India's farm exports seen topping Rs1,00,000 crore in 5 years
09 September 2009
Export of agricultural products from the country is likely to top Rs1,00,000 crore in the next five years. India's share in global agriculture exports is also expected to more than double to five per cent from the current 2 per cent.
Export of products monitored by the Agricultural and Processed Food Products Export Development Authority (APEDA), like fresh and processed food and vegetables, livestock and cereals grew to Rs39,461 crore (or $8.67 billion) in 2008-09, up 24 per cent in rupee terms and 10 per cent in dollar terms, APEDA director S Dave said at an Assocham conference today.
"Export of APEDA monitored products should exceed one lakh crore (about $22 billion), in the next five years, which should translate into a five per cent share of the global agri exports," Dave said.
To raise India's share in global agri exports from around two per cent to five per cent, Dave said, the industry must focus on increasing investments for value addition in the sector.
"Consumption patterns are fast changing in the international market. There is an emergence of specific products like functional foods, convenience foods, dietary products and organic products," Dave said.
"India has made considerable progress in ready-to-eat food and organic products but more effort is needed to add value," he added.
Both exporters and the industry must also utilise the funds allocated by the commerce ministry for market access initiatives, he said.
"It is very important to increase our exports to the developed countries," Dave added.