Government to review six-year-old policy to promote agricultural exports

Mumbai: The government is considering reviewing the six-year-old agriculture export policy in view of changing global market dynamics. The government believes that efforts to increase India’s agricultural exports are necessary. The objective behind the review of agricultural export policy is to increase the competitiveness of the country’s agricultural sector, comply with global standards and promote value-added products.

Government sources said the government wants to position the country’s agricultural products in emerging markets while maintaining export ties with traditional partners.

Agricultural export policy will have to be reviewed keeping in mind the changing market demand so that export targets can be achieved. India’s agricultural export figure, which was $51.12 billion in fiscal year 2023, declined to $48.77 billion in fiscal year 2024.

Sources said the government believes that changes in global demand, expansion in trade partnerships and technological developments in the agriculture sector have affected agricultural export patterns and establishments.

The review of the agricultural export policy will identify the benefits of the existing policy and areas for improvement. India’s agricultural exports include rice, fruits, tea, coffee, wheat, etc. However, agricultural exports have been affected due to geopolitical headwinds arising globally.