Export promotion policy of TN, India targets $100 bn revenue by 2030

With an export revenue target of $100 billion by 2030, south Indian state Tamil Nadu’s chief minister MK Stalin recently released the state’s Export Promotion Policy. A two-pronged approach — export promotion and export diversification — will be followed. Two economic employment enclaves will be developed in Manaellore and Thoothukudi for balanced export growth.

Speaking at the Tamil Nadu Exports Conclave, Stalin said the state should regain the glory of international trade it enjoyed in ancient times.

The policy has identified 10 export hubs and shall strengthen export related common infrastructure projects in these hubs by reimbursing 25 per cent of the project cost, subject to a ceiling of ₹10 crore per hub, according to media reports from the state.

With an export revenue target of $100 billion by 2030, south Indian state Tamil Nadu’s chief minister MK Stalin recently released the state’s Export Promotion Policy. A two-pronged approach—export promotion and export diversification—will be followed. Two economic employment enclaves will be developed in Manaellore and Thoothukudi for balanced export growth.

Schemes have been formulated to provide special package incentives in order to encourage exporters to produce value-added products.

The Tiruppur Exporters’ Association has welcomed the policy.

 

Fibre2Fashion News Desk (DS)