“An international body such as the UNCTAD could house it”, a senior government official said.
The discussions are at initial stages but the attempt is to push for tangible outcomes that can provide some solution, the official added.
It will attempt to push some of these issues at the upcoming meeting of the Trade and Investment Working Group, to be held in June Kewadiya in Gujarat.
The move, being discussed as part of the supply chain resilience initiative, is seen as a game changer for MSMEs that suffer from information asymmetry.
Such a portal could offer businesses concise information with geospatial mapping at one place about various practices and requirements of a particular country and aid in scaling up.At present the information available is scattered or not available in a free-flowing manner in many countries. New Delhi is of the view that a platform that provides complete visibility such as availability of raw material, location of suppliers, norms followed in a particular country can help guide small businesses and also help boost business to business cooperation.
“The idea is to facilitate diversification of value chains that can help lift growth in many parts of the world,” the official said, adding that the portal can help correct information asymmetry.
Another attempt would be to push for paperless trade besides standardisation of e-certificates and mutually recognisable standards.
New Delhi, which sees itself as a voice of global south, is of the view that these initiatives could substantially make doing trade easier and lift growth in the developing and least developed world.
India has already offered the template of PM GatiShakti in logistics and the difference that it can bring about in terms of effective monitoring of execution of projects and costs. PM GatiShakti National Master Plan is aimed at integrated infrastructure development, the National Logistics Policy seeks to bring efficiency in logistics services, and human resources through streamlining processes, regulatory framework, skill development, mainstreaming logistics in higher education and adoption of suitable technologies.
“PM Gatishakti has shown how it can be put to use for multiple areas for more effective execution,” another official said, adding it can help in scaling up logistics infrastructure supporting trade.
India took over the G20 presidency in December and Leaders’ summit in New Delhi will be a culmination of all the G20 processes and meetings held throughout the year among ministers, senior officials, and civil societies.