Import-export growth in India tied to e-commerce: Trezix's CRO

11 Aug '23

2 min read

Pic: Shutterstock/Achira22

Insights

There has been huge growth in India's import-export industry, especially the rise of e-commerce, noted Trezix's co-founder.
In an interview with Fibre2Fashion, he discussed how globalisation has led to increased demand for SMEs in international trade.
He also emphasised the influence of policies such as GST and e-Way bills in simplifying tax compliance.

The import-export industry in India is witnessing significant growth and evolving trends, particularly in the rise of e-commerce, noted Sunil Kharbanda, Trezix’s co-founder and chief revenue officer (CRO). In an interview with Fibre2Fashion, he also elaborated on how recent trade agreements and policy changes have influenced the sector.

“With globalisation and increasing trade volumes, the industry is witnessing a surge in demand for various products and commodities. One prominent trend is the rise of e-commerce, which has facilitated cross-border transactions and provided new opportunities for small and medium-sized enterprises (SMEs) to engage in international trade. Additionally, there is a growing focus on diversifying export markets and product portfolios to reduce dependency on a single market or product,” he told F2F.

He emphasised that implementation of initiatives like the Goods and Services Tax (GST) and the introduction of e-Way bills have simplified the tax regime and improved compliance. “Bilateral and multilateral trade agreements have opened up new markets and increased market access for Indian exporters. To foster further growth, it would be beneficial to focus on reducing trade barriers, enhancing infrastructure, and investing in skill development to boost competitiveness in the global market,” Kharbanda added.

Click here to read the full interview.

ALCHEMPro News Desk (NB)

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