Budget: Steps to up ecommerce exports, imports likely

Govt may announce steps in Budget 2021 to promote ecommerce exports, imports

Easing of processes for the sector would further help in boosting the country's outbound shipments, say exporters

Representative image. Credit: iStockPhoto

The government in the budget next week is expected to announce measures such as extending the facility of bulk clearance for ecommerce imports and exports with a view to promoting the growth of this fast-growing segment in the country, sources said.

They said 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.

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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 e-commerce.

"With an aim to support the growth of the ecommerce sector in India, the facility for bulk clearance of import and export is required for ecommerce import and exports. Additionally, a simplified process in case of return of ecommerce 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.

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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 ecommerce 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 ecommerce medium.