Amid minimal year-on-year growth in overall exports for the 2024-25 financial year (FY25), sources have indicated that the Commerce Ministry is preparing a proposal to address the short-term credit requirements of e-commerce exporters.India’s total exports in FY25 rose by just 0.08% year-on-year, reaching $437.42 billion.
According to sources, discussions are ongoing between the Commerce Ministry and the Reserve Bank of India (RBI) to expedite the reconciliation of export payments. This forms part of a broader government effort to boost e-commerce exports.
The proposal includes support for exporters with overseas warehouses through lower borrowing costs. A note is also being prepared for approval by the Expenditure Finance Committee to further encourage exports.At present, India’s e-commerce exports stand at approximately $5 billion, in sharp contrast to China’s $250 billion.Earlier this year, the government stated that joint efforts were being made by the Department of Revenue, the Ministry of Commerce and Industry, and the Bureau of Civil Aviation Security (BCAS) to develop a Standard Operating Procedure (SOP) for the establishment of e-commerce export hubs.Also read: India eyes ending import tax on US ethane and LPG in trade talks
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