Telangana ranks 10th in Niti Aayog's Export Preparedness Index 2021
NITI Aayog vice-chairman Rajiv Kumar said the growth of India’s exports is 36%, while the world trade growth is 30%
By Newsmeter Network Published on 26 March 2022 8:18 AM GMT
Hyderabad: Telangana ranked tenth in the newly-released Export Preparedness Index 2021 released by the Niti Aayog which is aimed at assessing the readiness of the states in terms of their export potential and performance. Gujarat, for the second consecutive time, ranked number one on the list followed by Maharashtra, Karnataka, Tamil Nadu, Haryana, Uttar Pradesh, Madhya Pradesh, Punjab, Andhra Pradesh, and Telangana.
The Export Preparedness Index (EPI) 2021 is a comprehensive analysis of India's export achievements. The index can be used by states and Union Territories (UTs) to benchmark their performance against their peers and analyse potential challenges to develop better policy mechanisms to foster export-led growth.
The EPI ranks states and UTs on four main pillars – policy, business ecosystem, export ecosystem, and export performance – and 11 sub-pillars – export promotion policy, institutional framework, business environment, infrastructure, transport connectivity, access to finance, export infrastructure, trade support, R&D infrastructure, export diversification, and growth orientation.
Releasing the report, NITI Aayog vice-chairman Rajiv Kumar said the growth of India's exports is 36%, while the world trade growth is 30%. "After a very long time, we will see India's share in world merchandise trade increasing from 1.6 to 1.7%," he said, adding that sectors that contributed to the growth include vehicles, electrical machinery, iron, and steel. Mr. Kumar said that the value of global trade is US$ 24 trillion, of which India's export is worth US$ 400 billion, so there is "massive" potential. He called for a target to quadruple India's share in the global trade in the next 10 years. He also urged all states to have district export plans and promotion committees.
The ranking showed that there are some states which can do much better by preparing an institutional and policy framework for exports, Mr. Kumar said and added that some of the performances of missions abroad can be measured in terms of export expansion in their markets.
