DGFT: Indian e-commerce exports expected to reach $200 billion in next 6-7 years

The Director General of the Directorate General of Foreign Trade (DGFT) announced that Indian e-commerce exports are expected to reach more than 200 billion US dollars in the next 6-7 years, highlighting the enormous potential in the Indian e-commerce export sector.

According to Santosh Kumar Sarangi, DGFT, incredible product diversity, product innovation, and the ability of Indian entrepreneurs to understand the requirements of various markets to develop customised products will promote growth.

This is giving us confidence that we will be able to attain over $200 billion in e-commerce exports in the next 6-7 years. We need to make a lot of changes in how logistics is handled in India, how policy is made, and how the RBI perceives e-commerce exports; we need to make a lot of changes in all of these areas.

The Director General of DGFT also underlined the importance of consistency and transparency in attaining sector growth. He predicts that India’s fintech sector will play a vital role in providing innovative and, even more importantly, cost-effective payment solutions.

Further,  he stated that in order to raise public awareness among exporters, a pool of mentors who will function as a fulcrum in handholding and guiding potential exporters in India is needed.

The Indian e-commerce export ecosystem will expand substantially and will play a significant part in achieving the aim of $2 trillion in goods and services exports in the coming days, he said.