Experts stress on redesigning Odisha's export policy

Export target need to be pegged at Rs 61400 cr in next 10 yrs

Stakeholders in the export sector have called for redesigning Odisha's export policy to help achieve higher realisations from exports in the next 10 years compared to the current projections.

The state export policy aiming at Rs 39,000 crore exports of goods and services is yet to be notified.

"The target for the next 10 years should be $10 billion (or Rs 61400 crore) of exports and not $6.35 billion (approximately Rs 39000 crore) and accordingly, the state export policy should be reframed", said Ramesh Mahapatra, President Utkal Chamber of Commerce & Industry (UCCI) at a panel discussion on 'Odisha's Exports Sail Towards a Better Future With International Trade'. The event was organized by Business Standard in association with the World Trade Centre (WTC).

"This is not a good sign and the current projection for Odisha is much below the all India projection. The export target (Rs 39,000 crore) set for the next 10 years in Odisha would be less than one per cent of the country's total projected exports if we consider CAGR (compounded annual growth rate) of 10 per cent and it would be less than 0.5 per cent of the country's total exports if we consider a CAGR of 15 per cent", Mahapatra said.

The country's export today is pegged at $320 billion and with 10 per cent CAGR, the figure is likely to touch $830 billion and $1295 billion if the rate of 15 per cent is considered in the next decade."Gujarat has set a target of $400 billion, 5.33 times of its present exports by 2020 while our state's projection in the next 10 years at $6.35 billion is just 2.2 times of its present exports", he rued.

Experts have identified IT (information technology) and ITes (IT enabled services), gems and jewellery, marine products, automobile manufacturing, textiles, agro products, handloom and handicrafts as the potential sectors for enhancing the exports basket of the state.

Vishal Dev industries secretary and chairman cum managing director, Odisha Industrial Infrastructure Development Corporation (Idco) said, "The new policy has a life cycle approach. The challenge is to see that the export policy is properly implemented."

Dev said, the state government's new Industrial Policy Resolution (IPR) is likely to be finalized by December.

Speaking on the occasion, S Prahalathan, chief general manager, Export Import Bank of India, said, "Handicrafts, marine and tourism sectors have lot of potential to generate foreign exchange for the state. There is tremendous scope for adventurous and eco-tourism in the state", he added.

Among others S S Acharya, deputy general manager, Small Industries Development Bank of India (SIDBI) and A O Kuruvilla, deputy director (trade and education), WTC also spoke on the occasion.