India plans to build 50 e-commerce export hubs
₹4 crore is required. This amount doubles for medium-sized hubs and is about ten times more for large export hubs.
"The proposed regulatory framework is set to benefit e-commerce platforms and help small producers expand globally. It will simplify cross-border e-commerce by making procedures easier and reducing barriers for small businesses," said Siva Balakrishnan, founder & CEO of Vserve, an e-commerce firm.
According to the commerce ministry’s research body India Brand Equity Foundation (IBEF), India's e-commerce platforms reached a milestone with a gross merchandise value (GMV) of $60 billion in the fiscal year 2023, a 22% increase from the previous year. The Indian e-commerce industry is projected to reach $300 billion by 2030, experiencing significant growth, the IBEF report said.
Third-party logistics providers are anticipated to manage about 17 billion shipments within the next seven years, it added. India has around 936.16 million internet subscribers, including about 350 million mature online users actively engaged in transactions.
India has allowed 100% foreign direct investment (FDI) in B2B e-commerce as well as under the automatic route for the marketplace model of e-commerce. Queries emailed to commerce ministry spokesperson remained unanswered till press time.
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