An astounding 93% of eBay-enabled small businesses export to four or more continents, says eBay in its latest report “India Small Online Business Trade Report”. It shares insights around how SMBs in India use eBay’s marketplace to successfully sell to consumers in hundreds of export markets each year.
Vidmay Naini, Country Manager, India and Southeast Asia, said leveraging the benefits of new-age digitization and 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 that 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.”
Dr Ajay Sahai, Director-General and CEO, Federation of Indian Export Organizations (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 and 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.”
One of its key findings 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. 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.
Also Read: JP Morgan sues Tesla for breach of contract, seeks $162.2 million plus interest
According to the report, the highest number of eBay-enabled small businesses adopting cross-border trade are from states like Delhi, Rajasthan, Maharashtra, Gujarat, Haryana, Punjab, Madhya Pradesh and West Bengal etc. It also revealed 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 the 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.
Pingback: The RBI has set up nearly 2.5 lakh card point-of-sale terminals.