To cash in online boom, India Post launches e-commerce portal
Source :NewsBharati   Date :22-Nov-2018

New Delhi, November 22: Leveraging its parcel business network, India Post on Tuesday announced the soft launch of its e-commerce portal. The e-commerce service that will be provided through India Post will start its full fledge operations of the service from around or after mid-December.

The Department of Posts has been focussing on e-commerce sector to increase its revenue receipts. The Department facilitates has collected and remitted more than Rs 2,700 crore under cash–on-delivery till January 2018 since its introduction in December 2013. The ongoing e-commerce business segment resulted in increase of 13 per cent revenue of India Post in the 2017-18 and total revenue the department earned under Speed Post till January 2018 was Rs 1,502.60 crore.

 

After seeing growth in its e-commerce focused logistics business, the postal department is keen to cash in the online boom in the country. The DoP plans to increase its revenue through online commerce. The DoP has the most widely distributed postal network of 1,55,015 post offices. It claims to have greater reach in tier 2 towns and rural regions. It has 57 delivery centers.

In September this year, Prime Minister Narendra Modi had launched India’s postal service which has also formulated an independent banking service called India Post Payments Bank.