UP Aims to Double Exports to $50 Billion by 2030

New Delhi, Sep 13 (PTI) The UP government hopes to double the state's exports to USD 50 billion by 2030 despite the prevailing global uncertainties.

The UP Cabinet recently approved the Uttar Pradesh Export Promotion Policy 2025-30 that will play a significant role in driving this ambition while contributing significantly to the growth in state's Gross State Domestic Product (GSDP).

The policy entails several out-of-box initiatives like incentives for service sector exports & start-ups, ODOP (One District, One Product) goods for export, trade facilitation centres, marketing and freight support among others that will help bring about a remarkable transformation in the State economy and create employment for the youth, UP Minister of Industrial Development and Export Promotion Nand Gopal Gupta 'Nandi' said.

The minister said that the policy has been expanded to include onboarding assistance, export performance-based incentives, and support for post office export centres and export credit insurance, besides grants for expenses on ECGC coverage and performance-linked incentives that will not only incentivise new exporters and startups but also help the state double its exports by 2030.

The policy places a special focus on the following sectors, namely electronics, handicrafts, engineering goods, textiles, carpets, agriculture, chemicals, pharmaceuticals, leather goods, sports products, glass and ceramics, wood products, and the service sector, including education, medical, travel, logistics, tourism, and IT/ITES.

Uttar Pradesh is the first state in India to offer incentives specifically for service sector exporters, he added.

Under the Service Sector Marketing Development Assistance Scheme, exporters from 12 identified champion sectors will receive financial aid of up to Rs 2 lakh for participation in international fairs, up to Rs 1 lakh towards expenses for air travel for International Fairs and up to Rs 50,000 for stalls and Rs 25,000 for air travel for participation in domestic fairs of international calibre.

The policy has also allocated funds to establish Merchandised Trade Facilitation Centers (MTFCs) in export-heavy districts, with a budget of Rs 7.5 crore. Additionally, a Services Trade Facilitation Center will be set up in Gautam Budh Nagar at a cost of Rs 2.5 crore.