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UP govt's new export policy to provide additional benefits to exporters

2025-01-06 00:00:00.0 商业标准报-经济和政策原网页

The Uttar Pradesh government is drafting a new export policy to boost the state’s share in India’s exports. The move aims to provide additional incentives to exporters.

In the last financial year (FY24), UP’s merchandise exports were worth nearly $20.67 billion, contributing 4.71 per cent to India’s total exports. With the new policy, the government targets to increase this share to 7.5 per cent, a senior official said. For the first six months of FY25, the state logged exports worth $10.56 billion, raising its share in the country's total exports to 4.89 per cent.

The proposed policy would introduce several incentives for exporters, especially in the food processing, handicrafts, and One District One Product sectors. UP is known for its traditional industries, such as Banarasi silk sarees, carpets from Bhadohi, chikan embroidery from Lucknow, Kanpur’s leather goods, and leather footwear from Agra.

The policy would emphasise job creation and offer incentives, including marketing development support, air freight subsidies, international certification subsidies, and gateway port freight subsidies, the official added.

The state government is aiming to achieve merchandise exports worth Rs 3 trillion in the next two to three years. Being a landlocked state, UP is also focusing on creating infrastructure to support its export supply chain.

The state plans to develop all 75 districts into potential export hubs by building a robust network of warehouses, cargo terminals, and trucking hubs. These facilities will be located in industrial zones and near expressway projects.

Under the UP Warehousing & Logistics Policy, the government is offering various financial incentives to attract private investments. Additionally, plans are in place to establish seamless air, water, road, and rail connectivity for enhanced access to global and domestic markets.