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Date: 25/07/2024

E-commerce export hubs to be set up

E-commerce export hubs will be set up in the country under a seamless regulatory and logistics framework, Finance Minister Ms Nirmala Sitharaman announced in her Budget speech on July 23, 2024. The Commerce Ministry’s arm, Directorate General of Foreign Trade (DGFT), has already been working with the Reserve Bank of India (RBI) and concerned ministries, including the Finance Ministry, on several steps to promote exports through the e-commerce medium as huge export opportunities are there in the sector. Recently, the Director General of Foreign Trade, Mr Santosh Kumar Sarangi, had said there is huge potential to increase exports through e-commerce. Last year, cross-border e-commerce trade was about $800 billion and is estimated to touch $2 trillion by 2030, as per a report.
 
Source: Exim News Service: New Delhi, July 24



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