According to the NITI Aayog report, Maharashtra has left Tamil Nadu behind on the export front.Image Credit source: ChatGPT
Many states have contributed significantly to India’s exports. In which Tamil Nadu has always been a top performer. But a report of NITI Aayog has surprised the entire country. According to ET report, Maharashtra, Tamil Nadu, Gujarat, Uttar Pradesh and Andhra Pradesh have emerged as the top five export-ready states of India in NITI Aayog’s Export Preparedness Index 2024. These states come under the category of big states. The special thing is that in this index, Maharashtra has left Tamil Nadu behind and secured the number 1 position. Let us also tell you what kind of report has been presented by NITI Aayog.
Maharashtra left Tamil Nadu behind
According to this index released on Wednesday, Maharashtra has overtaken Tamil Nadu and secured the first position in the ranking of 2024. This ranking takes into account the performance during FY 2022 to FY 2024, while in the Export Preparedness Index of 2022, Tamil Nadu was ranked first, followed by Maharashtra, Karnataka, Gujarat and Haryana. However, the Commission said that the Export Preparedness Index of 2024 cannot be compared with the Export Preparedness Index of 2022, as the entire methodology of valuation of states has changed.
Uttarakhand tops among small states
Uttarakhand tops the ranking of small states, north-eastern states and union territories, followed by Jammu and Kashmir, Nagaland, Dadra-Nagar Haveli, Daman-Diu and Goa. NITI Aayog CEO BVR Subramaniam said that the world is going through very turbulent times, but these turbulent times provide opportunities to move forward. According to Subramanian, exports are one of the key drivers of growth and fundamental to India’s aspiration to become a $30 trillion economy, of which exports account for $7.5 trillion. He further said that states have an important role in this and NITI Aayog’s Export Preparedness Index 2024 provides guidance to the states to boost their exports.
How was the index and ranking prepared?
EPI 2024, prepared by NITI Aayog in collaboration with Deloitte, evaluates states on 70 parameters under four key pillars and 13 sub-pillars. These four pillars include export infrastructure, policy and governance, export performance and business ecosystem. The weight of the first three pillars is 20 percent, while the weight of the business ecosystem is 40 percent in the index. Additionally, five new dimensions have been added to EPI 2024, while 19 parameters from the previous edition have been removed or merged, and 8 parameters have been advanced to provide practical insights and remain relevant to the macroeconomic climate. The five new dimensions added include macro economy, human capital, MSME ecosystem, financial access and credit and cost competitiveness.