To help States draw up their export policies, Export-Import Bank of India (Exim Bank) is offering them market advisory services, according to a top official.
The financial institution has told the Commerce Ministry that if there are any gaps in State Governments’ export policies then it will fill those gaps via studies, among others, on products to be exported, export markets to be tapped, locating overseas buyer(s) for products and services, and logistics.
According to Yaduvendra Mathur, Chairman and Managing Director, exports from the country will constitute an important component of the Centre’s “Make in India” campaign and Exim Bank will support this initiative.
“ As part of this strategy, we have engaged with (the State governments of) Assam, Madhya Pradesh, and Rajasthan. We have started with these three States to work on their export strategy.
“We have helped Assam and Rajasthan to write their export policy. These States have sent their policies to the Commerce Ministry. So, all States are preparing their export strategies,” said Mathur.
He observed that if there is a good export policy then value addition of raw materials can happen. It can create jobs. So, properly framed export strategies can really deliver.
“Exim Bank will support the States (to formulate export policies). We cannot support all States because our capacity is limited. So, we plan to engage with 6-8 States, which are laggard in exports, this year.
“Gujarat and Maharashtra don’t need Exim Bank. They are far ahead in exports. Through the States we will endeavour to reach out to far more number of small and medium enterprises. Directly, we cannot reach out to all enterprises because we are a small bank,” the Exim Bank chief said.
Underscoring the Government’s “Make in India” and “Export from India” thrust, Mathur said about three months ago, the Centre had written to all State governments to appoint an export commissioner. The Government has reiterated that all States should have an export commissioner.