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India's agricultural exports could reach $ 70 billion

Posted by Marina

India's agricultural exports could grow from $ 40 billion to $ 70 billion in a few years, adding up to 10 million jobs in the process, a group of high-level experts (HLEG) created by the 15th Finance Commission said in its report. from the country. HLEG said that, in order to achieve the improved targets, the estimated investment in agricultural exports can vary from US $ 8 to 10 billion in inputs, infrastructure and processing.

The group recommended a state-led export plan, which will include a business plan for a cluster in the harvest value chain to achieve export targets. "These plans will be action-oriented, with deadlines and results," said HLEG in its report sent to the 15th Finance Committee, led by NK Singh. The recommendations of the high-level group will form part of the report of the finance committee that is being prepared.

Among the components of the Export Plan, led by the State, the help of private sector agents and commodity councils will be obtained in the conduct of results and execution. “Institutional governance must be promoted across the state and center. Financing through the convergence of existing schemes, allocation from the Finance Committee and investment from the private sector ”, states the report.

The group put pressure on private sector actors to play a central role in ensuring demand orientation, viable project plans and providing funds for technology. In addition, it recommended a greater focus on 22 harvest value chains, the creation of groups of value chains, among performance-based incentives for state governments in the period 2021-22 to 2025-26, to accelerate sector reforms agricultural.

Source: Agrolink

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