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By APD writer Rishika Chauhan
NEW DELHI, December 7(APD) -- A new agriculture policy aimed to encourage farm exports was cleared by the union cabinet on Thursday.
The policy has been drafted with the intention of doubling farm incomes by the year 2022.
According to Commerce Minister, Suresh Prabhu, the policy will enable India’s agriculture exports to increase to $60 billion by 2022 from $37 billion. The final goal is to reach $100 billion.
The step is being hailed as progressive and in alignment with the prime minister’s vision for the country as it is a departure from the earlier five-year national foreign trade policy as it focus remains agriculture exports.
Diversifying exports and reaching new destinations for them are others goals of the policy. Another significant aspect of the policy is encouraging organic and traditional products, while minimizing trade barriers and modernising infrastructure.
Forming clusters to focus on specific produce and cooperating at the central and provincial levels are expected output of the policy.
According to experts, one of the reasons for low income of farmers is decrease in agricultural exports. Between 2004-05 and 2013-14 India’s agricultural exports had increased five-times from $8.7 billion to $42.6 billion but dropped to $33 billion in 2016-17.
The new policy is expected to check this plunge and show results in the coming years.
(ASIA PACIFIC DAILY)
