The Union Minister for Commerce and Industry recently launched the Trade Connect e-Platform, a digital initiative aimed at boosting international trade for Indian exporters, particularly MSMEs.
About Trade Connect e-Platform:
- Launched by the Ministry of Commerce and Industry.
- Key goal: Help achieve $1 trillion in merchandise exports and $1 trillion in services exports by 2030.
- A single-window platform aimed at simplifying international trade processes for Indian exporters, especially MSMEs (Micro, Small, and Medium Enterprises).
- Developed in collaboration with the Ministry of MSME, EXIM Bank, Department of Financial Services (DFS), and the Ministry of External Affairs (MEA).
- Provides real-time access to trade-related data, including:
- Product and Country guides for detailed market insights.
- Trade Agreements and Tariff explorer to unlock the benefits of Free Trade Agreements (FTAs).
- Information on global trade events and other trade-related opportunities.
- Connects Indian exporters with key stakeholders such as Indian Missions Abroad, Export Promotion Councils, and Partner Government Agencies.
Significance:
- Supports the Digital India vision by promoting greater transparency.
- Reduces costs, lead times, and complexities in global trade.
- Empowers businesses by providing seamless access to essential trade information, ensuring Indian businesses, especially MSMEs, can thrive in global markets.
About PM-eBus Sewa Scheme:
- The PM-eBus Sewa Scheme aims to deploy 10,000 electric buses across cities in India to accelerate the adoption of e-buses in public transport.
- It is designed to address the slow uptake of electric buses and to promote eco-friendly public transportation.
Support for Operation:
- The scheme will operate on a Public Private Partnership (PPP) model, with a 10-year operational period.
- States and cities will be responsible for running the e-bus services and making payments to the private bus operators.
- The Central Government will provide subsidies to support these bus operations, making it financially feasible for cities to adopt e-buses.
Funding:
- The total funding allocated to the scheme is Rs 57,613 crore.
- Out of this, the central government will contribute Rs 20,000 crore, while state governments will cover the remaining amount.
Coverage:
- The scheme will cover cities with a population of 300,000 and above, including all capital cities of Union Territories, the North Eastern Region, and Hill States.
Two Segments of the Scheme:
Augmenting City Bus Services and Associated Infrastructure:
- Focuses on enhancing city bus operations by providing Central Assistance (CA) for deploying 10,000 electric buses.
- Includes funding for building bus depots and behind-the-meter power infrastructure required to support e-buses.
Green Urban Mobility Initiatives (GUMI):
- Supports projects that reduce Greenhouse Gas (GHG) emissions in urban areas by complementing the e-bus services.
- Includes the implementation of the National Common Mobility Card (NCMC)-based Automatic Fare Collection System (AFCS) and bus priority infrastructure to improve urban mobility.
Ref: Source
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Frequently Asked Question:
What is the main goal of the Trade Connect e-Platform?
The platform aims to achieve $1 trillion in merchandise and $1 trillion in services exports by 2030.
Who launched the Trade Connect e-Platform?
It was launched by the Ministry of Commerce and Industry in collaboration with various governmental bodies.
What are the benefits of Free Trade Agreements (FTAs) for exporters?
FTAs reduce tariffs and trade barriers, providing exporters with easier access to international markets.
Why is global trade important for MSMEs?
Global trade helps MSMEs expand their market reach, increase revenue, and stay competitive by accessing a larger consumer base.