Indian e-commerce exports likely to touch $200 billion in next 6-7 years: DG, DGFT

Putting the spotlight on the immense potential in the Indian e-commerce exports sector, DG DGFT today stated that Indian e-commerce exports are likely to reach 200 billion US dollars in the next 6-7 years. Santosh Kumar Sarangi, DG, DGFT, mentioned that the growth will be supported by significant product diversity, product innovation, and the ability of Indian entrepreneurs to understand the requirements of specific markets and offer customised products.

Speaking at the FICCI E-commerce Exports conference, Santosh Kumar Sarangi said, “This is what gives us the confidence that in the next 6-7 years, we should be able to achieve around $200 billion of e-commerce exports. We need to bring about a lot of changes in the way logistics is handled in India, the way policy-making happens, and the way RBI looks at e-commerce exports; in all of these, we have to make a lot of changes.”

DG, DGFT also emphasised that consistency and transparency are crucial for achieving growth in the sector. He expects the fintech sector of India to play a key role in providing innovative and, more importantly, cost-effective payment solutions.