Here’s how India can turbocharge e-commerce exports
₹1 crore in exports. Toys, ayurveda, home and kitchen products, and furniture are among the best-selling categories. The company says it expects to see many niche micro, small and medium enterprises (MSMEs) grow into global brands. There’s a big market to be tapped for Make-In-India offerings: the handloom fabrics, handcrafted shoes, artisan jewellery and toys. India must actively facilitate this development.
It isn’t just important for creating jobs and sustainable GDP growth but also for preserving India’s art and heritage by unlocking new markets for these products. Eliminating middlemen and improving price discovery for artisans will help integrate these traditional products into global markets. Recognising the promise of e-commerce exports, the Foreign Trade Policy (FTP) 2023, unveiled by the government in April, gave special attention to its specific needs.
The policy declared four new towns of export excellence: Faridabad for apparels, Moradabad for handicrafts, Mirzapur for handmade carpets and daris, and Varanasi for handloom products and handicrafts. But more is needed. For one, easing the value limit restrictions on exports through couriers could help.
The FTP 2023 proposed to double the value limit for exports from ₹5 lakh to ₹10 lakh per consignment. This isn’t good enough. The countries that these exporters typically face competition from do not have any limits at all.
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