India is considering a green channel for e-commerce exports, drawing parallels from China's cross-border e-commerce-integrated pilot zones. These zones streamline customs procedures, promoting quicker shipment movement.
As per a report by the Economic Times, discussions between the commerce department and the revenue department are underway to streamline procedures for e-commerce exports. They are also working on a roadmap to create a green channel, aiming to accelerate the shipment process.
An unidentified official revealed that initial discussions are underway with the revenue department to determine the type of ecosystem and regulatory framework that can be established to ease the process of e-commerce exports. The aim is to create a conducive environment that facilitates and supports the seamless flow of e-commerce exports.
Setting up e-commerce export zones near airports is part of the plan, aiming to expedite export clearances, as per a source cited in the report.
Warehousing facilities for convenient storage, customs clearance, returns processing, labeling, testing, and repackaging will be available at the specialized e-commerce export hubs. This initiative is anticipated to benefit sellers who depend on online platforms, including social media like Instagram, to market and sell their products.
Marked significance is attached to this initiative as India aims for a compound annual growth rate of 12.2 per cent, targeting $1 trillion in merchandise exports by 2030. Cross-border e-commerce trade is identified as a pivotal contributor to meeting this goal, with India's current e-commerce exports through postal and courier routes estimated at $1.5 billion.
