Ebay India is lobbying the Ministry of Commerce to help grant ‘exporter’ status to sellers on its marketplace platform who ship their products overseas. This move was initiated by Latif Nathani right after he was appointed as the Managing Director of the marketplace and could have a major impact on the economics of the e-commerce marketplace for sellers who provide unique Indian goods. The export market is huge and sellers could easily carve a bit of the pie for themselves.
What are the benefits of an Exporter Status?
Besides getting their goods sold abroad, an Exporter status would bring some important benefits to sellers. An exporter is eligible to tax exemptions, $25,000 worth of Customs benefits, less paperwork, reasonable prices on credit and finally an easy way to deal with import regulations across different countries. This will definitely make life easier for sellers on top Indian marketplace platforms. Estimates show that this move could positively impact 45,000 retailers across 4306 cities and towns in India.
eBay India CEO – Latif Nathani
Mr. Nathani is confident that the Ministry of Commerce will grant the Exporter status to these retailer by the end of this fiscal year. Once this is done, sellers will be able to navigate global markets in a much better fashion and stand to get more sales in. Ultimately, this could give rise to vibrant online exporter economy dealing with not just unique handiwork and craft, but also with industrial products, furniture and many other categories where product quality is high. Sales coming in from other countries also means that it will help both the seller and the nation as a whole as far as the economics are concerned. Since Ebay is global brand, product visibility and audience size is much higher compared to its domestic equivalents. Ebay has around 120 million users in 201 countries.
We have a very good feeling about this and would recommend that online sellers plan ahead for this. Some of the things that you could do is to study the market abroad and figure out demand for the goods you are selling. See if you can figure out a supply gap in one of these markets and how best you can plug it.
We would love to hear your thoughts on this? Share them with us in the comments.
Editor team is specialized in introducing the marketplace content targeting the Indian online sellers. They plan and coordinate to bring the appealing content for the small businesses on how to partner with the e-commerce sites like Amazon and Flipkart and strategies for improving their online business.
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