The US-based e-commerce major, Amazon, announced on Tuesday that the company’s exports from India touched the $1 billion mark and that it targets the sales to reach $5 billion by the year 2023. The export sales are being pushed as part of the Global Selling Programme started by the company in the year 2015.
At the beginning of the initiative, there were only a few hundred merchants, but the number is around 50,000 at present. In the year 2018, there was a 56% rise in the number of exporters as per Amazon’s annual ‘Export Digest’. The report also stated that the selection of Indian products in the international marketplace increased by 55% and the growth of the sellers shot up by 71%.
The Indian government has also supported e-commerce exports by way of reducing the documentation involved, establishing foreign post offices, and digitising custom clearance processes.
The Global Selling Programme was started by Amazon with the idea to give small and medium-scale businesses an opportunity to make their products available to the e-commerce platform’s 300 million customer base. The exporters who are currently on board cater to business-to-business and business-to-customer orders worldwide.
According to ET Tech, Walmart receives certain products from India for categories such as apparel, textiles, pharmaceuticals, and home furnishing. The country has become one of the major source countries of products.
The plan to upscale exports came in during a time when the Indian government has decided to increase India’s shares in world exports from 1.6% to a minimum of 3.4%
Source: Livemint and ET Tech