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Budget 2021: Govt May Announce Steps To Promote E-Commerce

By Staff
|

In the Union Budget presentation scheduled for 1 February, the government is expected to announce measures such as extending the facility of bulk clearance for e-commerce imports and exports with a view to promoting the growth of this fast-growing segment in the country, sources told PTI.

 
Budget 2021: Govt May Announce Steps To Promote E-Commerce

The news agency's report said that as there is a multi-fold increase in the e-commerce sector in the country, a significant volume of products is imported into and exported out of India through this platform and there is a need to find a balance between control and facilitation for the sector.

Currently, importers and exporters are required to submit individual/separate clearance documents for each package with the Indian customs department, which adds cost for traders to conduct business through e-commerce.

"With an aim to support the growth of the e-commerce sector in India, the facility for bulk clearance of import and export is required for e-commerce import and exports. Additionally, a simplified process in case of return of e-commerce shipments would also help in promoting the growth," one of the sources told PTI.

According to exporters, easing of processes for the sector would further help in boosting the country's outbound shipments.

Read more about: budget 2021 ecommerce
Story first published: Wednesday, January 27, 2021, 11:29 [IST]
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