Report recognised that India is one of the fastest-growing e-commerce markets. 

• E-commerce (electronic commerce) is the exchange of goods and services and the transmission of funds and data over the Internet. 

Key findings 

• Global: 
  • Crossborder e-commerce is driving global business-to-consumer (B2C) market. 
  • Global B2C market is valued at US$6 trillion and is projected to reach over US$8 trillion by 2026. 
• India: 
  • Domestic e-commerce market: It stands at US$83 billion as of FY22, which is expected to reach US$150 billion by FY26. 
    • Growing middle class, rising internet penetration, digitization of payments through UPI, etc. are the key drivers. 
  • E-commerce exports: For FY2023, export was between US$4-US$5 billion (0.9% to 1.1% of India’s total merchandise exports). 
    • E-commerce exports need 50-60 times increase to reach the $200-300 billion target by FY 2030.

Key challenges highlighted 

• Regulatory ecosystem is inclined towards B2B exports
• No separate law for e-commerce exports 
• Lack of demarcation of responsibilities between sellers and e-commerce operator
• Complex customs procedures

Key Recommendations 

• Implement and expand the scope of E-commerce Export Hubs (ECEH) 
• Increase courier consignment limit and streamline clearance. 
• Create Customs Supervision Codes