Agri Exports Likely To Double To $100 Bn By 2030: Commerce Secy

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

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

“I am very sure that this USD 50 billion exports of India today will see a doubling of our exports by 2030 to almost USD 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 USD 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 USD 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.

Goyal also said there is a need for large-scale food processing, product branding, and export focus to provide better value to farmers, generate employment, and enhance the country’s earnings.

He added that as many as 158 food and agri products have been granted Geographical Indications (GIs) tags, and 708 food items have been identified under the One District One Product (ODOP) initiative for their promotion.

He urged the industry to focus on frozen, packaged, and ready-to-eat foods, encouraging skill development, university exchange programmes, and startups in the sector.

The industry should also prioritise quality, nutrition, organic ingredients, and eco-friendly packaging, underscoring the significance of promoting food nutrition and sustainability, the minister said.