Commerce Ministry addressing issues of exports through ecommerce

The commerce ministry is actively working to address issues related to boosting exports through e-commerce channels, according to a senior government official. Santosh Kumar Sarangi, Director General of Foreign Trade (DGFT), also expressed that although achieving the ambitious goal of USD 2 trillion in exports by 2030, with an annual growth rate of 14.5 percent (CAGR), is challenging, it is feasible.

Sarangi stated, “We are making efforts to resolve challenges associated with seamless e-commerce for export promotion. We are collaborating with the Department of Revenue, RBI, Icegate, and the Department of Post to address issues such as duty remission and incentives, ensuring smooth flow of postal bills into Icegate, and creating a regulatory system that handles returns.”

Sarangi made these remarks during the inaugural edition of the India Business and Trade Annual Conclave 2023, organized by the Trade Promotion Council of India (TPCI) on May 23.

The TPCI’s conclave brought together government representatives, industry stakeholders, and academics to explore strategies for achieving the USD 2 trillion export target.

Sarangi further emphasized the positive link between higher exports and increased per capita income. To reach the USD 2 trillion goal, India is adopting a comprehensive approach, focusing on both demand and supply side aspects with appropriate policies.

Sanjeet Singh, Senior Adviser at NITI Aayog, and Noor Rahman Sheikh, Joint Secretary in the External Affairs ministry, were also participants at the event.

Mohit Singla, Chairman of the Trade Promotion Council of India, highlighted that the India Business and Trade Conclave will continue to play a pivotal role in discussing all facets of India’s foreign trade. The conclave aims to shed light on how the industry can benefit from government initiatives and concentrate on emerging areas of growth and potential.

The Trade Promotion Council of India (TPCI) serves as a preeminent organization for trade and investment promotion.