India’s e-commerce exports have a lot to complain about banking issues

Expansion of India’s e-commerce exports is being impeded by banking-related challenges, including a reluctance to process forex transactions through alternative channels and the imposition of high processing fees, the Global Trade Research Initiative (GTRI) said. To unlock the full potential of the sector and achieve a target of $350 billion in e-commerce exports by 2030, there is a need for a shift in mindset and a resolution of these banking issues that hinder growth and inflate operational expenses, GTRI said.