India needs to ramp up exports if workers are to enjoy higher wages, according to a new report from the World Bank and the International Labor Organization.
While the link between exports and economic growth is widely accepted, the authors show how trade can help draw people out of the informal, or unregulated, economy and boost pay, thereby reducing poverty. They estimate that raising the value of India’s exports by $100 per worker would increase average annual wages by Rs 572 ($8) per person.
Nearly 10 million Indians enter the workforce every year in a country where almost 60 per cent of