To cash in e-com boom, India Post launches online commerce portal

The Department of Posts (DoP), also known as India Post, has launched its e-commerce site to expand parcel business network.

Communications Minister Manoj Sinha in a tweet shared the development.

"IndiaPostOffice has launched e-commerce portal and I am glad that today I have received first parcel by this e-commerce portal," he said in a tweet.

@IndiaPostOffice has launched e-commerce portal and I am glad that today I have received first parcel by this e-commerce portal. pic.twitter.com/T38SLw3vbq

— Chowkidar Manoj Sinha (@manojsinhabjp) November 13, 2018

Though, he did not share any further details.

India Post is also yet announcing about the launch of the e-commerce portal. Entrackr's queries in this regard to communications ministry Manoj Sinha did not elicit any response till the publication of the post.

As per official sources, it is a soft launch and might take a month to be completely operational.

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.

In the last five years, the department has collected and remitted Rs 2,700 crore in CoD. Till January this year, it earned revenue was Rs 1502 crore.

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.

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