New 'Trade Connect' E-Platform To Support Exporters And MSMEs Announced By Govt

New Delhi, Aug 7 (KNN) The government has announced the development of a new e-platform, dubbed "Trade Connect," aimed at fostering connections between exporters, Micro, Small, and Medium Enterprises (MSMEs), and entrepreneurs with various stakeholders in the international trade ecosystem.

Minister of State for Commerce and Industry Jitin Prasada, in a written reply to the Lok Sabha, outlined that the platform will serve as a hub for information on global trade events, benefits arising from India's Free Trade Agreements (FTAs), and other pertinent international trade data.

The initiative seeks to bridge exporters and MSMEs with Indian Missions Abroad, Export Promotion Councils, and other partner government agencies, potentially streamlining the export process and enhancing access to international markets.

In response to a separate inquiry, Prasada highlighted several districts showing robust export growth. Jamnagar led the list with exports valued at USD 10 billion during April-May of the current fiscal year, followed by Kanchipuram, Mumbai, Pune, Kachchh, and Surat.

Additionally, Prasada addressed a question regarding potential concessions for Women Entrepreneurs and MSMEs in licensing fees for permits granted by the Petroleum and Explosives Safety Organisation (PESO).

He stated that a proposal for an 80 per cent concession for Women Entrepreneurs and a 50 per cent concession for MSMEs is currently under active consideration by the Department for Promotion of Industry and Internal Trade (DPIIT).

This multi-faceted approach underscores the government's efforts to bolster India's export capabilities and support diverse business segments in navigating the global trade landscape.

(KNN Bureau)