New Delhi: In a bold move to position exports as a key engine of India’s economic growth, the Union Budget 2025-26, presented by Finance Minister Nirmala Sitharaman, has introduced transformative reforms aimed at strengthening domestic manufacturing, enhancing trade facilitation, and integrating India’s economy with global supply chains.
A major highlight of the budget is the proposal to establish BharatTradeNet (BTN), a digital public infrastructure designed to streamline international trade documentation and financing solutions. BTN will serve as a unified platform for exporters, importers, and financial institutions, ensuring seamless trade operations.
Announcing the initiative, Sitharaman stated, “BharatTradeNet will complement the Unified Logistics Interface Platform (ULIP) and will be aligned with international best practices to enhance India’s trade efficiency.” This initiative is expected to reduce bureaucratic delays, improve transparency, and accelerate India’s integration into global markets.
Recognizing the importance of manufacturing in India’s global trade expansion, the budget proposes targeted support for sectors identified through objective criteria to develop domestic manufacturing capacities. The government will establish facilitation groups, comprising senior officials and industry leaders, to identify key products and supply chains that can strengthen India’s presence in international markets.
Sitharaman emphasized India’s potential in Industry 4.0, stating, “The youth of India possess high skills and talent, and our government will actively support the domestic electronic equipment industry to capitalize on global opportunities.” The move is expected to boost high-tech manufacturing, creating employment opportunities and increasing India’s competitiveness in global trade.
To decentralize economic growth and attract global investments, the budget proposes the development of a National Framework to guide states in promoting Global Capability Centres (GCCs) in emerging tier-2 cities.
The framework will include 16 key measures to:
By promoting GCCs beyond metro cities, the government aims to boost regional development, create high-value jobs, and make India a preferred destination for multinational corporations.
With these bold policy measures, the Union Budget 2025-26 lays the foundation for India’s emergence as a global trade powerhouse. By leveraging digital innovation, strengthening supply chain linkages, and decentralizing economic growth, the government is committed to achieving ‘Viksit Bharat’ by fostering inclusive, sustainable, and globally competitive development.
Bhubaneswar: In a powerful blend of social reform, tradition and women’s empowerment, Chief Minister Mohan…
Bhubaneswar: The National Bank for Agriculture and Rural Development (NABARD) on Monday hosted the State…
Bhubaneswar: Reinforcing its leadership in urban sanitation, Odisha on Monday convened a high-level Learning Workshop…
Bhubaneswar: Marking a significant overhaul of the Mission Shakti programme, the Odisha government on Monday…
Rayagada: Giving a major fillip to infrastructure, industry and women-led growth in southern Odisha, Chief…
Jagatsinghpur: Heritage in Jagatsinghpur is not confined to temples, manuscripts or stone sculptures—it lives on…
