UP's exports of goods increase by 32% in April-July period

4 Oct 2022 , 09:10 AM

The Uttar Pradesh merchandise exports increased 32% year over year to Rs 60,578 crore between April and July 2022, despite sluggish economic confidence in important overseas markets.

April through July 2021 saw the state export commodities worth Rs 45,861 crore. An official spokesperson for the government stated that “Uttar Pradesh is ahead of certain important states, including Andhra Pradesh, Haryana, West Bengal, and Odisha, in terms of growth in exports, even while the comparable growth rate of eight Indian states even turned negative.”

Uttarakhand, Tripura, Nagaland, Mizoram, Manipur, Jharkhand, and other states all experienced a sharp decline in exports. A variety of labor-intensive industries, including electrical machinery and equipment, meat, textiles, footwear, autos and auto parts, etc., saw an increase in exports from Uttar Pradesh.

Shipments of electrical machinery and equipment increased by approximately 90%, from Rs7,202 crore in April—July 2021 to Rs13,606 crore in April—July 2022. In the meantime, the UP government wants to boost exports of goods from their present level of Rs. 1.56 trillion to Rs. 3 trillion over the course of the next three years.

The sector of micro, small, and medium-sized companies (MSME) makes up a maximum of more than 70% of the total United States exports.

The state has seen a rise in shipments, particularly since the government put into effect its flagship One District One Product program, which aims to revive the domestic industries through financial injection, capacity building, and marketing support.

To encourage shipments, the state is already transforming each of its 75 districts into an export center. Six of the 50 pan-Indian districts that the Center has chosen to transform into model export centers as part of a pilot project are in the state of Uttar Pradesh: Moradabad, Kanpur, Varanasi, Bhadohi, Agra, and Gautam Buddha Nagar (Noida).

In order to support domestic companies and increase employment, the UP government is also working toward import substitution. UP imported goods worth more than Rs55,000 crore through dry ports in the fiscal year 2021—2022 (railway and road cargo terminals directly linked with domestic seaports).

Yogi Adityanath, the chief minister of Uttar Pradesh, has asked his MSME department to identify the top imports of goods that may be produced domestically instead.

The state has identified 95 commodities that make up its import basket, and of them, 40 items account for imports with values ranging from 100 to over 10,000 crores of rupees. These include items used in agriculture and food processing, chemicals, minerals, precious stones, industrial and engineering products, etc.

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