News Brief
Export Of Agriculture, Allied Products Rose By Over 17 Per Cent To $41.25 Billion In FY21: Commerce Ministry
Rise in engineering export goods. (GettyImages)
The Ministry of Commerce and Industry on Thursday (10 June) said that India registered growth in the export of agriculture products during financial year 2020-21.
During a media interaction, Commerce Secretary Dr Anup Wadhawan said that agriculture exports have performed well during 2020-21.
He further informed that after remaining stagnant for the past three years ($38.43 billion in 2017-18, $38.74 billion in 2018-19 and $35.16 billion 2019-20), the export of agriculture and allied products (including marine and plantation products) during 2020-21 jumped to $41.25 billion,indicating an increase of 17.34 per cent.
Meanwhile, in Rupee terms, the increase is 22.62 per cent with exports during 2020-21 amounting to Rs. 3.05 lakh crore as compared to Rs. 2.49 lakh crore during 2019-20, it added.
India’s agricultural and allied imports during 2019-20 were $20.64 billion, and the corresponding figures for 2020-21 are $20.67 billion. Despite COVID-19, balance of trade in agriculture has improved by 42.16 per cent from $14.51 billion to $20.58 billion, according to a Commerce Ministry statement.
For agriculture products (excluding marine and plantation products), the growth is 28.36 per cent with exports of $29.81 billion in 2020-21 as compared to $23.23 billion in 2019-20.
The organic exports during 2020-21 were $1040 million as against $689 million in 2019-20, registering a growth of 50.94 per cent. Organic exports include oil cake or meals, oil seeds, cereals and millets, spices and condiments, tea, medicinal plant products, dry fruits, sugar, pulses, coffee etc.
Largest markets for India’s agriculture products are USA, China, Bangladesh, UAE, Vietnam, Saudi Arabia, Indonesia, Nepal, Iran and Malaysia. Exports to most of these destinations have registered growth, with highest growth being recorded for Indonesia (102.42 per cent), Bangladesh (95.93 per cent) and Nepal (50.49 per cent), the ministry said.
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