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Government estimates e-commerce exports to grow to $200 to $300 billion by 2030 

Foreign Trade Policy 2023: Focus on e-commerce export

Government estimates e-commerce exports to grow to $200 to $300 billion by 2030&nbsp;

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.&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
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The Foreign Trade Policy 2023, allows international trade settlement in Indian Rupee and seeks to meet $2 trillion export target by 2030

Foreign Trade Policy 2023: Seeks to boost exports to $2 trillion by 2030

The Foreign Trade Policy 2023, allows international trade settlement in Indian Rupee and seeks to meet $2 trillion export target by 2030

India has unveiled its Foreign trade policy 2023 and seeks to boost the country's exports to $2 trillion by 2030. The government reiterated sector specific targets to achieve the goal of $1 trillion merchandise exports and $1 trillion services exports by 2030. It is aiming to achieve this target by shifting from incentives to remission and entitlement based regime. "The flexibility in foreign trade policy will help grow export potential", said Commerce &amp; Industry Minister Piyush Goyal.&nbsp;
"Unlike the practice of announcing 5-year FTP, the latest policy has no end date and will be updated as and when needed", said Director General of Foreign Trade (DGFT) Santosh Sarangi. This new trade policy will come into effect from 1st April.
Piyush Goyal has said that the government will engage in massive trade outreach globally in terms of sectors and nations in the coming months. The government is also planning to promote exports through a collaboration of exporters, states, districts, Indian Missions. A revamp of e-certificate of origin platform is proposed to provide its self certification and automatic approval.&nbsp;
A major aspect of the policy is to allow international trade settlement in Indian rupee with a view of making INR a global currency. "India is ready to trade in Indian Rupee with countries which are facing currency failure or have dollar shortage", said Commerce Secretary Sunil Barthwal.
Foreign Trade Policy 2023 has introduced a new Amnesty scheme through which a one time settlement of default in export obligation by Advance Authorization and EPCG authorization holders can be done. This will be available upto 30 September 2023.
Dairy sector will be exempted from maintaining average export obligation. A series of items including battery electric vehicles, vertical farming equipment, wastewater treatment and recycling, rainwater harvesting system, rainwater filters and green hydrogen are added to green technology products. Under EPCG scheme green technology products eligible for reduced export obligation requirement. The Value limit for exports via courier service increased to Rs 10 lakh from Rs 5 Lakh per consignment.&nbsp;
The Foreign trade policy also ensures more recognition to exporters. The export performance threshold for recognition to exporters through status holders has been rationalised. This will enable more beneficiaries to achieve higher recognition and reduce transaction cost for exports.

The&nbsp;government has decided to lift the ban on the export of onion from January 1, 2021, the Directorate General of Foreign Trade (DGFT) said on Monday.&nbsp;The government had, in September, banned the export of all varieties of onion since domestic supplies were depleted.
The development came as the supply crunch seems to be easing with good winter harvests and brisk imports.
In the April-July period, the export of onions rose by an unusual 30%, causing prices to&nbsp;jump&nbsp;up to ₹100 per kg in the country.

Govt to lift ban on onion exports from January 1

The&nbsp;government has decided to lift the ban on the export of onion from January 1, 2021, as the supply crunch seems to be easing with good winter harvests and brisk imports

The&nbsp;government has decided to lift the ban on the export of onion from January 1, 2021, the Directorate General of Foreign Trade said on Monday.&nbsp;The government had, in September, banned the export of all varieties of onion since domestic supplies were depleted. The development came as the supply crunch seems to be easing with good winter harvests and brisk imports.
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The&nbsp;government has decided to lift the ban on the export of onion from January 1, 2021, the Directorate General of Foreign Trade (DGFT) said on Monday.&nbsp;The government had, in September, banned the export of all varieties of onion since domestic supplies were depleted.
The development came as the supply crunch seems to be easing with good winter harvests and brisk imports.
In the April-July period, the export of onions rose by an unusual 30%, causing prices to&nbsp;jump&nbsp;up to ₹100 per kg in the country.

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