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India's agri exports likely to reach USD 53 bn this fiscal: Govt official.

Date: 22-12-2023
Subject: India's agri exports likely to reach USD 53 bn this fiscal: Govt official
India's agriculture exports this fiscal are expected to reach the last year's level of USD 53 billion despite restrictions imposed on shipments of certain key commodities, including rice, wheat and sugar, according to a senior government official. In 2022-23, the country's agri exports stood at USD 53 billion.

"We expect that we would reach that level in spite of USD 4.5 billion-USD 5 billion impact due to the restrictions," Additional Secretary in the commerce ministry Rajesh Agrawal told reporters here on Thursday.

The government has prohibited exports of wheat and non-basmati white rice and has imposed curbs on sugar exports.

He said the government is promoting exports of new products like bananas and value-added millet products to new global destinations.

"In the next three years, we are hoping to increase banana exports to USD 1 billion," he said.

Exports of fruits and vegetables, cereals, meat, dairy and poultry products registered a healthy growth rate during April-November.

Rice exports, however, declined 7.65 per cent to USD 6.5 billion during the same period.

Source Name : Economic Times

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