India should aim to export USD 350 billion worth of goods through e-commerce by 2030, according to a report by economic think tank GTRI.
Despite India's strengths in high-demand customized products, expanding seller base, and higher profit margins per unit of export, its current e-commerce export numbers remain far below their potential. Currently, e-commerce exports account for only USD 2 billion, less than 0.5 per cent of the country's total goods export basket.
To fully realize the potential of e-commerce exports, the report suggests developing the ecosystem for e-commerce exports and issuing a separate e-commerce export policy. The GTRI recommendations raising the value cap for e-commerce exports from Rs 5 lakh to Rs 25 lakh to allow exporters to choose the shipment mode as per their business requirements.
The report recommends that the government formulate a separate policy for e-commerce exports to address the pain points of the sector. Exporting through e-commerce channels can result in higher profits per unit of export, as businesses can cut out intermediaries like indenting agents, bulk buyers, and shopkeepers. The internet, technology, and secure online payments have made exporting via e-commerce simple and safe, enabling small firms from a wide range of cities and regions to participate in international trade. Over 100,000 Indian sellers are already exporting through e-commerce, and this number is set to multiply.