FIEO,eBay and PayPal tie up to boost Indian retail exports

The Federation of Indian Exportrs Organisations FIEO-the apex body of all export promotion council,commodity boards and exports development authorities in the country,eBay -India’s leading eCommerce market place,and PayPal-the leading global online payment provider,today formally announced their tie-upwill stimulate the growth of Indian retail exports to 100 million plus international consumers in 190 market and accept payments in up to 25 currencies.

 FIEO President Rafeeque Ahmed advised the exporters to take to aggressive market strategies.He further said,”Exports through e-commerce in the last three years have increased by 400 percent to $1.4 billion. It is expected to grow many-fold in the coming years,” he said the tie-up with eBay and PayPal would provide FIEO members an access to a target audience of over 100 million active eBay and PayPal users across the world.Ahmed said the tie-up would help especially the small and medium enterprises, who don’t have enough resources to reach to customers outside the country.”The marketing effort, which is quite a costly affair, will be drastically reduced for these companies with elimination of markup cost of intermediaries,”President said.  PayPal country manager Mayur Patel said: “As the exporters are able to reach the customers directly, there are no middlemen and it’s a win-win for both parties.”
 eBay India, which has over three million users in the country, is in talks with cargo service providers like DHL and FedEx for decreasing the transportation cost of logistics sold via online, eBay Country manager Muralikrishnan B said.

MSME Exporters have raised concerns of not getting refunds like duty drawback, when they use electronic payment options.“We have requested the Directorate General of Foreign Trade to recognise retail exports and extend export benefits to these exporters to help encourage exports through this channel,” Ahmed said.