Chief Executive Officer, National Institution for Transforming India (NITI Aayog)
India’s aim to transform itself into a USD 5 trillion economy by 2024 is intricately linked with an export-oriented approach. With most of the world’s production concentrated in global value chains, a focused policy shift towards integrating with major global supply chains could lead to increased efficiency and growth for India. In this globalised world, India’s effective strategy on exports could be the key towards achieving the required double-digit growth, to surge the country ahead.
In this present crisis-hit world, while most countries are looking inward, India should use this opportune time to build its manufacturing capabilities to meet future global demand requirements. India’s exports would need to be boosted through several policy mechanisms, including the improvement of ease of business, promoting size and scale as well as adapting to global standards. This export-led growth strategy has been sought to be implemented through the Honourable Prime Minister’s vision of converting each district into export hubs. The necessary policy changes would need strong engagement from the States and Union Territories to identify export opportunities and develop their institutional structures.
In line with this new orientation, NITI Aayog has taken a significant step by developing the first-ever ‘Export Preparedness Index’ for Indian states. The Index ranks States and Union Territories on critical parameters required for promoting the country’s exports. The Export Preparedness Index would be useful to States and Union Territories to benchmark their performance against their peers and analyse the potential challenges and prospects to develop better policy mechanisms to foster export-led growth.
NITI Aayog will continue in its endeavour to develop insights and strategies to promote ‘competitive federalism’ to aid India’s mission of achieving robust economic growth. I am sure that the ‘Export Preparedness Index’ will provide analytical insights and policy actions to States and Union Territories which will significantly assist their understanding of future export opportunities, challenges ahead and best practices that can be emulated.
I congratulate the team at NITI Aayog, concerned Central Ministries and nodal officers from the State/Union Territories for coming together for the preparation of this document. I also commend the efforts taken by the Knowledge partners, Institute for Competitiveness in aiding of the development of the report.