In line with PM’s vision to double farmers’ income: Minister
The Union Cabinet on Thursday approved the Agriculture Export Policy, aimed at increasing India’s exports to $60 billion by 2022 from the current $37 billion, Commerce Minister Suresh Prabhu announced.
“We have managed to increase agriculture exports to $37 billion from $30 billion in just one year,” Mr. Prabhu said at a press conference. “With this policy, we aim to increase that to $60 billion by 2022. This is in line with the Prime Minister’s vision of doubling farmers’ income.”
The objectives of the policy are, apart from doubling farmers’ income, to diversify the export basket and destinations, and to boost high-value and value-added exports, with a focus on perishables.
The policy also aims to promote the export of “novel, indigenous, organic, ethnic, traditional and non-traditional” products, according to a press release. The objective also is to provide an institutional mechanism for market access, tackling barriers, and dealing with sanitary and phytosanitary issues.
In order to do this, the Centre will work with the State governments to create clusters that can focus on particular crops.
Separately, the Cabinet also gave its ‘in-principle’ approval for the strategic sale of the government’s existing 52.63% total paid up equity shareholding in Rural Electrification Corporation to the Power Finance Corporation, along with the transfer of management control.
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