Indian Westerlies

  This is the second part in the two part series where we are looking at the e-commerce exports from India. The first part had set the context, and the second part now delves into the policy and regulatory aspects. The post was originally published here:  https://swarajyamag.com/business/e-commerce-exports-unlocking-the-potential-of-indias-msme-sector-in-international-trade   Imagine a rural artisan in India effortlessly connecting with an international customer, focusing solely on perfecting her craft while the system handles everything from product listing to payment settlement. This is the transformative potential of e-commerce exports, empowering MSMEs and entrepreneurs to participate in the global marketplace, aligning with the Prime Minister's vision of "Vocal for Local, Local for Global." However, realizing this vision requires a robust framework that addresses the unique challenges and opportunities of digital trade. In this second part, we explore the key eleme...

WTO released the draft handbook on measuring cross border e-commerce . For those with shortage of time, I am summarizing key points of our interest here.  The WTO Handbook on Measuring Digital Trade provides several key insights that are particularly relevant: Statistical Framework for Digital Trade : The Handbook introduces a comprehensive framework to classify and measure digital trade, focusing on transactions that are either digitally ordered or digitally delivered. This framework is crucial for policymakers to understand the scope of digital trade and its implications on traditional trade metrics and policies. Digital Trade's Impact on Policymaking : By providing detailed methodologies for measuring digitally ordered and delivered trade, the Handbook equips policymakers with the data needed to formulate informed trade policies. It emphasizes the importance of adapting trade policies to accommodate the growing digital economy, ensuring they remain relevant and effective in prom...

This is the first part in the two part series where we shall look at the e-commerce exports from India. The first part sets the context, and the second part delves into the policy and regulatory aspects. The post was first published at Swarajya magazine at:  https://swarajyamag.com/economy/this-category-in-e-commerce-can-fuel-indias-journey-to-1-trillion-in-exports-by-2030 India has set a goal of reaching USD 2 trillion in exports by 2030 - 1 trillion of this amount from exporting goods/merchandise and 1 trillion from services exports. This target was announced on the back of a record 776 billion USD of total exports achieved during FY23 – out of which USD 451 billion came through export of goods and USD 325 billion through services.  This financial year (FY24), though, because of global challenges, the combined exports in goods and services during April-Jan 2024 have remained stagnant at around USD 640 Billion, and it’s expected that the total exports would remain in the same...