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The Indian government is to launch an export ecommerce platform to encourage cross-border ecommerce in the country.
The platform will be aimed at Indian B2B companies who want to sell their products overseas and will have product quality and delivery time guarantees.
The platform forms a part of the government’s Make In India initiative, which aims to encourage Indian manufacturing, and will be run by the India Brand Equity Foundation (IBEF).
The government aims to attract 100,000 sellers to the platform soon after launch, and wants to add a further 500,000 sellers every year.
It will be going into direct competition with ecommerce giants such as Alibaba, which recently launched a Hindi version of its SMILE initiative, which aims to help small to medium sized Indian businesses export their products internationally.
A recent report by Goldman Sachs predicted that the Indian ecommerce market will be worth over 100 billion US dollars by 2020.