Seminar on ‘Exports from Uttar Pradesh: Trends, Opportunities and Policy Perspectives’ at Greater Noida on October 31, 2018
Date: October 31, 2018
Venue: Radisson Blu, Greater Noida
Uttar Pradesh has been a confluence of cultures, religions, and businesses over the last many decades. The multi-faceted State economy ranks third in the country in terms of Gross State Domestic Product, and derives strength from its diverse resource endowments, substantial production and value addition networks, and robust agricultural base. In spite of the substantial economic activity in the State, its share in India’s exports is less than 5 percent — significantly lower as compared to the State’s contribution to other key macroeconomic parameters. An accelerated across-the-board engagement will be required for strengthening the State’s export base, and imparting a renewed energy and momentum to the export growth story of UP.
According to Exim Bank’s research, the State has an untapped export potential of more than USD 8 billion. Exports from the State could potentially reach USD 30 billon by 2023 through adoption of appropriate short and medium term measures aimed at enhancing trade competitiveness, promoting innovation, bolstering availability of export finance, and strengthening the institutional capacity for exports, among others. In the short term, the Government can focus on increasing exports from sectors such as animal and animal products; textile and garments; construction material; leather and leather products; and gems and jewellery, wherein UP’s exports are competitive and global demand growth has been robust. In the medium term, the Government can focus on improving competitiveness in the categories of machinery and mechanical appliance; electrical and electronic goods; optical, measuring, medical and similar instruments and parts; and pharmaceutical products. A pragmatic and proactive strategy in these sectors can propel exports to a higher growth trajectory.
With is view to involve stakeholders from the government and industry to discuss on how to improve export competiveness of Uttar Pradesh, Exim Bank is organising a half-day seminar on ‘Exports from Uttar Pradesh: Trends, Opportunities and Policy Perspectives’ at Radisson Blu, Greater Noida on October 31, 2018. The seminar will bring together speakers from the government, industry chambers, DGFT, ECGC and Exim Bank.