92 pc of Indian SMBs exported products to more than 10 Int’l markets: eBay Report 2021
Global ecommerce player eBay has launched its ‘India Small Online Business Trade Report’ by hosting a virtual event. The report found 92% of eBay-enabled SMBs in India exported locally made products to more than 10 International Markets.
Another key finding is that 100% of eBay-enabled Indian SMBs sold ‘Made in India’ products to customers in an average of 42 different foreign markets each year. In fact, an astounding 93% of eBay-enabled small businesses export to four or more continents.
In its first edition, eBay’s report shares insights around how SMBs in India use eBay’s marketplace to successfully sell to consumers in hundreds of export markets each year. The report was unveiled by Ajay Sahai, Director-General & CEO, Federation of Indian Export Organisations (FIEO), Sabyasachi Ray, Executive Director, Gems & Jewellery Export Promotion Council (GJEPC), and Vidmay Naini, Country Manager – India & South East Asia, eBay.
With the rise of e-commerce marketplace models, Indian SMBs saw an opportunity to leapfrog into the global e-trade value chain, which further saw an acceleration in the years 2020 and 2021. As per the report, the highest number of eBay-enabled small businesses adopting cross-border trade are from the states like Delhi, Rajasthan, Maharashtra, Gujarat, Haryana, Punjab, Madhya Pradesh, West Bengal, etc.
Another striking trend revealed by the report was that the eBay marketplace was enabling SMBs in growing states and union territories to achieve some state-level export development priorities. In Rajasthan, 39% of eBay-enabled small businesses exported products in the Fashion Jewellery category and 35% exported products in the Loose Diamonds & Gemstone category to customers directly in US and UK markets. Whereas for SMBs located in Madhya Pradesh, Bedding was a popular export product category with 67% of SMBs exporting products from this category to the US or UK regions.
Commenting on the move, Vidmay Naini, Country Manager, India & South East Asia said “Leveraging the benefits of new-age digitization & pandemic induced e-commerce boom, SMBs in India have become pivotal to India’s growth story. At eBay, we connect millions of buyers and sellers in more than 190 markets around the world thereby providing export market access to Indian SMB’s to sell to the world. Our initiative, ‘India Small Online Business Trade Report’ is an indicator of how we are enabling SMBs to expand their reach into the international quarters; but more importantly, empowering them to dream big and compete at international scale.
He further added, “Digitalization and simplification of ecommerce exports processes is the way forward to increase exports and accelerate the growth. eBay has been successful in empowering Indian SMBs to establish their online international presence and export Indian products to more than 190 markets.”
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Dr. Ajay Sahai, Director-General & CEO, Federation of Indian Export Organisations (FIEO) said, “The Indian SMBs are the growth drivers of the national economic structure as they are an integral part of the supply chain and contribute over 45% to the overall exports. The importance of the SMB sector is evident from the government’s numerous initiatives to catalyze its growth, making them more robust, competitive, and resilient in the national as well as in the global market.
Sabyasachi Ray, Executive Director, Gems & Jewellery Export Promotion Council (GJEPC) said, “Gems & Jewellery category has been one of the most significant categories in Indian export. With the economy gradually returning to normal, gems & jewellery exports gained momentum in the first half of the fiscal year. At GJEPC, we work extensively towards popularising ‘Make in India’ products and Indian craftsmanship globally. We acknowledge the fact that eBay has become a true partner to local sellers and artisans located not just in Tier 1 but Tier 2&3 cities of India, empowering them to sell their local products overseas.”
Other key insights from the report:
Top Five Export Markets for eBay-Enabled Small Businesses in India were United States, United Kingdom, Australia, Canada and Germany
SMBs from Delhi and Haryana exported more than the national average of 42 export markets i.e., 49 and 56 markets respectively. But, interestingly, Bihar outperformed both these states by selling products to 66 export markets.
The rate of Newcomers/New Digital Enterprises in Tier Z cities was recorded at 37% which surpassed the national average of 32%. Infact, the rate was even higher than that of Tier X (32%) and Tier Y cities (30%).
Top 10 States & Union Territories with the highest share of eBay-enabled small business newcomers were Bihar (67%), Himachal Pradesh (67%), Goa (50%) Jammu & Kashmir (50%), Jharkhand (50%), Karnataka (44%), Odisha (43%), Uttarakhand (40%), West Bengal (38%), Gujarat (37%)