APEDA catapults agricultural exports from modest USD 0.6 billion exports in FY1987-88 to USD 26.7 billion in FY 2022-23

New Delhi: Agricultural and Processed Food Products Export Development Authority (APEDA) has propelled India’s agricultural exports from 0.6 billion US dollars in fiscal year 1987-88 to 26.7 billion US dollars in the fiscal year 2022-23. With APEDA’s interventions, India’s agricultural export growth has surged, showcasing the Compound Annual Growth Rate (CAGR) of 12 percent.

In a release, Commerce and Industry Ministry said that during April-December 2023, APEDA’s strategic initiatives bore fruit, with 18 out of 23 Principal Commodities experiencing positive growth. It said that fresh fruit exports registered an exceptional 29 percent growth, while processed vegetables, Basmati Rice, and fresh vegetables also witnessed significant upticks. Basmati rice witnessed a significant increase in export value upto 19 percent and an 11 percent growth in quantity, solidifying its position as a major export commodity for India. Top markets for Basmati rice includes Iran, Iraq, Saudi Arabia, the USA, and the UAE, reaffirming its enduring global demand.

Reflecting APEDA’s leadership in diversifying India’s agricultural export portfolio, commodities like bananas, lentils, fresh eggs, Kesar, and Dasheri Mango recorded substantial growth.