Shri Dharmendra Pradhan, Hon’ble Minister, Ministry of Education, Government of India, during the CII Exim Conference 2024, in Kolkata on 20th August said, “India has been the 7th largest service exporter and have 46 percent of global digital payment”. During the conference organized by CII Eastern Region, the Hon’ble Minister highlighted that eastern region of India could diversify its economy beyond mining and minerals and needs to focus on sectors with global export potential such as food processing, logistics, Information Technology, marine, and fisheries.
The Hon’ble Minister further added that the region has contributed 6.8 percent of the national exports in 2023-24. The Hon’ble Minister emphasized that the country’s young population as a key driver of industrial growth. He also stated that Eastern region of the country has a large pool of skilled workforce and that needs to be channelized. Furthermore, Shri Dharmendra Pradhan recommended CII to offer guidance and assistance to startups to sustain their increasing momentum.
Shri Shantanu Thakur, Hon’ble Minister of State, Ministry of Ports, Shipping and Waterways, Government of India, outlined the crucial role of logistics and exports in driving manufacturing and job creation in the region. Citing the fact that India’s logistics costs account for 14 per cent of GDP compared to 10 per cent in BRICS nations, he emphasized the need for efficient implementation of the National Logistics Portal. This unified platform connecting all the stakeholders, for simpler, faster and more affordable services, fostering trade and economic development. This would improve efficiency, transparency and lowering costs and time delays and realising simpler, quicker and more affordable services offerings to enhance trade.
As a sign of a robust state economy Dr Shashi Panja Hon’ble Minister, Department of Industry, Commerce & Enterprises, Government of West Bengal, pointed that the expected GSDP of West Bengal for 2024-25 is INR 18.8 trillion. She also mentioned about the newly launched West Bengal Export Promotion Policy, 2023, and highlighted various export-oriented training programs initiated by the State Government. She further mentioned about the four industrial corridors in West Bengal, pointing out that the state boasts the largest warehousing capacity in the eastern region and the second-largest cold storage facilities in the country. Recognizing West Bengal as the second-largest MSME hub in India, she discussed initiatives like Bangashree and the MSME Facilitation Centre (MFC) by the State Government.
Mr Hugh Boylan, Consul General, Australian Consulate General highlighted that a country can be economically stronger when global trade flows freely and modern trade challenges can be best met with cooperations. Free Trade Agreements (FTAs) can address these challenges and deliver the solutions to prosper economically.
Mr Nakagawa Koichi, Consul-General of Japan talked about the recent investments of Japan in India and advocated the efficiencies of bilateral trade between India and Japan. He stated that 1400 Japanese business establishments are in India including in Eastern region” there are investments.
Recognizing the Eastern region as a cornerstone of India’s global ambitions, as our Prime Minister stated in 2015, Mr Suvendra Kumar Behera Chairman, CII Eastern Region & Vice Chairman & Managing Director RSB Transmissions (I) Ltd in his remarks said that the conference brings together key stakeholders to explore and expand international trade opportunities in the region.
Mr Shashwat Goenka Deputy Chairman, CII Eastern Region & Vice Chairman, RP Sanjiv Goenka Group highlighted India’s robust export growth amidst global trade challenges, driven by initiatives like PLI and Make in India. With merchandise exports surging and a global trade footprint expanding across continents, India aims for a $1 trillion merchandise export target by 2030. To achieve this, he advocated that a coordinated strategy is crucial, leveraging FTA benefits, focusing on emerging markets, and harnessing cross-border e-commerce.