E-commerce exports likely to get boost with easier documentation, simplified customs processes: FISME
Industry body the Federation of Indian Micro and Small & Medium Enterprises (FISME) in its latest report has said that the country's exports through e-commerce medium would get boost with steps such as increasing awareness, easier documentation, simplified customs processes and standard operating practice for product returns.
The report further listed other measures which would help the sector include lowering charges for Export Data Processing and Monitoring System (EDPMS); easier reconciliation of remittances for export receipts from abroad through a reassessment of the current 25 per cent variation between exports and payments; and raising the 9-month limit on receiving payments for exports for e-commerce.
According to the report, over 90 per cent of e-commerce exporters in India are MSMEs (most of them micro and small enterprises) and, therefore, a strategy for e-commerce exports must focus on MSMEs spread across the nation to sell their products to global markets. The report further suggested a tripartite awareness raising campaign involving industry and SME associations such as FISME, government and platform owners to facilitate information on end-to-end e-commerce export process.
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