MSMEs prepare digital platform to help new exporters to boost exports

On Tuesday, January 16, 2024, Commerce Minister Piyush Goyal said at the second meeting of the reconstituted Board of Trade held at the Bharat Mandapam in Delhi, that the Government of India has announced Trade Connect, an upcoming digital platform. Where exporters, SMEs and entrepreneurs can connect various stakeholders in international trade. He also said that the work of this platform will start very soon.
The platform is expected to facilitate new and aspiring exporters, also provide information on markets, sectors, export trends, easy access to benefits under free trade agreements, and trade. According to the ministry, this platform will be ready in the next three to four months.
India's Commerce Minister Piyush Goyal in his statement also said the Board of Trade meeting is an important opportunity to discuss how FTAs can be leveraged for the benefit of this issue and how MSMEs can be encouraged to go beyond our borders and start exporting, and increase exports. Talking about the potential of services exports, the commerce minister gave special emphasis on India's education, tourism and audio-visual services as key sectors. He also urged states and Union Territories to play an active role in achieving higher exports and contributing to the nation building process.
Last December, Minister of State for MSME Ministry Bhanu Pratap Singh Verma said MSME-related products accounted for 45.56 percent of India's exports till September last year.
India's exports of goods and services totalled $376.29 billion during April-September 2023. Which increases the value of MSME exports over the next 3 fiscal years from $154.8 billion in FY20 and $143.9 billion in FY21 and $190 billion in FY22. In 2020, India's former MSME Minister Nitin Gadkari set a target of 60% growth in MSMEs in India's total exports over the next 5 years.
Last December, Goyal launched the E-Commerce Exports Handbook for MSMEs, developed through DGFT, to help MSMEs use e-commerce channels to boost their exports. This e-commerce exports handbook provides insights into export expansion strategies to enable MSMEs to penetrate global markets and scale. It also extended the Duty and Tax Exemption Scheme on Exported Goods (RoDTEP) to courier and postal exports to help SMEs take advantage of government schemes, and boost e-commerce exports and boost overall export growth from the country. He set a target of $1 trillion in India's exports by 2030.


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