Business & Economy

India Eyes New Markets for Agricultural Exports

© AP Photo / Ajit SolankiMango
Mango - Sputnik India, 1920, 06.03.2024
With Prime Minister Narendra Modi repeatedly highlighting his government's efforts to double farmers' income, India is going all out to open new avenues for them, especially in foreign nations.
India is aiming to increase the export of its agricultural products, including fresh fruits and vegetables, with a thrust on newer markets, the Ministry of Commerce said in a release on Wednesday.
It noted that a specialized agency named the Agricultural and Processed Food Products Export Development Authority (APEDA), which was set up by the government to promote exports of Indian agricultural products has been quite successful in this regard.

"With a focus on expanding into key markets such as Europe, Latin America, and Asia, APEDA aims to forge small partnerships with global supermarkets to showcase its products on an international arena," the statement stressed. "Moreover, the organization is working on to reducing logistical expenses by establishing sea protocols through collaborations with research institutions. These strategic initiatives reiterate APEDA's commitment to boost India's agricultural exports by enhancing competitiveness and driving sustainable growth."

According to the ministry, during the April-November period last year, agricultural exports to countries like Iraq, Saudi Arabia, and Vietnam jumped by 110, 46, and 18 percent, respectively, showcasing that there was an immense demand for India's food items globally.
Earlier this year, India also began shipments of bananas to its strategic ally Russia, allowing the Eurasian nation to keep the fruit on shelves for a longer duration due to the shorter transportation time.
Banana - Sputnik India, 1920, 13.02.2024
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