India’s Agriculture Exports Cross USD 50 Billion Mark for First Time

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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