September 20, 2024 10:06 PM.
The Department of Commerce has focused on empowering exporters, streamlining processes, and promoting economic growth through innovative solutions during the first 100 days of the third term of the NDA government.
The Ministry of Commerce and Industry, in a statement, said that during this period, several initiatives were taken to boost exports and streamline processes. The Ministry added that to boost exports, the government introduced enhanced insurance cover for MSME exporters, which is expected to provide credit worth 20 thousand crore rupees at lower costs.
This initiative will make Indian exports more competitive, benefiting around ten thousand exporters. 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 100 billion dollars by 2030. ECEHs will provide artisans, SMEs, and One District
One Product producers easy access to global markets, reduce costs, and simplify logistics. It also added that to promote greater MSME participation in the Government e-Marketplace, the number of pricing slabs has been reduced, making it easier for vendors to understand and comply.