Grow Your Exports: A Guide to Cross-Border Business Growth

Grow Your Exports is a new playbook introduced by Meta to assist Indian brands in managing the challenges of international online retail. This initiative reflects the growing trend of cross-border e-commerce activity involving Indian enterprises.

A study commissioned by Meta and executed by Kantar reveals that almost 50% of the 14,591 consumers surveyed across a variety of markets reported making a cross-border purchase over the last six months. Additionally, the study highlighted that 71% of these consumers were willing to explore new brands found online, while 72% would consider shifting brands if an attractive offer or promotion was presented.

The Growth of Cross-Border E-Commerce in India

India’s cross-border e-commerce sector is witnessing considerable expansion. In 2023, international online retail sales from India surpassed $8 billion, with forecasts suggesting a 29% growth by 2025. Major e-commerce platforms are playing a key role in this development.

Challenges for Indian Businesses

Despite this growth, Indian enterprises encounter numerous obstacles within the cross-border e-commerce arena. An EY-ASSOCHAM report identifies complex customs procedures, issues with payment repatriation, and strict regulations as major hindrances. The report indicates that policy reforms are required in payment systems, customs, and logistics to enable Micro, Small, and Medium Enterprises (MSMEs) to tap into export markets and aid in achieving the government’s target of $200–300 billion in e-commerce exports by 2030.

Government Initiatives for E-Commerce Growth

In response to these challenges, the Indian government signed 13 free trade agreements and six preferential pacts with trading partners in 2023 to facilitate better access to global markets. Additionally, initiatives such as the Foreign Trade Policy aim to enhance the nation’s e-commerce exports, striving to position India as an export leader in the near future.

Insights from Meta’s Playbook

Meta’s playbook provides valuable insights on how to utilise digital tools to navigate challenges in the industry. The company stresses the significance of personalisation, noting that 62% of cross-border shoppers anticipate shopping experiences tailored to their preferences.

Embracing Digital Transformation

As cross-border commerce evolves, Indian brands are encouraged to adopt digital transformation strategies and make use of the available tools and policies to broaden their global reach.