Export Preparedness Index (EPI)

Why in news?

• The 3rd edition of the Export Preparedness Index (EPI) for States/UTs of India for the year 2022 will be released by NITI Aayog on July 17, 2023.

More about the News:

• The report provides an overview of India’s export performance in FY22 in the context of the global trade scenario and examines the performance of different sectors in terms of exports.
• It also emphasizes the importance of developing districts as export hubs in the country and presents a district-level analysis of merchandise exports in the country.

About Export Preparedness Index (EPI):

• The Export Preparedness Index (EPI) is a comprehensive tool that assesses the export preparedness of the States and UTs in India.
• The index conducts a comprehensive analysis of States and UTs across export-related parameters to identify their strengths and weaknesses.
• The methodology for the index is an evolving process that constantly incorporates stakeholder feedback.

Objectives:

• To provide a comprehensive and objective assessment of the export preparedness of the states and UTs, as well as to highlight their achievements and best practices.
• To foster a spirit of competitive federalism among the states and UTs.
• To enhance cooperation between them and the Centre, to achieve sustainable economic growth and development for India.

PRACTICE QUESTION:

Export Preparedness Index (EPI), a comprehensive tool that assesses the export preparedness of the States and UTs in India, is prepared by:

(a) Ministry of Commerce and Industry

(b) NITI Aayog

(c) National Statistics Office (NSO)

(d) Reserve Bank of India

Answer