India's agri exports likely to double to $100 billion by 2030: Commerce Secretary

Date:01-10-2024

India's agriculture exports, which stood at over $50 billion at present, are expected to double by 2030 and reach $ 100 billion, Commerce Secretary Sunil Barthwal said on Monday.

He said that the country is targeting $2 trillion worth of exports of goods and services by 2030.

"I am very sure that this $50 billion exports of India today will see a doubling of our exports by 2030 to almost $ 100 billion," he said at the IndusFood Show 2024 here.

This is the largest food and beverage show in South Asia.

The secretary said that areas like the ready-to-eat food segment have huge potential to grow.

He also urged the industry to focus on the technical standard requirements of importing countries.

Inaugurating the show, Commerce and Industry Minister Piyush Goyal said that this fiscal year, the country's agri exports will be more than last year's level of $53 billion, despite restrictions imposed on shipments of certain key commodities, including rice, wheat and sugar.

Earlier, an official said that the export ban and restrictions on these commodities may hit exports of about $ 4-5 billion this fiscal.

The government has prohibited exports of wheat and non-basmati white rice and has also imposed curbs on sugar exports.

Speaking at the event, Trade Promotion Council of India Chairman Mohit Singla said that over 1,200 exhibitors and more than 7,500 buyers from across the world representing about 90 countries are participating in the three-day show.

Over 80 retail chains, such as Choithrams, Carrefour, Khimji Ramdas, Grand Hypermarket, Nesto, Mustafa, X5, Lulu, Almaya Group, and Spar, are also participating, he added.