India’s e-commerce exports may touch $200 billion in six to seven years from $1.2 billion now, according to Santosh Kumar Sarangi, director general (DG) of the Directorate General of Foreign Trade (DGFT).
India needs to bring about a lot of changes in the way logistics is handled, policymaking happens and the Reserve Bank of India (RBI) looks at e-commerce exports, he told a conference on e-commerce exports organised by the Federation of Indian Chambers of Commerce and Industry (FICCI).
The country’s e-commerce export ecosystem will evolve in a rapid manner and play a major role in realising the target of $2 trillion of exports in future, he asserted.
Teaming up with other regulatory agencies, DGFT has taken several initiatives to ease e-commerce exports, he was quoted as saying by Indian media outlets.
The four key elements in the e-commerce business are logistics, e-commerce service platform providers, international payment systems and regulatory agencies, he added.