Foreign Trade Policy 2023: Focus on e-commerce export

Updated : Mar 31, 2023 18:52
|
Editorji News Desk

The Foreign Trade Police 2023, focuses on emerging areas including e-commerce exports, developing districts as export hubs, among others. All the foreign trade policy benefits will be extended to e-commerce exports.

Necessary enablement of IT systems in Department of Commerce, Post, CBIC will be undertaken in six months. To streamline e-commerce export facilitation, guidelines are being formulated in consultation with other ministries to facilitate further exports under e-commerce.

Apart from this, designated hubs with warehousing facility will be created. The warehouses are designed to help e-commerce aggregators for easy stocking, customs clearance and returns processing. The processing facility will be allowed for last mile activities such as labelling, testing, repackaging etc. Special outreach program and training activities for small e-commerce exporters will also be undertaken

The value limit for exports through courier service has increased from Rs 5 lakh to Rs 10 lakh per consignment. Government estimates suggest that the e-commerce exports expected to grow to $200-$300 Billion by 2030.        

 

 

foreign trade

Recommended For You

editorji | Business

Rupee breaches 91-mark against US dollar for first time in intra-day trade

editorji | Business

Microsoft commits USD 17.5 billion investment in India: CEO Satya Nadella

editorji | Business

CBI books Anil Ambani's son, Reliance Home Finance Ltd. in Rs 228 crore bank fraud case

editorji | Business

RBI raises FY26 GDP growth projection to 7.3 pc

editorji | Business

RBI trims policy interest rate by 25bps to 5.25pc, loans to get cheaper