A blueprint for boosting exports

Nine suggestions to revitalise trade and spur economic growth

India’s foreign trade, valued at $1.63 trillion in financial year 2023-24, constituted 41 per cent of its gross domestic product (GDP), underscoring its vital role in the nation’s economy and job creation. The sector faces significant internal and external challenges. Here are nine suggestions for the new government to boost trade and economic growth.

Revive labour-intensive exports: Exports in most labour-intensive sectors were lower in 2023 compared to 2015. Key product categories include garments, textiles, fabric, yarn, fibre, carpets, leather products, footwear, diamonds, and gold jewellery. These sectors generate more jobs per unit of investment compared to others.

Bangladesh and Vietnam, relying