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Sustainable Export Competitiveness of SMEs Through Circular Economy and Digital Economy

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Abstract

This paper aims to identify the critical factors that can enhance the digital economy through circular economic models (CE) within Indian manufacturing companies and further model the determinants of sustainable CE. A systematic literature review was done to identify the factors driving CE in the context of emerging country including India and used as an input in the reliability, factor, regression and correlation (RFRC) model and structural equation modeling (SEM) technique. This study discovered that the key challenges to sustainable exports through CE adoption in the Indian manufacturing industry are driven by science and technology innovation, R&D in CE, enhancing investment in foreign direct investment (FDI), commercial diplomacy, and cooperative marketing strategy, which dramatically impacts the sustainable exports and thus needs to be prioritized. The unique contribution of this study is the sustainable approach used in theory building based on CE model especially. The challenges to SMEs export competitiveness (SEC) were identified in the context of emerging country including India and further the interrelationships among the determinants were presented. The findings will be helpful for managers, international markets and policymakers.

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Acknowledgements

The authors would also like to acknowledge the contributions made by the anonymous reviewers for their valuable feedback, patience and support for the research paper. The authors are also thankful to MacArthur Foundation, UK for their collaboration and direction during Prof. (Dr.) Broto Rauth Bhardwaj’s Post-Doctoral study on “Sustainable strategies for organization”. The first author is grateful to Prof. Sushil, Prof. K. S. Momaya and Team GIFT, IIT Delhi for their kind support during post-doctoral thesis submission. This research outcome is part of the post doc research data collection and analysis on circular economy.

Funding

This work was partially supported by Bharati Vidyapeeth Deemed to be University, Pune, seed money funding under minor project.

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Authors and Affiliations

  1. Bharati Vidyapeeth (Deemed to be University) Institute of Management and Research, New Delhi, India

    Broto Rauth Bhardwaj

  2. BVDU, Pune and Assistant Vice President, Invest India (Ministry of Commerce and Industry), New Delhi, India

    Aakriti Jain

Authors
  1. Broto Rauth Bhardwaj
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  2. Aakriti Jain
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Contributions

Broto Rauth Bhardwaj: conceptualization, methodology, and writing—original draft, supervision, writing—review and editing, model building, explanation and complete rewriting based on the feedback given by the esteemed reviewers. Aakriti Jain: writing—review, explanation and revising, uploading the document online and initial review.

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Correspondence to Broto Rauth Bhardwaj.

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Bhardwaj, B.R., Jain, A. Sustainable Export Competitiveness of SMEs Through Circular Economy and Digital Economy. JGBC (2024). https://doi.org/10.1007/s42943-024-00097-3

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