Exporters should look at newer markets: V-P

Chennai, April 25 (IANS) Vice President M. Venkaiah Naidu on Monday urged the exporters to look at newer markets to increase their exports.

He also said the ambitious project of ‘District Export Hub’ announced by the Government of India in 2019 is expected to boost exports.

“Most of the 775 districts across the country are having the potential of becoming export hubs. I am told that GI (Geographical Indication) products are being given a fillip in this endeavour,” Naidu said at a function to distribute Export Excellence Awards for units located inside the MEPZ Special Economic Zone (SEZ).

Congratulating the various award winners, Naidu said the country’s exports have grown manifold in recent years.

“There was a record achievement of 418 billion US dollars of merchandise exports in the just-concluded 2021-22 financial year. Services exports were about 250 billion US dollars. Together, they make up to 670 billion US dollars, a remarkable achievement in spite of the pandemic,” he said.

The Vice President said the SEZs contribute about 28 per cent of India’s export basket. SEZs along with Export Oriented Units (EOUs) contribute about one-third of the country’s exports.

Naidu said the economic landscape of Tamil Nadu will change on the completion of the Chennai-Bangalore Industrial Corridor Project and the Chennai-Kanyakumari Industrial Corridor Project and give a huge thrust to exports.