Export turnover of Odisha jumped whopping 114 per cent this year vis-a-vis last year. while the state had exported worth Rs 19082 crore in 2015-16, the export has gone up to Rs 40,872 crore during 2016-17, an official source said.

The growth has been mainly due to increase in the value of exports of iron ore, bulk minerals and ores, residual chemical and allied products, iron and steel, aluminium and aluminium and petroleum products, sources said.

“This is an unprecedented growth both in terms of quantity and value. We are expecting a further growth this year as two In-land Container Depots (ICD) will be set up at Jharsuguda and Balasore shortly. Besides, Marine Products Export Development Authority and Export Inspection Agencies to commission their laboratories by August 2017. These initiatives will certainly give a boost to export from the state in coming years,” said MSME secretary L N Gupta.

The export turnover of the state was merely Rs.563 crore in 2001-02, which increased by 15 times to Rs.8917 crore in 2005-07. Due to global recession and reduction in price of steel, the export turnover, however, nosedived to Rs.1215 crore during 2007-08. Since the year 2008-09 the value of exports from Odisha has been rising on sustained basis.

“The export turnover, which was Rs.15411 crore only in 2008-09, has now risen to a level of Rs.40879 crore in 2016-17 thus registering an increase of Rs.165% in the last 9 years,” Gupta said adding “The process of formulating Odisha Export Policy-2017 is in the process.”

Source: Times of India