India Plans Export Boost Amid Challenges

• 24 Apr 2024

In April 2024, India aims to enhance agricultural exports by focusing on 20 key products, including mangoes and potatoes, to counteract a 9% decline due to global crises and domestic restrictions.

Key Points

• Export Downturn Due to Global Events: Agricultural exports dropped by 9% to $43.7 billion in FY24, attributed to the Red Sea crisis and the Russia-Ukraine conflict.
• Strategy to Boost Exports: Government identifies 20 products with untapped export potential, aiming to increase India's global export share from 2.5% to 4-5%.
• Targeted Products for Growth: Items include fresh fruits like grapes, guava, and pomegranate, as well as vegetables like onion, green chili, and capsicum.
• Global Import Market Potential: Global imports of these items totaled $405.24 billion in 2022, presenting a significant opportunity for Indian exporters.
• Focus on Sea Routes: APEDA collaborates with institutes to develop sea protocols for select items like ginger and mangoes, aiming to reduce logistics costs and increase exports.
• Mixed Performance in Agri-Exports: Exports of scheduled agri-products declined by 6.85%, impacted by export bans on commodities like rice and onions, while certain items like basmati rice saw positive growth.
• Basmati Rice Export Growth: Basmati rice exports increased by 22% in value terms, highlighting potential areas of success amid challenges in the agricultural export sector.