Govt is drafting an agriculture export policy: Suresh Prabhu

Govt is drafting an agriculture export policy: Suresh Prabhu

Prabhu said the private sector will continue to be a major contributor in the country's growth.

The Dollar Business Bureau

Commerce and Industry Minister Suresh Prabhu said on Sunday that the Central government is drafting an agriculture export policy that would also help in doubling the farmers’ income.

“The Centre is of the view that the woes of the farmers in the country can only be eased through exports,” Prabhu said while speaking at an industry interaction organised by the Confederation of Indian Industry (CII) in Pune.

The Minister further said that the Government is also taking several measures, such as researching new products and special studies, in order to enhance export potential of the country.

“India is at a great advantage, because we have 35 agro-climatic zones. We produce everything that is possible to be produced. The Prime Minister's vision of doubling farmers' income by 2022 will be possible only when we export our agriculture products,” he said.

Prabhu strongly supported the export policy and said that it was difficult to consume all the agricultural produce within the country due to the perishable nature of agri products.

“So, export is necessary and the new policy will help,” he said.

On the role of private sector, Prabhu said that the private sector will continue to be a major contributor in the country's growth.

However, he said that there is a need to increase the share of manufacturing in the country’s GDP, which is currently below 20%. The share of manufacturing should be ideally 25%.

“For this to happen, a two-prong approach is needed - protecting today's manufacturing sector as well as coming up with manufacturing innovations. Even the service industry should generate new ideas,” he added.

Prabhu further said that there is a need to explore new markets and to reach out to small countries having low investment capacity.

“The ministry is intent on creating a 'virtual ecosystem' to promote start-ups. It is looking at new supply chain. Even new industry corridors are on the cards,” he said.

The Dollar Business Bureau - Nov 13, 2017 12:00 IST