Government asks e-comm firms to push exports

In order to promote small and medium businesses (SMBs) in India, the government is talking to e-commerce firms to help SMBs sell their products across the world. It has asked online marketplaces to identify potential products manufactured in small regions or districtsthat can be exported to other countries. A government official said that this idea has been mooted to bring down trade deficit and also promote interests of small enterprises in remote regions. India’s exports have been relatively stagnant since the financial year 2012. On the other hand, the value of goods imported to India has risen sharply, which has widened the trade deficit to US$ 176.42 billion in FY19.