Blitz Bureau
NEW DELHI: As India strives to achieve $1 trillion in merchandise exports by FY30, the role of public and private sector interventions becomes crucial towards creating a robust export ecosystem, a new report said on August 9.
From an Atmanirbhar Bharat to a Viksit Bharat, the country is taking rapid strides to move up the growth trajectory. A ‘VIKSIT framework’ by PwC India, launched by Minister of Commerce and Industry Piyush Goyal, can be leveraged over the coming years to enable a continuous dialogue on enabling competitiveness across the government and the private sector, said the report. The framework hinges on actionable insights that will contribute to India’s long-term economic success.
Sanjeev Krishan, Chairperson, PwC India, said that India’s rise to becoming the fifth largest global economy is mirrored by its increasing share in global trade, driven by a focus on export-led growth.
“We’re excited to introduce the VIKSIT framework, a strategic initiative designed by PwC to leverage the nation’s strengths and address key infrastructural and technological impediments to boost the country’s export potential,” he noted.
This report serves as a strategic blueprint for driving India’s export growth, offering a detailed roadmap with crucial steps to engage MSMEs, industry players and infrastructure developers, while ensuring long-term sustainability. Currently, just 1.36 per cent of India’s registered MSMEs are exporting, revealing a gap between export growth and MSME internationalisation. “Challenges such as the business environment, export procedures, finance access and market information hinder MSME exports and must be addressed to unlock India’s path to achieving $1 trillion in merchandise exports”, Krishan added.
