Economic survey 2025: Need to look at regulation and compliance...
The Economic survey 2024-25 presented in parliament on friday called for looking at issues related to regulatory and compliance obligations to boost the country's exports through e-commerce. It said, there is immense potential for India's e-commerce exports to grow significantly and become a major contributor to the country's gross domestic product (GDP).
Immense potential for growth in e-commerce trade and export environment
According to the review, the e-commerce export environment in india provides growth opportunities as well as some challenges related to regulatory framework and compliance obligations. For example, the review said that the roles of sellers and e-commerce platform operators are not yet clearly defined. The review said, this requires collaboration between sellers and e-commerce companies at various stages of the export and payment processes.
Factors boosting India's e-commerce exports
It said, expansion of data connectivity, increasing smartphone penetration, increased availability and use of wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital wallets and secure online payments, rising income levels of customers and increasing familiarity with wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital shopping platforms have boosted India's e-commerce exports.
B2C e-commerce market to grow to $150 billion by 2026 - Economic Survey
According to the review, the global B2C (business-to-consumer) e-commerce market is expected to grow from $5,700 billion in 2022 to $8,100 billion by 2026. India's B2C e-commerce market was $83 billion in 2022 and is projected to grow to $150 billion by 2026, showing an annual growth of 15.9 percent.
However, in terms of current market size, India's e-commerce market is a small share of the global market, i.e. about 1.5 per cent, and is estimated to be about two per cent in the coming years. The government's e-commerce export hub (ECEH) initiative aims to revolutionise the country's cross-border e-commerce industry, the Economic survey said.
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