Team Blitz India
NEW DELHI: India’s e-commerce ecosystem is about to explode in the near future as exports may touch $200 billion during the next six-seven years from the current $1.2 billion, said Santosh Kumar Sarangi, (DG), Directorate General of Foreign Trade (DGFT).
Addressing the ‘E-commerce Exports’ conference, organised by the Federation of Indian Chambers of Commerce and Industry (Ficci), he emphasised on the immense potential of e-commerce exports.
His forecast is backed by the huge product diversity, product innovation and the ability of Indian entrepreneurs to gauge requirements of specific markets and offer customised products.
“Currently, India only exports a fraction of what China does in the e-commerce sector. In the next six-seven years, we should be able to do around $200 billion of e-commerce exports. (For that) we need to bring about a lot of changes in the way logistics is handled in India and the way policy making happens.
“Also, the way the Reserve Bank of India (RBI) looks at e-commerce exports. In all of these, we have to make a lot of changes,” Sarangi said.
Besides, Sarangi also asserted that India’s e-commerce export ecosystem will evolve in a rapid manner and play a major role in realising the target of $2 trillion of exports in the days to come.