Kerala: Draft Export Policy to tap global markets

Thiruvananthapuram, Oct 30 (IANS) To unlock full potential of global demand for wide range of high-quality goods and services of Kerala, the state government has drawn up a comprehensive draft Export Promotion Policy (EPP) and has also proposed a slew of incentives and other institutional supports for stakeholders.

The government has made the EPP draft public to elicit views and suggestions from stakeholders and the public has seen making a strong case for adopting targeted strategies and initiatives for enabling exporters to make a mark on the global stage by tapping into the immense demand for world class products and services from the state.

The draft policy is drawn up by the state’s investment promotion agency Kerala State Industrial Development Corporation (KSIDC) on behalf of the Department of Industries and Commerce (DI&C).

After obtaining the views and suggestions, the draft policy will be submitted to the government for approval.

The policy is expected to be finalised and notified by January 2024.

The EPP propose a range of supportive measures including a district-oriented approach to tap the outside markets for products from different regions.

The focus sectors identified by the draft EPP include spices, horticulture and agriculture products, sea food, processed food products, engineering goods, petrochemical products, organic and inorganic chemicals, textiles and garments, defence and aerospace, electronics and ancillary engineering and technology, ayurveda and pharmaceuticals and healthcare among others.

Besides proposing a comprehensive framework to provide financial incentives and institutional backups for exporters, the draft EPP also calls for efficacy of funding, performance management and import substitution to bolster the value-chain.

Pointing out that Kerala was ranked 16thamong Indian states in the Export Preparedness Index-2021 of NITI Aayog, the EPP notes that absence of an enabling state export policy, inadequate district-wise export plans and excessive reliance on a few commodities and select countries are the reasons for the state to lag in the export segment.

 It also suggests streamlining procedures and fostering innovation and skill development, strengthening the collaboration among the stakeholders, government and academia to enhance productivity and create sustainable and inclusive growth.