Shiprocket, CSC To Pilot India's Inaugural E-Commerce Export Hubs
Date
11/15/2024 2:09:44 PM
(MENAFN- KNN India)
New Delhi, Nov 15 (KNN) The government has selected Gurgaon-based Shiprocket and Mumbai-based Cargo Service Centre (CSC), to pilot the nation's first e-commerce Export Hubs (ECEH), according to Director General of Foreign Trade Santosh Kumar Sarangi. The initial hubs are scheduled to begin operations near Delhi airport in February 2025.
These specialised facilities will streamline export processes by offering in-house customs and security clearance, quality certification services, and simplified reimport procedures that allow duty-free returns of rejected consignments.
The pilot program's performance will inform comprehensive guidelines for future nationwide expansion, potentially requiring adjustments to existing regulations across various departments, including the Bureau of Civil Aviation Security.
The initiative aims to significantly boost India's e-commerce export capabilities, with projections suggesting potential growth fr0m the current USD 5 billion to over USD 100 billion by 2030, and possibly reaching USD 200-250 billion in subsequent years.
This growth target appears ambitious yet achievable within the context of global e-commerce exports, which are expected to reach USD 2 trillion by 2030 fr0m the present USD 800 billion.
The development follows China's successful model in e-commerce exports, where such activities constitute 6.4 per cent of total merchandise exports in 2023, compared to India's modest 1.14 per cent.
China currently exports approximately USD 250 billion annually through e-commerce channels, setting a benchmark for emerging markets.
Sarangi emphasised that these hubs will facilitate exports of diverse products, including pharmaceuticals, textiles, apparel, jewellery, Ayush products, and beauty items, particularly benefiting exporters fr0m interior regions.
The initiative, originally outlined in the Foreign Trade Policy of 2023, began accepting pilot program applications in late August.
(KNN Bureau)
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