India Post and Russia Post Forge Agreement to Enhance Cross-Border E-Commerce
New Delhi, December 5 (PTI) – The Department of Posts has finalized a significant bilateral accord with JSC Russia Post concerning the International Tracked Packet Service (ITPS), aimed at augmenting postal cooperation and facilitating e-commerce exchanges between India and Russia, as articulated in an official communiqué on Friday.
The implementation of the International Tracked Packet Service (ITPS) is set to establish a cost-efficient, trackable, and reliable logistics framework for low-value shipments—an essential asset in the burgeoning global e-commerce landscape.
According to the statement, “The Department of Posts and JSC Russia Post have formalized a bilateral agreement on the International Tracked Packet Service (ITPS), marking a pivotal advancement in reinforcing cross-border postal cooperation while accommodating the escalating volume of e-commerce transactions between the two nations.”
This service encompasses electronic advance data transmission, comprehensive end-to-end tracking, and delivery confirmations, thereby bolstering transparency, security, and the overall simplicity of customs clearance procedures.
Russia is increasingly recognized as a burgeoning market for Indian export goods, including health and wellness products, apparel, jewelry, home decor, and various sectors driven by micro, small, and medium enterprises (MSMEs).
Through preferential delivery rates established under this agreement, India Post will provide exporters with this service at competitive tariffs, enhancing price competitiveness and market accessibility for Indian sellers, the statement elaborated.
To enable small enterprises to penetrate global markets, the Department of Posts, in concert with the Central Board of Indirect Taxes and Customs (CBIC), has instituted 1,013 Dak Ghar Niryat Kendras (DNKs) across the nation.
A notable proportion of exports via postal channels originates from Tier-2 and Tier-3 cities, underscoring the increasing engagement of small businesses and individual entrepreneurs in the international commerce arena.
The initiation of ITPS with Russia is anticipated to particularly advantage MSMEs, artisans, start-ups, and rural entrepreneurs, empowering them to market their products on Russian e-marketplaces with competitive logistics rates and reliable delivery timelines.
In conclusion, “This agreement signifies the mutual commitment of India and Russia to deepen bilateral trade relations, foster digital commerce, and enhance collaboration in postal and logistics services,” the statement emphasized.
Source link: Money.rediff.com.
