial for both new and existing businesspeople since it’s a one-stop-shop for all information regarding export and import business. The Trade Connect platform has been jointly built by the Ministry of MSME, EXIM Bank, TCS, Department of Financial Services (DFS), and Ministry of External Affairs (MEA).
Government official Piyush Goyal, who is currently serving as the Commerce and Industry Minister, spoke to the media regarding the benefits of the new portal, noting that important information such as customs duties and regulatory guidelines, among others, can be found on the portal. It’s an effective way to eliminate informational voids, as the platform provides exporters with the necessary support and materials.
Sustaining this DGFT, Santosh Kumar Sarangi underlined that now the portal can offer real-time data on trade-related information and user interface with various Trade-related governmental bodies such as Indian Missions Abroad and Export Promotion Councils, among others. The platform aims to support the exporters and help them at every step of exporting.
Linking 600,000 people with IEC numbers, 180 officials of the Indian Mission, and numerous Export Promotion Council officials, the portal will provide necessary information on customs duties, free trade agreements, trade services, and analysis of buyers and exhibitions worldwide.
Goyal further stated that the site would be dynamic, with stakeholder feedback forming the basis of the second version launched in 2025. This is considered a tactical move towards improving India’s market share in global trade regardless of the existing difficulties.
Exporters will open the platform they currently use to help existing and potential exporters alike, tied to Commerce Secretary Sunil Barthwal’s A-to-Z-enabled vision, likening the platform to a ‘ChatGPT for exporters. ’ Barthwal added that there is a need to encourage more entrepreneurship to realize the USD 2 trillion export target by 2030.
