This Article is From Jul 09, 2014

Agricultural Exports Up 5.1 Per Cent at $37.29 Billion in FY14: Economic Survey

New Delhi:

Agricultural exports, including marine, increased 5.1 per cent to $37.29 billion in 2013-14, on account of a jump in exports of rice.

Exports of agriculture and allied products in 2011-12 accounted for 9.08 per cent of India's total exports as against 6.9 per cent in 2010-11, said the Economic Survey 2013-14, tabled in Parliament by Finance Minister Arun Jaitley on Wednesday.

Since the opening up of exports of rice in 2011, there has been a surge in its share in total exports by more than three-fold from $2,575 million in 2010-11 to $7,742 million in 2013-14, the survey said.

"Exports of total dairy, poultry, meat, and marine products have doubled their share in agricultural exports between 2008-09 and 2013-14," the survey added.

It also said that stable and long-term trade policy with respect to export of agricultural products is essential for increasing productivity.

It attributed the rise in exports to some policy changes made in recent years such as permitting export of rice and wheat in 2011 and exempting processed or value added agricultural products from export restrictions since February 2013, even if their base produce is subject to an export ban.

"These will benefit farmers, incentivise the development of the agro-processing sector, and enhance farm productivity," the survey added.

It said that during the last five years ending 2012-13, the food processing sector has been growing faster than the agriculture sector at an average annual growth rate of around 8.4 per cent.

With the decline in farm employment, additional job opportunities have to be created in agro-based industries, it added.