Export led growth is vital for Indian economy. Post liberalization, India’s growth story, largely based on domestic consumption is over. Having said that we have to do a lot catching with neighbors in scaling up in global trade market. For example, India’s share in the global trade export in merchandise is just about 1.7% and 3.5% in services. China contributes 17% in global trade and so we cannot avoid comparison. India contributes 2.6% and need to scale up at least 8-10% to become a 5 trillion economy by 2025. It is the principal financial institution in India for foreign and international trade. Exim bank will be playing a crucial role in driving another phase of India’s economic growth scaling up into the global trade.
