Discuss the various export growth strategy which are required to strengthen the macroeconomic parameters of Indian economy. (200 Words)
Refer - Business Line
Enrich the answer from other sources, if the question demands.
IAS Parliament 3 years
KEY POINTS
· International trade posted a strong recovery in 2021 on the back of relaxation in pandemic associated restrictions.
· Globally, trade in goods is expected to reach record levels of $22 trillion in 2021, an increase of 23 per cent as compared to the levels in 2020, and 11 per cent as compared to the pre-Covid levels in 2019.
· The increase was not simply due to a low base-effect as merchandise exports were also an impressive 19.3 per cent higher than the pre-Covid levels in the corresponding period of 2019.
· Promoting trade resilience through regional integration has been a noticeable trend in 2021. The African Continental Free Trade Area became effective from January 2021, and the RCEP also comes into effect from January 2022.
· With production likely to outpace consumption growth, commodity prices are expected to gradually ease during 2022.
· The growth momentum in exports from technology-intensive sectors is likely to be bolstered through the implementation of schemes such as the Production-linked incentive scheme.
· Going forward, strengthening export infrastructure through State-level participation, striking mutually beneficial trade agreements, and diversification of exports basket towards technology-intensive sectors would be the core motifs of India’s export growth strategy.
Cibi Siddharth 3 years
kindly review and provide suggestions sir/mam
IAS Parliament 3 years
Good attempt. Kep Writing.
K. V. A 3 years
Kindly review
IAS Parliament 3 years
Good attempt. Keep Writing.
