The Union Cabinet chaired by Prime Minister Narendra Modi has approved the Agriculture Export Policy, 2018. The Cabinet has also approved the proposal for establishment of Monitoring Framework at Centre with Commerce as the nodal Department with representation from various line Ministries/Departments and Agencies and representatives of concerned State Governments, to oversee the implementation of Agriculture Export Policy.
The Government has come out with a policy to double farmers' income by 2022. Exports of agricultural products would play a pivotal role in achieving this goal. In order to provide an impetus to agricultural exports, the Government has come out with a comprehensive "Agriculture Export Policy" aimed at doubling the agricultural exports and integrating Indian farmers and agricultural products with the global value chains. The Agriculture Export Policy has the vision of harnessing teh export potential of Indian agriculture, through suitable policy instruments and to make India global power in agriculture and raise farmers' income.
The policy aims to double agricultural exports from present ~US$ 30+ Billion to ~US$ 60+ Billion by 2022 and reach US$ 100 Billion in the next few years thereafter, with a stable trade policy regime. It also plans to diversify the export basket, destinations and boost high value and value added agricultural exports including focus on perishables. It aims to promote novel, indigenous, organic, ethnic, traditional and non-traditional Agri products exports.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)