By Tricitynews
Chandigarh 29th Mar, 2019:- S Prahalathan, Chief General Manager, EXIM
Bank, India, said that Punjab has very good prospects to revive its exports,
and be amongst the top 10 exporting States in the country.
S Prahalathan said further that besides,
agriculture and allied industries, should the latent potential in textiles and
automotive industries are captured, Punjab’s economy is bound to see a
northward movement.
Exim Bank apart from financing, facilitating
India’s trade and investment has also been supporting various States in the
country to identify new horizons for exports. In the process the Bank has been
conducting state-level Studies to assess the opportunities various Indian
States have. Some of these Studies have been done in conjunction with the State
Government.
Bank is currently undertaking a preliminary
Study to identify the export potential of Punjab. Exports from Punjab have
registered a negative annual average annual growth of 4.4 percent between
2013-14 and 2017-18. According to the latest figures exports stands at US$ 5.7
billion.
S. Prahalathan based on a detailed analysis
opines that with an enabling export ecosystem, the State could almost double
its exports to US$ 10.3 billion by 2022-23, should it grow in tandem with
India’s expected export growth. India has set a target to double its
merchandise exports by 2024-25.
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.
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