According to news agency PTI, the Department for the Promotion of Industry and Internal Trade (DPIIT) has received requests from ecommerce platforms to allow foreign direct investment (FDI) in inventory-based ecommerce platforms that export goods.
Currently, FDI is only permitted in ecommerce platforms that operate on a marketplace model. The DGFT is working on steps to promote exports through ecommerce, including the creation of ecommerce export zones and offering warehousing facilities and quick packaging clearance services.
The platforms are also working on convincing the Department of Revenue about the feasibility of an export-oriented unit (EOU) model focused on ecommerce exports. The DGFT is partnering with the Department of Post to streamline ecommerce exports and is exploring collaborations with private players such as Amazon, Flipkart, Walmart and eBay to promote ecommerce exports and raise awareness.
The DGFT expects India’s ecommerce sector to contribute to the growth of goods and services exports, aiming for a market size of USD 2 trillion by 2030.
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