The astonishing growth in Chinese merchandise exports resulted principally from a rise in its share in world merchandise exports from just 2.8% in 1996 to 10.4% in 2011.Today, India has less than 1.7% share in world merchandise exports. This means that in principle Public Sector Units (PSUs) that do not serve a clear public purpose may be considered for strategic disinvestment. Niti Aayog vice-chairman Arvind Panagariya has submitted his report on strategic stake sales in state-run companies to the government. In nominal dollars, global merchandise exports in 2011 were 3.4 times those in 1996. During our rapid-growth phase from 2002 to 2011, we had expanded merchandise exports six-fold.

Source: Times of India July 21, 2016 19:10 UTC