siliconindia | | JULY 202319Feb, hence, jackets/woolen clothes continue to sell across the year in different regions), a data-driven approach is key to winning in a highly complex business environmentFor retail exports, understanding compliance and regulatory aspects is of prime importance, and that's one of the major bottlenecks for new sellers to come on board. Our constant endeavor is to create awareness amongst the seller community across all touchpoints such as online and offline training programs, working with trade associations, and government bodies, leading and participating in various events.In your perspective, what are the future trends that may be predicted in the Indian cross-border commerce area, and where is the maximum growth coming from in this market?The rise of Indian SMBs has witnessed significant growth in recent years. With over 63 million MSMEs spread across India, small businesses contribute nearly 40 percent to India's exports, about 6.11 percent to the country's manufacturing GDP, and 24.63 percent to the GDP from the services sector. This surge can be attributed to factors such as increased digitalization, and favorable government initiatives like 'Make in India' and 'Digital India'. These SMBs have not only spurred economic growth but have also provided valuable employment opportunities for individuals.Future trends in India's cross-border commerce sector also indicate such significant growth opportunities. Indian businesses are increasingly interested in expanding their businesses internationally with maximum growth being shown in categories such as jewelry, auto parts, health and beauty, rugs, leather goods, and industrial products. To support this expansion, we plan to acquire more sellers in regions like Delhi, Surat, Jaipur, and Punjab. We also aim to strengthen our seller base in South India, with a focus on health and beauty, and jewelry. Moreover, we have also been collaborating with the Indian government and organizations like the GJEPC to boost sales of jewelry. We have also signed agreements with state governments to promote the growth of SMEs. How is India's export potential and the segment paving the way for the Indian economy?India's export potential is driving the Indian economy, and the government's initiatives are focused on maximizing this potential. This year's Foreign Trade Policy, for example, focuses on promoting exports and creating a favorable business environment. This policy aims to support sellers by streamlining trade processes and providing incentives to boost exports. The government has also raised the value limit for exports through couriers for e-commerce to Rs. 10 lakhs per consignment. This step enables more small and medium-sized enterprises to participate in international trade, thereby expanding the export sector and contributing to economic development.The government is also providing trade benefits such as subsidies and incentives to exporters. These measures are designed to encourage businesses to invest in export Ecommerce penetration in most of the emerging markets has significantly grown post the pandemic, and it continues to grow in double digits
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