India's e-com exports may hit $200 bn in next 6-7 years: DGFT

21 Nov '23

1 min read

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India's e-commerce exports may touch $200 billion in six to seven years from $1.2 billion now and its ecosystem will evolve in a rapid manner, Santosh K Sarangi, director general of the Directorate General of Foreign Trade, recently said.
This needs changes in the way logistics is handled, policymaking happens and the central bank looks at such exports.

India's e-commerce exports may touch $200 billion in six to seven years from $1.2 billion now, according to Santosh Kumar Sarangi, director general (DG) of the Directorate General of Foreign Trade (DGFT).

India needs to bring about a lot of changes in the way logistics is handled, policymaking happens and the Reserve Bank of India (RBI) looks at e-commerce exports, he told a conference on e-commerce exports organised by the Federation of Indian Chambers of Commerce and Industry (FICCI).

The country’s e-commerce export ecosystem will evolve in a rapid manner and play a major role in realising the target of $2 trillion of exports in future, he asserted.

Teaming up with other regulatory agencies, DGFT has taken several initiatives to ease e-commerce exports, he was quoted as saying by Indian media outlets.

The four key elements in the e-commerce business are logistics, e-commerce service platform providers, international payment systems and regulatory agencies, he added.

Fibre2Fashion News Desk (DS)

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