CII Identifies 31 High-Potential Indian Exports to Boost GDP
The global trade landscape has grown uncertain due to shifting dynamics and protectionist policies, impacting countries' Gross Domestic Product (GDP). To navigate this, the Confederation of Indian Industry (CII) has published a report, 'Indian Exports: The Next Trajectory', identifying 31 products with export potential and suggesting strategies to boost India's exports.
The report categorizes these products into 'Achievers', 'Aspirers', and those needing capacity enhancement. Achievers include high-value items like Jewellery and precious metals, Tractor accessories, Motor cars, and Women's blouses. Products requiring capacity boost include Cyclic hydrocarbons, Structures and parts, Medicaments, and Motor vehicles for transport of goods. Aspirers, with potential for growth, are Knitted or crocheted T-shirts, Turbojets, Refined copper, and Telephone sets.
To enhance India's exports, the report suggests bolstering domestic manufacturing and aggressive marketing in top destination markets. This is crucial as India's merchandise exports recently saw a decline of around 1.7%.
The CII's report highlights the importance of exports in driving India's economic growth. By focusing on these 31 products and implementing the suggested measures, India can enhance its export potential, contributing to a stronger GDP and improved economic prospects.
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