Commerce ministry addressing issues of exports through ecommerce: Official

The Trade Promotion Council of India (TPCI), government, industry and academic deep dive to explore ways to reach USD 2 trillion in exports

Press Trust of India New Delhi
E-commerce, Online shopping

Listen to This Article

The commerce ministry is trying to address issues pertaining to the promotion of exports through ecommerce medium, a senior government official has said.

Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi also said that while the USD 2 trillion export target by 2030 is ambitious as it entails an annual growth of 14.5 per cent (CAGR), it is not impossible.

"We trying to address issues on seamless e-commerce for export promotion. We are in touch of the Department of Revenue, RBI, Icegate, and the Department of Post on the issues which entails remission of duties and incentives, ensuring postal bills flows into Icegate, building a regulatory system which addresses return back, etc, he was quoted by TPCI in a release.

The DGFT was addressing the TPCI's inaugural edition of India Business and Trade Annual Conclave 2023 here on May 23.

The Trade Promotion Council of India (TPCI), government, industry and academic deep dive to explore ways to reach USD 2 trillion in exports.

Research reveals a positive correlation between higher exports and higher per capita income. For achieving the $2 trillion target, India is focusing on both demand and supply side aspects with respective policies," he added.

Also Read

Goods and services exports may cross $750 bn-mark this fiscal: Piyush Goyal

ONDC to support small retailers against large tech-based e-com firms: Goyal

India should target $350 bn exports through e-commerce by 2030: GTRI

Union Minister Piyush Goyal pitches for startup database in country

Goods exports touched $447 bn in 2022-23; final numbers awaited: Goyal

G20 tourism track meet in Srinagar successful: Korean ambassador to India

Kerala has one of the best records in upholding workers' rights: CM Vijayan

Making efforts to set up chemical parks to meet domestic demand: Mandaviya

Have to link Indian market with innovation, says Dharmendra Pradhan

DIA to look at guardrails for AI via prism of user harm: Chandrasekhar

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

During his address, Mohit Singla, Chairman, Trade Promotion Council of India, said that India Business and Trade Conclave in the years to come will be at the forefront to discuss all aspects of India's foreign trade.

The conclave will also emphasise on how the industry will benefit from the initiatives taken by the government, focussing on emerging areas of growth and potential, Singla said.

TPCI is an apex trade and investment promotion organization.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: May 24 2023 | 8:14 PM IST

Explore News