पत्रिका जगत Positive Journalism
Jaipur, July 6, 2018:Export-Import Bank of India, in association with Federation of Indian Export Organisation, organized a seminar on ‘Export Potential of Rajasthan’ on July 6, 2018 at Jaipur. Speakers from the Ministry of Industries, Rajasthan Government, Rajasthan Chamber of Commerce & Industry, MSME Development Institute, Directorate General of Foreign Trade and Exim Bank provided their insights to the MSME exporter community of Rajasthan from sectors such as textiles, handicrafts, gems & jewellery, agro products and marble.
Rajasthan has an agricultural economy with nine agro-climatic zones and various types of soil that help in the cultivation of crops. It is among the largest mineral-producing states in India with around 81 varieties of minerals available in the state of which 57 are produced on a commercial scale. The statealso contributes significantly to production of dimensional and decorative stones, such as marble, sandstone, and granite etc. Pearls, precious and semi-precious stones are the most exported commodity from Rajasthan followed by manmade yarn, fabrics, plywood & allied products, zinc and products made of zinc, gold and other precious metal jewellery, auto tyres and components and other miscellaneous engineering items. Top export destinations include US, UK, Hong Kong, Germany and UAE.
Given the availability of resources and export potential, the Government of Rajasthan is promoting the development of several SEZs across the state for sectors such as gems and jewellery, handicrafts, IT, electronics, automotive/auto components and textiles.
Aresearch paper published by Exim Bank, titledPromoting Exports from Rajasthan: Insights and Policy Perspectives, highlights that the Export Promotion Strategy envisages accelerated across-theboard engagement for expanding the State’s export base. This includes infrastructural upgradation and strengthening of standards. Given that tariffs across the world are either already too low or declining in theface of globalisation, adhering tostandards will be crucial for improvingmarket access. It will therefore beessential for Rajasthanto streamline standards regulationsand quality assessment systemat the State level and align it withthe strategies of the Ministry ofCommerce, Government of India.This will require close consultationswith national level standard settingbodies. Strengthening of supply anddemand driven infrastructure canalso help enhance the State’s exportcompetitiveness, and boost value-added exports from the State.
Collectively, these strategies can helpthe State of Rajasthan in scripting anew narrative of export resurgencetogether with employment generation.The growth of 2.5 times in the valueof exports by 2022 shall translateinto substantive outcomes whichshall have a bearing on the overallmacroeconomics of the State, and asa corollary, on the overall developmentof the Indian economy.
Exim Bank was set up in 1982 for financing, facilitating and promoting India’s foreign trade. It is the premier financial institution in the country for coordinating the working of institutions engaged in financing exports and imports and is fully owned by the Government of India. Export-Import Bank of India provides financial as well as value-added services to Indian exporters. The Bank has a number of financing programmes like the Lines of Credit for overseas entities, national governments, regional financial institutions and commercial banks; Overseas Investment Finance Programme to help greenfield and brownfield expansion of Indian companies; Buyers’ credit (and also Buyers’ Credit under the National Export Insurance Account); Project Exports Finance; and other short-term and long-term financing programmes to promote exports of Indian companies. The Bank also provides value-added information, advisory and support services, which enable exporters to evaluate international risks, tap export opportunities and improve their competitiveness. In an endeavour to enhance India’s international trade and to reduce the asymmetry in information availability of trade finance and credit insurance facilities amongst MSME entrepreneurs, Exim Bank has launched a portal, ‘Exim Mitra’, which aims to make a concerted effort towards fulfilling twin objectives, namely providing information on credit availability for exports, and delivering trade related information.
