New Delhi, Nov 14 (UNI) Sabyasachi Ray, Executive Director, Gem and Jewellery Export Promotion Council, today said productivity should be focused on technology, which, when harnessed with skills, can produce modern age jewellery, making India the global leader in Jewellery manufacturing.
Ray was addressing a dialogue 'Export-led Growth: Unlocking India's Trade Potential for Sustainable Growth' organised by Chintan Research Foundation here.
Ray also emphasised on the need to strengthen India's labour-intensive sectors such as Gems and Jewellery, textile and apparel, which have strong employment potential and are critical to inclusive growth.
"While India has signed multiple FTAs with key partners including the UAE, Australia and the EU, their benefits can only be realised through improved trade facilitation, logistics reforms and targeted support for exporters", added Ray.
Interestingly, India's growth stands as the world's fastest-growing economy, and exports are instrumental for sustaining this trajectory. Total exports of the country reached a record of USD 824.9 billion in FY 2024-25, and it includes USD 387.5 billion in services imports, underscoring the country's growing trade influence.
To accelerate the pace of current trade momentum, logistics modernisation and capital efficiency are key to lowering export costs and strengthening resilience. India's logistics costs need to be at par with those of competing economies, making the implementation of the PM Gati Shakti Programme and the National Logistics Policy (NLP) essential.
PM Gati Shakti is a master plan for holistic and integrated infrastructure development to improve multimodal connectivity and logistics efficiency across the country. On the other hand, NLP is aligned with this plan, focusing on the improvement of 'soft infrastructure' of logistics through digitization, regulatory reforms and human resource development, aiming to reduce logistics costs.
Highlighting innovative measures already taken by government, Deepak Bagla, Mission Director of Atal Innovation Mission (NITI Aayog), said, "Export-led growth today is about exporting intelligence, not just goods. From services to semiconductors, India's future lies in combining innovation with execution efficiency."
"To improve export competitiveness, India must balance its ambition for export expansion with environmental and social responsibility. Integrating Environmental, Social and Governance (ESG) standards, developing green supply chains and encouraging MSME participation were seen as vital for sustaining long-term competitiveness. With global markets moving rapidly towards carbon-neutral trade frameworks, India's exporters must be prepared to meet emerging sustainability-linked trade conditions," added Bagla.
There's also a need for more focused investment in human capital and targeted skilling programs for export sectors. Upskilling the workforce in design, technology and production was identified as a cornerstone for boosting productivity and ensuring that labour-intensive industries continue to generate employment in both rural and urban India.
Shishir Priyadarshi, President of CRF, said, " India's export strategy must go beyond volume expansion to generate high-quality jobs, embed environmental responsibility and promote inclusivity. The test of our strategy will not be how fast we grow, but how sustainably we grow, and who benefits from that growth."
Pointing towards the global realignment of the supply chain, he underscored the importance of leveraging India's Free Trade Agreements (FTAs), investment in green manufacturing and integration of small enterprises into digital trade ecosystems.
UNI SAS RB