VIKSHIT BHARAT: A Roadmap to USD 1 Trillion Exports
India is poised to become a global economic powerhouse, and achieving USD 1 trillion in exports is a crucial milestone in this journey. The "VIKSHIT BHARAT" approach focuses on export diversification, MSME integration, digital trade, and global competitiveness to accelerate growth.

Current Export Scenario
India’s total exports (merchandise and services) crossed USD 775 billion in FY23, with strong contributions from sectors like engineering goods, petroleum, pharmaceuticals, and IT services. However, to reach USD 1 trillion, key challenges such as infrastructure gaps, logistical inefficiencies, and global trade disruptions need to be addressed.

Key Strategies for Achieving USD 1 Trillion Exports
1. Expanding Export Base Beyond Traditional Sectors
Encouraging high-value exports like semiconductors, renewable energy products, and defense equipment.
Strengthening agri-exports through value addition and global market linkages.
Boosting services exports in fintech, AI-driven solutions, and R&D outsourcing.
2. Strengthening MSME Contribution
MSMEs contribute 45% of India’s exports, but many lack access to finance and technology.
The government must simplify compliance, provide tax incentives, and promote cluster-based manufacturing.
Export Credit Guarantee and lower-cost trade financing can enhance MSME participation in global markets.
3. Infrastructure & Logistics Upgradation
Reducing export lead time with dedicated freight corridors, modernized ports, and integrated logistics parks.
Implementing digitized customs clearance and AI-driven trade facilitation to cut red tape.
Leveraging National Logistics Policy (NLP) to reduce logistics costs from 13-14% of GDP to 8%.
4. Global Market Access & Trade Agreements
Fast-tracking Free Trade Agreements (FTAs) with key markets like EU, UK, and Canada.
Strengthening Indian exporters' compliance with global quality standards and sustainability norms.
Expanding Rupee-based trade settlement to reduce forex dependency and enhance competitiveness.
5. Digital Transformation & E-commerce Exports
Promoting cross-border e-commerce for MSMEs and startups.
Developing India as a global data and cloud computing hub for digital services exports.
Encouraging blockchain-based supply chain tracking to enhance trust and efficiency.
6. Sustainability & Green Exports
Enhancing India's position in green hydrogen, solar panels, and electric vehicles exports.
Complying with Carbon Border Adjustment Mechanism (CBAM) regulations for seamless EU market access.
Encouraging circular economy practices in key industries to ensure sustainable export growth.
Government Initiatives & Policy Support
Production-Linked Incentive (PLI) schemes for export-driven sectors like electronics, textiles, and pharma.
Districts as Export Hubs program to expand export contributions beyond metro cities.
India-Middle East-Europe Economic Corridor (IMEC) to reduce dependence on China-centric supply chains.
Foreign Trade Policy (FTP) 2023 focusing on digital trade and ease of doing business.
Conclusion
India’s ambitious USD 1 trillion export goal is achievable with the right mix of policy interventions, private sector participation, and global collaboration. By leveraging MSME potential, infrastructure upgrades, FTAs, digital transformation, and sustainability, India can emerge as a dominant player in global trade. Chartered Accountants (CAs) will play a key role in guiding businesses on tax incentives, compliance, and financial planning to maximize export success.