Posted by Delhi: The first eBay report revealed that 92% of Indian SMBs exported locally-made products to more than 10 foreign markets.
In its first edition, the eBay report ‘India Small Online Business Trade Report’ shares insights around how SMBs in India use eBay’s marketplace to successfully sell to consumers in hundreds of export markets each year.
One of its key findings is that 100% of eBay-enabled Indian SMBs sold ‘Made in India’ products to customers in an average of 42 different foreign markets each year. In fact, an astounding 93% of eBay-enabled small businesses export to four or more continents.
With the rise of e-commerce marketplace models, Indian SMBs saw an opportunity to leapfrog into the global e-trade value chain, which further saw an acceleration in the years 2020 and 2021.
As per the eBay report, the highest number of eBay-enabled small businesses adopting cross-border trade are from the states like Delhi, Rajasthan, Maharashtra, Gujarat, Haryana, Punjab, Madhya Pradesh, West Bengal, etc.
Secondly, as per the report, the eBay marketplace was enabling SMBs in growing states and union territories to achieve some state-level export development priorities.
In Rajasthan, 39% of eBay-enabled small businesses exported products in the Fashion Jewellery category and 35% exported products in the Loose Diamonds & Gemstone category to customers directly in US and UK markets. Whereas for SMBs located in Madhya Pradesh, Bedding was a popular export product category with 67% of SMBs exporting products from this category to the US or UK regions.
Our initiative, ‘India Small Online Business Trade Report’ is an indicator of how we are enabling SMBs to expand their reach into the international quarters; but more importantly, empowering them to dream big and compete at the international scale,” said Vidmay Naini, Country Manager – India & South East Asia, eBay.
“Digitalization and simplification of ecommerce exports processes is the way forward to increase exports and accelerate the growth. eBay has been successful in empowering Indian SMBs to establish their online international presence and export Indian products to more than 190 markets,” added Naini.
“The Indian SMBs are the growth drivers of the national economic structure as they are an integral part of the supply chain and contribute over 45% to the overall exports. The importance of the SMB sector is evident from the government’s numerous initiatives to catalyze its growth, making them more robust, competitive, and resilient in the national as well as in the global market,” said Dr Ajay Sahai, Director-General and CEO, Federation of Indian Export Organisations (FIEO).
According to Sabyasachi Ray, Executive Director, Gems and Jewellery Export Promotion Council (GJEPC), the gems and jewellery category has been one of the most significant categories in Indian export. With the economy gradually returning to normal, gems and jewellery exports gained momentum in the first half of the fiscal year.
“At GJEPC, we work extensively towards popularising ‘Make in India’ products and Indian craftsmanship globally. We acknowledge the fact that eBay has become a true partner to local sellers and artisans located not just in tier 1 but tier 2 and 3 cities of India, empowering them to sell their local products overseas,” said Ray.
Other key insights from the eBay report:
Top Five Export Markets for eBay-Enabled Small Businesses in India were the United States, United Kingdom, Australia, Canada and Germany
SMBs from Delhi and Haryana exported more than the national average of 42 export markets i.e., 49 and 56 markets respectively. But, interestingly, Bihar outperformed both these states by selling products to 66 export markets.
The rate of Newcomers/New Digital Enterprises in Tier Z cities was recorded at 37% which surpassed the national average of 32%. In fact, the rate was even higher than that of Tier X (32%) and Tier Y cities (30%).
The top 10 States & Union Territories with the highest share of eBay-enabled small business newcomers were Bihar (67%), Himachal Pradesh (67%), Goa (50%) Jammu & Kashmir (50%), Jharkhand (50%), Karnataka (44%), Odisha (43%), Uttarakhand (40%), West Bengal (38%), Gujarat (37%).