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LATEST NEWS UPDATES | India reaps high growth from agriculture, allied products in FY22 -Subhayan Chakraborty

India reaps high growth from agriculture, allied products in FY22 -Subhayan Chakraborty

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published Published on Jan 12, 2022   modified Modified on Jan 16, 2022

-Moneycontrol.com

An intense focus on securing market access abroad and promoting Indian goods saw dozens of new products including Himachali millets and Chandauli’s black rice being shipped from India to several new destinations such as the UAE, and Denmark

India’s agriculture and allied exports grew at a brisk 21 percent in the first eight months of the current financial year despite broken supply chains and various challenges brought about by the COVID-19 pandemic. Exports were boosted by increased access to markets in the United States, European Union and the United Arab Emirates, and targeted efforts by the government to expand the global reach of processed food from India.

Commerce ministry data shows that exports of farm produce, both processed and unprocessed, climbed to $29.51 billion between April and November 2021. The government expects total exports from the sector to rise to $43 billion by March 2022.

The growth in farm produce exports was led by a sharp rise in the exports of non-basmati rice, other cereals, dairy items and sugar, all of which grew by at least 40 percent in the April-November period of 2021-22.

Data showed that while the global commodity supercycle played a part in raising the prices of non-food products such as tea, cotton and rubber, prices of food products have remained stable.

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Moneycontrol.com, 12 January, 2022, https://www.moneycontrol.com/news/business/economy/india-reaps-high-growth-from-agriculture-allied-products-in-fy22-7922681.html


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