E-commerce exports from India are likely to touch US$200 billion by 2030, a senior Directorate General of Foreign Trade (DGFT) official said on Friday.
The official was speaking at a seminar on “E-commerce Exports: India’s Next Export Frontier” organized by the Federation of Indian Chambers of Commerce and Industry (FICCI).
The official said that the Indian e-commerce market is growing at a rapid pace and is expected to reach US$300 billion by 2025. This growth is being driven by factors such as increasing internet penetration, rising disposable incomes, and a growing demand for convenience.
The official also said that the government is taking a number of steps to promote e-commerce exports from India. These steps include setting up a dedicated e-commerce export cell within the DGFT, simplifying export procedures, and providing financial incentives to exporters.
In addition, the government is also working on developing a national e-commerce policy.
The official said that the government is confident that these measures will help India achieve its target of US$200 billion in e-commerce exports by 2030.
The FICCI seminar was attended by a number of industry experts, who discussed the challenges and opportunities of e-commerce exports from India.
The experts said that the challenges include the need for better logistics infrastructure, the need for more skilled manpower, and the need to build trust among consumers.
However, the experts also said that there are a number of opportunities for e-commerce exporters from India. These opportunities include the growing global demand for Indian products, the increasing popularity of online shopping, and the growing number of cross-border e-commerce platforms.
The experts called on the government to continue to support the e-commerce sector and to take steps to address the challenges faced by exporters.
The seminar concluded with a call for greater collaboration between the government, industry, and academia to promote e-commerce exports from India.
This is a positive development for the Indian economy, as e-commerce exports can help to boost economic growth and create jobs.
The government is taking the right steps to promote e-commerce exports, and these efforts should continue.
With the right support, India can achieve its target of US$200 billion in e-commerce exports by 2030.
