Minister of State for Commerce & Industry launches Indian Business Portal – e-commerce marketplace

What is the News?

Ministry of Commerce & Industry has launched the Indian Business Portal.

What is Indian Business Portal?

The portal is a B2B digital marketplace to empower SME exporters, artisans and farmers to identify new markets for their products and grow their sales globally. It is an International Trade Hub for Indian Exporters and Foreign Buyers.

Designed and developed by: Federation of Indian Export Organisations in partnership with GlobalLinker.

Objectives of Indian Business Portal:

-Digitizing Indian Exporters and help them become discoverable online,

-Promoting exports from all Indian States,

-Showcasing India’s strength in wide range of Products & Services,

-Encouraging virtual meetings between buyers and sellers,

-Providing a trusted network of Indian Exporters to Foreign Buyers.

Functions: Indian Business Portal addresses a number of elements like digitizing exporters, supporting MSME and encouraging greater exports of products Made in India.

Significance: It is the only marketplace that is exclusive for exporters registered in India and is custom-built to support exporters with a range of bespoke features and relevant partners integrated to build this ecosystem

What are the benefits of the portal?

Encourage business ecosystem: The portal is an encouragement to Indian Startups, SMEs, Artisans & Farmers (GI Products), and Service providers to take their first step toward the exports.

Tech-enabled governance: The portal will play a key role in determining India’s growth and competitiveness. The government is focused on paperless, automated processing systems, simple procedures for trade players, online data exchange between departments, digital payments & acknowledgements.

Benefiting capture International markets: The platform will facilitate the enhancement of India’s trade linkages for the International markets.

Source: The post is based on the article “Minister of State for Commerce & Industry launches Indian Business Portal – e-commerce marketplace” published in PIB on 27th May 2022.