Rajasthan aims to double exports to Rs 72,000 crore by 2022

Posted by Daily Shipping Times on 27-02-2017        Tweet

JAIPUR: For the first time, Rajasthan Government will roll out an exports policy with an objective to double the shipments from the State to Rs 72,000 crore by 2022 from the current Rs 36,000 crore.

The new policy aims to map out strategies to expand, diversify and strengthen the product base and market size while increasing the competitiveness of exporters by facilitating world-class export infrastructure and institutional support.

State Industries Minister Rajpal Singh Shekhawat said, "Rajasthan has huge untapped exports potential. The overarching objective of the Export Promotion Policy is to double the shipments from Rs 36,000 crore in 2015-16 to Rs 72,000 crore by 2022. We expect the policy to be announced in coming months."

Shekhawat said one of the most impactful ways of boosting exports is diversification of both products and markets, and the thrust areas will also cover value-addition, encouraging adoption of latest technologies, skills development and finding ways to make finance available to exporters.

Rajasthan is traditionally strong in handicrafts, gems and jewellery, stones, agro and food products, and textile products but its share in the national exports basket is just 2% despite being the largest State in geographical terms.

Sharma said the policy will have strategies that would help the State's exporters tap the National and Global value chain. Recently, Export-Import Bank of India entered into a MoU with the State Government for financing, facilitating and promoting exports.

While industry bodies are optimistic that the export policy will kick-start a new phase of expansion and growth, some of them suggested that promotion councils will also go a long way in giving fillip to the sector. For example, CII-Rajasthan has already made a case for State Export Promotion Council for handicrafts on the lines of Export Promotion Council of Handicrafts (EPCH).

"It won't create much burden on the State Government. Rather, it will bring funds from the Centre for export promotion, buyer-seller meets, trade shows, missions, etc. Uttar Pradesh has set up similar Export Promotion Bureau and the industries there are in an advantageous position as many incentives are being given to them which are being passed from the Centre to the bureau but not to industries directly," CII-Rajasthan had earlier said in its pre-budget recommendations to the State Government.