New Delhi, Nov 14 (IANS) India’s export strategy must go beyond volume expansion to generate high-quality jobs, embed environmental responsibility and promote inclusivity, Shishir Priyadarshi, President of Chintan Research Foundation (CRF), said on Friday.

Speaking at an event here, he said that the test of India’s strategy will not be how fast we grow, but how sustainably we grow, and who benefits from that growth.

India’s total exports reached a record $824.9 billion in FY 2024–25, including $387.5 billion in services exports, underscoring the country’s growing trade influence.

However, sustaining this momentum will require greater focus on product diversification, value addition and improved ease of doing business for exporters.

“Also, India needs to realign its trade strategy to make exports the driving force of sustainable and inclusive growth,” CRF said in a statement.

Industry leaders at the event said that strengthening labour-intensive exports, improving logistics efficiency and leveraging Free Trade Agreements (FTAs) were identified as crucial to achieving India’s long-term growth ambitions and securing a greater share of global value chains.

“The productivity should be focused on technology, which, when harnessed with the skills, can produce modern age jewellery, making India the global leader in jewellery manufacturing,” observed Sabyasachi Ray, Executive Director, Gem and Jewellery Export Promotion Council (GJEPC).

Addressing the same event, he emphasised the need to strengthen India’s labour-intensive sectors such as gems and jewellery, textiles and apparel, which have strong employment potential and are critical to inclusive growth.

While India has signed multiple FTAs with key partners including the UAE, Australia and the EU, their benefits can only be realised through improved trade facilitation, logistics reforms and targeted support for exporters.

Faster policy execution and streamlined customs processes to reduce transaction costs, too, are key to production. Logistics modernisation and capital efficiency are key to lowering export costs and strengthening resilience.

India’s logistics costs need to be at par with those of competing economies, making the implementation of the PM Gati Shakti programme and the National Logistics Policy (NLP) essential.

Every percentage point saved in logistics adds billions to export competitiveness. Export competitiveness cannot be achieved in isolation. It requires coordinated reforms in finance, infrastructure, education and sustainability standards.

Deepak Bagla, Mission Director, Atal Innovation Mission (NITI Aayog), pointed out the growing synergy between innovation and trade.

“Export-led growth today is about exporting intelligence, not just goods. From services to semiconductors, India’s future lies in combining innovation with execution efficiency,” he noted.

The panellists concluded that India’s economic future depends on converting its domestic strengths into global advantage.

–IANS

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