NEW DELHI: India could target a 5% share in world trade by 2020, commerce minister Kamal Nath has said. This would translate into a four-fold increase in the country’s share in the next 12 years, which stands at about 1.2% now. India’s total foreign trade was at $391 billion in 2007-08.
Speaking at the annual export award function organised by the Agricultural and Processed Food Products Export Development Authority (Apeda) on Friday, Mr Nath pointed out that the world trade is itself increasing and this would translate into an eight-fold increase in absolute terms. “Ambitious the target may be, but achieving it is not impossible. The agro exports would also have to keep pace with this rate of growth. The task is difficult, but the gains are invaluable,” he said.
Commenting on infrastructure required for the agri and processed food sector, the minister said organised retail was expected to throw up new opportunities for service providers to go in for investment in the cold chain which would be important for preserving the quality of perishable food products and strengthening backward linkages with growers.
He said Apeda has been playing a significant role in building up infrastructure which has helped in finding new markets for Indian agro products and also assisting in providing cold chain infrastructure at airports, packhouses and other infrastructure, critical for growth of exports of perishable agri produce from the country.
Apeda’s products like floriculture, grapes, honey and bovine meat have shown excellent growth, Mr Nath said. The export of Apeda’s scheduled products is expected to grow from Rs 21,150 crore to about Rs 24,400 crore in 2007-08.
Speaking at the annual export award function organised by the Agricultural and Processed Food Products Export Development Authority (Apeda) on Friday, Mr Nath pointed out that the world trade is itself increasing and this would translate into an eight-fold increase in absolute terms. “Ambitious the target may be, but achieving it is not impossible. The agro exports would also have to keep pace with this rate of growth. The task is difficult, but the gains are invaluable,” he said.
Commenting on infrastructure required for the agri and processed food sector, the minister said organised retail was expected to throw up new opportunities for service providers to go in for investment in the cold chain which would be important for preserving the quality of perishable food products and strengthening backward linkages with growers.
He said Apeda has been playing a significant role in building up infrastructure which has helped in finding new markets for Indian agro products and also assisting in providing cold chain infrastructure at airports, packhouses and other infrastructure, critical for growth of exports of perishable agri produce from the country.
Apeda’s products like floriculture, grapes, honey and bovine meat have shown excellent growth, Mr Nath said. The export of Apeda’s scheduled products is expected to grow from Rs 21,150 crore to about Rs 24,400 crore in 2007-08.
