India’s agriculture exports, presently exceeding $50 billion, are anticipated to reach $100 billion by 2030, according to Commerce Secretary Sunil Barthwal. Speaking at the IndusFood Show 2024, he expressed confidence in doubling India’s exports and emphasized the country’s broader target of achieving $2 trillion in exports of goods and services by 2030.
Barthwal highlighted the potential for growth in segments like ready-to-eat foods and urged the industry to prioritize technical standards required by importing nations.
Commerce and Industry Minister Piyush Goyal, inaugurating the show, noted that despite restrictions on certain key commodities, this fiscal year’s agricultural exports are expected to surpass last year’s $53 billion.
The government’s measures, including export bans on wheat and non-basmati white rice, along with restrictions on sugar exports, are anticipated to impact exports by about $4-5 billion this fiscal year. However, Minister Goyal remains optimistic about exceeding last year’s levels.
Trade Promotion Council of India Chairman Mohit Singla reported the participation of over 1,200 exhibitors and 7,500 buyers from around 90 countries in the three-day event. More than 80 retail chains, including Choithrams, Carrefour, Lulu, and Spar, are actively participating.
This growth in agriculture exports aligns with India’s commitment to enhancing global trade and tapping into the vast potential of the agri-commodities sector.
By PTI
