Exports to Play a Big Role in India's Economy

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Abhijit Kamra, director, Global Trade, Amazon India, and Dr Avik Sarkar professor, Indian School of Business (ISB), firmly believes that India has all the right ingredients to emerge as a strong export’s hub, ushering in the fourth industrial revolution.

In the 21st century, the power of the internet, combined with rapid digitization levels and use of machine learning and artificial intelligence can lead the nationals and citizens of India to the vision of Exports 2.0.  Exports 2.0 will enable small businesses to reach customers worldwide and create global brands 

This vision can empower millions of MSMEs across India to benefit from global market access, integration with global supply chains and enable them to create global brands. 

Global Market Access

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Very interesting opinion piece in the WSJ:

First, America must remove trade barriers on exports from the poorest countries, regardless of trade policies in those countries. With global market access, poor countries would automatically attract private investment, despite their institutional weaknesses. These institutions would become stronger over time as businesses flourish. Private investments capitalizing on access to global markets would necessarily employ low-cost labor, thus creating jobs.

Next, small entrepreneurs can be bolstered with seed money in the range of $25,000. Small entrepreneurs create jobs, products and services that form the bedrock of flourishing democracies. With some tangible changes in its operation, the International Finance Corporation (IFC) within the World Bank Group could promote development through entrepreneurs. The World Bank should stop lending to governments and be absorbed into the reformed IFC.

Read more here.