Despite the pandemic situation, India has been able to achieve new milestones in agricultural exports. Its cereals, rice, millets, and coarse grains remained in high demand. The world’s major economies were served by exports.
Top export partners
- The USA
- Saudi Arab
It is remarkable that after remaining stagnant for almost 3 years, the country’s exports were on the higher side. If we see the data related to the previous exports, the numbers were just passable. In 2019-20, there has been a significant decline in exports. The total agricultural exports stood at around Rs. 2,52,976 crores. Whereas in 2018-19, it was around Rs. 2,74,571 crores.
Although, the good news is that this time things are on track. Even the latest data is indicating substantial growth in the future of exports. The first two months of the current fiscal have seen around a 43 % rise in exports.
Experts believe that an extra focus on the agriculture export policies could be the reason behind this achievement. The government’s goal is to double the farmers’ income by 2022. This idea somehow led to small and regular changes in the policy which resulted in a fruitful manner.
Key highlights of the past 2 years:
- The export of agricultural commodities during March – June 2020 was around Rs. 25,552.7 crores which were Rs. 20,734.8 crores during the same period in 2019.
- India’s grapes export stood at near about Rs. 368 crores during April – December 2020.
- In FY2021 (till Dec 2020), India’s basmati rice exports stood at around Rs. 27,380 crores. On the other hand, the export of non-basmati rice was Rs. 25,974 crores.
- India ranked 2nd in vegetable export with 188 MMT in FY20.
- India’s processed foods along with agricultural and horticultural products are exported to more than 100 countries in the world.
India is among the top 10 exporters:
According to the World Trade Statistical Review 2020, India is among the top 10 exporters worldwide. In the last two decades, India’s share in agricultural exports grew from 1.1% to 2.2%.
In terms of exports, we have achieved a new milestone. Now it’s time that we achieve something big on the domestic front as well. Steps to enhance the mandi system in India could be a good start. Since mandis play a crucial role in the country’s supply chain management, we must think about the mandis and its stakeholders.
Along with farmers and traders, the commission agents (aadathiyas) also play a major role in mandis. They are a strong channel between the farmers and the traders. They not only channelize the deal but also provide storage facilities to farmers whenever it is required. Even at times, they go out of their way and provide credit facilities to the farmers in their bad times.
It is important to mention that the aadathiyas have to spend hours on their accounting-related works. It obstructs them to dedicate their valuable time to other productive aspects of their business. ChargeERP solves this major problem by providing the right accounting solution.
This cloud-based online accounting software helps aadathiyas efficiently manage their day-to-day tasks. ChargeERP makes accounting easy for them. It is packed with several unique features which make accounting super smooth. Along with it, it provides major benefits such as –
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The significant rise in India’s export is a signal that as an agrarian country, it has immense potential to surpass all the challenges. We also have to acknowledge our states who dedicatedly worked in the direction of doubling farm income in the country.