Business Across Borders 2022

5 Exports have been one of the key drivers of India’s economic growth. After liberalization in 1991, the government implemented drastic economic reforms to liberalize and globalize the Indian economy. Since then, exports have continued to play a significant role in accelerating India’s economic growth. After a sharp contraction in April 2020 due to global trade disruptions caused by the Covid-induced lockdown, India’s exports have gradually recovered amid the easing of restrictions and a recovery in global demand. Dun & Bradstreet is pleased to launch the second edition of its publication, ‘Business Across Borders’ as an acknowledgement of the spirit of the Indian exporters and their immense contribution to the growth of the country’s economy. The publication provides an exhaustive listing of the leading ~2000 exporters across India and profiles 500 outstanding performers amongst them. These businesses represent all the sectors of the economy – manufacturing, services, trading, and mining, among others. The publication also encapsulates the impact of the pandemic on various supply chains and trade dynamics across the globe and offers new perspectives on global supply chains for the post-pandemic world. Some of the key highlights of Indian exports that have been covered in this publication – • Out of all the exporters listed in this publication, around 71% are in the manufacturing sector. Within the manufacturing sector, the chemicals sector accounts for 14%, while the pharmaceuticals and textiles sectors constitute around 11% and 7%, respectively. • India’s global trade has increased in the current financial year as compared to FY 2021, bolstered by a slew of measures taken by the Union Government, including production-linked incentive schemes, advance authorization schemes, remission of duties and taxes on exported products, etc., and through mutually beneficial trade agreements with various countries. • Merchandise exports have clocked robust performance in the current fiscal, with cumulative exports during April 2021-February 2022 being at $374.05 bn, and well on their way to achieving the government’s ambitious US$400 bn target for merchandise exports for FY22. • With a $215 billion logistics business and a CAGR of 10.5%, India’s supply chain and logistics sector are one of the largest in the world. However, high logistics costs of 14% of GDP compared with 8-10% in the US and Europe have resulted in a $180 billion competitiveness deficit for the country. In this direction, India has set out a roadmap for the development of transportation and logistics infrastructure in the country to reduce dependency on global logistics systems. The publication also discusses the changing dynamics of global trade along with the emerging threats and opportunities for Indian exporters in the new scheme of things in a post-pandemic world. It also explores the various initiatives and policy measures taken by the government and how these can help boost exports in the coming days. Dun & Bradstreet India endeavours to keep track of the latest developments, challenges, and opportunities in the global trade scenario through future editions of the publication. We are hopeful that this publication would serve as a valuable and reliable source of information for all key stakeholders in the export fraternity and would help in strengthening India’s foreign trade ecosystem. We are also confident that Dun & Bradstreet’s global outreach will ensure that the Indian export fraternity and their success stories receive a wider audience among relevant stakeholders across the globe. We look forward to receiving your feedback and suggestions. Executive Summary Naina R Acharya Associate Director - Data Operations, LEIG Dun & Bradstreet India Dun & Bradstreet