Based on these proposals, further details, including software requirements for e-commerce export hubs (ECEH) to facilitate seamless and expeditious export clearances, will be finalised, the Directorate General of Foreign Trade (DGFT) stated in a trade notice.
After Finance Minister Nirmala Sitharaman in her Budget speech announced the establishment of e-commerce export hubs, modelled on similar initiatives in several Southeast Asian countries, the Ministry of Commerce and Industry has invited proposals to finalise the operational modalities of these hubs.
Based on these proposals, further details, including software requirements for e-commerce export hubs (ECEH) to facilitate seamless and expeditious export clearances, will be finalised, the Directorate General of Foreign Trade (DGFT) stated in a trade notice.
“In this regard, detailed proposal(s) for setting up ECEH may be submitted to this Directorate for examination, support, and guidance,” the DGFT said.
Initially, there are plans to set up 10-15 hubs across the country. These hubs would be designated areas, serving as centres with favourable business infrastructure and facilities for cross-border e-commerce activities.
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The main objectives are to ensure predictability and the shortest possible turnaround time for e-commerce exports, to facilitate easy re-imports for e-commerce returns or rejects, and to bring various cross-border e-commerce stakeholders under one roof.
While Micro, Small, and Medium Enterprises (MSMEs) and artisans in China, South Korea, Japan, and Vietnam have experienced a surge in exports through e-commerce, India’s exports via this route, at $5 billion, have only been a fraction of its total goods exports of $450 billion. In contrast, China’s exports through this medium alone have surpassed $300 billion.
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A report by the economic think tank GTRI suggests that India’s e-commerce exports have the potential to reach $350 billion by 2030, but banking issues hinder growth and increase operational costs. India has set a target of $1 trillion in merchandise exports by 2030, and cross-border e-commerce trade has been identified as one of the avenues to achieve this goal.
