India's bold push for trade growth clashes with global risks and passport hurdles
India's bold push for trade growth clashes with global risks and passport hurdles
India's bold push for trade growth clashes with global risks and passport hurdles
India has rolled out several key initiatives in recent months, targeting economic growth, global trade, and digital security. The latest Export Preparedness Index (EPI) 2024 outlines a structured approach to boost exports, while new schemes and reports highlight both opportunities and risks ahead. Meanwhile, global rankings reveal shifts in passport strength and emerging threats on the horizon.
The Export Preparedness Index (EPI) 2024 was released to evaluate how well Indian states and union territories are equipped for international trade. Unlike previous assessments, this year's framework does not rely solely on past export figures. Instead, it examines four core areas: export infrastructure, business ecosystem, policy and governance, and overall export performance. The goal is to align with India's ambition of reaching USD 1 trillion in merchandise exports by 2030.
In parallel, the NPS Vatsalya Scheme was introduced under the National Pension System. This initiative allows parents or legal guardians to open a pension account for children under 18. The move aims to encourage long-term financial planning for minors.
On the global stage, the Henley Passport Index 2026 ranked Singapore in first place, offering its citizens the most visa-free travel options. India, however, placed 80th, remaining outside the top 20 most powerful passports worldwide.
Security concerns also took centre stage in the Global Risks Perception Survey (GRPS) 2026. The report flagged geoeconomic confrontation as the leading short-term risk for 2026–28. For India specifically, cyber insecurity was identified as a major threat in the coming years.
Additionally, the SVASTIK portal was launched to share India's scientifically validated traditional knowledge. The platform makes this information accessible in multiple Indian languages, as well as five foreign languages, broadening its reach to a global audience.
India's latest measures reflect a push toward economic resilience and global engagement. The EPI 2024 provides a roadmap for export growth, while schemes like NPS Vatsalya address long-term financial security. However, challenges remain, with global risks and passport limitations shaping the country's position on the world stage. The success of these efforts will depend on implementation and adaptability in the years ahead.