50 Agricultural Products Matrix Created By Centre To Boost Exports In FY23

The Agricultural and Processed Food Products Export Development Authority (APEDA), which is part of the Ministry of Commerce and Industry, says it has developed a product matrix for 50 agricultural products that has a lot of potential for extending our export portfolios. The move was made in order to enhance exports even more following a record growth in agricultural shipments to $50.1 billion in the fiscal year 2021-22. (FY22).

Despite logistical problems provided by the COVID-19 pandemic in the form of high freight costs, container shortages, and other factors, India's agri exports exceeded $50 billion in 2021-22. According to the Ministry of Commerce and Industry, APEDA exported $25.6 billion in agricultural and processed food goods, accounting for 51% of India's overall agriculture exports of $50 billion.

Furthermore, the APEDA has exceeded its own export target of $23.7 billion for the fiscal year 2021-22, with exports totalling $25.6 billion. Agricultural exports increased by 19.92% to $50.21 billion in 2021-22, according to preliminary estimates issued by the DGCI&S.

The rate of growth is higher than the 17.66% growth rate of $41.87 billion attained in 2020-21, and it was done despite extraordinary logistical obstacles such as high freight prices, container shortages, and so on. The export of APEDA-registered items.

It shows the export of APEDA goods during the current year, 2021-22, compared to the prior year, 2020-21. In 2021-22, the cereal industry will account for more than 52% of APEDA exports. In 2021-22, livestock products and other processed foods would account for 17 and 15% of APEDA exports, respectively, according to the ministry statement.

When compared to overall agricultural exports, APEDA's exports increased by 16 percent from USD 22.03 billion in 2020-21 to USD 25.6 billion in 2021-22. In 2021-22, APEDA products saw the highest growth rate (more than 30%).

The increase in agricultural and processed food exports is largely due to various initiatives taken by the Centre through APEDA, such as organising B2B exhibitions in various countries, exploring new potential markets through product-specific and general marketing campaigns, and involving Indian embassies in these campaigns. In partnership with state governments, the government developed more than 300 outreach programmes aimed at increasing agricultural exports.