New Delhi, July 23 -- India aims to significantly expand its presence in global trade by increasing its share of merchandise exports from about 1.8 percent in 2024 to around 10 percent by 2047, according to a World Trade Organisation (WTO) report.

The report noted that export promotion remains a key pillar of India's Viksit Bharat vision, which focuses on sustaining high long-term economic growth and enhancing global competitiveness. To support this objective, India continues to implement various duty exemption, remission and rebate schemes aimed at boosting outbound shipments, PTI reported, citing the report.

WTO Trade Policy Review

The observations are part of the WTO's eighth review of India's trade policies and practices, scheduled...