The platform boasts of helping businesses experience a range of services digitally including payments of funds through multiple digital modes and undertaking largely all of the export-import transactions.
“India's bilateral relations with Iran, and the US stand on their own merit and are not influenced by relations between other countries,”Puri said.
There is a lull in demand in overseas as well as domestic markets, said Colin Shah.
Exports contract for first time in 9 months in June as US-China tariff war affects shipments.
Compared sequentially, the services exports during the month were up by 3.4 per cent from $18.06 billion in April 2019.
Exporters in the “Denied Entity List” were refused further benefits under the export promotion schemes. The denials and penalties were imposed in the April 1, 2016 to March 31, 2019 period.
India's MSMEs and their business owners are finding new-age digital start-ups and alternate lending platforms to be the most effective institution to disperse credit.
He said the balance of trade is heavily in favour of Indonesia and both countries need to work towards establishing sustainable trade by diversifying the export basket.
The India-China bilateral trade last year touched a historic high of USD 95.54 billion, raising hopes that the trade this year could cross the historic USD 100 billion mark.
The annual growth rate of merchandise exports, the survey noted, fell from 10 per cent in 2017-18, to 8.8 per cent in 2018-19.
India is the only country on the top-10 list that saw a significant increase in sales from last quarter, said the report.
Sustaining high growth, creating jobs will need a strategy centred on building an export friendly ecosystem.
The widening current account deficit (CAD) of India indicates that imports exceed exports and hurts the economic growth rate.
"We are not a major player who commands 10% of the global trade. Therefore little downfall in trade will affect," he said.
The scheme, introduced by the commerce ministry in 2015, came to an end in March 2019.
Engineering exporters are seeking supply of steel at concessional prices so that MSME sector can compete in international markets.
Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service