Doubling Farmer Income: Cabinet Clears First Export Policy, Aims To Double Overseas Sales To $60 Billion By 2022

The Union Cabinet has decided to aim for double agricultural exports to $60 billion by 2022 under its first export policy for farm sector, Press Trust India has reported. Currently agricultural exports are estimated to be around $30 billion.

Under the policy, all restrictions on the export of organic and processed products have been removed. But the export policy for primary agricultural products will be reviewed periodically depending on the supply-demand scenario. The Union Commerce Minister Suresh Prabhu has also said that the policy will help in doubling farmer’s income by 2022.

The policy will look into modernising infrastructure, curtailing knee-jerk decisions, standardisation of products, streamlining regulations, and focusing on research and development activities. The policy also aims at diversifying export basket. The estimated financial cost of implementing the policy will be Rs 1,400 crore.

The minister added that states have agreed to do away with ‘Mandi Tax’ and implement Agriculture Produce Marketing Committee (APMC) reforms. The government will also focus on promoting value-added shipments, creation of agri-clusters, attracting private investment and infrastructure development as part of the new policy.

Also Read : ‘Business Of Agriculture’: How The States Must Build On The Centre’s Reforms