‘Make in India’ a Hit in International Markets: eBay’s Small Online Business Trade Report
18 November 2021: ‘Make in India’ initiative by Prime Minister Narendra Modi aimed to revive an ailing manufacturing sector and to make India an integral part of the global supply chain seems to have found resonance with the country’s entrepreneurs. The report launched by export e-commerce platform eBay titled “India Small Online Business Trade Report 2021” stated sellers on its platform export ‘Made in India’ products to an average of 42 different foreign markets each year. In fact, of these 92 percent export to 10 or more markets, 93 percent export to four or more continents and as a collective they reached 210 markets.The top export destinations for India are the United States, United Kingdom, Australia, Canada and Germany.
The top export products from India include fine jewellery, loose diamonds & gemstones, home decor, bedding-related goods, ayurveda natural remedies, autoparts, and accessories, etc. Vidmay Naini, Country Manager – India & South East Asia, eBay, announced the key findings of the report at a virtual report launch event.
States with maximum sellers adopting cross-border trade on eBay are from Delhi, Rajasthan, Maharashtra, Bihar, Gujarat, Haryana, Punjab, Madhya Pradesh, West Bengal, amongst others. From Rajasthan, 39 percent of small businesses on eBay exported fashion jewellery and 35 percent exported loose diamonds and gemstones to customers in the US and the UK. Around 67 percent of SMBs from Madhya Pradesh traded in the bedding category.
The year 2020 and 2021 saw a number of SMBs entering the digital space, with most offline markets being shut due to the ongoing pandemic. eBay registered the maximum number of new sellers from tier-X (32%) and tier-Y (30%) and tier-Z (37%) cities instead of metros. These are smaller cities across tier-II, -III and beyond, with lesser business amenities and reach.
Furthermore, the top states and union territories with the highest share of new sellers on eBay were Bihar (67%), Himachal Pradesh (67%), Goa (50%) Jammu & Kashmir (50%), Jharkhand (50%), Karnataka (44%), Odisha (43%), Uttarakhand (40%), West Bengal (38%) and Gujarat (37%).