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Chennai, Oct 10 The government's One District One Product - District Export Hub (ODOP-DEH) initiative can also focus on capitalising on raw materials and intermediate goods in addition to geographical indication (GI) products, said a top economist at State Bank of India (SBI).He also said the country should capitalise on China+1 strategy.In a report, Dr Soumya Kanti Ghosh, Group Chief Economic Adviser said that with 55 per cent of India's gross domestic product (GDP) coming from the service sector, services exports may be given a more prominent place under ODOP-DEH.Focus of ODOP-DEH on GI products is good, however it can also focus more on capitalising on raw materials and intermediate goods for integrating in global value chains, Ghosh said.According to him, capitalising on the China+1 strategy of global corporations India should also avoid protectionism and correct inverted duty structures for boosting export competitiveness.Furthermore, progress results of district level export indicators have to be published on a monthly/quarterly basis in comparison with baseline data of September 2020.Under ODOP-DEH, products/services with export potential have been identified in 733 districts across the country including agricultural and toy clusters and GI products in these districts.Exports of Andhra Pradesh, Bihar, Chhattisgarh, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Sikkim, Telangana, Uttar Pradesh and West Bengal have increased more than thrice since the introduction of ODOP-DEH initiative.These states include all top 10 states with export preparedness except Tamil Nadu whose export increased more than twice.Ghosh said that India's merchandise exports touched a record $420 billion in FY22. In FY23, exports have so far recorded $229 billion in H1FY23 and at this rate, India's exports are on par to overtake $420 billi on in current fiscal.Various factors such as exports of finished or intermediate goods, push from production linked incentives scheme, and multi-year high commodity and food prices are contributing to this export growth, he added.Government of India's consistent and concerted endeavours to usher in reforms for boosting agricultural exports have been highly fruitful and currently showing results.India's agricultural exports rose remarkably despite COVID-19 and crossed the $50 billion mark in FY22. Efforts are being made to expand India's agri-export basket and promote export of products unique to India, he said.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Group Chief Economic Adviser, NewsFOLLOW

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National :One District One Product Export Hub can capitalise on raw materials, intermediate goods

Chennai, Oct 10 The government's One District One Product - District Export Hub (ODOP-DEH) initiative can also focus ... ...