New policy on anvil, U.P. aims to triple exports

Several incentives in the pipeline for exporters. Under the new policy, financial assistance to each exporting unit will be increased to Rs 25 lakh every year as against the current aid of Rs 16 lakh.

- Pawan Dixit

LUCKNOW: As the state aims to become a trillion-dollar economy by 2029, the Uttar Pradesh government is finalising a new draft policy-2025-30 with an aim to triple exports by 2030, up from Rs 1.70 lakh crore in 2023-24.

The move comes as exports are expected to play an important role in achieving the trillion dollar economy milestone. The step is also in conjunction with revamping Invest U.P. for attracting more investment to the state. The policy has been finalised and will be put before the state cabinet soon.

"The draft of the new export policy is being finalised. Soon, it will be put before the state cabinet. We aim to increase the state's share in the country's exports substantially," said minister for industrial development Nand Gopal Gupta 'Nandi'.

"In the new policy, several incentives have been provided to exporters. Promotion of exports from the state will be at the same level at which the state government is inviting investors," the minister added.

The new policy will also provide aid to 12 service sectors which are identified by the Union government as champion sectors.

The state government will also provide capital subsidy to investors for developing export infrastructure.