Liberal exim policy helped India earn $40 bn forex: Pawar

Agriculture Minister Sharad Pawar on Saturday said a liberal export and import policy has enabled the country to earn $40 billion of foreign exchange in 2012-13. He also said that according to studies, growth in agriculture is twice effective in eradicating poverty as compared to other sectors.

Addressing the third ASEAN-India ministerial meeting in Kuala Lumpur recently, Pawar said India now produces over 260 million tonnes (mt) of cereals, 160 mt of horticulture produce, 133 mt of milk, 35 million bales of cotton and 24 mt of sugar, besides spices, etc.

This has enabled the country to not only meet the demand of 17 per cent of global population residing in India, but have also exported nearly 20 mt of foodgrain, thus, becoming a major contributor to the world food basket.

“It is a matter of great satisfaction that the food basket of my country has been diversified with increasing share coming from relatively under-developed regions,” the agriculture minister said.

He said satisfactory production of foodgrain helped us to roll out Food Security Act in September 2013, which gives legal guarantee of foodgrain to more than 800 million population at affordable prices. “We take pride in mentioning that this is world’s largest social sector programme,” Pawar said at the conference.

He also offered to share India’s vast experience in agriculture with ASEAN nations and sought collaboration on farm research to face common challenges of climate change, etc.