Centre plans to launch online platform to facilitate overseas trade

The platform is expected to facilitate new and aspiring exporters, provide information on regulations to access markets.

The central government will launch an online platform called Trade Connect by May to facilitate overseas trade and help the country to achieve its target of $2 trillion in outbound shipments by 2030, commerce ministers Piyush Goyal announced on Tuesday at the second meeting of the reconstituted Board of Trade held at the Bharat Mandapam in New Delhi.

Piyush Goyal attends a session at the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 21, 2020. REUTERS/Denis Balibouse/File Photo (REUTERS)

The new board, constituted by merging the Council for Trade Development and Promotion with it, advises the government on policy measures connected with trade. Its first meeting was held on September 13, 2022.

The platform is expected to facilitate new and aspiring exporters, provide information on regulations to access markets, sectors, export trends, easy access of benefits under free trade agreements, access to sector-specific events, along with a facility to address trade- related queries to government officials and associated entities to get expert advice. It likely to be ready in 3-4 months, the minister said.

The BOT meeting is an opportunity to deliberate on the key issues, including how to leverage trade pacts for India’s benefit, how to encourage start-ups and smaller businesses to go beyond the country’s borders, and boosting exports of the services sector, which remains a key driver of export growth, he said.

Goyal stressed on the need to internationalise goods and services to help in improving the quality of products and achieve economies of scale. The minister sought states to be proactive to achieve higher exports and contribute to nation-building. Education, tourism and audio-visual services are areas with huge potential, he said.

The BOT meeting focused on reviewing export performance to achieve the $2 trillion export target for 2030, the priorities identified in the new foreign trade policy 2023, and the strategies and measures to be adopted to take forward export growth, the commerce ministry said in a statement.

The meeting was attended by junior commerce minister Anupriya Patel, commerce secretary Sunil Barthwal, director general of foreign trade Santosh Sarangi, other officials and industry representatives.