Provide exports policy support

27 MAR,2022 | MEDC


 

India has attained the $400 billion export target set for the current fiscal year. Given the near stagnant level of exports over the past few years, this is praiseworthy. There are reasons to celebrate, but this trend will not continue for long without policy support. To begin with, India needs to move away from protectionist tendencies and rationalize tariff structures. Higher tariffs hinder participation in global value chains, which is necessary for the sustained growth of exports. India also needs to rethink its decision to not join the Regional Comprehensive Economic Partnership (RCEP), which is now considered to be the world’s most dynamic trade alliance. RBI will need to manage the rupee proactively, so that it supports exports. The global economy is experiencing a difficult phase due to geopolitical tensions, and without adequate policy support our export performance is unlikely to be self-sustaining.

*Picture Credit: Google

Comments



Featured Posts



Recent Posts


EMERGING ISSUES IN AEROSPACE INDUSTRY: AN INDIAN PERSPECTIVE


Tourism and its contribution to the Economy


Interactive Meeting with Mr. Jaykumar Rawal Hon'ble Minister for Tourism & Employment Guarantee Scheme Govt. of Maharashtra


De-coding skills-based pro-bono


FOOD PRICE VOLATILITY


Food Inflation in India: An Assessment




Archive


© Copyright 2019 MEDC, All rights reserved
Website Design and Develop By: SCI Knowledge Interlinks