India creates matrix for 50 farm products to boost exports

Business Monday 11/April/2022 07:45 AM
India creates matrix for 50 farm products to boost exports

New Delhi: Buoyed by a record over $50 billion worth of exports of agricultural products in the financial year ended March 31, the central government has created matrix for 50 farm products to further boost shipments, the Union Ministry of Commerce & Industry said on Saturday.

India's agricultural exports rose by 19.92 per cent during 2021-22 to touch $50.21 billion against $41.87 billion recorded in the previous year.

The Ministry of Commerce & Industry said the sharp increase in growth during the financial year 2021-22 was largely due to the various initiatives taken by the government through the Agricultural and Processed Food Products Export Development Authority (APEDA) such as organising B2B exhibitions in different countries, exploring new potential markets through product-specific and general marketing campaigns by the active involvement of Indian Embassies.

The Centre organised more than 300 outreach programmes in collaboration with state governments for enhancing the exports of agricultural produce.

"We have also created products matrix for 50 agricultural products which have good scope for expanding our exports portfolios," said M Angamuthu, Chairman, APEDA.

The Centre has also taken several initiatives to promote geographical indications (GI) registered with agricultural and processed food products in India by organising virtual Buyer Seller Meets on agricultural and food products with the major importing countries across the world.

In order to ensure seamless quality certification of products to be exported, the government has recognised 220 labs across India to provide services of testing to a wide range of products to exporters, the Ministry of Commerce and Industry said.

According to the Directorate General of Commercial Intelligence and Statistics (DGCI&S) data, export of rice was the top forex earner at $9654 million during 2021-22, growing 9.35 per cent from the previous year when it touched $8829 million.

The export of wheat touched an all-time high at $2118 million in 2021-22, growing 273 per cent from 2020-21 when it touched $567 million, while other cereals registered a growth of 53 per cent by fetching $1083 million in 2021-22 in comparison to the previous financial year when it touched $705 million.

Export of pulses reported a growth of 34 per cent touching $358 million in 2021-22 from $265 million in 2020-21.

APEDA's major exporting destinations as per 2021-22 data are: Bangladesh, UAE, Vietnam, USA, Nepal, Malaysia, Saudi Arabia, Indonesia, Iran and Egypt.