Indian government to unveil ‘Trade Connect’ ePlatform for exporters: Piyush Goyal sets ambitious targets

The BOT meeting provided a platform to review export performance with the aim of achieving the $2 trillion export target by 2030.

In a bid to bolster India’s export capabilities and facilitate international trade, Union Commerce Minister Piyush Goyal has announced the imminent launch of an ePlatform named ‘Trade Connect.’ This initiative, scheduled for release by May this year, aims to serve as a vital intermediary platform for Indian exporters, connecting them with various stakeholders in the global trade arena. Goyal envisions Trade Connect as a key facilitator in achieving the ambitious $2 trillion export target by the year 2030.

The announcement came during the second meeting of the reconstituted Board of Trade (BOT) held at the Bharat Mandapam in New Delhi. The BOT, now comprising the merged Council for Trade Development and Promotion, serves as an advisory body to the government on trade-related policy measures. This meeting, following its reconstitution, marks a crucial step in aligning strategies to boost the country’s exports.

The Trade Connect ePlatform is poised to offer invaluable support to both new and aspiring exporters. It will provide essential information on market access regulations, sector-specific export trends, and the utilization of Free Trade Agreements (FTAs). Additionally, the platform aims to streamline access to benefits under FTAs, offer insights into sector-specific events, and provide a channel for addressing trade-related queries with government officials and associated entities, ensuring exporters receive expert advice.

Minister Goyal emphasized that the platform is expected to be operational within the next three to four months. During the BOT meeting, discussions delved into critical issues, including leveraging FTAs for maximum benefit, encouraging startups and micro, small, and medium enterprises (MSMEs) to explore international markets, and boosting exports from the services sector—a vital contributor to the country’s export growth.

Goyal stressed the need to internationalize goods and services to enhance product quality and achieve economies of scale. Encouraging states to play a proactive role in driving higher exports, he identified education, tourism, and audio-visual services as areas with immense export potential.

The BOT meeting provided a platform to review export performance to achieve the $2 trillion export target by 2030. Discussions also centred on the priorities outlined in the new Foreign Trade Policy (FTP) for 2023, alongside strategies and measures to propel export growth. The meeting served as a crucial mechanism for engaging with industry bodies, associations, Export Promotion Councils (EPCs), and state and union territories. Notably, 29 non-official members were also invited to contribute their insights.

Minister of State for Commerce Anupriya Patel, Commerce Secretary Sunil Barthwal, Director General of Foreign Trade Santosh Sarangi, and other senior officials joined Goyal at the meeting, highlighting the significance of collective efforts in driving India’s ambitious export agenda.