PwC's Blueprint For India's $1 Trillion Exports Goal

PwC India has launched a report titled "VIKSIT: An Approach for India to Achieve USD 1 Trillion Exports," presenting a strategic framework aimed at boosting India's export capabilities to meet the government's ambitious target of $1 trillion in merchandise exports by fiscal 2030. Sanjeev Krishan, Chairperson of PwC India, emphasized the critical role of merchandise exports in contributing to India's GDP, noting the country's strong performance in services exports. He highlighted recent progress through initiatives like PLI and Make in India, which have set the stage for significant growth in merchandise exports. Krishan also acknowledged that while India's merchandise exports have grown by 14.4% recently, challenges remain that must be addressed to reach the $1 trillion target by 2029. The VIKSIT framework offers a comprehensive strategy to overcome these obstacles, focusing on value addition, inclusivity, and sustainability. Recommendations include enhancing value addition in exports, ensuring inclusive growth by increasing MSME contributions, and addressing the knowledge gap through skill development. The framework also emphasizes sustainability, ensuring growth that is both economically beneficial and environmentally responsible. The report positions the VIKSIT framework as a key tool in achieving India's vision of becoming a "Viksit Bharat."