PM Modi’s mention of India meeting the $400 billion export target is another feather in the cap of the government’s Atmanirbhar strategy, says SK Narvar, Chairman, Capital India Corp.
Question: What does India’s meeting the export target of $400 billion this fiscal suggest to you?
SK Narvar: First, I admire PM Modi’s commitment to putting India on the world map. Be it his popularity as the world’s most respected leader or Indian goods getting due recognition globally, our country’s strengths are being demonstrated worldwide.
The $400 billion export target proves that Indian products and solutions are being accepted globally, and we are no more a cheap alternative but a genuine intellectual-driven economy. Moreover, the Atmanirbhar Bharat strategy to make Indian manufacturing and services competitive to global standards is delivering results.
Question: How does it affect India Inc.?
SK Narvar: Indian corporations both in the manufacturing and services space are being accepted globally as competitive and delivering the best quality. It is a good sign for India Inc. as Indian talent and goods are second to none. Today, our intellectual capability is proven as many Indians lead US Fortune 500 companies. However, leading at the home ground and making a mark globally requires determination and hard work.
The export push has a spiral effect on the economy. It creates local jobs or generates income through demand fulfillment; it helps the country grow. Another critical area is the consciousness and discipline to maintain quality, timelines, and contractual obligations – it teaches Indian companies to be more competent and ready in a global scenario.
Question: What were the key highlights of PM Modi’s speech on exports?
SK Narvar: PM Modi stressed that start-ups and Ayush products were key beneficiaries of the export thrust. Ayush products help consumers worldwide learn about Indian traditional medicines and treatments. It is helping revive the dying practice of alternative medical science, which is relevant even today. The ability of start-ups to create a global demand showcases that Indian entrepreneurs thrive on innovation and problem-solving on a global scale.
Question: Do exports help in domestic consumption and demand creation?
SK Narvar: Yes, it is a good point. When we grow in exports, there is a similar effect in the domestic sector. For example, logistics and supply chain need to become efficient for exports to succeed and meet global time schedules; better transport infrastructure, connectivity, and lesser paperwork also help local industries. Similarly, global standards of manufacturing or delivery need work and safety standards that meet international quality – when implemented in plants or offices, it helps raise the bar for the entire organization.
PM’s call for an Atmanirbhar Bharat is directly linked to our export push; it is not just large companies benefitting, but smaller firms can sell globally online with a digital push. Our export thrust will ensure that local standards and quality get an upward push, and we can implement global learnings locally.
