New Delhi: On Monday, the Department of Global Trade Policy (DGFT) announced that it had recommended that banks and financial institutions provide pre- and post-shipment export credit in foreign currency to e-commerce exporters in accordance with the norms of the Reserve Bank of India (RBI).
E-commerce exporters or financial institutions may contact the DGFT if they encounter difficulties in obtaining such finance.
Given that the new Foreign Trade Policy 2023 is likewise geared towards encouraging exports via the e-commerce medium, this is of great importance.—Inputs from Agencies
