Commerce Dept's Triumphs: 100 Days of Empowering SMEs and Easing Business

In its first 100 days, the Department of Commerce has launched significant initiatives to boost exports and reduce compliance costs for SMEs. Highlights include the Trade Connect e-platform, enhanced insurance coverage, and a revamped eBRC system. These measures are set to enhance global market competitiveness and ease of doing business.

In a series of efforts aimed at empowering small and medium-sized enterprises (SMEs) and boosting the ease of doing business, the Department of Commerce has unveiled multiple initiatives during its first 100 days. These initiatives are designed to increase exports, reduce compliance costs, and create new opportunities for Indian businesses in global markets.

One notable initiative is the Trade Connect e-platform, which provides SMEs with valuable information and guidance on trade. The platform connects over 6 lakh Importer Exporter Code (IEC) holders, 185 Indian Mission officials, and 600 Export Promotion Council members with the Directorate General of Foreign Trade (DGFT), the Department of Commerce (DoC), and banks. This platform aims to bridge the gap between exporters and experts, offering them seamless access to support and resources.

To support MSME exporters, the Department has increased insurance coverage, making Rs. 20,000 crore worth of credit available at lower costs. This measure will benefit around 10,000 exporters, aiding them in competing more effectively in the global market. Another significant advancement is the Self-Certified Electronic Bank Realisation Certificate (eBRC) system, which will save exporters more than Rs. 125 crore annually by reducing the costs associated with generating eBRCs.

The Ministry's ECEH initiative will link artisans, SMEs, and producers from smaller cities with global marketplaces, creating new employment opportunities and simplifying logistics. Additionally, the Government e-Marketplace (GeM) portal has reduced transaction costs for MSMEs, enhancing their participation in government procurement. The Bharat Mart initiative in Dubai aims to help Indian MSMEs expand into the Gulf Cooperation Council (GCC), Africa, and CIS markets, further facilitating trade and reducing barriers.

The National Programme of Organic Production (NPOP) has been revamped to benefit around 20 lakh farmers and boost organic exports, projected to surpass USD 1 billion by 2025-26. Under the Pradhan Mantri Cha Shramik Protsahan Yojana (PMCSPY), over 10 lakh tea garden workers in Assam and West Bengal will receive improved education and health facilities, significantly enhancing their quality of life. (ANI)

(With inputs from agencies.)