E-commerce expectations from Budget 2024. (Representative picture)
The e-commerce sector expects the Budget 2024 to give attention to digital infrastructure, simplified regulatory framework, ability growth for the e-commerce workforce, and assist for MSMEs in e-commerce
Even as Finance Minister Nirmala Sitharaman is about to current the Interim Budget 2024 on February 1, there are expectations from numerous industries. The e-commerce sector expects the Budget to give attention to digital infrastructure, simplified regulatory framework, ability growth for the e-commerce workforce, and assist for MSMEs in e-commerce.
Chirag Taneja, founder & CEO of e-commerce enabler Gokwik, urges the federal government to introduce insurance policies to assist digital-first manufacturers aiming to go the omnichannel approach. “With technological advancements shaping the e-commerce industry, and the rising role of enablers, the budget should also provide support for the growth of the enablers who are now forming the core backend in the growth of these brands. Overall, I believe budget 2024 will have a holistic approach centered around the growth of the e-commerce industry and take #MakeInIndia on a global scale,” he mentioned.
Vineet Agarwal, managing director of logistics agency Transport Corporation of India Ltd, “As we await the release of Interim Union Budget, the logistics sector stands poised for transformative measures that will fuel our journey to a $5-trillion economy. The forthcoming budget presents a significant opportunity to reinforce our commitment to enhance the ease of doing business.”
He added that within the Budget, continued give attention to advocating for an extended-time period perspective to construct bodily & digital infrastructure, incentivize multimodal logistics for carbon discount, and strong skilling initiatives for the 22 million employed within the sector needs to be the important thing priorities. “To boost EXIM trade and improve competitiveness, we need to maintain the momentum in investments and digitalization. With this approach, we’ll be able to move fast towards a more resilient and sustainable transport and logistics ecosystem for India.”
Balasubramanian A, vice-president of TeamLease Services, additionally enlists price range expectations for e-commerce:
Focus on digital infrastructure: Development of a strong nationwide digital infrastructure with inexpensive web entry in rural areas can improve e-commerce penetration and create as much as 5 lakh jobs in digital service supply and rural e-commerce companies.
Simplified regulatory framework: Streamlining rules and selling transparency in e-commerce platforms can increase investor confidence and appeal to Rs. 5,000-10,000 crores in investments, probably creating 2-3 lakh jobs throughout the e-commerce ecosystem.
Skill growth for the e-commerce workforce: Training applications for expertise like digital advertising, logistics administration, and knowledge analytics can enhance effectivity and appeal to a talented workforce, probably creating as much as 1 lakh jobs in e-commerce-particular roles.
Support for MSMEs in e-commerce: Initiatives like offering simpler entry to financing and coaching in on-line advertising may help small companies leverage e-commerce platforms and create important job alternatives in e-commerce-enabled MSMEs.
