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Business News›News›Economy›Foreign Trade›Developing e-com hubs to boost exports
may figure in ministry's 100-day agenda of new govt: Official



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DEVELOPING E-COM HUBS TO BOOST EXPORTS MAY FIGURE IN MINISTRY'S 100-DAY AGENDA
OF NEW GOVT: OFFICIAL

SECTIONS
Developing e-com hubs to boost exports may figure in ministry's 100-day agenda
of new govt: Official
PTILast Updated: May 01, 2024, 01:51:00 PM IST
Synopsis


INDIA AIMS TO BOOST EXPORTS THROUGH E-COMMERCE HUBS. COLLABORATION WITH
MINISTRIES AND INDUSTRY EXPERTS TO ENHANCE EXPORT OPPORTUNITIES. E-COMMERCE
EXPECTED TO DRIVE INDIA'S MERCHANDISE EXPORTS TO USD 1 TRILLION BY 2030.

Developing e-commerce hubs in the country to further promote India's exports
through online medium are expected to figure in the commerce ministry's 100-day
agenda roadmap for the new government, an official said. The commerce ministry's
arm DGFT is already working with the RBI and concerned ministries, including the
finance ministry, on several steps to promote exports through e-commerce medium
as huge export opportunities are there in the sector.


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The exercise assumes significance as ministries have been asked to prepare a
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The official said that these hubs can help further promote exports through
e-commerce mediums.

According to an industry expert, in such hubs, export clearances can be
facilitated. Besides, it can also have warehousing facilities, customs
clearance, returns processing, labelling, testing and repackaging.



"It will be a kind of bonded zone which will facilitate exports and imports of
e-commerce cargo and to a large extent address the problem of re-imports because
in e-commerce, about 25 per cent of goods are re-imported. These hubs are also
kind of export-oriented units and the private sector will have to come forward
for developing these hubs," Federation of Indian Export Organisations (FIEO)
Director General Ajay Sahai said.



Last year, the cross-border e-commerce trade was about USD 800 billion and it is
estimated to reach USD 2 trillion by 2030.



Recently, Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi has
said that there is a huge potential to increase exports through e-commerce
medium. Last year, the cross-border e-commerce trade was about USD 800 billion
and is estimated to reach USD 2 trillion by 2030.

"We need to reorient our policies to facilitate an e-commerce ecosystem and have
a larger pie in the e-commerce exports," Sarangi has said, adding that China's
e-commerce exports are about USD 350 billion, whereas India's shipments through
online medium is only USD 2 billion.

A report by economic think tank GTRI India's e-commerce exports have the
potential to reach USD 350 billion by 2030, but banking issues hinder growth and
increase operational costs.

India's e-commerce industry is driven primarily by small businesses that export
products valued between USD 25 and USD 1,000. The popular items include
Handicrafts, art, books, ready-made garments, imitation jewellery, gems and
jewellery, home dA©cor, ayurveda products and sports goods. These niche products
have found a market due to their unique artisanal values, the report has said.

India has set a target of USD 1 trillion of merchandise exports by 2030 and
cross-border ecommerce trade has been identified as a source to meet this aim.





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