UP Unveils Plans For New Export Policy To Boost Trade Share
(MENAFN- KNN India)
Lucknow, Jan 7 (KNN) The Uttar Pradesh government is developing a comprehensive export policy aimed at increasing the state's contribution to India's total exports. The initiative comes as the state seeks to enhance its export performance and provide additional support to local exporters.
Recent data shows promising growth in the state's export sector, with merchandise exports reaching USD 20.67 billion in FY24, representing 4.71 percent of India's total exports.
The state has already demonstrated progress in the first half of FY25, with exports valued at USD 10.56 billion and an increased share of 4.89 percent in national exports. Through the new policy framework, the government aims to elevate this share to 7.5 percent while targeting merchandise exports worth Rs 3 trillion within the next two to three years.
The proposed policy will introduce targeted incentives for key sectors, including food processing, handicrafts, and the One District One Product initiative. These measures will support the state's traditional industries, such as Banarasi silk sarees, Bhadohi carpets, Lucknow's chikan embroidery, and leather goods from Kanpur and Agra.
The incentive package encompasses marketing development support, air freight subsidies, international certification assistance, and gateway port freight subsidies, with a strong emphasis on job creation.
To overcome the challenges of being a landlocked state, Uttar Pradesh is implementing an extensive infrastructure development plan. The government intends to transform all 75 districts into potential export hubs by establishing a network of warehouses, cargo terminals, and trucking facilities near industrial zones and expressway projects.
Under the UP Warehousing & Logistics Policy, private investors are being offered financial incentives, while plans are underway to develop comprehensive air, water, road, and rail connectivity to enhance market access.
(KNN Bureau)
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