India, Feb. 5 -- Following finance minister Nirmala Sitharaman's announcement in her Union 2025 budget speech last week for setting up BharatTradeNet as a unified platform for trade and documentation and financing solutions, a senior government official has reportedly hailed the proposal, saying that there is a plan to build a separate agency to implement this project.

This platform, proposed on the lines of Unified Payments Interface (UPI), will aid in moving towards the shift to digitisation of complete trade documentation, while also allowing flexible operations of agencies involved, the PTI reported, citing director general of foreign trade (DGFT) Santosh Kumar Saranagi.

He also said that the project may take 2-3 years to take shape...