Why not zero-rate exports?
For India to realize its full export potential, and to increase its share of manufacturing in the economy, to create industrial jobs on a large scale, much needs to be done
India’s merchandise exports grew at 12% per annum for the period April to December in this fiscal year. This is a decent pace considering that until the middle of 2016, exports had been contracting for more than 18 months in a row. But the sobering fact is that even with 12% growth this year, the total annual exports achieved as of April 2018 will be lower than the corresponding number in April 2014. In four years, despite our relentless focus on manufacturing, on the ease of doing business, competitiveness and foreign direct investment, the total increment in exports is less than zero.