Odisha’s exports doubles in 2016-17; targets Rs 1 lakh crore by 2025
Bhubaneswar: Export turnover of Odisha registered a staggering growth from Rs 19,082 crore in 2015-16 to Rs 40,872 crores in 2016-17 marking an increase of nearly 114%.
Most significant increase has been seen in Software/Electronics sector which grew at 287% followed by pharmaceuticals at 242%.
While exports of minerals grew from Rs 2762.49 crore to Rs 8389.53 crores, Engineering/Chemical & Allied sectors saw an increase of 200% from Rs 1497.65 crores to Rs 4478.72 crores.
Metallurgical exports grew by 104% from Rs 12335.80 crores to Rs 25,185.93 crores.
Meanwhile, MSME Secretary L.N. Gupta said that Odisha is targeting achieving an export turnover of Rs 1 lakh crore by 2025.
Addressing a seminar on export finance here, Gupta said a draft Odisha Export Policy, 2017 has been prepared laying emphasis on promotion of exports both from the traditional and non-traditional sectors.
The Export Policy will be in alignment with the Foreign Trade Policy of India (2015-2020), he added.