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Delhi: In a significant development for India’s trade ecosystem, Union Minister Shri Piyush Goyal presided over the second meeting of the reconstituted Board of Trade at Bharat Mandapam, New Delhi. The meeting addressed crucial aspects of India’s export strategy, including the initiation of the Trade Connect ePlatform—a transformative intermediary platform connecting Indian exporters and entrepreneurs with international trade stakeholders.
Shri Piyush Goyal announced the imminent commencement of work on the ePlatform, designed to facilitate new and aspiring exporters. The platform aims to provide comprehensive information on market access regulations, export trends, benefits under Free Trade Agreements, and sector-specific events. Additionally, it will serve as a channel for trade-related queries, allowing users to seek expert advice from government officials and associated entities. The Trade Connect ePlatform is anticipated to be operational within 3-4 months.
During his opening remarks, Shri Piyush Goyal highlighted the Board of Trade meeting as an opportunity to deliberate on key issues, emphasizing the need to leverage Free Trade Agreements for India’s benefit. The Minister stressed the importance of encouraging startups and MSMEs to explore international markets, extending the export focus to the services sector.
Internationalizing goods and services, improving product quality, and achieving economies of scale were key themes in Shri Goyal’s address. He envisioned exports as a people’s movement, with collaborative efforts from states, the center, and the industry contributing equally to accelerate India’s exports.
Shri Piyush Goyal underscored the proactive role states and union territories should play in achieving higher exports, pledging to address raised issues and consider participants’ suggestions. The Minister identified education, tourism, and audio-visual services as areas with immense potential for service exports.
The Board of Trade meeting concentrated on reviewing export performance, aligning strategies with the $2 trillion export target for 2030, and discussing priorities outlined in the new Foreign Trade Policy (FTP) 2023. The reconstituted Board serves as a vital platform for regular discussions with trade and industry, advising the government on foreign trade policy measures.
The meeting witnessed presentations on diverse subjects, including India’s import/export performance, leveraging Free Trade Agreements, the PM Gati Shakti National Master Plan for multimodal connectivity, and reforms in the Indian patent system. State ministers actively participated, offering state-specific suggestions and expressing commitment to creating a conducive environment for external trade.
The event, attended by Minister of State for Commerce and Industry, Ms. Anupriya Patel, Commerce Secretary Shri Sunil Barthwal, and other key officials, marked a collaborative effort involving state ministers, industry bodies, Export Promotion Councils, and associations. The Board of Trade remains a crucial mechanism for trade-related deliberations, fostering a holistic approach towards India’s trade objectives.
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