The Union Cabinet on Thursday approved an agriculture export policy to push towards the government’s commitment to double farmers’ income by 2022, the government said. The policy aims to double agricultural exports to more than $60 billion (Rs 4.24 lakh crore at current exchange rate) by 2022 and reach $100 billion afterwards with a “stable trade policy regime”.
Exports of agricultural products will play a pivotal role in achieving the goal of doubling farm incomes by 2022, the government said. The policy will aim to harness the export potential of Indian agriculture and to make the country a “global power” in agriculture.
The cabinet approved a proposal to set up a monitoring framework at the central level to oversee how the policy is implemented. The policy will aim to diversity India’s export basket and lift India’s share in global farm exports.
Union minister Suresh Prabhu said that the move will increase exports of agricultural commodities such as tea, coffee and rice and increase the country’s share in global agricultural trade, PTI reported. The policy will also focus on all aspects of agricultural exports, including infrastructure modernisation, standardisation of products, streamlining regulations, curtailing knee-jerk decisions, and focusing on research and development activities.
Prabhu said that the policy will attempt to remove all kinds of export restrictions on organic products.