Exim Bank’s Releases Study Entitled ‘Export Strategy for Madhya Pradesh’

Mumbai, July 5, 2018: Exim Bank has published a Study for the Government of Madhya Pradesh (GoMP) entitled ‘Export Strategy for Madhya Pradesh’. The Study was released on Wednesday, June 27, 2018 by the Hon’ble Minister of State, GoMP, Department of MSME, Shri Sanjay Satyendra Pathak, in the presence of Shri V.L. Kantha Rao, Principal Secretary, GoMP, Department of MSME. The Study maps the Export Potential of the State and identifies Strategies for Export Promotion from MP.

The Study traces the past export performance of the State. Export registered an average annual growth of 1.7 percent between 2012-13 and 2016-17 to reach US$ 4.4 billion. This growth was higher than India’s overall exports, which recorded a decline during the same period.

Based on a detailed analysis, the Study opines that with an enabling export ecosystem, the State could achieve exports of US$ 10 billion by 2021-22. The broad contours of this enabling environment would inter-alia include improvement in institutional and export infrastructure in the State, whilst adopting a focused approach on select sectors.

In order to arrive at such focused sectors, the Study analyses the demand-supply dynamics of the products currently being exported from the State. Based on this,   the Study identifies various products at HS-6 digit level of classification, focusing on which could push the exports from the State to a significantly higher growth trajectory.

The Study suggests multiple strategies in order to achieve the US$ 10 billion export mark by 2021-22. These measures include attracting investments in the high value added and Hi-Technology sectors; setting up of Madhya Pradesh Export Promotion Council: having a Centralized Export Administration in place; identifying new Geographical Indications products; tapping the latent potential of tourism in attracting overseas visitors; and setting up Inland Container Depots in the Eastern part of the State, amongst others.