WB Government's Tajpur Port Project to Supercharge East and North-East India's Export Potential

Transforming Trade: WB Government's Tajpur Port Project to Supercharge East and North-East India's Export Potential

Kolkata, 23rd August, 2023: In regard to India’s New Foreign Trade Policy, which has set a stage for exporters to Increase the country’s share in Global trade, The ASSOCIATED CHAMBERS OF COMMERCE AND INDUSTRY (ASSOCHAM) in partnership with the Ministry of External Affairs, Government of India hosted a series of workshop for Indian exporters from the region to build up their capacity for active participation in Global Value Chain.

The first of Tri-Series workshop was held in Kolkata on the 23rd of August, aiming to enable enterprises, the Government, and sector-related institutions to better understand regional and global market requirements, opportunities, and challenges and to Increase the international competitiveness of local enterprises for exports.

The gains to an economy from engaging in international trade are well established. The world is witnessing a pickup in global trade; the globalization of the world economy has led to ever-growing interactions between businesses. The export-led economic growth model is imperative if India must achieve sustained double-digit growth, create mass employment opportunities, and increase per capita income. The diversification of exports is crucial for balanced economic growth and is vital to guarantee long-term sustainability and the overall economic welfare of the nation.

The West Bengal government has also taken significant steps to boost the export potential of the state. The New Export Policy, of 2023 aims to make Bengal the “Global trading hub of India” by doubling the share of the state in the Country’s total annual exports over the next decade.

Keynote Speakers at the event included Dr. Rajkumar Ranjan Singh, Hon’ble Minister of State for Ministry of External Affairs, Govt. of India, Mr. Rathendra Raman, IRTS, Chairman, Syama Prasad Mookerjee Port, Kolkata, Dr. Subrata Gupta, IAS, Addl. Chief Secretary, Dept. of Food Processing Industries and Horticulture, Govt. of West Bengal, Mrs. Neelam Rani, IFS, Director, Ministry of External Affairs, Govt. of India, Branch Secretariat, Kolkata, Mr. Abhishek Singh, Joint Secretary (Economic Diplomacy), Ministry of External Affairs, Govt of India, Vandana Yadav, IAS, Principal Secretary, Industry, Commerce and Enterprise Department, CMD, WBIDC.

Guest of Honour, Dr. Rajkumar Ranjan Singh, Hon’ble Minister of State for Ministry of External Affairs, Govt. of India, said,"The foreign trade policy released earlier this year by the Indian government has created a path to increase India's export to 2 trillion dollars by 2030, equivalent to Brazil and Canada's present GDP. We will be seeing a 2.5 times jump in total exports by 2030. The export will have to be a dominant player in India's growth story. We'll have to start building reliable and credible trading partners.

The present Indian govt. is working on modernizing ports, roads, and railways for seamless movement of products across borders. Understanding the preference of foreign markets is crucial in today's digital world. Quality and Innovation are non-negotiable in the International market. By embracing innovation, and modernizing our infrastructure, we can unlock new sources of revenue."

Vandana Yadav, IAS, Chairman and Managing Director, WBIDC said, "The state govt. is working on 3 things. One, the policy framework, second, building infrastructure, third, capacity building. We have come up with WB corridor economic and industry corridor policy so that logistics costs can be reduced. The biggest infrastructure project that the WB government has taken up is the Tajpur Port, which would enhance the export capabilities of the entire east and north-east India. The idea is to build industrial pockets around it so getting approvals and processing becomes easier and faster. We are also coming up with an export promotion policy and a logistics policy. The policies will soon be seeing the light of the day. We have come up with a very unique policy with developers and private players to build industrial parts. The Government will assist the private players in their endeavor."