Tech, Government Support Driving Growth in India’s Exports: Akshay Ghulati

As overall exports in India witnessed a rise over the previous year, Akshay Ghulati, chief executive officer, international shipping, at Shiprocket, talks about five drivers of booming trade in India

Published 2 months ago on May 01, 2024 1 minute Read

01. Digital Boom

Internet explosion in India has created a digital marketplace teeming with potential buyers. This vast pool creates a fertile ground for sellers to propel their products onto the global stage. Moreover, digital tools facilitate seamless communication, transaction processing and order fulfilment, enhancing the efficiency and scalability of trade for Indian businesses.

02. Government Initiatives

Government initiatives like Make in India are fostering a robust manufacturing environment. These initiatives incentivise production, creating high-quality and competitive goods that are increasingly sought after by international buyers.

03. Free Trade Flow

Free trade agreements create a smoother pathway for Indian exporters to access international markets by enabling businesses to operate more efficiently, reducing bureaucratic hurdles and enhancing predictability in cross-border transactions.

04. Logistics Leap

From digital documentation systems for customs clearance to IoT-enabled tracking devices for cargo monitoring, technology is playing a pivotal role in orchestrating improvements. Investments in logistics infrastructure through technologies like blockchain optimise supply chain processes, making exports faster and more cost-effective.

05. ECommerce

Ecommerce platforms are facilitating India’s export growth by providing comprehensive solutions tailored to the needs of businesses. These platforms offer a seamless ecosystem encompassing international marketing, multi-currency payment processing and end-to-end logistics management.