New Delhi: Commerce and Trade Minister Piyush Goyal launched the Commerce Intelligence & Analytics (TIA) Portal on Tuesday to open up new insights for exporters, importers, startups, and MSMEs, with extra commerce information being made obtainable to all stakeholders.
Goyal stated that smaller companies, even within the remotest areas, will now have entry to information that was beforehand obtainable solely to bigger enterprises. The minister highlighted that there are enormous alternatives within the international companies sector that can now be accessible to all. He additionally famous that the portal will assist exporters higher make the most of the nation’s Free Commerce Agreements.
Goyal stated the Ministry of Commerce has put in vital effort to develop this platform. He stated the portal has the potential to assist commerce diversification, develop India’s commerce basket to newer areas and newer merchandise, and assist acknowledge misplaced alternatives.
Recognizing the necessity for a sturdy intelligence and analytics framework to assist evidence-based policymaking and allow focused sectoral interventions, the Division of Commerce initiated the event of the Commerce Intelligence & Analytics (TIA) Portal in March 2024.
The Division felt it essential to develop these capabilities throughout all commodity and territorial divisions, Export Promotion Councils (EPCs), and missions overseas in goal international locations. On this context, the Division has developed a one-stop analytics Commerce Intelligence & Analytics (TIA) Portal, designed to boost commerce analytics and foster data-driven, evidence-based policymaking by a complete and built-in platform.
The one-stop answer caters to numerous views, together with India, international, and bilateral commerce, with a number of databases overlaying commerce and macro-economic indicators, offering commerce insights essential for knowledgeable decision-making. The Commerce Watch Tower gives nation and commodity-level intelligence by specialised instruments and visualizations that enable customers to determine international in addition to bilateral developments with enhanced analytical capabilities for figuring out market diversification alternatives.
Database collation has been automated by APIs for handy consumer entry, and seamless information extraction functionality has been developed to extract and obtain commodity and nation information. Automation has additionally been undertaken for workflows such because the Month-to-month Commerce Report (greater than 300 pages) and surge reviews ready in two variations primarily based on commerce alert information and last information (every greater than 30 pages).
The Commerce Knowledge Analytics Portal is an economical, open-source answer that prioritizes accessibility, scalability, and user-centric design. With no software program licensing prices and solely minimal server infrastructure bills, it provides a sustainable mannequin for long-term deployment.
The Commerce Watch Tower identifies Champion Merchandise by scanning international demand and mapping India’s provide capabilities. Devoted dashboards observe the efficiency of Manufacturing Linked Incentive (PLI) commodities, serving to assess coverage influence and market competitiveness. Surge monitoring instruments observe import and export surges throughout commodities and international locations, together with each FTA and non-FTA companions, enabling early detection of anomalies and rising dangers.
A Vital Minerals Dashboard covers greater than 30 crucial minerals and maps India’s commerce flows and international sourcing locations on the HS code stage. A Tariff Evaluation Dashboard and a Goal Monitoring Dashboard are beneath improvement for tariff insights and efficiency monitoring.
To assist superior commerce analytics, the portal incorporates commerce indices such because the Commerce Complementarity Index, which assesses alignment between India’s export profile and associate international locations’ import wants.