Rajasthan Government Aims for Rs 1.5 Lakh Crore Export Milestone by 2029

Jaipur, Sep 17 (KNN) In a bold move to bolster its economic growth, the Rajasthan government has set a challenging target to elevate its exports to Rs 1.5 lakh crore by 2029.

This ambitious goal comes on the heels of a recent dip in exports during the April-June quarter of the current fiscal year, highlighting the state's determination to enhance its global trade footprint.

The state's Industries Department has unveiled a comprehensive draft policy aimed at achieving this export milestone. This draft policy lays out a multi-faceted strategy encompassing objectives, identified thrust areas, and both fiscal and non-fiscal incentives.

Key areas of focus include strengthening logistics, upgrading export infrastructure, and enhancing air cargo services to streamline export operations.

Ajitabh Sharma, Principal Secretary of the Industries Department, emphasised the policy’s focus on supporting new exporters. "Our initiatives include assistance in packaging, labelling, standardisation, quality assurance, and training for navigating import-export codes," Sharma noted.

The policy is also designed to bolster competitiveness, promote sustainable and inclusive economic growth, and create job opportunities within the state.

A standout feature of the draft policy is its provision for reimbursing exporters up to 75 per cent of their costs, capped at Rs 3 lakh annually.

This reimbursement will cover expenses related to international trade fairs, exhibitions, and buyer-seller meets, both within India and abroad, aimed at enhancing the visibility of Rajasthan’s products and services on the global stage.

The policy also prioritises product diversification through value addition, investment in research and development, and comprehensive market research to enrich the export ecosystem. Emphasis will be placed on raising product quality, facilitating certification, and undertaking sector-specific skill development.

By 2029, the policy aims to double the workforce in exporting industries, which will include leveraging strengths in textiles, handicrafts, gems and jewellery, and dimensional stones, while also promoting high-potential sectors such as agro and food processing, engineering goods, and pharmaceuticals.

In a broader context, similar initiatives are being reported elsewhere in the country. The central government has recently introduced incentives for courier-based exports and is considering extending these benefits to postal route exports.

Additionally, there is a push to develop logistics infrastructure in Goa to enhance export capabilities and industrial growth.

Overall, Rajasthan's strategic policy is a testament to its commitment to transforming its export sector and achieving significant economic milestones in the coming years.

(KNN Bureau)