Mumbai: ‘Vanijya Utsav’, a two-day event will start at the World Trade Center, Mumbai with a focus on the promotion of exports from India. Industries Department, Government of Maharashtra in collaboration with Gem and Jewellery Export Promotion Council (GJEPC) and DGFT is organizing ‘Vanijya Utsav’, a two-day event (21st and 22nd September 2021) at the World Trade Center, Mumbai. This is planned in accordance with the events to commemorate the monumental occasion of the 75th Anniversary of Indian Independence, by the Government of India, under which the Department of Commerce is organizing ‘Vanijya Saptah’ from 20th to 26th September 2021 with a focus on economic growth and promotion of exports from India.
The event aims to bring together all the relevant stakeholders under a single roof to highlight the progress made in exports from Maharashtra, showcase export potential, hold panel discussions and focus on strategies to improve export scenarios from the State. The event will be inaugurated by Shri Subhash ji Desai, Hon’ble Minister Of Industries and Mining, in the august presence of Shri Raosaheb ji Danve, Hon Minister for State for Rail, Coal and Mines, Government of India, and Smt Aditi Tatkare, Minister of State for Industries and Mining. The event will be attended by senior officials from the State and Central Government and around 200 dignitaries are expected to participate in the event.
Overview of the Programme:-
The program will comprise of a panel discussion on various sectors Food, Engineering, Textile, Leather, Chemicals and Pharmaceuticals, Gems and Jewellery, Handicraft and Services which contributes export significantly from Maharashtra. To add more depth to the event other discussions with relevant organizations such as DGFT, Customs, Consulate Generals, Infrastructure bodies and Financial organizations among many others to help in understanding and promoting the exports from the state of Maharashtra.
Maharashtra’s Economic Snapshot: Maharashtra is leading in the Economy, GSDP, Industries, and services sectors in India.
- As the country grows each day, we have contributed a lot to this progress and shall keep doing in the future. Maharashtra is the largest economy in the country, with a whopping USD 480 Billion contributing 15% of India’s GDP. With 31.4% of FDI flows in our State & a contribution of 25% of countries exports, Maharashtra is growing and we shall continue upgrading the export ecosystem to nourish the Export sector.
- At current prices, Maharashtra’s gross state domestic product stood at Rs. 26.62 trillion (US$ 366.67 billion) in 2020-21AE. GSDP increased at a CAGR 6.42% from 2015-16.
- The State capital, Mumbai, is known as the trade and commerce capital of India. It is
also the financial center of India and evolved into a global financial hub.
- Maharashtra is the leading State for exports in India; the total exports constitute 22.7% of India’s exports.
- The total export value of Maharashtra is USD 58.40 Bn (INR 4,31,699.84 Crore) in FY 2020-21.
- Maharashtra will act as a benchmark for other states regarding exports and export supply chain in the current financial year.
- Top sectors for exports from the state is Precious Stones and Jewellery, Drugs and Pharmaceuticals, Motor Vehicles & Cars, Engineering products, Iron & Steel, Textiles and Agro & Food products.
- The Gems and Jewelry sector in India is one of the largest in the world, contributing to 29% of global demand
- The State accounts for approximately 35.1% of the country’s output of automobiles by value.
- The Food processing industry (FPI) in Maharashtra has more than a 13% share in Indian food processing.
- There has been a significant growth in exports from year to year from Maharashtra and this would help in achieving the 100 billion export target for India.
Major Exports from Maharashtra: –
- The total exports of Gems and Jewellery Exports in FY 2020-21: USD 18.64 Bn (71.17% of the total exports of India) and the sector is expected to grow to USD 19.57 Bn (approx. 5% growth). Currently the top markets for export are Hong Kong, USA, Belgium, UAE, Israel.
- The total exports for Pharmaceuticals Exports in FY 2020-21: USD 3.6 Bn (18.92% of the total exports of India), and the sector is expected to grow to USD 3.99 Bn (10.72% CAGR)
- The Auto and Auto Components Exports in FY 2020-21 stood at USD 1.3 Bn (25.54 % of the total exports of country) and is expected to grow to USD 1.33 Bn (approx. 2% growth). Top countries for exports are USA, Germany, Italy.
- In Agriculture sector, the top exported products are Sugar, Grapes, Onion and the exports for the same are:
Sugar: Exports in FY 2020-21 is USD 1.22 Bn (39% of the total exports of India).
Grapes: Exports in FY 2020-21 is USD 0.53 Bn (39.6% of the total exports of India).
Onion: Exports in FY 2020-21 is USD 0.43 Bn (33.2% of the total exports of India).
The top markets for export are Hong Kong, USA, Belgium, UAE, Israel.
- IT/ITeS exports from Maharashtra in FY 2020-21 stood at USD 20.89 Bn (upto 20% of the total exports of India) and is expected to growth to USD 22.97 Bn USD (approx. 10% growth)
- Textile exports in FY 2020-21 was USD 2.99 Billion and the top exporting countries from Maharashtra are USA, UAE, Nigeria, Senegal, China, Turkey, Bangladesh.
Key government initiatives:
- Magnetic Maharashtra 2.0 Initiative: The government has signed a memorandum of understanding (MoUs) worth Rs. 1,64,000 crore with an employment potential of 3 lakh jobs across the State under the Magnetic Maharashtra 2.0 initiative.
Maharashtra as a state has enormous potential to grow its EXPORTS in each sector, whether it be manufacturing, agriculture, or service sector. This *Vanijya Utsav* would help in creating aware Ness and also helping the businesses to know their potential in Exports and thereby increase their profitability.