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Illustration: Binay Sinha
The beginning of a new term of government provides an opportunity to re-examine policy issues and undertake interventions to achieve higher, sustainable growth in the long term. One of those areas is trade. It is well known that international trade significantly drives aggregate demand, and no country can achieve rapid growth without expanding exports. Higher exports will reduce India’s dependence on foreign savings while creating much-needed jobs for its growing workforce. This will help stimulate domestic demand and generate a multiplier effect. By comparison, India is on track to become the third largest economy in the coming years. However, his share
First print: June 12, 2024 | 10:21 PM IST