We must develop a policy agenda that strengthens India’s competitive position through an analysis of a wide range of factors
The world has been closely watching India’s journey as it is on its way to becoming an economic powerhouse. As a global economic force on the rise, the need of the hour is to focus on development strategies in light of the nation’s expanding aspirations. A possible solution in this direction lies in the competitiveness approach. At the same time, the word ‘competitiveness’ has come to mean a variety of things: a larger market share, a competitive exchange rate, exports, and increased foreign direct investment (FDI) inflows, among others. Therefore, it is imperative to outline what we mean by competitiveness and how this definitional clarity can help us achieve our economic goals.