Page 7 - ITLN Nov-Dec 2022 For Magzter

n an outlook on India’s economic the government is banking on PLIS as a
growth and policy platforms tool to make the Indian economy more
published in November 2022, S&P export-driven and more inter-linked in
IGlobal reported that India's real global supply chains,” it reads.
GDP growth is projected to average 6.3 India's manufacturing exports have
percent annually in FY 2021-30, enabling struggled to gain global market share,
it to overtake Japan and Germany while the share of manufacturing in
to become the world's third-largest India's GDP declined from 17 percent
economy (in nominal US dollar terms). in FY 2009 to 14 percent in FY 2021. “A
“These projections assume continued greater share in global value chains
structural reforms, including trade and would also contribute to India's goals
financial liberalization, infrastructure and of improving leverage in multilateral
human capital investment, and labour negotiations and gaining advantage in its
market reform,” it reads. competition with mainland China,” the
The outlook particularly mentions the The need for data on outlook notes.
Production Linked Incentive Schemes demand is higher in trade. To achieve such ambitious goals, India
(PLIS) through which the current Thus NLP Marine is going needs to strengthen not only its trade
government is boosting domestic to integrate with not just 10 relations which are achieved through
manufacturing and facilitating large- free trade agreements earlier with the
scale job creation. “It is very likely that or 15 but hundreds of port United Arab Emirates, now with Australia
community systems. and the one with the United Kingdom
Manish Jaiswal under negotiation but also its logistics
Portall Infosystems capabilities, particularly the maritime

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