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LATEST NEWS UPDATES | India's Agriculture Export Policy: Incidence of non-tariff measures increasing, little understanding of existing restrictions -Seema Bathla & Abhishek Jha

India's Agriculture Export Policy: Incidence of non-tariff measures increasing, little understanding of existing restrictions -Seema Bathla & Abhishek Jha

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published Published on Mar 6, 2019   modified Modified on Mar 6, 2019
-Financial Express

For this, there is a need to have scientific research and adequate data to establish a case.

The Cabinet approved the first Agriculture Export Policy in December 2018, with the aim to double farmers’ incomes and increase agricultural exports to $60 billion by 2022. The policy also focuses on a stable trade regime, diversify exports by products and destinations, and promote perishables and high value-added products. In fact, a sum of Rs. 1,400 crore has been assigned to set up specialised clusters in different states for different produce.

The target, although ambitious, seems achievable in view of India’s rapidly growing food processing industry. From 1981-82 to 2014-15, fixed investment in the organised food and beverage industry across 20 major states increased from `6,21,875 lakh in 1980-81 to `1,06,44,385 lakh, with an annual rate of growth at 9.54% (at 2004-05 prices). The real gross value-added has increased manifold to reach `32,94,243 lakh at an annual growth rate of 5.4% during this period. It appears that the concerted efforts of the ministry of food processing industries to increase private investment through fiscal incentives and other measures have reaped the benefits. Some other initiatives such as investments in mega food parks with state-of-the-art infrastructure and processing facilities, allowing 100% greenfield investments, and incentivising capital subsidy are also gaining ground.

However, the question must be asked: Whether such policies and incentives can help India to be a vivid exporter of processed/value-added agricultural products? A close inspection of the value and share of India’s agricultural exports makes it look equivocal. Agricultural exports stood at $5 billion at the dawn of the opening up of the domestic markets to the world in 1995, and impressively reached $36.8 billion in 2017. In terms of share in total exports, agricultural exports have truncated from 18.2% to 11.68% during the same period. This clarifies that the value of agricultural exports has burgeoned, but their representation in the export basket has plummeted, implying a relatively higher value of non-agricultural products. The lower value of exports can be explained by the fact that India’s export basket consists mainly of low-value and semi-processed commodities such as rice, wheat and marine products.

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Financial Express, 5 March, 2019, https://www.financialexpress.com/opinion/indias-agriculture-export-policy-incidence-of-non-tariff-measures-increasing-little-understanding-of-existing-restrictions/15
 

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