India's Agri Exports Poised for a Surge After Rice Curbs Lifted

India's agricultural exports are projected to surpass USD 50 billion in 2024-25 due to increased demand and the removal of rice export restrictions, an official announced. The government aims to double agri exports to USD 100 billion by 2030, with rice and other commodities driving growth.

India is on track to see its agricultural exports exceed USD 50 billion in the fiscal year 2024-25, according to a government official. This positive outlook follows the lifting of export restrictions on non-basmati rice, prompting a health boost in demand.

The prior export constraints on rice, wheat, and sugar impacted agri exports by an estimated USD 6-7 billion. With the current curbs removed, rice exports are expected to rise from 14-15 million tonnes last year to 17-18 million tonnes this year.

The government's ambition extends further, aiming to boost agri exports to USD 100 billion by 2030, underscoring a focus on commodities like fruits, vegetables, meat, and processed foods. This strategy coincides with sufficient domestic rice stocks and controlled retail prices.

(With inputs from agencies.)