Government to develop 50 districts as export hubs
- IBEF
- October 26, 2022
With global headwinds affecting exports, the Union Budget is expected to announce a Rs. 2,500 crore (US$ 303.14 million) scheme to develop 50 districts as export hubs. The programme will assist domestic producers in these districts in scaling up production and finding potential buyers outside of India.
The government will select 50 districts through a challenge under the proposed scheme, and each will receive Rs. 50 crore (US$ 6.06 million). The districts' plans for exports, efforts to fill infrastructure and logistics gaps, and cluster approach to exports will be evaluated. Due to the fact that it will be a centrally sponsored scheme, the Directorate General of Foreign Trade (DGFT) has proposed that the Centre pay 60% of the estimated cost, with the remaining burden falling on the respective states.
Since FY17-18, the department of commerce has also been implementing the Trade Infrastructure for Export Scheme, with the goal of assisting central and state government agencies in the creation of appropriate infrastructure for export growth.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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