Context:
Union Finance Minister Nirmala Sitharaman emphasized exports as a key engine of India’s growth, unveiling reforms to enhance domestic manufacturing, integrate with global supply chains, and improve trade infrastructure.
Key Announcements
BharatTradeNet (BTN): Digital Public Infrastructure for Trade
- BharatTradeNet (BTN) to be established as a single window for trade documentation and financing solutions.
- Will be an adjunct to the Unified Logistics Interface Platform (ULIP) and in line with international trade practices.
- Will simplify trade processes, increase efficiency, and enhance India’s export competitiveness.
Enhancing India’s Position in Global Supply Chains
- Support for domestic manufacturing to better integrate into global supply chains.
- Sectoral identification based on objective criteria to determine key industries for integration.
- Facilitation groups with senior government officials and industry representatives to be formed for select products and supply chains.
Boosting Domestic Electronics & Industry 4.0
- Domestic electronic equipment industry support by the government to capitalize on the opportunities arising from Industry 4.0.
- Skilling of India’s youth for the world’s requirements in cutting-edge technologies.
National Framework for Global Capability Centres (GCCs)
- New National Framework:
- For States on Global Capability Centres (GCCs), with special emphasis on Tier-2 cities.
- 16 key proposals have been suggested for:
- Improve talent availability & infrastructure.
- Reform building bylaws.
- Put in place industry collaboration mechanisms.
Conclusion
The Union Budget 2025-26 provides a pedestal for the enhancement of India’s trade participation in the world by: Digitizing trade infrastructure (BTN) to make India at par with the world at large. Enhancing domestic manufacturing capabilities for India’s integration into the global supply chain. Foster Industry 4.0 capabilities for future employability.
