India announces initiatives to realise full potential of e-com exports

India’s minister of commerce and industry Piyush Goyal has also unveiled the ‘E-Commerce Exports Handbook for MSMEs’, a comprehensive guide prepared by DGFT. This handbook is part of the Foreign Trade Policy 2023's objectives and is designed as a definitive guide for MSMEs to leverage e-commerce platforms for export expansion. The launch highlighted the collective efforts of various ministries and the private sector in crafting this resource, which provides strategies and insights for effectively tapping into global markets through e-commerce, the ministry of commerce and industry said in a media release.

The comprehensive handbook, initially released in four languages namely English, Hindi, Gujarati and Kannada, will be translated into all official languages across India, ensuring accessibility and benefitting consumers, entrepreneurs, farmers, and women entrepreneurs looking to contribute significantly to trade and commerce.

Minister Goyal also announced the extension of the Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) to courier and postal exports, marking a strategic enhancement to support SME sectors. The move is set to bolster the e-commerce exports and is aligned with the nation's ambitious goal to reach $1 trillion in merchandise exports by 2030.

India's Foreign Trade Policy 2023 has a stated objective to support cross-border e-commerce exports. The policy focuses on empowering artisans, weavers, craftsmen, and MSMEs. An Inter-Ministerial Working Group has also been constituted to address the challenges of e-commerce exporters and provide comprehensive solutions. E-commerce exports is one of the key focus areas in the Foreign Trade Policy.

Fibre2Fashion News Desk (KD)