MP has huge potential to double its share in country's exports over next 5 years: FIEO

Madhya Pradesh has huge potential to double its share in the country's total exports in the next five years, the Federation of Indian Export Organisations (FIEO) said on Thursday.

FIEO President Ganesh Kumar Gupta said the federation offered assistance to the state to increase its share from 1.6 per cent in the country's exports to over 3 per cent in the next five years.

Ways to increase exports were discussed during a meeting between Madhya Pradesh Chief Minister Kamal Nath and the FIEO president here.

"They discussed export potential of the state," the federation said in a statement.

Looking into the possibilities of augmenting exports to China and Iran of soyabean and soyameal, non-basmati rice, pharmaceuticals, technical textiles, Gupta urged the chief minister to lead a business delegation to these countries, which have a huge demand for such products.

Gupta also emphasised on the need for identification of more products under the geographical indication (GI) tag and marketing of such products though exclusive shops in the departure area of international airports to start with Mumbai and Delhi.

Further, the president demanded to provide inland freight subsidy for all export-related products as the cost of carrying cargo from the state to Jawaharlal Nehru Port Trust.

"The chief minister assured all support to look into the issue of freight subsidy and GI products exclusive show rooms at international airports in India," Gupta said.