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Business Standard
28-04-2025
- Business
- Business Standard
UP aims to triple exports to Rs 5 trn in five years with help of new policy
Uttar Pradesh is working on a policy to promote exports and triple the outbound shipment from the state to over Rs 5 lakh crore in the next five years by tapping new markets and products. To achieve the target, the state government is working on a new export policy for 2025-30 which is expected to be approved soon. The thrust of the new policy would be to increase exports three times by 2030 from Rs 1.7 lakh crore in 2023-24 through host of measures including capital subsidy and sops for exporters, UP Minister for Industrial Development and Export Promotion Nand Gopal Gupta Nandi said. "We have extensively studied export policies of various governments across the country and have incorporated best practices in the draft policy. Our aim is to increase UP's contribution in the country's overall exports substantially and the proposed policy will be a step in that direction," he said. The new policy also seeks to provide sops like capital subsidy to investors for developing export infrastructure and proposes setting up a one-stop digital information hub which may provide all relevant information to exporters. For example, he said, the proposed policy seeks to provide up to Rs 10 crore as capital subsidy to investors to build export infrastructure. A dedicated export promotion fund will be set up, which will be used for promoting Brand UP at global conferences and will also provide aid of up to Rs 5 lakh to exporters towards payment of yearly premium under Export Credit Guarantee Corporation of India (ECGC), he said. It also plans to increase aid to each exporting unit to Rs 25 lakh every year as against Rs 16 lakh in the current policy. The new policy is expected to incentivise exporters by up to Rs 30 lakh every year towards transport of goods to gateway port. During 2023-24, UP's share in the country's total export was 4.71 per cent. Exports from Uttar Pradesh stood at Rs 1.70 lakh crore. In the first half of last financial year exports from the state were Rs 87,151 crore. Some of the major exports from the state include electrical machinery, meat, apparel, footwear, pearls and precious stones, carpets, furniture, aluminium products, leather products, organic chemicals, plastic and cereals, among others.
Time of India
28-04-2025
- Business
- Time of India
UP aims to triple exports to Rs 5 lakh cr in next five years with help of new policy
Uttar Pradesh is formulating a new export policy for 2025-30, aiming to triple outbound shipments to over Rs 5 lakh crore in five years. The policy includes capital subsidies, sops for exporters, and a dedicated export promotion fund. It seeks to boost UP's contribution to India's overall exports by incentivizing infrastructure development and providing financial assistance for export-related activities. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Uttar Pradesh is working on a policy to promote exports and triple the outbound shipment from the state to over Rs 5 lakh crore in the next five years by tapping new markets and products. To achieve the target, the state government is working on a new export policy for 2025-30 which is expected to be approved thrust of the new policy would be to increase exports three times by 2030 from Rs 1.7 lakh crore in 2023-24 through host of measures including capital subsidy and sops for exporters, UP Minister for Industrial Development and Export Promotion Nand Gopal Gupta Nandi said."We have extensively studied export policies of various governments across the country and have incorporated best practices in the draft policy. Our aim is to increase UP's contribution in the country's overall exports substantially and the proposed policy will be a step in that direction," he new policy also seeks to provide sops like capital subsidy to investors for developing export infrastructure and proposes setting up a one-stop digital information hub which may provide all relevant information to example, he said, the proposed policy seeks to provide up to Rs 10 crore as capital subsidy to investors to build export infrastructure.A dedicated export promotion fund will be set up, which will be used for promoting Brand UP at global conferences and will also provide aid of up to Rs 5 lakh to exporters towards payment of yearly premium under Export Credit Guarantee Corporation of India (ECGC), he also plans to increase aid to each exporting unit to Rs 25 lakh every year as against Rs 16 lakh in the current new policy is expected to incentivise exporters by up to Rs 30 lakh every year towards transport of goods to gateway 2023-24, UP's share in the country's total export was 4.71 per cent. Exports from Uttar Pradesh stood at Rs 1.70 lakh crore. In the first half of last financial year exports from the state were Rs 87,151 of the major exports from the state include electrical machinery, meat, apparel, footwear, pearls and precious stones, carpets, furniture, aluminium products, leather products, organic chemicals, plastic and cereals, among others.
The Print
26-04-2025
- Business
- The Print
Uttar Pradesh sets ambitious target to triple exports by 2030
Amid the ongoing tariff war between the United States and China, the Yogi Adityanath-led government is gearing up to turn the global economic standoff into an opportunity for the state, the statement added. Lucknow (Uttar Pradesh) [India] April 26 (ANI): The Uttar Pradesh (UP) government has set an ambitious target of tripling its export by 2030, as the ongoing tariff war between the United States and China has provided an opportunity for the state, an official statement said on Saturday. It further stated that while the standoff between the two global superpowers presents a broader opportunity for India, Uttar Pradesh, with its improving law and order situation, world-class infrastructure, and abundant skilled workforce, is positioning itself as a preferred investment destination. Chief Minister Yogi Adityanath often praises the One District One Product (ODOP) scheme on public platforms, saying that since its launch, Uttar Pradesh's exports have risen from Rs 88,967 crore to over Rs 2 lakh crore. The UP government expressed confidence in infrastructural developments such as expressways, domestic and international airports, and inter-state waterways, along with low-cost labour and a thriving micro, small, and medium enterprise (MSME) sector, which will help businesses in the state. The state government said that Uttar Pradesh has emerged as a strong contender to attract businesses looking to shift operations away from China. 'To turn this potential into reality, the state government is now working on introducing a new export policy. As part of this initiative, the government will make 'Invest UP' more efficient and transparent to facilitate seamless investor engagement and drive foreign investment,' the statement added. Notably, in order to promote the branding of Uttar Pradesh's products in India and abroad, the state government organises the International Trade Show at the India Expo Centre and Mart in Greater Noida. This year, the event will be held from September 25 to 27, with Vietnam as the partner country, the state government said. The show will give lakhs of people from India and 70 other countries a chance to experience 'Brand UP'. To make the event more impactful, as per the state, the government will run large-scale promotions at key locations including Maharashtra, South Indian states, Delhi, Jaipur, Ahmedabad, Indore, and major airports and railway stations. Additionally, the upcoming export policy will include an Export Promotion Fund to help boost Brand UP globally, the statement added. Uttar Pradesh already leads the country in leather and footwear exports, contributing 46 per cent of India's total exports in this sector. To further strengthen this position, the government is set to introduce a dedicated Leather and Footwear Policy–making UP the second state after Tamil Nadu to do so. This policy is expected to benefit regions like Kanpur, Unnao, and Agra. As per the statement, the ongoing US-China trade war could be a golden opportunity for India's MSME sector. Currently, China exports everyday goods worth USD 148 billion to the US, holding a 72 per cent market share, while India's share is just 2 per cent. Many of these goods are made in MSME units. Uttar Pradesh leads the country with over 96 lakh MSME units, as per the state. 'To help these businesses compete globally, the state government regularly conducts training programmes to improve product quality and competitiveness. This has led to a noticeable rise in exports, especially for products under the One District One Product (ODOP) scheme,' said the state's note. (ANI) This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.
Time of India
26-04-2025
- Business
- Time of India
Uttar Pradesh sets ambitious target to triple exports by 2030
The Uttar Pradesh (UP) government has set an ambitious target of tripling its export by 2030, as the ongoing tariff war between the United States and China has provided an opportunity for the state, an official statement by the state said on Saturday. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Uttar Pradesh (UP) government has set an ambitious target of tripling its export by 2030, as the ongoing tariff war between the United States and China has provided an opportunity for the state, an official statement said on the ongoing tariff war between the United States and China, the Yogi Adityanath-led government is gearing up to turn the global economic standoff into an opportunity for the state, the statement further stated that while the standoff between the two global superpowers presents a broader opportunity for India, Uttar Pradesh, with its improving law and order situation, world-class infrastructure, and abundant skilled workforce, is positioning itself as a preferred investment Minister Yogi Adityanath often praises the One District One Product (ODOP) scheme on public platforms, saying that since its launch, Uttar Pradesh's exports have risen from Rs 88,967 crore to over Rs 2 lakh UP government expressed confidence in infrastructural developments such as expressways, domestic and international airports, and inter-state waterways, along with low-cost labour and a thriving micro, small, and medium enterprise (MSME) sector, which will help businesses in the state government said that Uttar Pradesh has emerged as a strong contender to attract businesses looking to shift operations away from China."To turn this potential into reality, the state government is now working on introducing a new export policy. As part of this initiative, the government will make 'Invest UP' more efficient and transparent to facilitate seamless investor engagement and drive foreign investment," the statement in order to promote the branding of Uttar Pradesh's products in India and abroad, the state government organises the International Trade Show at the India Expo Centre and Mart in Greater Noida. This year, the event will be held from September 25 to 27, with Vietnam as the partner country, the state government show will give lakhs of people from India and 70 other countries a chance to experience 'Brand UP'.To make the event more impactful, as per the state, the government will run large-scale promotions at key locations including Maharashtra, South Indian states, Delhi, Jaipur, Ahmedabad, Indore, and major airports and railway the upcoming export policy will include an Export Promotion Fund to help boost Brand UP globally, the statement Pradesh already leads the country in leather and footwear exports, contributing 46 per cent of India's total exports in this sector. To further strengthen this position, the government is set to introduce a dedicated Leather and Footwear Policy--making UP the second state after Tamil Nadu to do so. This policy is expected to benefit regions like Kanpur, Unnao, and per the statement, the ongoing US-China trade war could be a golden opportunity for India's MSME sector. Currently, China exports everyday goods worth USD 148 billion to the US, holding a 72 per cent market share, while India's share is just 2 per cent. Many of these goods are made in MSME Pradesh leads the country with over 96 lakh MSME units, as per the state."To help these businesses compete globally, the state government regularly conducts training programmes to improve product quality and competitiveness. This has led to a noticeable rise in exports, especially for products under the One District One Product (ODOP) scheme," said the state's note.
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Business Standard
24-04-2025
- Business
- Business Standard
UP to promote manufacturing, preparing policy for Rs 5 trn annual exports
The Uttar Pradesh (UP) government is preparing a new export policy that will give incentives to manufacturers for promoting industrial growth and 'boosting shipments', a senior government officer has said. The state is promoting manufacturing to attain its target of Rs 5 trillion in annual exports in four to five years. It made exports worth Rs 1.71 trillion in FY24. The state aims to increase its share in India's export basket from 4.71 per cent to 7.5 per cent over the years. The new export policy will attract domestic and global investments. "It will offer incentives to manufacturers for promoting industrial growth and boosting shipments," said the officer. The policy will 'catalyse' the state's ambition of becoming a $1 trillion economy in four to five years and bolster the Brand UP theme. It is expected to provide Rs 10 crore as capital subsidy to investors to strengthen export infrastructure, said the officer. A dedicated fund will be instituted to support businesses to participate in global marketing and export events. It will provide subsidies for air and port freights, and international certification. Financial assistance to export units will be hiked from Rs 16 lakh to Rs 25 lakh per annum. The state is developing its 75 districts as potential export hubs, setting up a network of warehouses, cargo terminals and trucking hubs. These infrastructure projects will be developed in industrial pockets and near expressways for fueling the local economy and creating jobs. Under the UP Warehousing & Logistics Policy, the government offers various financial incentives for attracting private investments. Various places in Uttar Pradesh are famous for traditional products: Varanasi for Banarasi silk sari, Bhadohi for carpets, Lucknow for chikan and Kanpur for leather goods.
