The state's contribution to the Indian exports is only at 4.55% per annum.
The Uttar Pradesh government is currently aiming to achieve a one-trillion-dollar state economy by drafting a new export policy to encourage such an endeavor, backed by functional businesses in the state. The new policy will be chalked to increase the exports from the present 1.20 lakh crores to 3 lakh crores annually, by extending several incentives to the exporters in Uttar Pradesh. In order to ensure that the export targets are met, the Uttar Pradesh governement is planning to focus on sectors with high potential.
A common facility centre to be initiated
The state houses around 18% of India's population, inclusive of a significant number of youths who are considered as valuable human resource for the industry. Also, the state has a large number of micro, small and medium enterprises and they offer potential for increased exports of various handicrafts in the global market.
However, despite this huge potential, the state's contribution to the Indian exports is only at 4.55% per annum, so in order to boost the figures, the authorities are now focusing on bringing in a new policy to bolster exports. Companies which transport goods from ports to neighbouring countries will be granted a subsidy in transport whereas the electricity duty of MSMEs which export 50% of their production, will be waived off.
Along with these reforms, a common facility centre would be set up under the umbrella of Uttar Pradesh Export Development Scheme, to provide the facilities of processing and packaging of products to different companies under one roof. Similarly, holding of buyer-seller meetings and providing facilities to export-oriented units in exhibitions across the world, are also on the list. Additionally, the Uttar Pradesh government plans to extend financial help to exporters for getting necessary certifications for exports, to the European Union and China.
Federation of India Exports Organisations to be a knowledge partner
In every district, a Export Development Centre will be set up in line with their potential for exports in different products. These centres will act as hubs to provide necessary aid to exporters and to help them in obtaining the required approvals and permissions from the concerned authorities.
The Federation of India Exports Organisations will be a knowledge partner in this venture and the District Magistrate will captain these export hubs. The DM will make sure that the coordination between export councils and export promotion committees in their respective districts are held seamlessly. Uttar Pradesh Additional Chief Secretary mentioned that handicrafts and food processing sectors hold much potential for exports and the state will focus on the same in the new export policy.