Kolkata, Feb 9 (KNN) The state government of West Bengal is gearing up to bolster the export potential of the region with a comprehensive set of measures.

In her Budget speech, State Finance Minister Chandrima Bhattacharya announced the West Bengal Export Promotion Policy 2023, crafted to transform the state into a 'global trading hub', on Thursday.

The policy targets doubling the state's share in the country's annual total exports within the coming years.

An Export Facilitation Portal has been launched to streamline processes for all exporters, simplifying their operations and fostering growth.

The top 10 products exported from Bengal, including gold, shrimp, and hairdressing equipment, underline the state's diverse export portfolio.

Sanjay Budhia, Managing Director of Patton Group and Chairman of the CII National Committee on Exports and Imports praised the state budget's focus on exports as a key driver of economic growth.

He highlighted the significance of the new logistics policy and export facilitation centres in accelerating the state's export trajectory.

The government's efforts to formalise Micro, Small, and Medium Enterprises (MSMEs) have yielded promising results, with over 3,55,700 enterprises registered during April-December 2023, nearly double compared to the same period in the previous financial year.

Credit disbursement in the MSME sector has also seen a significant increase, reaching Rs 18,345 crore in 2023, as compared to Rs 70,658 crore in 2022.

Furthermore, initiatives like the Bhabishyat Credit Card scheme have provided financial assistance to thousands of youths, totalling Rs 426 crore.

(KNN Bureau)