India’s First E-Commerce Export Hubs May Launch In March

New Delhi, Jan 16 (KNN) India’s inaugural e-commerce export hubs are slated to become operational in March 2024, according to Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi.

The government has approved pilot launches for five companies across three major cities including Shiprocket and Cargo Service Centre in Delhi, DHL and Lexship in Bengaluru, and goGlocal in Mumbai.

The initiative comes as India seeks to boost its e-commerce exports, which currently stand at approximately USD 5 billion annually, significantly lower than China’s USD 250 billion.

The new hubs will feature self-sealing facilities without customs or BCAS examination at gateway ports, simplified reimport policies for returns, and on-site outposts for quality and certification agencies.

In parallel developments, Sarangi announced the upcoming second phase of the Trade Connect ePlatform, building upon its initial launch in September 2023.

The enhanced platform will incorporate additional services, including trade dispute resolution mechanisms, trade analytics, intelligence reports from overseas missions, and trade finance and insurance facilities.

The DGFT has also unveiled the Diamond Imprest Authorisation (DIA) scheme, scheduled to commence on April 1, 2024.

This initiative permits duty-free import of cut and polished diamonds up to 5 percent of eligible exporters’ average three-year turnover, with a mandatory 10 percent value addition requirement.

The scheme aims to establish India as a prominent hub for diamond processing and value addition.

The government’s commerce and revenue departments are collaborating with the Bureau of Civil Aviation Security to develop standard operating procedures for these export hubs.

Industry projections suggest that e-commerce exports have the potential to exceed USD 100 billion by 2030, with further growth anticipated to reach USD 200-250 billion in subsequent years.

(KNN Bureau)

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