IIFT keen to formulate state export strategy

The Indian Institute of Foreign Trade (IIFT), the premium research institute in the area of international trade, is keen to chart out an export promotion strategy for the Odisha government.

"As you are aware, Government of India is keen to get the state level export strategy formulated for each of the state. The institute would be happy to conduct exploratory research and develop export strategy for your state involving a team of exports", Rakesh Mohan Joshi, Chairperson, International Collaborations & Research, a wing of IIFT, has written to the state government.

The institute has suggested that the state government should explore the possibility of availing fund for the study under the Market Access Initiatives (MAI) scheme, an export promotion scheme of the Union ministry of commerce to promote country's export on a sustained basis. IIFT has carried out over 700 research studies for government, multilateral organizations and corporates on various issues relating to international trade including state specific export potential surveys.A government official said, the export strategy will be formulated on the basis of the new Odisha Export Policy, which is yet to be notified.

The state, last year, exported Rs 17661.39 crore worth of goods and it intends to take it up to Rs 39,000 crore in ten years.

For hassle free operation, the new policy proposes to provide separate I-cards to exporters and also give them financial assistance to attend international trade meets. Earlier, the Union ministry of commerce & industry had asked the Odisha government to rework its export strategy. The ministry had suggested a broad template to Odisha for re-formulating its export strategy that include information on the state's Gross Domestic Product (GDP), level of per capita income, natural availability of raw materials like ores and minerals, presence of infrastructure facilities like airports, ports, warehouses and cold chains, percentage share of agriculture, industry and services to the state GDP and sectors receiving FDI (foreign direct investment) inflows.

Meanwhile, the department of Micro Small and Medium Enterprises has urged the director of export promotion and marketing (EPM), state nodal agency for export promotion, to furnish a proposal to IIFT to avail support under MAI scheme.