Cabinet Approves Policy to Double Farm Exports to $60 Billion by 2022
Commerce Minister Suresh Prabhu said that the government aims to double India's farm exports to $60 billion by 2022 by integrating with "the global value chain at the earliest."
Image for representation.
New Delhi: The Cabinet on Thursday approved a policy to boost exports of farm commodities such as tea, coffee, fruits and vegetables, Commerce Minister Suresh Prabhu said.
The policy, approved at a cabinet meeting, is aimed at helping the country step up exports of an array of farm goods but also seeks to avoid ad hoc, knee-jerk policy decisions often aimed at keeping a lid on food inflation.
The government aims to double India's farm exports to $60 billion by 2022 by integrating with "the global value chain at the earliest," Prabhu told a news conference.
The idea behind the policy was to help farmers cash in on export opportunities, he said.
The government has yet to announce full details of the new policy but has said it will include improving infrastructure for farm exports and the government will seek to avoid introducing export curbs when food inflation spikes.
Export curbs invariably anger farmers - one of the biggest voting blocks in India.
Angry farmers have lately staged protests in New Delhi and Mumbai to demand better prices for their crops.
The BJP will face the general elections next year and the last time a BJP government lost power, in a 2004 election, it was largely because rural voters abandoned the party.
The government’s fickle policies on farm trade have also hurt India's role as a steady player in the global market.
The Federation of Indian Export Organisations, the main body of exporters, said "switch on, switch off" policies had prevented India from emerging as a reliable supplier of farm commodities, even in surplus years.
The National Agriculture Export Policy would also focus on infrastructure improvement and ensure state governments play a bigger role in boosting farm exports, said Prabhu
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.
Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.
Recommended For You
- Sonam Kapoor Hits Back at Trolls Targeting Her Sindhi-Peshawari Lineage
- Couldn't Have Dreamt the Blessings God Showered on Me: Kohli
- How Dare Someone Constantly Make Us Soft Targets: Karan Johar Reacts Angrily to Drug Party Claims
- Weekly Tech Recap: Realme 5 Series Launch, Reliance Jio Fiber, PUBG Mobile 0.14.0 Update and More
- PV Sindhu Chases Elusive Gold at BWF World Championships