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India planning to double agri exports in five years

Category :India Sub Category :National,Business
2009-08-18 00:00:00
   Views : 334

New Delhi, Aug 18 - Despite the ongoing drought conditions and the global recession, India is working on doubling its agricultural exports to $18 billion in five years from now.

'Starting this year, we want to double our exports turnover from $9 billion to $18 billion,' aid Asit Tripathy, chairman of the Agricultural and Processed Food Products Export Development Authority (APEDA), said here Tuesday.

APEDA is the government's agri export promotion agency.

'The products that will be in focus are grapes, pomegranates, dehydrated onions, mango pulp, honey, poultry, egg powder,' he told reporters on the sidelines of a workshop on Achieving Exponential Growth in Agro Products.

With exports worth $9.57 billion, the share of exports from India in the global market is about 1.28 percent.

According to an APEDA statement, agri exports from India during 2000-06 grew by a compound annual growth rate (CAGR) of about 18 percent. This comprises 10 percent of the total merchandise exports from the country.

With an estimated turnover of Rs.400 billion for the year ended March 2009, India has registered a growth of about 25 percent in rupee terms as compared to the previous year.

However, despite being the third largest producer of food, India ranks 20th in food exports.

'Indian exporters need to gear up to the next level. There remain various challenges in front of the government in terms of increasing the productivity, economy of scale and meeting global standards on quality and food safety,' APEDA stated.




Author :Indo Asian News Service



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