NEW DELHI: Key initiatives launched by the commerce ministry over the past 100 days include launch of the Trade Connect e-Platform, which connects over 600,000 Import Export Code (IEC) holders with experts, banks, and export promotion councils.
This platform aims to provide small and medium enterprises (SMEs) with essential trade information and guidance. The government has enhanced insurance coverage for MSME exporters, expected to unlock Rs 20,000 crore in credit at reduced costs, benefiting about 10,000 exporters. The introduction of a self-certified Electronic Bank Realisation Certificate (eBRC) system is set to save exporters over Rs 125 crore annually by cutting costs associated with eBRC generation.
The E-Commerce Export Hub (ECEH) has enabled linking artisans and SMEs from Tier 2 and 3 cities to global markets, which may drive e-commerce exports to USD 100 billion by 2030, as per the ministry. Bharat Mart in Dubai will facilitate access to Gulf Cooperation Council markets for Indian MSMEs, while the Jansunwai platform aims to eliminate human interfaces in regulatory processes, enhancing efficiency.