India now needs to get into cutting edge technology to boost exports: Amitabh Kant

24 Feb 2021 Evaluate

Niti Aayog CEO Amitabh Kant has said that India now needs to get into cutting edge technology in order to boost its exports which will benefit sectors such as telecom, automobiles, battery storage devices, and solar energy, among others. He also pointed out that reforms that have been implemented post the pandemic would go a long way in facilitating this process. He added that thanks to the reforms process in India, key indicators such as GDP, FDI and trade have risen sharply and India has become a favoured destination for global investment.

Kant, speaking at the launch event for CII's report ''Foreign Trade & Investment in India: Unlocking Key Opportunities through Strategic Reforms'', further said the country is at the cusp of a transformation. He also said that the report now highlights the measures that the government needs to take in order to make India more competitive in the global market.

The CII report presents a detailed analysis of the policies that affect India's openness with respect to international trade, including tariff and non-tariff barriers, and FDI, the statement said. Against the background of the policy changes, the study analyses the trends and patterns of imports and exports and FDI inflows as also identifies on-ground issues being faced by companies in India. It also highlighted the need to participate in preferential trade arrangements with key partners, alongside leveraging existing ones, for realising greater export and FDI and increasing India's integration into the regional and global value chains.


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