UP targets 250% increase in exports in 4 years: Siddharth Nath Singh

UP targets 250% increase in exports in 4 years: Siddharth Nath Singh

The shortlisted priority products currently contribute to around 63% of the exports from UP and account for around 5% of India’s exports.The shortlisted priority products currently contribute to around 63% of the exports from UP and account for around 5% of India’s exports.

Aligning itself to the central government’s aim of increasing exports, the Uttar Pradesh government has set itself a highly ambitious target of exporting goods worth Rs 3 lakh crore in the next four years from the present Rs 1.2 lakh crore, which is an increase of nearly 250%.

Speaking to FE, Uttar Pradesh’s minister for MSME, Investment and Export Promotion Siddharth Nath Singh said to cash in the space that China has been forced to vacate due to geopolitical disturbances, the Uttar Pradesh government had roped in international consultancy firm PriceWaterhouseCoopers (PwC) and has prepared an export strategy for the state. While 17 key sectors have been primarily identified, in the first phase, the focus would be on the top five priority products that have export potential and good demand in the global markets.

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The identified sectors are electronics and electrical equipment, apparel, machine and equipment, processed food items and organic chemicals. The shortlisted priority products currently contribute to around 63% of the exports from UP and account for around 5% of India’s exports.

“We decided to take the professional help of PwC to carve out a comprehensive export strategy for integrating UP with the global supply chain network, keeping in mind the current challenges and global opportunities. We have also tried to find product opportunities where China previously had a major global export share, the chain of which has now been disrupted owing to Covid,” he said adding that UP has a market presence in many sectors.

“We need to work on our areas of expertise. In 2020-21, our exports were to the tune of Rs 1.20 lakh crore, which was a jump of over 28% over the previous year. We wish to take this up further to Rs 3 lakh crores in the next four years,” the minister said, adding that the state government is working on linking various initiatives including the state’s flagship one district one product (ODOP) scheme, which has not only rejuvenated endangered local arts and crafts but has also helped in securing the livelihood of millions of rural people engaged in these activities.

“What is important is that the ODOP scheme has also helped boost the state’s exports. We are sure that the scheme will prove to be a gamechanger in our quest for reaching higher exports targets,” the minister said.

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