India Launches Trade Portal for Exports & Imports

New Delhi, Sep 11 (PTI) The government on Wednesday launched a trade portal to provide all kinds of information related to exports and imports, a move which would help new as well as existing entrepreneurs.

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).

Launching the portal, 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.

Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said that it will provide exporters real-time access to critical trade-related information, while seamlessly connecting them to key government entities such as the Indian Missions abroad, Department of Commerce, Export Promotion Councils, and other trade experts.

Whether a seasoned exporter or a new entrant, the platform is designed to assist businesses at every stage of their export journey, he said.

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.

Goyal said that the portal will be updated regularly and stakeholders' feedback will help in launching its second version in 2025.

"The global trade is in a paralytic situation but this is our effort to increase India's market share in the world," he said, adding that it will be released in regional languages also.

Sarangi added that in the second version, other services will be included such as banking, insurance and logistics.

Speaking at the event, Commerce Secretary Sunil Barthwal said the platform will help both existing and aspiring exporters.

"It will be a ChatGPT for exporters…We want entrepreneurs to grow in the trade business. Unless and until, we have entrepreneurs, the dream of USD 2 trillion exports of goods and services (by 2030) will be difficult to achieve," the secretary said.