Trade, import and export for MSMEs: The new five-year (2023-28) foreign trade policy (FTP) is expected to be launched in the coming few weeks after the current policy (2015-20), which has been extended multiple times, expires on March 31 2023. It was last extended in September 2022 by six months. In order to boost exports by MSMEs, e-commerce platforms, however, are hoping for a major focus on digital exports in the upcoming FTP.
Amazon, which has over 1 lakh sellers exporting goods through the Global Selling programme from India, expects the new policy to have a special focus on online exports that could help India achieve its $1 trillion export target by 2030.
Also read: MSMEs’ 45% export share includes contribution of large units too: DGFT’s Prafulla Chandra Mishra
E-commerce as a channel for exports has gained importance over the years as exporters are able to sell their produce directly to customers abroad without investing in a physical setup to reach the customers. Unlike traditional exports, e-commerce enables even a micro or small exporter to showcase their products to customers, enhancing their visibility alongside large exporters and hence, providing a level playing field.
Bhupen Wakankar, Director, Global Trade, Amazon
Subscribe to Financial Express SME (FE Aspire) newsletter now: Your weekly dose of news, views, and updates from the world of micro, small, and medium enterprises