Exports: India's window of opportunity

The possibility of a sharp recovery for the economy can only be realised through a strong focus on exports.

The gains to an economy from engaging in international trade are well established. Since World War II, we have seen many countries grow on the back of rising investments and exports. Japan, South Korea, China, and to some extent, Thailand and Malaysia, are all examples of economies where exports played a major role in driving economic transformation. It has been clear for some time now that strong exports are crucial in driving development.

These countries recognised early on that all materials needed for production may not necessarily be the cheapest in domestic markets and so put in place liberal trade regimes