Merchandise exports from Odisha witnessed a significant jump to $11,931 million in 2023-24 from $116.59 million in 2001-02, contributing 2.71% to India’s total exports, minister of state for commerce and industry, Jitin Prasada, informed the Rajya Sabha on Friday.
Responding to a question from MP Niranjan Bishi, the minister detailed the state’s major export commodities. Aluminium and its products led the export basket at $4,490.54 million , followed by iron and steel ($2,551.39 million) and iron ore ($2,541.93 million). Other significant exports included petroleum products ($939.78 million), processed minerals ($541.78 million) and marine products ($466.44 million).
The minister highlighted several govt initiatives to boost exports, including the implementation of a new foreign trade policy launched on March 31, 2023. The interest equalization scheme on pre and post-shipment rupee export credit has been extended until Dec 31.
Various support schemes have been introduced, including — Trade Infrastructure for Export Scheme (TIES), Market Access Initiatives (MAI), Agricultural & Processed Food Products Export Development Authority (APEDA) schemes, Marine Products Export Development Authority (MPEDA) assistance, Rebate of State and Central Levies and Taxes (RoSCTL) and Remission of Duties and Taxes on Exported Products (RoDTEP).
Govt has also launched the ‘districts as export hubs’ initiative to identify and promote district-specific products with export potential. A common digital platform for certificate of origin has been implemented to facilitate trade and increase Free Trade Agreement utilisation.
The recently launched ‘Trade Connect’ e-platform on Sept 11 aims to provide comprehensive services to both new and existing exporters by connecting Indian missions abroad with the department of commerce and other organisations.