India's agri-food exports grew 6% from 2014-15 to 2020-21

The total agri-food exports grew 6 per cent from $36.18 billion in 2014-15 to $ 38.32 billion in 2020-21 at a compounded annual growth rate of 0.96 per cent, the Ministry of Food Processing Industries said in a statement.

The gross value added in the food processing sector has grown from Rs 1.34 lakh crore in 2014-15 to Rs 2.24 lakh crore in 2019-20 at a compounded annual growth rate of 10.8 per cent.

The export of products under the Agricultural and Processed Food Products Export Development Authority (APEDA) ambit grew from $11.671 billion in April-November 2020-21 to $13.261 billion in April-November 2021-22, according to the data furnished by the Ministry of Commerce and Industry earlier this month.

Also Read: India records up to 15% rise in agricultural and processed food exports in Apr-Oct

The export target under the APEDA basket products has been fixed at $23.713 billion for 2021-22.

The fruits and vegetables exports grew by 12 per cent to $1.720 billion during April-November 2021-22 compared to $1.536 billion during April-November 2020-21. India's export of agricultural and allied products in 2020-21 grew by 17.34 per cent to $41.25 billion (Rs. 5,800 crore).

The largest markets for the country's agricultural products are the US, China, Bangladesh, UAE, Vietnam, Saudi Arabia, Indonesia, Nepal, Iran and Malaysia.

Also Read: India records up to 15% rise in agricultural and processed food exports in Apr-Oct

Exports of only agricultural products (excluding marine and plantation products) increased by 28.36 per cent to $29.81 billion in 2020-21 as compared to $23.23 billion in 2019-20.

Meanwhile, the country's exports of agricultural and processed food products increased by over 13 per cent during the first eight months of FY22 on a YoY (year-on-year) basis.