India's Strategic Roadmap for Global Trade Competitiveness

The Economic Survey 2024-25 underscores the importance of reducing trade costs and improving facilitation for India to remain competitive in global markets. By enhancing participation in global supply chains, India can boost export competitiveness. The survey calls for collaboration between government and industries to navigate the evolving global trade landscape.

The Economic Survey 2024-25 has spotlighted the urgent need for India to slash trade costs and bolster trade facilitation to maintain its competitive edge in global markets. The report asserts that enhancing India's presence in global supply chains is critical for uplifting export competitiveness.

According to the survey, while notable progress has been made, continued efforts are essential. The text highlights a shift from globalization to increasing trade protectionism in the global arena, fueling uncertainty. In response, it urges India to adopt a strategic trade roadmap to navigate these hurdles.

Key insights from the report indicate that despite past achievements, more action is needed. The survey notes that both government and private sector roles are pivotal in fortifying trade competitiveness. By prioritizing quality and efficiency, India can tackle trade barriers and carve a greater share in global markets, thus sustaining economic growth.

(With inputs from agencies.)