Reduce trade costs, increase export competitiveness

The Economic Survey 2025 says that uncertainty is increasing along with the changing global trade scenario due to increasing protectionism. In such a situation, India will need to increase trade competitiveness by reducing costs and improving facilities to boost export competitiveness.

The report says, ‘There has been a significant change in the global trade conditions in recent years. Moving away from globalization, trade protection is now increasing and uncertainty has also increased. In view of this, a new strategic blueprint is needed for India.’

It says, ‘There is still a lot to be done to increase trade competitiveness. The good news is that doing so is completely in our hands. For this, the industry will definitely have to continue investing on quality.’

The report mentions that despite adverse geopolitical conditions, India’s foreign trade performance is better.

Pointing out the risks of over-dependence on a single country for supplies, the chief economic adviser said China has a strong and dominant presence in many high and medium-tech sectors. “China’s share in global output is probably more than the combined share of the next 18 countries. This gives it a strategic advantage and a lot of benefits,” he said.