BS EDIT: Targeted export strategy: Key to India’s trade revival

By Business StandardPublished On Dec 26, 2024

Focus on export growth

The commerce ministry plans to boost exports in six product categories across 20 key markets, addressing a two-year low in merchandise exports

Diplomats join trade strategy

Diplomats are prioritising trade talks, reflecting India's focus on making exports a central policy agenda

The FTA imperative

Early FTAs with the EU are vital for export access, replacing outdated trade ideas that ignore market-access trade-offs

Global value chains

Stable trade and tax policies are key to global value chain entry, but inconsistent tariffs and quality controls hinder India's access to high-end markets

Business reforms

Reforms in administration and judiciary are vital for business ease, with trade policies minimising hurdles to access global inputs and markets

Future of trade policy

India needs systemic trade reforms over target-setting to boost competitiveness, efficiency, and long-term export-driven economic growth