February 29, 2024

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NIRYAT: India’s One-stop Platform for Foreign Trade Information

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India launches NIRYAT – National Import-Export Record for Yearly Analysis of Trade. This has been developed as a one-stop platform for stakeholders to access all the information necessary related to India’s foreign trade. The Prime Minister of India, Shri Narendra Modi, will also address the gathering on the occasion.

The NIRYAT portal is another step in the country’s journey towards self-reliance: ‘Antmanirbhar Bharat’.  In a first for the nation, the ambitious target of exports worth US$ 400 billion was achieved nine days before the deadline in March 2022. This prompted congratulations by the Prime Minister who recognised the efforts of all levels of stakeholders for this success.

The launch of NIRYAT coincides with the inauguration of the new premises of the Ministry of Commerce and Industry:  Vanijya Bhawan. Located in the nation’s capital, New Delhi, near the landmark India Gate, Vanijya Bhawan has been designed as a smart building which incorporates the principles of sustainable architecture with a special focus on saving energy. It will serve as an integrated and modern office complex that will be used by the two Departments under the Ministry of Commerce and Industry: the Department of Commerce and the Department for Promotion of Industry and Internal Trade.

Indian technology exports are set to reach US$ 150 billion (excluding hardware exports), a growth of about 2% and an addition of approximately US$ 3 billion over FY2020.

  • IT services account for a turnover of US$ 81 billion and remain the leader in terms of market share. This segment is slated to continue to be the best performing segment of FY2021, with a year-on-year growth of 2.6%.
  • Business Process Management was valued at US$ 34 billion, marking a growth rate of 2.3% year-on-year. Keeping with global needs and trends, this sector is quickly moving to platform solutions offering  Business Process as a Service (BPaaS) rather than traditional BPM. The BPaaS segment is poised to grow four times faster than traditional BPM. Some of the drivers for this rapid growth include automation-led services in F&A and HR as well as increased adoption of RPA and analytics.
  • ER&D is led by increasing “softwarisation of equipment & devices (software-led products) and cloudification. Bolstered by cloud engineering, services around data monetisation and digital engineering, the segment is predicted to maintain its growth trajectory. Historically, this segment has been recording the fastest growth rate. However, FY2021 has seen a drop in growth rate (a decline of -0.2% year-on-year) and will touch US$31.1 billion
  • Software products have seen a significant rise in demand. Collaborative applications, application platforms, security software, system and service management software, content workflow and management applications will lead to a 2% growth of this segment to US$ 3 billion.

With e-commerce being closely linked to trade, OpenGov Asia reported on the development of a framework to identify fake reviews on e-commerce websites. The Department of Consumer Affairs (DoCA) has announced it will develop a framework to identify fake reviews on e-commerce websites. After studying the present mechanisms followed by e-commerce entities in India and the best practices available globally, DoCA will formulate the framework, a press release wrote.

During a recent meeting, DoCA, the Advertising Standards Council of India (ASCI), and various stakeholders like consumer forums, law universities, trade associations, and consumer rights activists discussed the magnitude and roadmap ahead for fake reviews on websites. Since e-commerce revolves around virtual shopping experiences without the opportunity to physically view or examine the product, consumers heavily rely on product reviews posted on e-commerce platforms.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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