The Government of India has officially launched the National Blockchain Registry (NBR), a significant digital initiative aimed at enhancing the transparency and credibility of its extensive MSME (Micro, Small & Medium Enterprises) sector in global trade. The NBR is designed to digitally verify and secure critical data, including MSME credentials, complex supply-chain information, and essential export documentation. This system utilizes a permissioned blockchain, developed in collaboration with the National Informatics Centre (NIC) and Tata Consultancy Services (TCS), allowing India’s vast network of exporters to securely and immutably store invoices, certifications, and complete audit trails on-chain.
This strategic technological adoption directly addresses a growing international concern: rising complaints from global buyers regarding forged compliance certificates and inconsistent trade documentation originating from smaller Indian firms. By establishing the NBR, India aims to fundamentally bolster the credibility and trustworthiness of its 60+ million MSMEs within international markets. The platform is expected to yield substantial benefits, including a sharp reduction in trade fraud, a notable acceleration of customs and border clearance processes, and a significant enhancement of trust among key international buyers.
The move is specifically targeted at attracting European and Middle Eastern markets, where buyers are increasingly demanding verifiable, blockchain-based traceability for all imported goods. By providing this level of digital assurance, the NBR positions India’s small and medium-sized businesses to compete more effectively on the global stage and secures India’s status as a leader in applying blockchain technology to public economic infrastructure.
, a significant digital initiative aimed at enhancing the transparency and credibility of its extensive MSME (Micro, Small & Medium Enterprises) sector in global trade.){kind=link}