Plan is to create separate agency to implement BharatTradeNet: DGFT

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Plan is to create separate agency to implement BharatTradeNet: DGFT - Business Standard

Quick Summary:

Proposed on the lines of Unified Payments Interface (UPI), the platform will help in moving towards complete digitisation of the entire range of trade documentation and then allow seamless operability of different agencies which are involved in this, Director General of Foreign Trade (DGFT) Santosh Kumar Saranagi told reporters here.

The Budget announcement to set up BharatTradeNet as a unified platform for trade documentation and financing solutions is an ambitious proposal and there is a plan to create a not-for-profit company to implement this project, a senior government official said on Tuesday.

Finance Minister Nirmala Sitharaman has said in the Budget speech that this will be set up as a unified platform for trade documentation and financing solutions and it will complement the Unified Logistics Interface Platform.