Bengal is looking to double its annual exports over the next decade (2023-2033) and a new export policy is awaiting the state cabinet’s approval.
In 2022-23, total merchandise exports of India was $450.96 billion. Of this 2.83 per cent was from Bengal with the state exports pegged at Rs 1 lakh crore.
A meeting was chaired on Friday by the chief secretary along with industry stakeholders, including representatives from World Bank, export councils and trade bodies, to review the status of work done.
Sanjay Budhia, co-chair of the International Trade and Logistics Sector, said, “The whole focus was how to double Bengal’s exports from Rs 1 lakh crore within the next decade. With the world looking at India as the next manufacturing hub, the state has all the potential to grab this opportunity to maximise exports in different sectors such as engineering, gems & jewellery, leather, tea, and apparel,” he told The Telegraph.
“Holding the meeting at Nabanna itself and chaired by the chief secretary sends a very positive signal to the industry which will further enthuse and energise all exporters,” he said.
Bengal is negotiating financial assistance from the World Bank for a proposed programme titled ‘Boosting Logistics Efficiency and Trade Facilitation’. The programme aims to strengthen institutional capacity for promoting trade and logistics, reduce trade costs and improve logistics efficiency to further augment the pace of exports.
