New Delhi: in significant relief for micro and small exporters, including the rapidly growing segment of electronic trading exporters, India Reserve Bank of India (RBI) (RBI) (IDPMS) and importing data processing and monitoring system).
The new rules that are immediately effective allow an authorized dealer (AD) to close transactions with low value to £10 Lakh on the account based only on the exporter or importer, instead of detailed documentation and repeated inspection of compliance with the regulations, according to the circuit issued by the main CEO of RBI N. Senthil Kumar on Wednesday.
This step is expected to help especially micro, small and medium -sized enterprises (MSME), which often fight complex requirements for compliance in cross -border trade regulations.
Exporters can now align several small shipping accounts on a consolidated basis through quarterly statements. In addition, banks have been instructed to prevent sanctions for delay in compliance.
According to the order, RBI asked the banks to review and rationalize fees collected in these transactions and ensured that the services provided are proportional.
The leaders in the field claim that the change is a decisive step for the exporters of electronic trading in the country, many of which have been followed due to heavy burden.
“It’s Consistent and Sometimes Pushy Efforts of the E-Commerce Exporting MSMes with the Support of the Directorate General of Foreign Trade DECISIVE STEP TO ACCELATE E-commerce exports from Micro and Small Enterprises, “Said Vinod Kumar, President, India Forum SME.
Strengthening e-commerce
Kumar added that more than 82% of new e -commerce exporters who have withdrawn from the export market now have a strong reason to return.
“The government spoke quite openly and supported the need for it, and eventually agreed RBI and accepted our claims,” he said.
Government officials and business authorities expect this to facilitate entry obstacles for small businesses that embark on global electronic trading platforms, giving them flexibility for competition with larger exporters.
With the export of electronic trading identified as a key pillar for the Indian growth strategy, RBI moves are considered to be one that could add dynamics to the sector at a major intersection.
“This was a key request for MSMES and the narrow spots in accordance with the ability to maintain and grow their exports. For many of our members, especially in the technical sector, the costs and time involved in matching small values (EEPS).
“Relaxation RBI will relieve this point of pain, improve cash flows, and allow exporters to focus more on expanding markets rather than catching in procedural obstacles,” said Chadha, who represents almost 70% of MSME in this industry.
Export pressure
The Ministry of Trade is also working on increasing the export of electronic trading through the ECEHS Export Center (ECKS) aimed at supporting small and medium exporters, craftsmen and businesses by providing reserved cross -border trade zones. In addition, the government has taken measures such as increasing the export of courier exports £10 Lakh, expanding disadvantage of duty and remission of duties and taxes from balanced products (Rodtep) The advantages of exports of courier regime and introduction of more than 1,000 DAK Ghar Niryat Kendras (DNK).
According to Invest India, the Electronic Trading Market in the country is expected to reach $ 325 billion and the digital economy to $ 800 billion by 2030.
India with 881 million Internet users is the second largest online market in the world. Its growing digital economy could make it the third largest retail market by 2030, according to the Invest India report.
The global electronic trading market was awarded approximately $ 26.8 trillion in 2024, and according to the Mordor Intelligence market, it is assumed that by 2033 by 2033 it will increase to $ 214.5 trillion by 2033.
With me
- RBI significantly simplified the EDPMS/IDPMS procedure for transactions up to 10 ₹ Lakh, allowing advertising banks to close on the basis of a simple exporter or importer instead of a detailed documentation.
- This step is the main support for micro and small businesses, especially the rapidly developing electronic trading export sector, which has been plagued by a complex stress of compliance.
- Experts in the field, as well as the Indian forum for small and medium -sized enterprises, estimate that this regulatory relief could encourage more than 82% of the new exporters of electronic trading who have withdrawn from the market to return.
- Relaxation is expected to improve MSME cash flows and reduce the costs and time spent on procedural obstacles, which often prevails over the value of small shipments.
- This RBI decision is in accordance with the wider government effort, including the increase in courier exports to 10 lakhs and the establishment of DAK Ghar Niryat Kendras to place electronic trade as a key driving forces of Indian trade growth.
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