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The exports of basmati rice have increased from $4.2 billion in April-February 2022-23 to $5.2 billion in April-February 2023-24 in value terms, registering a growth of 22 per cent.
The country’s agriculture exports declined by 8.8 per cent to $43.7 billion during April-February period of 2023-24 fiscal due to factors like the Red Sea crisis, Russia-Ukraine war, and domestic restrictions imposed on critical items like rice, wheat, sugar and onion.
According to the data of the commerce ministry, the exports stood at $47.9 billion in April-February 2022-23.
India’s agricultural GDP also witnessed a significant deceleration, growing by only 0.7 per cent in 2023-24, down from 4.7 per cent in 2022-23.
The data also showed that exports of the 719 scheduled agri products in the APEDA basket declined by 6.85 per cent to 22.4 billion during the 11-month period of the last fiscal as against $24 billion in April-February 2022-23.
The export ban and restrictions on commodities like rice, wheat, sugar and onion have hit agri exports of about $5-6 billion in the last fiscal, an official said.
However, among 24 principal commodities (in APEDA basket), 17 have recorded positive growth during the period and that included fresh fruit, buffalo meat, processed vegetables, basmati rice and banana.
The exports of basmati rice have increased from $4.2 billion in April-February 2022-23 to $5.2 billion in April-February 2023-24 in value terms, registering a growth of 22 per cent.
The official also said that there has not been any visible impact of Israel-Iran war on exports as it is an evolving situation, “but we are monitoring the situation. There are no major push backs as of now”.
The official said that growth is noted last fiscal in export of Indian alcoholic beverages amid good growth in shipments of high-end Indian brands.
The world has imported alcoholic beverages worth $113.66 billion in 2022. India’s exports stood at $180 million in 2022.
India currently ranks 40th in global exports of alcoholic beverages.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Apr 23 2024 | 5:48 PM IST
