News Brief
Finance Minister Nirmala Sitharaman
The Union Budget 2025 has announced several targeted initiatives to promote India’s exports, simplify trade processes, and enhance global competitiveness of Indian Products.
They include an Export Promotion Mission, BharatTradeNet platform, a national framework for promoting Global Capability Centres, and interestingly the upgradation of warehousing facilities found a mention.
Let's look over them one by one.
The government shall introduce BharatTradeNet (BTN)—a unified platform to manage trade documentation and financial solutions. BTN will be aligned with international trade standards and will complement the Unified Logistics Interface Platform (ULIP). Additionally, the government plans to provide support to develop domestic manufacturing capacities for better integration of India's economy with the global supply chains.
A National Framework for Global Capability Centres (GCCs) shall be formulated to encourage to promote the expansion of GCCs in Tier 2 cities. The framework shall include measures for enhancing availability of talent and infrastructure, building by-law reforms, and mechanisms for collaboration with industry.
The government plans to upscale and upgrade the infrastructure for air cargo storage, primarily for high-value perishable agricultural exports. The government shall also simplify cargo screening and customs protocols to improve efficiency, user friendlines and reduce processing delays at major export hubs.