Lucknow: Union Minister of State for Commerce and Industry Anupriya Patel said that the country’s product and export power will be reflected in the Dubai Expo, which will run from October 1 to March 1 next year. In which India will actively participate.
She said the whole world will see the quality of Lucknow’s Chikankari and Bhadohi’s carpets. She added that there is an Advance Authorization Scheme to promote exports, under which all the items required for export products will be duty free. The Vanijya Utsav is being held at Indira Gandhi Pratishthan.
On this occasion, the Union Minister of State for Commerce and Industry said that for the financial year 2020-21, the outstanding export incentive amount of more than 56 thousand crore rupees has been released by the Central Government.
The Union Minister said that India’s global economy will grow at the rate of 6 percent in the coming financial year and global merchandise will grow to 8 percent in 2021. She said that in this financial year 2020-2021, the central government’s target of merchandise export is $ 400 billion. In 2027-2028, we will increase this to 2 trillion dollars. Of this two trillion dollars — one trillion dollars will be contributed by merchandise exports. One trillion dollars will be contributed by service exports. She added India’s exports have increased by 67 percent within the last five months despite the odd circumstances of Corona. In the first five months of last year, the Indian government’s exports were $ 98 billion, which has increased to $ 164 billion this year. A lot of work has been done on the infrastructure with the joint initiative of the Center and the Uttar Pradesh government, for which the capacity should also be promoted to small scale industries and exports Uttar Pradesh is at number five with the rate of 5.6 percent. 80 percent of the state’s export credit goes to the ODOP scheme. Uttar Pradesh is the first state to have its own agriculture export policy.