The Indian government has launched the FTP 2023-28 (Foreign Trade Policy) with the objective of boosting the country’s exports. As a part of this initiative, special emphasis has been given to e-commerce exports. In this article, we will take a closer look at the various measures that have been introduced to facilitate e-commerce exports.
Facilitation for E-Commerce Exports
One of the key highlights of the FTP 2023-28 is the extension of all FTP benefits to e-commerce exports. This means that e-commerce exporters will be eligible for the same benefits as traditional exporters. These benefits include duty credit scrips, duty exemption and remission schemes, and more.
To facilitate e-commerce exports, the Department of Commerce, Post, and CBIC (Central Board of Indirect Taxes and Customs) will undertake necessary enablement of IT systems within the next six months. Guidelines are also being formulated in consultation with other ministries to streamline e-commerce export facilitation and to facilitate further exports under e-commerce. Special outreach and training activities for small e-commerce exporters will be conducted, and industry and knowledge partners will provide handholding support.
Dak Niryat Facilitation
Under the FTP 2023-28, Dak Ghar Niryat Kendras will be operationalised throughout the country to work in a hub-and-spoke model with Foreign Post Offices (FPOs). This will help facilitate cross-border e-commerce and enable artisans, weavers, craftsmen, MSMEs in the hinterland and land-locked regions to reach international markets.
E-Commerce Export Hubs
Designated hubs with warehousing facilities will be notified to help e-commerce aggregators for easy stocking, customs clearance, and returns processing. Processing facilities will also be allowed for last-mile activities such as labelling, testing, repackaging, etc. This will help reduce the cost and time involved in the logistics of e-commerce exports.
In conclusion, the FTP 2023-28 has introduced several measures to facilitate e-commerce exports, which will help boost India’s exports and contribute to the country’s economic growth. The government’s focus on e-commerce exports will also help small and medium-sized businesses, artisans, weavers, craftsmen, and MSMEs to reach international markets and increase their earnings.