Maharashtra Leads NITI Aayog's Export Preparedness Index 2024
Maharashtra has overtaken Tamil Nadu to become the top-ranked state in the NITI Aayog’s latest Export Preparedness Index (EPI) for 2024.
State Rankings and Changes
- Gujarat improved its position to third place from fourth.
- Uttar Pradesh and Andhra Pradesh rose to fourth and fifth positions from seventh and eighth, respectively.
- Karnataka fell three places to sixth, and Haryana dropped five spots to tenth.
State Grouping and Classification
- States are grouped into two categories:
- Large States - 17 states
- Small, Northeastern states & Union Territories (UTs) - 19 states
- Classifications include Leaders, Challengers, and Aspirers.
Ranking Criteria
- Four main pillars:
- Export Infrastructure
- Business Ecosystem
- Policy and Governance
- Export Performance
Maharashtra's Performance
Despite its top rank, Maharashtra's export performance declined by 7.3% year-on-year, dropping from ₹6.1 trillion in FY23 to ₹5.6 trillion in FY24, mainly due to a decline in the gems & jewellery sector.
Karnataka's Challenges
- High operational costs due to labor wages, real estate, and energy, especially in cities like Bengaluru.
- Concentration of exports in few districts leads to uneven regional development.
Index Methodology
- The report uses 70 parameters, including 50 vital metrics and 20 desirable ones.
- Enhancements in the EPI 2024 include new dimensions such as macroeconomy and cost competitiveness.
Other Highlights
- In the small states’ category, nine emerged leaders including Uttarakhand and Jammu and Kashmir.
- India aims to build an $8-10 trillion export economy by 2047.
