Comprehensive trade portal launched for all exports, imports info

The Government has launched the Trade Connect e-Platform to streamline export and import information for entrepreneurs. Developed with various Ministries and organizations, it aims to connect over 6 lakh IEC holders and provide real-time trade-related data. The portal will be updated regularly and include additional services in its second version by 2025. The platform is developed in collaboration with the Ministries of External Affairs and MSME, EXIM Bank, IT major TCS, and Department of Financial Services (DFS). It will connect more than 6 lakh import-export code (IEC) holders, over 180 Indian Mission officials, above 600 Export Promotion Council Officials, besides the officials from Directorate General of Foreign Trade (DGFT), Department of Commerce and banks. 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 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. The portal will address information asymmetry by offering exporters comprehensive support and resources. “It will be a ChatGPT for exporters and we want entrepreneurs to grow in the trade business. Unless and until, we have entrepreneurs, the dream of $2 trillion exports of goods and services (by 2030) will be difficult to achieve,” Commerce Secretary, Sunil Barthwal said.

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. The information which would be available on the platform includes 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. Sarangi added that in the second version, other services will be included, such as banking, insurance and logistics.