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E commerce exports get governmental subsidy
E-commerce is the emerging route for exports
Mr.G.Chandrasekar Jan 05 2024 Exim & Trade News

E commerce exports get governmental subsidy

E commerce exports will be eligible for benefits conferred by the customs under the Remission of duties and Taxes on exported products RoDTEP according to a top functionary of the commerce department

 

The decision is expected to benefit the about two billion US dollars worth  exports through the courier or e-commerce route, said the Minister of Commerce and Industry MrPiyushGoyal.

 

E-commerce is the emerging route for exports and worldwide it is expected to touch 2 trillion US dollars by 2030. China has been the biggest beneficiary of this trend and its exports through e-commerce are expected to be 300-350 billion US dollars. 

 

In FY23, the RoDTEP supported 450 billion US dollars worth of exports at a cost of Rs 13,020 crore, while in 2021-22, the scheme aided 421 billion US dollars worth exports.