E-commerce exports to get boost from FTA with UK

The Comprehensive Economic and Trade Agreement (CETA) signed with the UK will facilitate e-commerce exports from India, as it exempts imports valued below 1,000 pounds from the proof of origin. Consignments valued under 1,000 pounds come under e-commerce and are sent through courier or post and not as bulk cargo on ships. The exemption will remove the requirement for exporters to get their products certified so that they can enter the UK with lower duties or duty-free. To promote exports through e-commerce, the government is setting up special hubs across the country. Global e-commerce exports are expected to touch $2 trillion in 2030 from $800 billion currently. India’s exports through this medium are only about $5 billion, as compared to China’s $250 billion annually, as per a report.