A special policy will be announced to promote e-commerce import-export

Mumbai, Ta. Saturday, January 30, 2021

A special policy for e-commerce imports and exports is likely to be announced in the next budget to support the country's fast-growing e-commerce segment. E-commerce imports - exports are expected to be allowed to provide bulk clearance. The import-export of goods through e-commerce platforms requires clearance for each product.

The volume of import-export of products through e-commerce platforms remains very large, thus wasting time and expense in the clearance of each and every product. In view of this fact, the finance ministry is considering providing a mechanism for providing bulk clearance, government sources said.

During the Corona era, trade through e-commerce platforms in the country has multiplied. In any case, the process for return of products will also be simplified.

Finance Minister Nirmala Sitharaman is scheduled to present the budget on February 1. The new policy will help speed up the flow of goods sold through e-commerce platforms, especially exported goods.

Bulk clearance is provided to import-export trade on e-commerce platforms in many countries of the world. In India, the facility will benefit the country's e-commerce business, said an official of the Federation of Indian Export Organizations.

The growth of e-commerce companies in the country during the Corona period is expected to continue and sustain in the post-Corona period.