Currently, India stands at the ninth position in global cross-border growth
Delhi: India’s e-commerce industry to become the second largest stands in the world by 2034, estimates a report by Shiprocket X, a cross-border shipping product by e-commerce enablement platform Shiprocket. Currently, India stands at the ninth position in global cross-border growth as per Shiprocket’s report titled “The State of Cross-Border Trade.”
Other key insights from the survey are as follows:
- India’s total merchandise exports are crossing $100 billion for the second consecutive quarter, following $105.8 billion during Q3 (October-December) of 2021-22. Key factors affecting this growth are the shift to e-commerce and the active participation of consumers in shopping with global retailers.
- India represents 20% of global e-commerce. With the necessary impetus for growth provided by the Indian government, the Indian export sector reached a total export revenue of $417 billion in FY 22.
- Gujarat contributes the highest to India’s overall exports, followed by Rajasthan and Delhi.
- MSME exports are playing a crucial role in powering 40% of India’s overall exports, contributing to approx. 6.22% of the country’s GDP. This is due to the increasing acceptability of Indian products in the international retail market.
- With around 63.4% million units spread across the geographical expanse of India, MSME exports are going to play the role of a catalyst in restoring the strength of the Indian economy.
Launched in 2017, Shiprocket is an e-commerce enablement platform providing digital retailers with an end-to-end customer experience platform. With more than 25 courier partners on board, the brand permits pan-India as well as international shipping deliveries. Its shipping solutions are available in over 24,000 pin codes and more than 220 countries and territories worldwide.
Shiprocket offers state-of-the-art fulfillment solutions with more than 45 warehouses located across India.
Currently, Shiprocket is the platform behind more than 270K sellers who generate a GMV of more than $3B annually. The platform delivers more than 220k shipments daily and is growing transactions 2.5-3 times year on year.
