Odisha government has targeted to achieve 10% Y-o-Y growth in mineral exports, but the mineral sector will not be in the focused product category list.
Bhubaneswar: Odisha has targeted to achieve 10% Y-o-Y growth in mineral exports during the next 10 years. However, the state has kept the mineral sector out of the focused product category list in its new export policy approved last Friday.
The mineral export from the state in FY14 was INR 76.75 billion. But, target for the current financial year is INR 84.42 billion and for the next fiscal year is INR 92.87 billion. The state aims to export minerals amounting INR 180.97 billion by FY23.
It is believed that viewing the huge demand from different sectors to discourage export of natural resources like minerals, the state has kept the mineral sector out of the focused group list. The state has identified six focused groups based on the state’s potential and possibilities of exports to overseas countries that includes sectors like Agro & forest products, Marine, Engineering & Handloom and Handicraft products.
On the other hand, the state in its export policy has decided to take necessary steps to create containerized facilities on ports located in the state in consultation with the port authorities to facilitate the exporters within state and make their exports competitive.
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