Exports are a crucial driver in boosting our economy, creating jobs, and expanding markets for emerging businesses. It is crucial to know that our Honorable Prime Minister has emphasized on the significance of strengthening India’s exports and rebuilding our economy in the aftermath of the pandemic. India has surpassed the INR 3 Billion milestones in annual merchandise exports for the first time in history in FY 21-22, thanks to the unwavering commitment of different stakeholders. As India strives to become an export giant, e-commerce would be critical in realizing India’s export potential and achieving our goal of becoming a INR 350 trillion economy.
India’s exports will experience non-linear growth in the development of digitalization
The fast adoption of technology around us confirms our opinion that digitalization will be critical in boosting India’s exports to non-linear development. E-commerce offers Indian MSMEs a simple and scalable path to building strong worldwide brands and businesses, resulting in job possibilities in the ecosystem. We can contribute to the Hon’ble PM’s goal of an “Atmanirbhar Bharat” by empowering Indian MSMEs to harness e-commerce and promote exports from India.
India is ideally positioned to become an export hub
India is well-positioned to emerge as an export powerhouse, with rising digital adoption and advanced industrial techniques. We’re particularly excited about Amazon Global Selling’s current pace; the project’s exporters are on track to achieve INR 5 billion in aggregate exports. Importantly, the first billion dollars in exports took three years to enable, whereas the latter two billion came in just 17 months.
They’re doubling down on their vow to enhance exports, aiming for INR 20 billion$ in cumulative exports from India by 2025, spurred by this momentum, the fast use of e-commerce as an export platform, and expanding global demand for Made in India commodities.
Thanks to Amazon India’s online exports program, Global Selling, over 100,000 Indian exporters are already selling internationally. Non-metros account for a sizable portion of the program’s vendors, with many of them being first-generation companies with fresh brands.
Over 140 million dollars has been earned by these exporters. Amazon has created thousands of globally known brands, with total exports exceeding INR 210 billion. From a small group of exporters in 2015, the initiative has evolved to become a key driver of ecommerce exports from India. Its purpose is to assist Indian exporters in reaching out to customers all over the world via Amazon’s 18+ international marketplaces.
Amazon is devoted to making exporting simple for Indian businesses and enabling them to realize their full potential.” By 2025, we want to enable $20 billion in cumulative exports from India and contribute to overall exports from India.
Since the program’s inception, Amazon has been involved in developing the infrastructure and environment required to enable businesses of all sizes to export from India via eCommerce. To raise awareness about the benefits of e-commerce exports, the business has hosted on-the-ground events and seminars in India’s major export clusters. To emphasize the influence of e-exports, Amazon has worked with industry partners, trade groups, state and federal government authorities, and export councils.
The company claims to have invested in developing tools and services to help merchants sell globally from India. For sellers in the US market, Global Selling has recently developed a localised language experience. Folkulture is a Mumbai-based home design company led by Chaiti Jain and Rinkesh Mehta, a husband-and-wife team. The company expanded from a home-based operation to a well-known American home design brand. It became the very first Indian business to be a part of Amazon Global Selling program.
Post that phase, we’ve been able to expand our business reach, selling 200+ products across ten different categories, and there’s no turning back “Chaiti Jain, a Folkulture co-founder, stated. “We’ve been able to harness e-commerce to become one of the top home decor companies selling in the sector despite not having a local basis or established network in the United States.” Our company is growing at a 100% annual rate, and we’re pleased to collaborate with Amazon on further development and worldwide expansion” he says.