Digital Initiatives for Augmentation of Exports Trade of India.

[YAGAY andSUN]

India has implemented several digital initiatives to boost and augment the exports trade by improving efficiency, transparency, and ease of doing business for exporters. These initiatives primarily focus on modernizing the export processes, making them more efficient, and enhancing the competitiveness of Indian products in the global market. Here’s an overview of some of the key digital initiatives for augmenting India's export trade:

1. Digital India Programme

The Digital India initiative aims to transform India into a digitally empowered society and knowledge economy. It includes a variety of components that help exporters by enhancing the infrastructure, governance, and technology use. This has significantly impacted India’s export sector by streamlining the procedures for documentation, licensing, and other export-related functions.

2. E-Export Facilitation (E-EPG)

The Electronic Export Promotion Council (EEPC) is actively promoting digital platforms that allow businesses to access information about export opportunities, market trends, and trade fairs. One such initiative is E-EPG, which helps exporters with:

• Registration for trade fairs and expos.
• Market intelligence and support for participating in international events.
• Access to online platforms where businesses can interact with international buyers.

3. DGFT’s Digital Platform (www.dgft.gov.in)

The Directorate General of Foreign Trade (DGFT) has moved much of the export and import documentation process online, including:

• IEC Registration: Import Export Code (IEC) registration is now available online, simplifying the process for new exporters.
• Export Licensing: Applications for export licenses, authorizations, and clearances can now be done online, reducing physical paperwork and the time spent on approvals.
• EXIM Data and Reports: DGFT also provides data on exports and imports, allowing businesses to understand trends and demands in different markets.
• e-IEC: The application process for obtaining an Importer Exporter Code (IEC) is fully digitalized.

4. eSanchit (Electronic Submission of Documents)

eSanchit is an initiative under the Indian Customs department that allows exporters to submit documents electronically for customs clearance. This initiative is aimed at:

• Reducing physical paperwork.
• Simplifying the submission process for export-related documents (such as invoices, packing lists, shipping bills).
• Improving the overall speed of the export clearance process.

eSanchit also integrates with the National Trade Facilitation Action Plan (NTFAP), which allows exporters to track their consignments in real time.

5. ICEGATE (Indian Customs Electronic Gateway)

ICEGATE is a digital platform that facilitates online filing and tracking of export documentation such as:

• Shipping bills.
• Bills of entry.
• Payment of customs duties.
• Clearance of goods.

ICEGATE connects exporters to Indian Customs and helps in the faster clearance of goods at ports. It is aimed at reducing delays in customs clearance and enhancing transparency.

6. Trade Receivables Discounting System (TReDS)

TReDS is a digital platform for MSME exporters to improve their liquidity by enabling the discounting of trade receivables. This allows MSMEs to sell their receivables to financiers at discounted rates, thus improving cash flow. The platform is an effective tool for financing the working capital needs of MSMEs involved in exports.

Key features:

• Improved access to finance for MSMEs.
• Transparency in the financing process.
• A digital ecosystem for easier transactions.

7. Trade and Industry Platforms

Several government agencies and private platforms have introduced digital platforms for promoting Indian exports. These include:

• Export Promotion Councils (EPCs): Digital initiatives by EPCs such as the Federation of Indian Export Organisations (FIEO) and EEPC India aim to promote exports by providing information, export documentation assistance, and financial support.
• National Board of Trade (NBT): Provides a digital trade facilitation platform to simplify the trade process and give exporters access to data and tools for decision-making.

8. Digital Payments Infrastructure

To ensure that exporters receive timely payments from international buyers, India has increasingly embraced digital payment systems. Some examples include:

• Rupay International Card: Provides exporters with an easy way to receive payments.
• Unified Payments Interface (UPI) and Real Time Gross Settlement (RTGS): These systems help facilitate faster international payments for export transactions.

9. B2B E-Commerce Platforms

Digital platforms, such as IndiaMart, Export Genius, and TradeIndia, connect Indian exporters with international buyers. These e-commerce platforms help exporters list their products, connect with overseas buyers, and manage international trade relationships effectively. These platforms also help promote Brand India in the global market.

10. E-commerce Export Strategy

With the growth of cross-border e-commerce, the Indian government has taken steps to support exporters in selling their products through online global marketplaces such as Amazon, eBay, and Alibaba. The E-commerce Export Promotion Council (EEPC) aims to help MSMEs in reaching global consumers, promoting their products digitally, and simplifying the payment process.

• E-commerce Export Guidelines: The government has provided guidelines to ease exports via e-commerce, which includes simplified documentation and customs procedures.
• Logistics Support: Integrated digital platforms for managing the logistics of exports, such as connecting exporters with freight forwarding services and tracking deliveries.

11. SEZ (Special Economic Zones) and Digital Initiatives

India’s SEZs are now leveraging digital tools to facilitate the export process. The SEZ Online System allows for:

• Online filing of documents and applications for approval.
• Simplified export-import procedures for businesses within the zones.
• Faster clearance and approval processes, improving overall trade facilitation.

12. AI and Big Data for Market Insights

Artificial Intelligence (AI) and Big Data are also being integrated into India’s export sector to help businesses gather insights into:

• Export market trends.
• Demand forecasting.
• Consumer behaviour analysis in different regions.

These digital technologies enable Indian exporters to make data-driven decisions and target the right markets effectively.

13. Export Promotion through Social Media and Digital Marketing

The Indian government and export promotion agencies are leveraging social media and digital marketing to help Indian exporters promote their products to global markets. Platforms like LinkedIn, Twitter, and Facebook are being used to connect with international buyers and enhance the global presence of Indian products.

Conclusion:

These digital initiatives collectively aim to make India's export sector more competitive, efficient, and accessible. By streamlining processes, reducing documentation, and improving accessibility, these initiatives help exporters expand their reach, improve cash flow, and reduce barriers to trade. Additionally, they promote better market intelligence and enhance India's position in the global trade ecosystem.