According to the study ‘Exploring Potential of E-Commerce for Retail Exports of Indian MSMEs in Manufacturing Sector’, the total potential for business to consumer (B2C) e-commerce retail exports from India is estimated at approximately $26 billion, of which $2 billion can be achieved by 2020 from 16 product categories.
The study highlighted the need for the government to recognise e-commerce retail exports as an industry and work towards removing regulatory barriers, including reviewing the FTP policy and simplifying customs duty procedures.
The survey was prepared by the Federation of Indian Chambers of Commerce and Industry (FICCI), Indian Institute of Foreign Trade-Centre for MSME (micro, small and medium enterprises) Studies (FICCI-CMSME) and Apex Cluster Development Services, supported by e-commerce platform eBay India.
The study provides MSMEs with the requisite information to undertake e-commerce retail exports while exploring the untapped potential of the international B2C e-commerce market by leveraging the digital platform to bridge the gap between buyers and sellers.
It also aims to intensify the global reach of Indian MSMEs and enhance the export competitiveness of ‘Made in India’ products.
S.N. Tripathi, Additional Secretary and Development Commissioner, Ministry of MSME, said currently Indian manufacturers were producing locally for global markets and the study revealed that manufacturers were taking advantage of technology to reach global markets.
Alluding to various initiatives of the government of India such as ‘Zero Defect Zero Effect‘, Tripathi said the MSMEs should take advantage of schemes to improve the quality of their products and scale up their business, adding that the…