Export Strategy for Madhya Pradesh
Date: August 13, 2018
The exports from Madhya Pradesh increased from US$ 4.4 billion in 2013-14 to US$ 5.3 billion in 2017-18. The average annual growth rate (AAGR) of exports from MP registered a 5.3% increase, during 2013-14 to 2017-18. This growth was higher than the one registered by India’s exports at (-) 0.9%, during the same period and the share of MP’s exports in India’s exports has shown a significant jump in the last 5 years by increasing from 1.4% in 2013-14 to 1.8% in 2017-18. The major products exported by MP include ‘Drug formulations, biologicals’; ‘oil meals’; ‘cotton yarn’; ‘AC and refrigeration machinery’; and ‘aluminium and its products’. In fact, the top 5 commodities accounted for 43% of the State’s exports in 2017-18, with 17.3% of the State’s exports coming from Drug formulations and biologicals. The major export markets for MP in 2017-18 included USA (19.7% of the exports); Bangladesh (7.3% of the exports); Germany (3.9% of the exports); China (3.5% of the exports); and France (2.9% of the exports).
Export-Import Bank of India is organising a seminar on ‘Export Strategy for Madhya Pradesh’ in Indore on August 13, 2018, in association with Indo Global SME Chamber (IGSC). The seminar will have participation from MSME exporters from Madhya Pradesh from sectors such as textile, pharma products, light engineering, food products, readymade garments, etc. Panellists for the seminar include speakers representing the Madhya Pradesh Government, ECGC Ltd., Directorate General of Foreign Trade and MP Small Scale Industries Association, IGSC and Exim Bank. The seminar will also feature an experience sharing session with exporters from the region.