UP SMEs eye offshore markets as state targets Rs 3 trillion in exports

With Uttar Pradesh (UP) eyeing exports of Rs 3 trillion in 2-3 years, the state’s small and medium businesses (SMEs) are looking to tap offshore markets, especially Africa, Europe, and the Gulf countries for trade ties.

 

The sectors under focus for global business tie-ups include agro and food processing, green energy, building and construction material, and electrical and electronics.

 

To grab international trade opportunities, Indian Industries Association (IIA) will leverage global trade fairs to showcase domestic products across different product categories.

 

“We are bullish on the African, European, the Gulf region apart from the US markets for business tieups and trade collaborations. This will bolster the ‘Make in India’ and ‘Make in UP’ themes,” Lucknow-based IIA National President Neeraj Singhal told Business Standard.

   

Singhal said entrepreneurs hailing from the southern Indian states proactively participating in trade fairs to proliferate their businesses, while there is plausible apathy and lack of awareness among their peers in the northern states.

 

“Last year, the southern states accounted for 70 per cent of the roughly Rs 35,000 crore of the business marketing support provided by the Centre, while the eastern, northern, and western regions shared the remaining 30 per cent budget,” he claimed.

 

Taking the agenda forward, IIA has planned to host a mega international trade fair ‘Build Bharat Expo 2025’ from March 19-21 at New Delhi. He said business-to-business deals worth Rs 15,000 crore are expected to take place at the expo, which will feature over 500 participants from India and abroad.

 

“As an apex industry chamber, IIA is committed to empowering micro small and medium enterprises and advancing India’s position as a global manufacturing hub,” he added.