Putting the spotlight on the immense potential in the Indian e-commerce exports sector, DG DGFT today stated that Indian e-commerce exports are likely to reach 200 billion US dollars in the next 6-7 years. Santosh Kumar Sarangi, DG, DGFT, mentioned that the growth will be supported by significant product diversity, product innovation, and the ability of Indian entrepreneurs to understand the requirements of specific markets and offer customised products.

Speaking at the E-commerce Exports conference, Santosh Kumar Sarangi said, “This is what gives us the confidence that in the next 6-7 years, we should be able to achieve around $200 billion of e-commerce exports. We need to bring about a lot of changes in the way logistics is handled in India, the way policy-making happens, and the way RBI looks at e-commerce exports; in all of these, we have to make a lot of changes.”

DG, DGFT also emphasised that consistency and transparency are crucial for achieving growth in the sector. He expects the fintech sector of India to play a key role in providing innovative and, more importantly, cost-effective payment solutions.

He further stated that, in order to create mass awareness among exporters, there is a need to establish a pool of mentors who will act as a fulcrum in handholding and guiding potential exporters in India.

The Indian e-commerce export ecosystem will evolve in a much more rapid manner and will play a major role in realising the target of achieving $2 trillion of exports of goods and services in the days to come, he asserted.

Source: CNBCTV 18