ENA Sectors 2025-01-16 13:59:35 <p><span style="font-size:14px"><strong>New Delhi, Jan 16 (KNN)</strong> India's inaugural e-commerce export hubs are slated to become operational in March 2024, according to Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi.</span></p> <p><span style="font-size:14px">The government has approved pilot launches for five companies across three major cities including Shiprocket and Cargo Service Centre in Delhi, DHL and Lexship in Bengaluru, and goGlocal in Mumbai.</span></p> <p><span style="font-size:14px">The initiative comes as India seeks to boost its e-commerce exports, which currently stand at approximately USD 5 billion annually, significantly lower than China's USD 250 billion.</span></p> <p><span style="font-size:14px">The new hubs will feature self-sealing facilities without customs or BCAS examination at gateway ports, simplified reimport policies for returns, and on-site outposts for quality and certification agencies.</span></p> <p><span style="font-size:14px">In parallel developments, Sarangi announced the upcoming second phase of the Trade Connect ePlatform, building upon its initial launch in September 2023.</span></p> <p><span style="font-size:14px">The enhanced platform will incorporate additional services, including trade dispute resolution mechanisms, trade analytics, intelligence reports from overseas missions, and trade finance and insurance facilities.</span></p> <p><span style="font-size:14px">The DGFT has also unveiled the Diamond Imprest Authorisation (DIA) scheme, scheduled to commence on April 1, 2024.</span></p> <p><span style="font-size:14px">This initiative permits duty-free import of cut and polished diamonds up to 5 percent of eligible exporters' average three-year turnover, with a mandatory 10 percent value addition requirement.</span></p> <p><span style="font-size:14px">The scheme aims to establish India as a prominent hub for diamond processing and value addition.</span></p> <p><span style="font-size:14px">The government's commerce and revenue departments are collaborating with the Bureau of Civil Aviation Security to develop standard operating procedures for these export hubs.</span></p> <p><span style="font-size:14px">Industry projections suggest that e-commerce exports have the potential to exceed USD 100 billion by 2030, with further growth anticipated to reach USD 200-250 billion in subsequent years.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 40662 https://knnindia.co.in/news/newsdetails/sectors/indias-first-e-commerce-export-hubs-may-launch-in-march 2025-01-16 13:59:35 knnindia.co.in