Four broad concerns capture the current context surrounding India’s external trade. First is our sluggish export performance for the last several years owing to global slowdown and also due to our declining competitiveness. With a share of 1.65 per cent in world goods exports today, India ranks 19th among all countries that is way below its size or GDP. India’s merchandise imports has also gone past US$ 500 billion now. The trade deficit at US$ 176 billion in 2018-19 as a result is over 50 per cent of exports. The need for a strong push for manufacturing exports is compelling.

Science and innovation have been long-embedded in India’s civilisation and culture. Today, they are playing an important role in shaping the country’s future in an increasingly globalised world. The current pace of technological change across the world is unprecedented and is opening

India has to be militarily powerful to be a meaningful player in international politics. As the world’s fifth largest economy, it must be a secure nation to deter her enemies. India’s Poet Laureate Dr. Ramdhari Singh Dinkar, in his poem quoted above, has correctly observed that only the powerful possess the ability to pardon someone and that no one cares for the weak or toothless.