CII prioritises MSME competitiveness and global value chain integration to boost India’s trade share.
The Confederation of Indian Industry (CII) announced its focus on tackling challenges hindering manufacturing and export growth, particularly for MSMEs. Highlighting the need for deeper integration into global value chains and better digital trade infrastructure, CII stated that these measures could help India double its global trade share from the current 2 percent.
Sanjay Budhia, Chairman of CII’s National Committee on EXIM, emphasised the necessity for a unified online portal to streamline circulars across ports and locations. He also advocated adopting international best practices and implementing the Customs Authority on Advance Ruling Regulation (CAARR), 2021, to lower trade costs and ensure duty liability certainty.
Budhia suggested strengthening the Authorised Economic Operator program to enhance exporter efficiency and proposed measures to simplify refund processes, minimising litigation and resolving system errors. Aligning India’s tax framework with global norms, particularly VAT structures, has also improved cross-border trade with partners like the EU and ASEAN, he added.
