Prime Minister Modi’s “Make in India” initiative can help India’s greater integration into global value chains through an exponential increase in trade and investment. Such integration would require transformational reforms in the area of trade facilitation.
Trade facilitation is much more than administrative reforms to reduce the paper trail and create greater transparency. These are important objectives, and credit must be given to the current government for expedited implementation of Customs single-window and other key reforms in the administrative process. But Customs is just one leg of the entire logistics process that supports connectivity to global value-chains. Trade facilitation needs to
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper