India’s first e-commerce export hub is set to become operational by March, aiming to boost exports to USD 100 billion by 2030. The pilot launch includes companies like Shiprocket and DHL, with features such as self-sealing and easy reimport policies. Additionally, a new Diamond Imprest Authorization scheme will start from April 1, promoting duty-free import of diamonds. The first e-commerce export hub in the country is expected to be operationalized from March this year, a senior Government official said on Wednesday. The pilot launch of these hubs has been approved for five firms – logistics aggregator Shiprocket and air cargo handling company Cargo Service Centre in Delhi; DHL and Lexship in Bengaluru; and goGlocal in Mumbai, Director General of Foreign Trade (DGFT), Mr. Santosh Kumar Sarangi said.
He said the Departments of Commerce and Revenue, along with the Bureau of Civil Aviation Security (BCAS), are working on formulating a standard operating procedure (SOP) to operationalize these hubs. “We expect the first e-commerce hub operational by March of this year,” he told reporters here. The key features of these hubs would include self-sealing with no customs/BCAS examination at gateway ports; easy reimport policy for returns; and onsite outposts for quality and certifying agencies. The move assumes significance as India is looking to tap into the growing export opportunities in this segment. E-commerce exports have the potential to grow to over USD 100 billion by 2030 and then further to USD 200-250 billion in the coming years.
India’s exports through this medium are only about USD 5 billion compared to China’s USD 250 billion annually. Sarangi also said the Directorate is working to launch the second phase of the Trade Connect e-Platform. The phase one was launched in September last year to provide all kinds of information related to exports and imports. “It will be implemented from April 1. The software module for this is under implementation and we will make it functional from the coming financial year,” he said. The scheme allows duty-free import of cut and polished diamonds up to a specified limit with 10% value addition. The Diamond Imprest License allows eligible exporters to import cut and polished diamonds, including semi-processed, half-cut and broken diamonds. Exporters can also import diamonds up to 5% of their average turnover from the past three years, with a requirement to add 10% value.
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