Government formulates strategy to promote export from North-Eastern states
With an aim to boost the export from North-Eastern (NE) states, the government is now up with a robust strategy to promote locally produced agricultural products to the international markets. The NE region is geopolitically important as it shares international boundaries with China and Bhutan, Myanmar, Nepal and Bangladesh making it the potential hub for the export of agricultural produce to neighbouring countries as well as other foreign destinations.
Ministry of Commerce & Industry in its latest notification noted that there has been a significant increase in the export of agricultural produce from NE states like Assam, Nagaland, Manipur, Mizoram, Tripura, Arunachal Pradesh, Sikkim and Meghalaya in the last few years.
Besides, the NE region witnessed an 85.34 percent growth in the export of agricultural products in the last six years as it increased from $2.52 million in 2016-17 to $17.2 million in 2021-22. The major destination of export has been Bangladesh, Bhutan, the Middle East, the UK and Europe.
Tag News
Monthly Debt Market Update, September 2023: CareEdge Ratings