The Union Government has recently initiated the creation of Trade Connect ePlatform, an initiative that aims to connect the Indian enterprises, specially the MSMEs to global platform.
Union Minister of State for Commerce and Industry, Jitin Prasada has earlier this month shared in the Parliament that government has initiated the creation of Trade Connect ePlatform that will help to provide information pertaining to trade events globally.
Experts believed that it will empower the Indian exporters, especially MSMEs by providing a comprehensive platform for trade information and resources.
What is Trade Connect ePlatform?
Trade Connect is an ePlatform that will provide information on trade events taking place in different parts of the world, benefits available due to India’s Free Trade Agreements (FTAs) and other international trade related information and data.
The portal aims to answer Frequently Asked Questions (FAQs) by existing & aspiring exporters on identification of products for export, non-tariff barriers, updated tariff schedule of items, the latest applicable customs duty and applicability of India’s FTAs to individual products.
How Trade Connect ePlatform will connect MSMEs?
Trade Connect ePlatform aims to connect Indian Exporters, MSMEs and Entrepreneurs with various stakeholders including Indian Missions Abroad, Export Promotion Councils, and other Partner Government Agencies.
Further, 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.
How government helping in MSMEs exports?
Government of India has taken several measures to enhance the exports by MSMEs. These include efforts made under Make in India Programme, Promotion of Ease of Doing Business, improved availability of credit through MUDRA, Stand up India.
Further, Ministry of MSME has also established Export Facilitation Centers (EFCs) with an aim to provide requisite mentoring and handholding support to MSEs in exporting their products and services to the foreign market.
Government has also established Enterprise Development Centers (EDCs) with the aim to build a network of entrepreneurial leaders by providing professional mentoring and handholding support services to existing as well as aspiring MSMEs with special focus on rural enterprises on continuous basis.
Trade Connect to equip MSMEs with insights and resources
“The launch of the Trade Connect ePlatform will empower Indian exporters, especially MSMEs by providing a comprehensive platform for trade information and resources,” said Pushkar Mukewar, Co-Founder of Drip Capital.
By offering a comprehensive hub for trade information and resources, this platform has the potential to greatly enhance India’s presence in global trade,he said.
Pushkar believed that this platform has the potential to simplify the export process, making it more accessible for all exporters, including newcomers.
Munindra Verma, CEO, M1NXT said, “The launch of the Trade Connect e-platform is a pivotal step towards bolstering India’s export ecosystem. By seamlessly connecting exporters, MSMEs, and key stakeholders like Indian missions abroad and export promotion councils, this platform will serve as a vital resource.”
This initiative will ensure ease of trade, enhance the speed of business, and establish India’s rightful say in the global value chain,Verma added.
The Co-Founder of Drip Capital further also believed that through this platform, users can effortlessly access essential information on regulations, market trends, and sector-specific events, ensuring they stay well-informed and capable of making strategic decisions.
