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Empowering exporters and streamlining processes main focus of Department of Commerce in first 100 days of government
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....mpowering exporters and streamlining processes main focus of Department of Commerce in first 100 days of government <br>News and Press Release<br>Dated:- 21-9-2024<br><BR>The Department of Commerce (DoC) has focused on empowering exporters, streamlining processes, and promoting economic growth through innovative solutions during the first 100 days of this Government. These achievements underscore ....
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....the. Below are some of the key highlights: 1. Empowering Exporters through Trade Connect e-Platform The launch of a comprehensive Trade Connect e-Platform has connected over 6 lakh IEC holders, 185 Indian Mission officials, and over 600 Export Promotion Council members with Directorate General of Foreign Trade (DGFT)/DoC offices and banks. This digital initiative enhances the ease of doing busin....
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....ess for small and medium enterprises (SMEs) by providing them with information and guidance, fostering a more seamless and transparent export ecosystem. 2. Enhanced Insurance Cover for MSME Exporters To boost exports, the government has introduced enhanced insurance cover for MSME exporters, which is expected to provide credit worth ₹20,000 crore at lower costs. This initiative will make I....
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....ndian exports more competitive, benefitting around 10,000 exporters. 3. Reducing Compliance Burden through Self-Certified Electronic Bank Realisation Certificate (eBRC) system The introduction of a self-certified electronic Bank Realisation Certificate system has significantly reduced compliance costs for exporters. Previously costing between ₹500-₹1,500 per eBRC, this system now sav....
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....es exporters over ₹125 crore and simplifies the process for claiming benefits and refunds. This paperless system also aligns with the government's broader goals of promoting a digital, eco-friendly economy, cutting down both administrative and environmental expenses. The bulk generation and Application Programming Interface (API) integration of eBRCs significantly reduce time and effort, st....
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....reamlining the process for exporters and stakeholders. This system is particularly beneficial for small exporters, especially in e-commerce, as it efficiently handles high-volume, low-cost transactions. As a result, it enables them to claim benefits and refunds more effectively, supporting their growth and participation in international trade. 4. Connecting SME Exporters to the World through E-Co....
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....mmerce Export Hub (ECEH) The launch of the E-Commerce Export Hub (ECEH) is poised to revolutionize India's cross-border e-commerce ecosystem, with projections indicating a potential export value of USD 100 billion by 2030. ECEHs will provide artisans, SMEs, and One District One Product (ODOP) producers easy access to global markets, reduce costs and simplify logistics. These hubs will boost empl....
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....oyment opportunities in transport, warehousing, and quality assurance. Linking Tier 2 and Tier 3 cities, as well as rural areas, with the global marketplace ECEH will play a significant role in driving the digital transformation of these regions. This connection will enable smaller cities to access broader opportunities in international trade, fostering economic growth and inclusion. 5. Reducing ....
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....Transaction Costs for MSMEs on GeM Portal To promote greater MSME participation in the Government e-Marketplace (GeM), the number of pricing slabs has been reduced, making it easier for vendors to understand and comply with. New cap on charges ensures greater affordability for high-value transactions as Orders above ₹10 Crore will now pay a flat fee of ₹3 Lakh, a massive reduction fro....
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....m the transaction charges previously capped at ₹72.5 lakh. 6. Bharat Mart in Dubai In a groundbreaking initiative, the Department of Commerce has facilitated the establishment of Bharat Mart in Dubai. This hub will provide Indian MSMEs cost-efficient access to the Gulf Cooperation Council (GCC), African, and CIS markets, thereby boosting India's exports to these regions. 7. Eliminatin....
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....g Human Interface through Jansunwai The government has further enhanced ease of doing business by launching Jansunwai, a platform that facilitates smooth communication eliminating intermediaries and providing direct communication between stakeholders and the Department. This fosters transparency and saves businesses time and effort, reducing the need for physical office visits. 8. Strengthening ....
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....the Organic Regulatory Ecosystem A revamped National Programme of Organic Production (NPOP) is set to benefit approximately 20 lakh farmers from 5,000 grower groups through enhanced export opportunities. With a focus on improving certification standards, organic exports are expected to surpass USD 1 billion by 2025-26. 9. Pradhan Mantri Cha Shramik Protsahan Yojana (PMCSPY) Under this initiativ....
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....e, more than 10 lakh workers across 1,210 tea gardens in Assam and West Bengal will have access to better healthcare, education, and resting shed facilities. This marks a major step toward improving the quality of life for tea garden workers and their families. 10. Rollout of ICEGATE Across All Non-IT/ITES SEZs The ICEGATE portal has been expanded to cover all non-IT/ITES SEZ units, enabling the....
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....m to apply for benefits under the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme. This move enhances ease of doing business, offering 24x7 helpdesk support to SEZ units and ensuring more seamless trading operations. These transformative initiatives reaffirm the government's commitment to expanding India's global trade footprint while ensuring the development and welfare of....
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.... its people. With the continued efforts of the Department of Commerce, India is well on its way to becoming a global economic powerhouse by 2047.<BR> News - Press release - PIB....