India is poised to redefine its role in global trade, with a projected compound annual growth rate (CAGR) of 6.4 per cent in trade over the next decade, roughly in line with its high GDP growth, according to a report on Monday.
The ASEAN region and especially India, are among the greatest beneficiaries of production shifts spurred by geopolitics, such as trade tensions between the US and China.
“We project 6.4 per cent CAGR in India’s total trade through 2033, to $1.8 trillion annually, roughly in line with its high GDP growth,” according to the report by Boston Consulting Group (BCG).
As the world increasingly pivots toward resilient and diversified supply chains, India’s ‘China+1’ strategy, backed by its large domestic market, skilled workforce, and forward-looking policies, positions it as a preferred global manufacturing hub.
“Strengthening partnerships with the US, EU, and emerging regions like Africa and ASEAN will be pivotal …