The US decision to stop India’s GSP privileges has had largely minimal impact on Indian trade so far, with the government continuing to stress the same. However, in a possible sign of stakeholders bracing for change, government think-tank Niti Aayog and the Commerce Ministry have announced they’re working on a new state ranking index. The new index will rank states based on their readiness for exports and is aimed at promoting “healthy competition” between them. No timeline has been given for its implementation so far, but one hopes that the new index will help revitalize exports in a period of increasing stagnation in global trade. Other measures announced this week to boost trade include a slew of tax refunds for outbound shipments of apparel and made-up goods, as well as relaxed norms for imports of capital and non-capital goods via a new raised trade credit limit of $150 million under the automatic route. The government’s measures are no doubt meant to stabilize India’s exports and imports after the recent shocks of the Pulwama attack and GSP withdrawal. In fact, Commerce Secretary Anup Wadhawan has claimed that India’s exports are on track to hit an all-time record high of $330 billion by the end of FY 2018-19. Whether his prediction comes true remains to be seen, but the government is definitely pulling out all the stops to make it a reality.