DIGITALIZATION OF TRADE: INDIAN EXPERIENCE

Economics

In the recent years, the world has seen a rapid advancement in technology. Digitalization is the process of converting information into a digital format and also the outcome of innovation and technological advancement. Digitalization is the use of digital technologies to change a business model and to provide new revenue and value-producing opportunities. Digitalization can greatly impact on the trade competitiveness of the countries, benefiting to those countries that are able to increase the digital content of the production and exports while adversely impact on those countries that are unable to catch up in the digital race. Digital trade comprises both digitally ordered trade in goods and services (cross-border electronic commerce (e-commerce)) and digitally delivered trade (services delivered internationally through the Internet or other networks). Several initiatives are being designed within the Digital India programme to accelerate India’s digital transformation and to improve digital content in India’s exports. In this context it is important to analyze and probe into the issues related to the Indian experience on digitalization of trade which is attempted in this paper.

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