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Puducherry records 20% growth in exports

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PUDUCHERRY : The Union Territory clocked a 20% growth in exports during 2021-22 over the previous fiscal, according to the Federation of Indian Export Organisations (FIEO). Government focused considerable effort on making Puducherry a favoured investment destination ,said Industries Secretary T. Arun,

The FIEO, which hosted a session on entrepreneurship development in international trade jointly with the District Industries Centre, noted that total exports from Puducherry during 2021-22 was to the tune of 443 million USD, which was 20% higher than the net export value in 2019-20.

Though the Union Territory exports about 100 products to various overseas markets, the top ten items from the export basket such as handicrafts, garments, processed foods, pharmaceuticals and chemicals, account for 90% of the goods., the FIEO said

Mr. Arun highlighted various initiatives taken by the government including ‘Ease of Doing Business’ to make Puducherry an investment-friendly place.

He also offered all support to the exporters, especially to MSMEs, in improving their business.

Unnikrishnan K, Joint Director General, FIEO, while welcoming the delegates laid out the huge opportunities to reach 1 Billion USD exports from Puducherry by focusing on UAE and Australia markets where India signed Free Trade Agreements (FTAs). Products in textiles, garments, pharmaceuticals, engineering and automobile parts that are manufactured in Puducherry have huge potential to grow in these markets, he said.

Sanjeev Bhatnagar, Additional Commissioner, GST and Central Excise, outlined the trade facilitation measures undertaken by the Government. R. Vijendran, GST and CE Assistant Commissioner, Jose Charles, Joint Director, BIS, Chennai, and officials of the Export Credit Guarantee Corporation and Indian Bank participated.

Various trade promotion organisations made presentation on making products more competitive in the global market. The event was hosted to help entrepreneurs gain export knowledge, educate them on opportunities available in the international market and also help the Union Territory achieve higher growth, the FIEO said.

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