According to Commerce Secretary Sunil Bhaswal, the legal framework to boost the country's exports through e-commerce will be finalised by September.
He said China sells goods worth $300 billion annually through this channel, while India's exports are only about $5 billion, and he argued that there is huge room for growth in these exports.
A meeting was held in this regard involving relevant ministries including revenue, marketplace platforms and business leaders from logistics.
“We are working on setting up an e-commerce export hub in the country. We have discussed the framework for it. This is on our 100-day agenda,” Bhaswal told reporters here.
Asked when the framework would be completed, he said it would be completed by September. It could grow to US$50 billion to US$100 billion over the next few years. Small producers would find it easier to sell to aggregators through these hubs and the aggregators would then find markets to sell to.
“This will be a framework for e-commerce export hubs and a regulatory ecosystem. These hubs will be set up near airports and seaports,” he said. Apparel is one of the export items with great potential for the system.
As the export potential of this industry is huge, the DGFT, which comes under the Ministry of Commerce, in coordination with other relevant ministries like the Reserve Bank of India and the Ministry of Finance, is taking various initiatives to boost exports through e-commerce. These centres can expedite export clearances. In addition, they may also include storage space, customs clearance, refund processing, labelling, testing and packaging.
