Commerce Ministry addressing issues of Exports through ecommerce

NEW DELHI: The Commerce Ministry is trying to address issues pertainingtothepromotionofexports 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 exporttargetby2030isambitiousasit 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, hewasquotedbyTPCIinarelease.

The DGFT was addressing the TPCI's inaugural edition of India Business and Trade Annual Conclave 2023hereonMay23.

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 respectivepolicies,"headded.

Sanjeet Singh, Senior Adviser, NITI Aayog, and Joint Secretary in the External Affairs ministry Noor RahmanSheikh alsoparticipated.

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 aspectsofIndia'sforeigntrade.

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 investmentpromotionorganization.