Boost to Economy: Govt Unveils Measures to Increase Exports and Domestic Manufacturing

The central government on Tuesday unveiled several measures which are aimed at strengthening exports and expanding domestic manufacturing.

These initiatives include production-linked schemes, new trade agreements, modernized logistics and grassroots-level export promotion programme, as per a statement by the Ministry of Commerce & Industry.

Expanding India's Trade Footprint

At the forefront of these efforts is the push to expand India's global trade footprint and a significant milestone for the same came on July 24 this year when India signed the Comprehensive Economic and Trade Agreement (CETA) with the United Kingdom.

Additionally, several negotiations are also underway with the European Union, with the agenda of finalising a Free Trade Agreement by the end of the year. Officials say these partnerships are expected to open new markets for Indian businesses, specifically in the small and medium enterprises (MSME) sector.

The government has also implemented production linked incentive (PLI) schemes across 14 crucial sectors, ranging from electronics and IT hardware to pharmaceuticals, solar modules, and automobiles, in order to support domestic industries.

These schemes have encouraged investments, created jobs, and boosted exports. For instance, India's mobile phone exports have grown dramatically from Rs 1,500 crore in 2014-15 to over Rs 2 lakh crore in 2024-25, transforming the nation into the world's second-largest mobile manufacturer.

India has also managed to become the net exporter of bulk drugs, reversing its earlier dependency on imports in the pharmaceuticals sector with the help of PLI schemes.

The government has also launched the National Logistics Policy (NLP) and PM Gati Shakti which has further improved the backbone of trade. These initiatives are designed to reduce costs further, eliminate bottlenecks and ensure faster connectivity across regions.

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