With a goal to double up the agricultural export quantity from current $37 billion to $60 billion by 2022, the Union Cabinet has cleared the Agriculture Export Policy which will help in boosting India’s agricultural trade share in international market.
Citing the distress among farmers for agriculture trade stagnancy, the government has passed the Agriculture Export Policy which will focus on doubling the income of farmers by promoting more export of agro products. Under this policy, export of India-grown agricultural commodities like tea, coffee and rice will be boosted to almost double, and hence will increase India’s share in farm product trade in global market. The goal here is to double up the agricultural export quantity from current $37 billion to $60 billion within four years i.e. by 2022.
Another objective of the new Agriculture Export Policy is to diversify and expand the products that are currently being exported and also explore new export destinations. Using structured institutional mechanism, the government also aims to boost high-value and value-added exports with a focus on perishable commodities that are exclusive to India, and tackle the possible market barriers. And there’s more, this policy is also expected to “promote the export of novel, indigenous, organic, ethnic, traditional and non-traditional”.
Talking about the Cabinet clearance of the new policy, agriculture minister Suresh Prabhu said that implementation of this policy will give a much-needed thrust to value-added products, promotion, and branding of produce of India. Not only will this help India in stepping closer to becoming an “export-centred” economy, but it will also nurture a healthy import-export cycle that involves and benefits all Indian farmers and strengthens India’s stand in global value chain.