Cabinet clears agriculture export policy to take shipments to $60 billion by 2022

NEW DELHI: Seeking to double agricultural export to $60 billion by 2022, the Union Cabinet on Thursday authorized a maiden export policy for the farm sector that imposes no restrictions on export of all organic and processed products.

However, export policy for number one agricultural products, like onion, would reviewed periodically on a case-to-case basis depending on price-supply situation, said commerce minister Suresh Prabhu after the Cabinet meet.

"The policy aims at doubling agricultural shipments to over $60 billion by 2022," he said, including that reaching the objective was "doable".

He said the farm exports have grown by 20 in line with cent in a year.

Agricultural exports are recently estimated at $30 billion.

Prabhu said there was a time when India used to import agricultural products, but now it's exporting in a big way.

He rued India had no export policy for agricultural products in spite of a major manufacturer.

Prabhu said the first ever 'Agriculture Export Policy, 2018' would lend a hand the federal government in attaining the objective of doubling farmers' source of revenue.

The policy aims to boost exports of agriculture commodities similar to tea, espresso and rice and increase the rustic's proportion in international agri-trade.

The policy would focal point on all aspects of agricultural exports together with modernising infrastructure, standardisation of products, streamlining rules, curtailing knee-jerk decisions, and focusing on research and development actions.

It will even seek to take away all kinds of export restrictions on organic products, the minister added.

The implementation of the policy may have an estimated monetary implication of over Rs 1,400 crore.

As in line with an official liberate, the target of the policy is to diversify export basket, locations and spice up prime worth and worth added agricultural exports.

It will even supply an institutional mechanism for pursuing market get admission to, tackling boundaries and deal with sanitary and phyto-sanitary issues.

Other objectives of the policy is to try to double India's proportion in international agri exports by integrating with international worth chain at the earliest and permit farmers to get good thing about export opportunities in overseas market.

Prabhu said the policy has arrived at after consultation with state governments. He said states have also agreed to take away 'mandi tax' and reforms in Agriculture Produce Marketing Committee (APMC) norms.

To operationalise the policy, the federal government would focal point on growing agri clusters, advertise worth added shipments, attract non-public funding and infrastructure development.

Cabinet clears agriculture export policy to take shipments to $60 billion by 2022 Cabinet clears agriculture export policy to take shipments to $60 billion by 2022 Reviewed by Kailash on December 07, 2018 Rating: 5
Powered by Blogger.