Business Across Borders 2021

1 Exports have played an increasingly important role in India’s economic growth over the past three decades or so. In fact, exports of goods and services currently contribute to nearly 20% of the country’s GDP. In the current pandemic-affected global economic landscape, many countries are resorting to protectionism to safeguard their interests. However, India has the potential and the resources to harness export-led growth, which can help stage a quick revival from the pandemic-induced economic stress and subsequently lead to rapid growth. Acknowledging the key role that exports can play in taking India to a new decade of rapid economic growth, Dun & Bradstreet is pleased to announce the inaugural edition of the publication ‘Business Across Borders 2021’ . The publication is an endeavour to capture the pulse of Indian exports. It lists and profiles the leading players in the Indian exporters’ fraternity. Furthermore, it also features the views of exporters and thought leaders on the outlook for Indian exports. The outbreak of the COVID-19 pandemic during the first quarter of 2020 forced economies across the Preface globe into a lockdown and severely dented consumer demand. This in turn pushed world trade into a sharp decline during the first half of the year. The global trade policy environment had already begun experiencing disruptions before the outbreak of the pandemic, due to measures such as the withdrawal of Generalised System of Preferences (GSP) benefits and renegotiation of free trade agreements. The pandemic only led to a deeper resolve on the part of nations to actively turn inwards in an attempt to revive their industries and protect vital and essential supplies. India has also understandably adopted a conservative stance. However, Prime Minister Narendra Modi’s clarion call for an Aatma-Nirbhar Bharat, encourages (among several other aspects) import substitution of low- technology goods from countries like China and calls for local manufacturing at lower prices. A focused policy shift that seeks integration with major global supply chains and increasing the exports can certainly help India build its manufacturing capabilities and create a vital opportunity to increase its share in the global value chain. India has already taken key steps in this direction, by initiating a Continuity Plan that would kickstart the growth of Indian exports and could expand Indian products’ footprint at a global level. This augurs well for India as she journeys towards becoming the third largest economy in the world by the year 2024. I would like to take this opportunity to appreciate the entire Indian export fraternity for their invaluable support in strengthening the Indian economy. I would also like to specifically congratulate all the leading companies from the Indian exporters’ fraternity who are being listed and profiled in this publication. I am sure this publication will provide the right platform for exporters to showcase their achievements and provide encouragement to the entire exporters’ community to enhance the image of Brand India on the global map. I hope you will enjoy reading ‘Business Across Borders 2021’ and I look forward to receiving your valuable feedback and suggestions. Avinash Gupta Managing Director - India Dun & Bradstreet Dun & Bradstreet