India accelerates digital transformation of enterprises and increases import and export efforts

India's e-commerce market is one of the fastest growing in the world, and according to data, India's e-commerce sales are expected to grow to $200 billion by 2026. E-commerce has changed the way India conducts business, and many companies use online platforms to reach a wider audience, expand production scale and accelerate digital transformation.

Due to the impact of the COVID-19 pandemic on the Indian economy, the growth of India's small and medium-sized enterprises has become significantly more important for the country's economy to get back on track. The Indian government said that due to the impact of the COVID-19 pandemic, national development requires accelerated digitization across sectors, so small and medium-sized enterprises must be encouraged to take advantage of e-commerce opportunities to digitize, move online and build digital infrastructure that better promotes technology adoption.

Dhanendra Kumar, former chairman of the Competition Commission of India , said e-commerce is a great equalizer between big and small sellers, providing an opportunity to serve customers outside of one’s local area. “It provides the convenience of barrier-free cross-border trade, enabling exports through already established infrastructure and supply chains.”

According to a survey report by NASSCOM , India's e-commerce exports will reach $ 125 billion by 2030. E-commerce will become an important channel for achieving the export goals set by the Indian Prime Minister. Therefore, helping local products enter the international market through e-commerce and simplifying the compliance and regulatory requirements for e-commerce exports have become India's top priority.

In this regard, Kumar said: "Digitalization is the only way to increase India's exports and accelerate India's domestic economic growth. Small and medium-sized enterprises should create e-commerce profiles, accept digital payments, use advanced analytical tools, improve logistics services, integrate shipping services, and effectively use social media platforms to drive their growth."

“Indians are already taking the lead in big global companies. Hence, Indian businesses need to follow suit and capitalise on the opportunities presented by the start of the festive season to cater to the growing demand and purchasing power of the economy,” Kumar stressed.

India

E-commerce

import and export