India,
In the first 100 days of the Modi 3.0 government, the Commerce Ministry has unveiled several initiatives aimed at empowering MSME exporters facing global challenges due to ongoing geopolitical tensions. Key among these measures is the launch of the ‘Trade Connect e-Platform,’ designed to provide SMEs with crucial access to trade information and guidance.
This new platform connects over six lakh IEC (Import-Export Code) holders, 185 Indian Mission officials, and 600 Export Promotion Council members with the Department of Commerce, creating a robust support system for MSME exporters. Commerce Secretary Sunil Barthwal emphasized the platform’s significance, stating, “This e-connect portal will provide all sorts of information to exporters, enabling them to explore new markets.”
Additionally, the ministry is developing an E-commerce Export Hub (ECEH) to integrate SME exporters into the global market. A pilot project is in the works, targeting cities near airports, with the goal of boosting India’s share in the e-commerce export market. While India’s e-commerce exports currently stand at $5 billion, the global market is projected to reach $2 trillion, with India aiming for a $200 billion share within the next five years.
Other critical steps include enhanced insurance coverage for MSME exporters and the introduction of a self-certified **Electronic Bank Realisation Certificate (eBRC)** system. This system will reduce the compliance burden, lowering costs for exporters by over Rs 125 crore annually. The government also aims to strengthen export ties with regions like the Gulf Cooperation Council, Africa, and CIS countries, while boosting organic exports to over $1 billion by 2025-26.
These measures signal the government’s commitment to supporting MSME exporters and ensuring their competitiveness in the global market.
By Priyadharshini
