Confederation of Indian Industry Outlines Ten Point Agenda For Increasing India's Exports

The Confederation of Indian Industry (CII) outlined a ten-point agenda for increasing India's exports of goods and services in line with the Prime Minister's vision of an "Atmanirbhar Bharat". The CII report, entitled 'Re-orienting India's Export Endeavour in the Covid-19 World', states that India must aim to achieve 5% share in world merchandise exports and 7% in services exports by 2025.

The pandemic situation has impacted world trade negatively. However, it also provides a big opportunity for India to better engage with the world and boost its export performance. This is an opportune time for India to strengthen its domestic manufacturing through a strong partnership between the Government and Industry, noted Chandrajit Banerjee, Director General, CII.

 

CII has outlined ten areas where action is required to boost exports. These include, an open and facilitative import environment, a stable and predictable export policy regime, expansion in export finance must be expanded, expansion in Interest Equalisation Scheme, trade facilitation through digital tools, expansion of the Trade Infrastructure for Export Scheme (TIES), Ease of Doing Business reforms by the state governments, adequate funding for meeting quality standards, leveraging existing free trade agreements for exports and enter into FTAs with large market nations, openness to FDI for technology transfer and marketing promotion in top markets.

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