FTP proposes e-commerce export hubs

The authorities’s new Foreign Trade Policy extends all export advantages to e-commerce abroad shipments, which it targets to develop to $200-300 billion yearly by 2030, and plans to create hubs for such exports with designated zones for warehousing. 

For starters, the worth restrict for exports undertaken by way of courier companies is being doubled to ₹10 lakh per consignment from ₹5 lakh, and IT methods could be deployed over the subsequent six months by the Departments of Commerce, Post and the Central Board of Indirect Taxes and Customs (CBIC). 

“We will also formulate a policy for e-commerce export hubs that will be designed to help e-commerce aggregators undertake everything from stocking to customs clearances and processing of returned orders,” Director General of Foreign Trade Santosh Kumar Sarangi stated. The hubs would additionally embrace a processing facility for final mile actions like labelling, testing and repackaging, as per the coverage. 

Beyond e-commerce, Mr. Sarangi stated a consultative mechanism was being created to resolve problems with commerce and Industry and there could be deeper engagement with States and Districts to advertise exports from the grassroot degree. “Sectors that feel that they haven’t got anything, need not be disappointed as the policy will be dynamic,” he assured.