Exports from Odisha up by 44 % in FY14

Export of minerals have surged by 97.62% to Rs 6226.64 crore from Rs 3150.76 crore in 2012-13

Exports of goods from Odisha have zoomed by 44.22 per cent in 2013-14 to Rs 17661.39 crore, mainly on account of increased mineral exports.

The state had exported Rs 12245.99 crore worth of goods in the previous year.

According to the provisional data collected for 2013-14 by the Directorate of Export Promotion and Marketing (DEPM), the export of minerals have surged by 97.62 per cent to Rs 6226.64 crore from Rs 3150.76 crore in 2012-13.

The mineral exports had declined in 2012-13 compared to 2011-12 due to stringent measures taken both by the state and Union government to discourage exports and curb illegal mining.

Odisha accounts for about 93 per cent of chromite and nickel, 52 per cent of bauxite, 44 per cent of manganese, 33 per cent of iron ore and 24 per cent of the coal deposits of the country. The mining revenue is also the key revenue driver for the state government in the non-tax segment.

Exports of metallurgical goods continues to have the lion’s share in the export basket. In 2013-14, metallurgical goods worth Rs 6308.13 crore were exported to different countries compared to Rs 5382.60 crore in the previous fiscal, about 17.2 per cent rise.

Odisha exported Rs 865.90 crore of engineering, chemical and allied products, Rs 1942.80 crore of marine products, Rs  2306.10 crore of software, Rs 0.64 crore of handloom items and 0.26 crore of handicraft products. Textile and pharmaceutical merchandise worth Rs 10 crore and Rs 0.92 crore, respectively, were also exported.

Sea food exports have surged due to strong international demand for Indian shrimps and weakening of Indian rupee against the dollar.Exports from Odisha in 2012-13 had witnessed a drop of about 24.41 per cent at Rs  12245.99 crore in 2012-13 compared to Rs 16207. 34 crore in 2011-12.

It may be noted that the draft export policy of the state government aims to achieve Rs 29,693 crore worth of exports over next ten years, with a target of at least 10 per cent growth on year on year basis. The policy, which is yet to be finalized, has identified six potential sectors for this purpose. These are -agriculture and forest products, handloom and handicraft items, marine products, engineering and allied products and services sector.