DGFT, Revenue Dept Aim to Boost E-Commerce Exports with Dedicated Hubs

ENA Sectors 2024-06-24 16:12:49 New Delhi, Jun 24 (KNN) In a strategic move to enhance India's position in the global e-commerce market, the Directorate General of Foreign Trade (DGFT) is collaborating with the Department of Revenue to establish specialised e-commerce export hubs across the country. This initiative aims to streamline the process for online export shipments and significantly boost India's e-commerce exports, which currently lag far behind competitors like China. Industry sources reveal that India's e-commerce exports stand at a modest USD 2 billion, in stark contrast to China's impressive USD 350 billion. The Indian government is determined to bridge this substantial gap by creating a more supportive ecosystem for e-commerce exporters. DGFT Director General Santosh Kumar Sarangi highlighted the need for streamlining the export process. We are working with the Department of Revenue to have designated e-commerce hubs so that clearance of goods happens fast, Sarangi told PTI. These hubs will feature dedicated customs and security checks, allowing cleared parcels to proceed through a green channel at airports without further inspections. The proposed hubs, to be built and maintained by private entities with government oversight on security and customs clearances, will offer a range of services including warehousing, returns processing, labelling, product testing, and repackaging. This public-private partnership model aims to create a robust infrastructure for efficient e-commerce exports. Ajay Sahai, Director General of the Federation of Indian Export Organisations (FIEO), suggested that these hubs could function similarly to bonded zones, further facilitating e-commerce exports. Experts believe that with appropriate policy reorientation, India's e-commerce exports could potentially reach USD 350 billion by 2030. The establishment of these dedicated hubs is seen as a crucial step towards achieving this ambitious target. As India seeks to carve out a larger share of the global e-commerce market, this initiative represents a significant move towards creating a more competitive and efficient export ecosystem for online retailers. (KNN Bureau) 38329 https://knnindia.co.in/news/newsdetails/sectors/dgft-revenue-dept-aim-to-boost-e-commerce-exports-with-dedicated-hubs 2024-06-24 16:12:49 knnindia.co.in DGFT, Revenue Dept Aim to Boost E-Commerce Exports with Dedicated Hubs