Govt. to clear policy to boost exports of Agri commodities soon
The Government may soon pass the agri export policy that aims to double agri export to $60 billion by 2022. The promise of no further restrictions on processed agricultural export, a stable export policy regime for farm products, and streamlining of the current Agricultural Produce Market Committee (APMC) laws are part of the changes in the final policy. It aims to push India into the list of the top 10 countries in this regard while doubling India’s share of global export in the category.
“We had forwarded the policy to the Prime Minister’s Office (PMO) some time back, and after Ministerial consultations, it is now expected to be taken up by the Cabinet soon,” a Senior Commerce Department official said. The PMO believes the policy to have wide political ramifications as well, months before the nation goes to polls, senior sources averred.
Despite India occupying a leading position in global trade of these products, the total agri export basket still accounts for only a little over 2 per cent of world agri trade, estimated at a massive $1.37 trillion.
The policy has, in a significant move, suggested zero restrictions in the form of a minimum export price (MEP), export duty or bans on processed agri products or organic products. However, the door has been kept open for restrictions on commodities considered essential for food security. “Given the domestic price and production volatility of certain commodities, there has been a tendency to utilise trade policy as an instrument to attain the short-term goals of taming inflation, providing price support to farmers, and protecting the domestic industry,” the draft policy says.
Source :- Dailyshippingtimes.com