Several important steps taken to promote e-commerce exports in Foreign Trade Policy

Several steps have been announced in the Foreign Trade Policy (FTP) 2023 announced by the Central Government on Friday, such as giving FTP benefits to e-commerce exports, increasing the value limit of exports through courier to Rs 10 lakh per consignment. Along with this, it is expected that by 2030, the country’s e-commerce exports will increase to 200 to 300 billion dollars. Industry and Commerce Minister Piyush Goyal introduced the new foreign trade policy. In this, special emphasis has been laid on promoting e-commerce exports.

To this end, it is also proposed to create a special zone with warehouse facilities for e-commerce sellers to facilitate warehousing, customs clearance and return or exchange of goods. Apart from this, process center has also been allowed in the new policy for activities like labeling, testing and repackaging. Under the new policy, all benefits of FTP will be extended to e-commerce exporters. At the same time, the value limit of exports made through courier service has been increased from the existing Rs 5 lakh to Rs 10 lakh per consignment.

As per the policy, guidelines will be framed in coordination with other ministries to further facilitate exports under e-commerce. As per the policy, Post Office Export Centers will be operationalized across the country, which will act as foreign post offices to facilitate cross-border e-commerce and to enable artisans, weavers, craftsmen, remote MSMEs in remote areas to access international markets. Together they will work in a ‘hub-and-spoke model’. It also mentions special outreach and training activities for small e-commerce exporters and supports them in reaching out to industry and knowledge partners.

Sandeep Narula, Chairman, Electronics & Computer Software Export Promotion Council (ECS) said that emphasis on e-commerce exports, setting up of a consultative mechanism to address the concerns of the exporting community, amnesty for defaulting in export obligation, promoting exports Steps like better coordination with the states are welcome. “Achieving the export target of $2 trillion by 2030 requires key policy decisions in India and strong commitment from various stakeholders, including state governments, industry and the exporting community,” Narula said. The growth gives hope that this goal can be achieved.

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