Merchandise exports must grow 27% CAGR to capture 5% world mkt: ex-advisor

Former FinMin advisor H A C Prasad says India's current share is a miniscule 1.7%, suggests policy changes to get to 5%

A former senior economic advisor to the Ministry of Finance, who penned two chapters on services and exports in the Economic Survey for 2017-18, says India's share in world merchandise exports is still very small at 1.7 per cent and that outbound shipments should increase by a CAGR of around 27 per cent over the next five years to raise the share to five per cent. China's share in the world merchandise exports is 13.2 per cent. 

H A C Prasad says while the task is formidable, it isn't impossible provided some policy measures are taken.

"While exports have started