TPCI partners with Singapore's Monetary Authority for handholding SMEs

Trade Promotion Council of India (TPCI) on Wednesday said it has joined hands with Singapore-based Monetary Authority for supporting domestic SMEs for promoting their exports.

A platform will be created to offer services to small and medium enterprises (SMEs) like connecting buyers and sellers of different countries, helping exporters in custom clearances, financing options and custom advisory, the council said in a statement.

"We are ready with its digital infrastructure and are eager... for leveraging the idea of export promotion using new age fin-tech system," TPCI Chairman Mohit Singla said.

It would also enable businesses to upload data relating to their demand and supply of goods.

Further, it said the platform will accept a trade when there is a match between the demand and supply between businesses.

"It will complete the transaction for the matched trade and includes an applications store for the recommendation and listing of applications providing generic services," it added.

Singla said the platform in the pilot phase will be launched during the forthcoming edition of its flagship mega show- Indusfood 2020.