Kerala Unveils New Export Promotion Policy 2025
Kerala's new export promotion policy aims to make the state a leading export hub, focusing on key sectors like spices, seafood, and technology. The policy includes financial incentives, infrastructure support, and digital platforms to boost exports.
Illustration: Uttam Ghosh/Rediff.com
Thiruvanathapuram, Jan 28 (PTI) The Kerala cabinet on Tuesday approved its export promotion policy 2025, formulated with the objective of making the state a leading export hub in the global export arena.
The state, with its unique blend of natural resources, skilled workforce, cultural heritage and business environment, will provide an opportunity for exporters to enter new partnerships and establish their presence globally, an official release here said.
The missions include utilisation of the state's natural strengths including its natural resources, skilled workforce and strategic geographical location.
As per the policy document, the government aims to establish export hubs in select areas to maximize its export potential. Skill development and capacity building will be promoted to improve the competitiveness of existing export units.
The policy also aims to promote research in various fields and adoption of innovative technologies, and to facilitate collaboration between industry, academia and research institutions.
This will create a conducive environment for the development of cutting-edge products and services that can meet the needs of the global market by promoting innovative entrepreneurship, the policy document said.
The policy stresses the need for adopting environmental-friendly practices, recognising the importance of sustainability in international trade and the long-term policy decision to adopt environmental, social, and governance (ESG) practices.
The government will focus on developing world-class infrastructure, including logistics, transportation and connectivity, to ensure smooth and efficient movement of goods and services.
New export opportunities and potential markets within and outside traditional sectors will be identified to facilitate market access, conduct trade missions, participate in international trade fairs, and support market research, it said.
The policy focusses on sectors with high growth export potential including spices, horticulture and agriculture products, shrimp and other marine products and processed food products.
Other areas identified with export potential include engineering goods, petrochemical products, organic and inorganic chemicals, textiles and garments, defense and aerospace, electronics and allied manufacturing, ancillary engineering and technology, ayurveda and pharmaceuticals, IT, healthcare and G1 listed products from the state, it said.
As part of export infrastructure support, the government will provide a one-time subsidy of 25 percent of the infrastructure investment capped at Rs 1 crore to exporters to set up facilities.
This will be provided to entities within the state as a means of bridging the gap in availing assistance under the trade infrastructure for export scheme of the union government, it said.
Units exported from the state will be given one percent incentive of the free on-board (FOB) value for three years.
A total 50 per cent of logistics costs for exporting products will be reimbursed, subject to a limit of Rs 15 lakh per unit per year for five years from the date of the first export of the establishment, it said.
The policy also offers export marketing assistance, documentation assistance and other financial aid from a special fund which will be set up to help exporters, besides schemes for export training, skill development, research and development and advisory services.
The government will also create a state-sponsored digital platform that will connect exporters with global buyers, simplify export procedures, and provide access to trade-related information, market trends, and logistics support, it added.
The state, with its unique blend of natural resources, skilled workforce, cultural heritage and business environment, will provide an opportunity for exporters to enter new partnerships and establish their presence globally, an official release here said.
The missions include utilisation of the state's natural strengths including its natural resources, skilled workforce and strategic geographical location.
As per the policy document, the government aims to establish export hubs in select areas to maximize its export potential. Skill development and capacity building will be promoted to improve the competitiveness of existing export units.
The policy also aims to promote research in various fields and adoption of innovative technologies, and to facilitate collaboration between industry, academia and research institutions.
This will create a conducive environment for the development of cutting-edge products and services that can meet the needs of the global market by promoting innovative entrepreneurship, the policy document said.
The policy stresses the need for adopting environmental-friendly practices, recognising the importance of sustainability in international trade and the long-term policy decision to adopt environmental, social, and governance (ESG) practices.
The government will focus on developing world-class infrastructure, including logistics, transportation and connectivity, to ensure smooth and efficient movement of goods and services.
New export opportunities and potential markets within and outside traditional sectors will be identified to facilitate market access, conduct trade missions, participate in international trade fairs, and support market research, it said.
The policy focusses on sectors with high growth export potential including spices, horticulture and agriculture products, shrimp and other marine products and processed food products.
Other areas identified with export potential include engineering goods, petrochemical products, organic and inorganic chemicals, textiles and garments, defense and aerospace, electronics and allied manufacturing, ancillary engineering and technology, ayurveda and pharmaceuticals, IT, healthcare and G1 listed products from the state, it said.
As part of export infrastructure support, the government will provide a one-time subsidy of 25 percent of the infrastructure investment capped at Rs 1 crore to exporters to set up facilities.
This will be provided to entities within the state as a means of bridging the gap in availing assistance under the trade infrastructure for export scheme of the union government, it said.
Units exported from the state will be given one percent incentive of the free on-board (FOB) value for three years.
A total 50 per cent of logistics costs for exporting products will be reimbursed, subject to a limit of Rs 15 lakh per unit per year for five years from the date of the first export of the establishment, it said.
The policy also offers export marketing assistance, documentation assistance and other financial aid from a special fund which will be set up to help exporters, besides schemes for export training, skill development, research and development and advisory services.
The government will also create a state-sponsored digital platform that will connect exporters with global buyers, simplify export procedures, and provide access to trade-related information, market trends, and logistics support, it added.
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