Jammu and Kashmir Trade Promotion Organization (JKTPO), a Government of Jammu and Kashmir Undertaking, collaborated with Directorate General of Foreign Trade (DGFT) to achieve the vision of Export promotion in UT of J&K with its registration drives for handholding the potential Exporters from J&K and facilitating them in getting new Importer-Exporter Code (IEC) which resulted in net increase of export registrations by 173%.
IEC is a key business identification number that is mandatory for exports or imports. Further, number of issued IEC in Jammu and Kashmir has increased from 204 new registrations in 2020 to 557 in 2021.
As per data, a total of 2863 IEC registrations been done till date in Jammu and Kashmir. Also, the value of Exports in the UT from the last five years has increased from US$ 124.47 million to US$ 159.64 million.
This was one of the prioritized initiatives of JKTPO under the aegis of Department of Industries and Commerce for Export Promotion in the UT. As per the vision of ‘District as Export Hub’ of Government of India, JKTPO in collaboration with DGFT has organized various registration drives, training cum capacity building workshops for strengthening the Export scenario of J&K.
More than 40 ODOP items from all 20 districts of J&K have been selected and finalized by APEX Level Export Promotion Committee. A series of Buyer seller meets has been organized in association with different Consulates in order to promote various products from Agriculture & Handloom and Handicraft Sector and intends to do the same in near future also.
JKTPO intends to create an international brand for all the identified local products and will give all the necessary support to interested exporters for promotion of their products and making connections with interested importers.
In a statement, Managing Director JKTPO, Ankita Kar said that, “As per the vision of Prime Minister each district of our country has a diverse identity and potential for global market and we from the Department of Industries and Commerce have reached out to existing and potential Exporters.
The UT of J&K under the active guidance of Lieutenant Governor, Jammu and Kashmir is now on a fast transition path for opening global markets for the UT’s products and services”.
Furthermore, Suvidh Shah, Joint Director General of Foreign Trade said, ”We are extremely happy to share that there is a big hike in registration of Importer-Exporter Code from UT of Jammu and Kashmir in this year as compared to previous year”.