TPCI partners with Singapore's Monetary Authority for handholding SME exporters of India
New Delhi, Nov 13 (KNN) The Trade Promotion Council of India (TPCI) has signed a Memorandum of Understanding (MoU) with the Monetary Authority of Singapore (MAS) for boosting the Small Medium Enterprise (SME) exports from India to key international markets though a landmark online trade platform called BSB.
The High Commission of India in Singapore has played a key role in supporting this future platform, linking India business with Singapore and other global markets. High Commissioner of India to Singapore Jawed Ashraf was also present.
Business sans Borders is a hybrid business data and digital solutions hub, which leverages artificial intelligence to facilitate the matching of demand and supply of goods and services between businesses, including small and medium-sized enterprises.
“TPCI was ready with its digital infrastructure and is eager to the first hand mover in leveraging the idea of export promotion using new age fin- teach system. This system will facilitate seamless business through a public online infrastructure and will offer services like; connecting buyers and sellers of different countries, helping exporters in custom clearances, financing options, issuing LCs, facilitate escrow account, custom advisory, amplify efforts in trading across borders, quick ways of doing business, etc,” said TPCI Chairman Mohit Singla while speaking on the tie-up.
It would also enable businesses to upload data relating to their demand and supply of goods.
Further, it said the platform will accept a trade when there is a match between the demand and supply between businesses.
"It will complete the transaction for the matched trade and includes an applications store for the recommendation and listing of applications providing generic services," it added.
Singla said the platform in the pilot phase will be launched during the forthcoming edition of its flagship mega show- Indusfood 2020