Modi 3.0 100 Days: Commerce Ministry Initiatives to Support MSME Exporters

During the first 100 days of the Modi 3.0 government, the Commerce Ministry has introduced several key measures aimed at supporting MSME exporters, who are facing challenges due to global geopolitical tensions. One of the major initiatives is the launch of the Trade Connect e-Platform, designed to empower SMEs by providing them with access to crucial trade information and guidance. This platform connects MSMEs with over six lakh IEC (Import-Export Code) holders, 185 Indian Mission officials, and more than 600 Export Promotion Council members in collaboration with the Department of Commerce.

Speaking at a media briefing, Commerce Secretary Sunil Barthwal said that the ministry has engaged with exporters in the first 100 days to understand their challenges and offer solutions. He highlighted that the e-connect portal would serve as a single point of access for MSME and other exporters, allowing them to explore new markets for shipments and providing comprehensive information on trade opportunities.

The secretary also revealed that an E-commerce Export Hub (ECEH) is being developed to help SME exporters tap into global markets. These hubs will require a regulatory framework, and a pilot project is currently underway based on Expressions of Interest (EOIs). Once completed, the project will be launched in major cities near airports, making it easier for exporters to access international markets.

Currently, India’s e-commerce exports stand at $5 billion, whereas the global market is around $800 billion, with projections reaching $2 trillion. The government aims for India to capture 10% of that market, targeting $200 billion in e-commerce exports within the next five years.

Among the other measures introduced by the ministry is enhanced insurance cover for MSME exporters, which is expected to provide ₹20,000 crore of credit at lower costs, benefitting 10,000 exporters. Additionally, the Electronic Bank Realisation Certificate (eBRC) system has been revamped to reduce the compliance burden for exporters, allowing them to self-certify. This move is particularly beneficial for small e-commerce exporters, helping them handle high-volume, low-cost transactions and claim benefits more effectively.

The new eBRC system is expected to generate 2.5 million certificates annually, lowering the cost burden, which previously ranged from ₹500 to ₹1,500 per certificate. The system is projected to save exporters over ₹125 crore in total costs.

The ministry is also facilitating cost-effective access for Indian MSMEs and exporters to markets in the Gulf Cooperation Council (GCC), Africa, and Commonwealth of Independent States (CIS). Additionally, the National Programme of Organic Production has been revamped, with a target to increase organic exports to over $1 billion by 2025-26.

Disclaimer: The information provided in this article is based on updates and reports gathered from various sources. Every effort has been made to ensure accuracy and reliability. We encourage readers to verify the details independently before making any decisions.