Govt to take steps to promote agricultural exports: FM
New Delhi, Feb. 1 (PTI): The government will take steps to boost exports of agriculture commodities which have the potential of reaching US$ 100 billion, Finance Minister Arun Jaitley said on Thursday.
The country's agricultural exports are around US$ 30 billion at present.
”India's agri exports potential is as high as US$ 100 billion against a current export of US$ 30 billion. To realise this potential, export of agri commodities will be liberalised,” Jaitley said while presenting the Union Budget for 2018-19 in the Lok Sabha.
He also proposed to set up state-of-the-art facility in 42 mega food parks.
The announcement assumes significance as the commerce ministry is working on a comprehensive policy covering issues such as logistics to promote export of agricultural commodities like tea, coffee, fruits and vegetables.
India is one of biggest producers and exporters of agricultural commodities.
Elements which could become part of the policy include certification and traceability of items. Besides, the ministry is also in the process of identifying countries where there is a maximum import demand for agricultural goods.
Agri-products account for over 10 per cent of the country’s total exports.
India mainly exports tea, coffee, rice, cereals, tobacco, spices, cashew, oil meals, fruits and vegetables and marine products.
In December 2017, out of 13 agri commodities being tracked by the commerce ministry, five categories — other cereals, cashew, oil meals, oil seeds, fruits and vegetables — reported negative export growth.