Exports of agricultural products from India surpassed the USD 50 billion mark for the first time during the financial year 2021-22 (FY22), owing to significant growth in sugar, rice, wheat, and other cereals exports. The Directorate General of Commercial Intelligence and Statistics (DGCI&S), Ministry of Commerce & Industry, has released provisional figures stating that agricultural exports rose to USD 50.21 billion in 2021-22, which is 19.92%.
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Previously:
The growth rate is significant since it exceeds the 17.66% growth rate of USD 41.87 billion obtained in 2020–21, and it was achieved despite unprecedented logistical obstacles such as high freight prices, container shortages, and so on.
Key Points:
- The highest ever exports have been achieved for staples like rice (USD 9.65 billion), wheat (USD 2.19 billion), Sugar (USD (4.6 billion) and other cereals (USD 1.08 billion).
- The increase in exports of these products has benefitted farmers in states like Punjab, Haryana, Uttar Pradesh, Bihar, West Bengal, Chhattisgarh, Madhya Pradesh, Telangana, Andhra Pradesh and Maharashtra.
- India has captured nearly 50% of the world’s market for rice.
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