Odisha sets a target to reach Rs.1 lakh cr exports by 2025

The Dollar Business Bureau

The state government of Odisha, which is working on a new state export policy, has set a target of reaching Rs.1 lakh crore of exports by the year 2025.

“Odisha has set a target of achieving an export turnover of Rs.1 lakh crore by 2025,” said L N Gupta, Additional Chief Secretary, Micro, Small and Medium Enterprises (MSME) Department on Thursday.

The Government is working on a number of enabling factors that would be included into the new export policy in order to give a major boost to the State’s export turnover, he added.

“A draft has been prepared for Odisha Export Policy, 2017, which lays emphasis on promoting the exports from traditional as well as non-traditional sectors,” Gupta said while addressing a seminar on export finance in Bhubaneswar.

The Odisha Export Policy will be in line with India’s Foreign Trade Policy (FTP) 2015-2020, he added.

The Additional Chief Secretary stated that Odisha’s export turnover, which was only Rs.563 crore in 2001-02, surged to Rs.19,082 crore in financial year 2015-16.

Further, the exports from the State have increased to Rs.40,872 crore during the last fiscal of 2016-17, recording an growth of 114% compared to the turnover in 2015-16, Gupta informed.

The State’s export turnover will get an additional boost when Inland Container Depots (ICD) at Balasore and Jharsuguda became operational and with the operationalisation of Marine Products Exports Development Authority’s (MPEDA) export inspection agency, which is about to complete, he said.