Indian Economy News

Easy documentation, increasing awareness, and the role of post offices will help boost e-commerce exports: Report

According to a report by the industry group Federation of Indian Micro and Small & Medium Enterprises (FISME), steps including raising awareness, making documentation simpler, simplifying customs processes, and establishing standard operating procedures for product returns would aid in promoting the nation's exports through e-commerce. A reassessment of the current 25% would make it simpler to reconcile remittances for export receipts from overseas, and lower fees for the Export Data Processing and Monitoring System (EDPMS), are other changes that would benefit the sector.

About 90% of e-commerce exporters in India are medium, small, and micro enterprises (MSMEs) (most of them micro and small enterprises) and, therefore, a strategy for e-commerce exports must focus on MSMEs spread across the nation to sell their products to global markets, FISME said.

To enable information on the end-to-end e-commerce export process, the report has recommended a tripartite awareness-raising effort combining industry and SME associations like FISME, the government, and platform owners.

It asked for a green channel for e-commerce exports with simpler customs processes and quicker documentation for on-time delivery, as well as unique facilitative methods for cross-border payments, particularly with regard to bank closure procedures.

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