Trade Connect e-Platform

12-09-2024

08:18 AM

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1 min read
Trade Connect e-Platform Blog Image

Overview:

Recently, the union Minister for Commerce and Industry launched the Trade Connect e-platform.

About Trade Connect e-Platform:

  • It is a new digital initiative aimed at transforming the landscape of international trade for Indian exporters, especially MSMEs (Medium, Small and Medium Enterprises).
  • It will connect Indian Exporters, MSMEs and Entrepreneurs with various stakeholders including Indian Missions Abroad, Export Promotion Councils, and other Partner Government Agencies. 
  • The platform 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 platform, developed in collaboration with key partners including the Ministry of MSME, EXIM Bank, Department of Financial Services (DFS), and the Ministry of External Affairs (MEA).
  • Significance
    • This initiative aligns with the government’s broader vision of promoting a Digital India, fostering greater transparency, and empowering businesses by providing them with seamless access to crucial trade information.
    • It will reduce the costs, lead times, and complexities associated with global trade, ultimately ensuring that Indian businesses can thrive in the international marketplace.

Q1: What is Export-Import Bank of India (EXIM Bank)?

It is the premier export finance institution of the country. It was established by the Government of India, under the Export-Import Bank of India Act, 1981. It is wholly owned by the Government of India.

Source: Trade Connect e-Platform for exports is single window, fast, accessible and transformational: Shri Piyush Goyal