India Post’s e-commerce portal aims to boost parcel business network

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Mains Paper 2: Governance | Government policies and interventions for development in various sectors

From UPSC perspective, the following things are important:

Prelims level: E-commerce Regulation in India

Mains level: Providing e-market place for various groups of entrepreneurs.


News

  • Leveraging its parcel business network, India Post has announced the soft launch of its e-commerce portal.

Particulars of the Portal

  1. The primary objective is to provide a medium to sell products for small artisans and anyone who wants to sell their product can sell on the site.
  2. Unlike other e-commerce players, the India Post service will be able to pick up and deliver products in over 1.5 lakh places through its well spread out network.
  3. The products will be shipped through the postal department’s Speed Post service.
  4. A separate parcel directorate has been formed which is empowered to decide on the rates of parcel and other related issues.
  5. The Portal will provide an e-market place to sellers especially to rural artisans, self-help groups, women entrepreneurs, state and central PSUs, autonomous bodies to sell their products to buyers across the country.

Other initiatives

  1. The Minister also launched the internet banking facility for Post Office Savings Bank (POSB) customers who are under Core Banking Solution.
  2. Around 17 crore POSB accounts will be intra-operable and customers can also transfer funds online to RD (Recurring Deposit) and PPF (Public Provident Fund) accounts of post offices/

Why such move?

  1. The Department of Posts has been focussing on the e-commerce sector to increase its revenue receipts.
  2. The Department facilitates has collected and remitted more than Rs 27 billion under cash on-delivery till January 2018 since its introduction in December 2013.
  3. The ongoing e-commerce business segment has resulted in an increase of 13 per cent revenue of India Post in the 2017-18.
e-Commerce: The New Boom
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