Govt may Announce Steps to Promote E-commerce Exports and Imports in Budget 2021

The government of India in the budget next week is expected to announce various measures such as extending the facility of bulk clearance for e-commerce imports and exports with a view to promote the growth of this fast-growing segment in the country, sources said. The reports also noted that as there is a multi-fold increase in the e-commerce sector in the country, a significant volume of products is imported into and exported out of India through this platform and there is a need to find a balance between control and facilitation for the sector. Currently, importers and exporters are required to submit individual/separate clearance documents for each package with the Indian customs department, which adds cost for traders to conduct business through the e-commerce sector

Finance minister Nirmala Sitharaman will unveil the Budget for 2021-22 on February 1. According to exporters, easing of processes for the sector would further help in boosting the country’s outbound shipments

“With an aim to support the growth of the e-commerce sector in India, the facility for bulk clearance of import and export is required for e-commerce import and exports. Additionally, a simplified process in case of return of e-commerce shipments would also help in promoting the growth,” one of the sources said. Finance minister Nirmala Sitharaman will unveil the Budget for 2021-22 on February 1. According to exporters, easing of processes for the sector would further help in boosting the country’s outbound shipments.

“Extending the facility of bulk clearance is a good idea. Globally this facility is there. It will help in reducing transaction cost. if it is permitted, it would hugely benefit the e-commerce trade,’ Federation of Indian Export Organisations Director General Ajay Sahai said. A leather exporter said that the move if announced in the Budget would help promote exports through e-commerce medium.