The trade landscape, as we know it, is changing: Is India prepared? has been saved
The trade landscape, as we know it, is changing: Is India prepared?
After a year of stupendous performance by exports, the question arises, can exports sustainably contribute to India’s GDP and help it achieve its ambition of becoming a US$5 trillion economy? There is optimism that exports can grow much faster, especially in services, given the emphasis on digitisation across the globe. The government too has been pushing the export growth agenda.
However, for an economy that is primarily driven by domestic demand, relying on a sustained contribution of exports to GDP is questionable. The trade landscape itself is changing dramatically with three defining drivers shaping trade of the future—technology, geopolitics and global exigencies, and climate change.
While all three drivers will be critical in redefining the trade landscape, the role of technology in trade is intriguing. As trade takes multiple leaps forward to Trade 4.0 with changing technology, it is redefining (and will continue to do so) what we trade, how we trade, and who trades what. What opportunities does Trade 4.0 present to India? What can the government and industries do to adapt to the changing trade landscape? To know more, please read our latest report.