In an increasingly interconnected world, governments often emphasise exports, foreign-exchange earnings, international competitiveness and their country's share of global trade. These objectives matter, particularly for economies that need imported energy, advanced machinery, technology and other essential goods. However, an excessive focus on export performance can obscure a more fundamental question: How effectively does a nation's economy produce goods and services that its own people can afford to consume?

A country may develop globally competitive industries while a substantial section of its population struggles with inadequate purchasing power. Factories may have the capacity to produce more, yet operate below capacity because domestic demand is weak. Businesses may hesitate to hire because they cannot confidently sell additional output. Meanwhile, unemployment or insecure employment can further weaken consumption, creating a cycle that restricts economic growth.

This report proposes a stronger policy emphasis on Gross Domestic Consumption (GDC) as a complementary measure of economic performance, alongside Gross Domestic Product (GDP), household purchasing power, employment, productivity, investment and fiscal revenue.

The central argument is not that exports are undesirable or that GDP should be discarded. Rather, it is that economic development should be assessed by how effectively productive capacity translates into domestic purchasing power, sustained production, decent employment and public revenue.

For India, this approach raises an important policy question: can economic policy encourage more production, more employment and greater tax compliance by strengthening the ability of domestic consumers to purchase the goods and services that Indian businesses are capable of supplying?

The answer requires a careful understanding of national accounting, income distribution, consumer demand, taxation and international trade.