Energising Entrepreneurship in International Trade
Date: February 21, 2019
Venue: Hotel Park Plaza, Faridabad
The merchandise exports from Haryana increased from US$ 10.7 billion in 2013-14 to US$ 13.3 billion in 2017-18. The average annual growth rate (AAGR) of merchandise exports from Haryana registered a 6.2% increase, during 2013-14 to 2017-18. Haryana’s merchandise export growth was way higher than India’s growth which registered a negative growth of 0.9%, during the same period. The share of Haryana’s merchandise exports in India’s merchandise exports has shown a significant increase in the last 5 years by increasing from 3.4% in 2013-14 to 4.5% in 2017-18.
The major products exported by Haryana include ‘Basmati Rice’; ‘Electric Machinery and Equipment’; ‘Readymade cotton garments including accessories’; ‘Motor vehicles/cars’; and ‘Readymade Garments: Manmade fibres’. In fact, the top 5 commodities accounted for 47.1% of the State’s merchandise exports in 2017-18, with 16.4% of the State’s merchandise exports coming from Basmati Rice. The major export markets for Haryana in 2017-18 included USA (20.9% of the merchandise exports); Germany (7.7%); UK (6.5%); Saudi Arabia (5.4%); and UAE (4.6%).
Further, services exports constitute an important part of the State’s total exports. Haryana boasts of a well-established IT-BPM (Business process management) industry that contributes 54% of the total exports. According to the latest Economic Survey of Haryana, during the year 2016-17, Electronics & IT Exports are estimated to be about US$ 116 billion from India and Haryana’s share is estimated to be 6.2% which works out to be US$ 7.2 billion.
Haryana holds huge potential in contributing to India’s international trade, with an increased focus on entrepreneurship and startups. Export-Import Bank of India, in partnership with Federation of Indian Export Organisations is organising a half-day seminar on ‘Energising Entrepreneurship in International Trade’ at Faridabad on February 21, 2019, with an objective of providing MSMEs an interface with the various agencies promoting and facilitating exports.