India should target $350 bn exports through e-commerce by 2030; needs separate policy: GTRI

GTRI said the current e-commerce export provisions in India are a patchwork over the rules framed for regular B2B exporters

India should target $350 billion worth of goods export through e-commerce by 2030 and for that the government needs to address pain points of the sector by taking steps like formulating a separate policy, a report by economic think-tank GTRI said.

The Global Trade Research Initiative (GTRI) said the current e-commerce export provisions in India are a patchwork over the rules framed for regular B2B (business-to-business) exporters.

India's e-commerce exports have the potential to grow at a faster pace than its IT exports did in the early 2000s, it said.

With Global business-to-consumer (B2C) e-commerce exports estimated to grow from $800 billion to $8 trillion by 2030, India's strengths in high-demand customized products, expanding seller base, and higher profit margins per unit of export place it in a prime position to benefit from this trend.

GTRI has identified 21 action points for accelerating the country's exports through online medium.

India's current e-commerce export numbers remain far below their potential. Currently, e-commerce exports account for only $2 billion, less than 0.5% of the country's total goods export basket.

“The country must plan to export $350 billion, or about one-third of its total goods, through e-commerce by 2030. This will require focus on developing the ecosystem for e-commerce exports to fully realize its potential,” the report said.