Odisha’s Merchandise Exports Soar to $11.93 Billion in 2023-24

Odisha, Dec 21 (KNN) Merchandise exports from Odisha have witnessed a remarkable rise, surging to USD 11,931 million in 2023-24 from a modest USD 116.59 million in 2001-02, accounting for 2.71 per cent of India’s total exports. 

This was revealed by Minister of State for Commerce and Industry, Jitin Prasada, in the Rajya Sabha on Friday, in response to a query from MP Niranjan Bishi.

Aluminium and its products topped Odisha’s export basket, contributing USD 4,490.54 million, followed by iron and steel at USD 2,551.39 million, and iron ore at USD 2,541.93 million. 

Other significant export commodities included petroleum products (USD 939.78 million), processed minerals (USD 541.78 million), and marine products (USD 466.44 million).

The minister highlighted various government initiatives aimed at bolstering exports. The new Foreign Trade Policy, launched on March 31, 2023, and the extension of the Interest Equalisation Scheme on pre- and post-shipment rupee export credit until December 31, have provided critical support to exporters.

Additionally, several schemes such as the Trade Infrastructure for Export Scheme (TIES), Market Access Initiatives (MAI), and incentives under APEDA and MPEDA have been instrumental in promoting agricultural and marine exports. 

Tax relief measures, including the Rebate of State and Central Levies and Taxes (RoSCTL) and the Remission of Duties and Taxes on Exported Products (RoDTEP), have further enhanced the competitiveness of Odisha’s exports.

The government’s ‘districts as export hubs’ initiative, which identifies and promotes district-specific products with export potential, is also driving growth. 

To streamline trade processes, a common digital platform for certificates of origin has been implemented to facilitate Free Trade Agreement (FTA) utilisation.

In a bid to connect exporters with global markets, the ‘Trade Connect’ e-platform was launched on September 11. This platform integrates Indian missions abroad with the Department of Commerce and other organisations, providing a comprehensive suite of services for both new and established exporters.

Odisha’s export growth underscores the state’s emerging role in India’s global trade landscape, supported by targeted government policies and infrastructure development.

(KNN Bureau)