Maharashtra Beats Tamil Nadu As India's Most Export-Ready State

(MENAFN- Live Mint) New Delhi: Maharashtra has overtaken Tamil Nadu as the most export-ready state in the country in terms of effectiveness of large-scale policy execution, institutional depth and competitiveness across different sectors, a top government think tank said in a report.

Niti Aayog's latest Export Preparedness Index (EPI) 2024, released on Wednesday, presents an assessment of export-readiness across states and Union Territories (UTs).

The report ranked Gujarat, Uttar Pradesh, Andhra Pradesh and Karnataka as the third, fourth, fifth and sixth performers in export -readiness.

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Maharashtra is one of the most industrialized and economically significant states in the country, known for diverse economic activities.

The report said that as of FY24, Maharashtra recorded an annual gross state domestic product of approximately ₹40.4 trillion, accounting for around 13% of India's gross domestic product (GDP), underscoring its status as the nation's economic powerhouse. As a leader in trade and commerce, the state has a well-defined export portfolio that aligns with its industrial strengths, the report said.

Tamil Nadu, Maharashtra, Karnataka, Gujarat and Haryana, in that order, were the top-ranking states in Niti Aayog's previous such report released in 2023.

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India's ambition to scale up merchandise exports to $1 trillion by the end of the decade, and to become a developed economy by 2047 will depend on enhancing export competitiveness at state and district levels, Niti Aayog said, adding that the index provides a way to assess the strength, resilience, and inclusiveness of state and UT-level export ecosystems.

It identifies key structural challenges, growth levers, and policy opportunities for enhancing export competitiveness, the Aayog stated.

Niti Aayog chief executive BVR Subrahmanyam said at an event held to release the report that improving export-readiness at state and district levels is essential for long-term growth, employment generation, reduction of regional disparities and deeper integration into global value chains amid heightened global volatility.

The index evaluates export preparedness across parameters like export infrastructure, business ecosystem, policy and governance and export performance using multiple indicators.

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Compared with earlier editions, the 2024 index expands its analytical scope.

Niti Aayog member Arvind Virmani said states and Union Territories should identify sector-specific strengths and address weaknesses to sustain export momentum, while ensuring product quality.

Uttarakhand, Jammu & Kashmir and Nagaland are the top performers among smaller states, as per the latest report.

The report said that one of the targets for the country is to scale up its manufacturing output to contribute 10% to global manufacturing GDP by 2047, underscoring the sector's centrality to India's economic transformation.

International trade assumes a pivotal role in India's development, serving as a key driver of industrial growth, job creation and integration into global value chains, the report said.

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