Economic Survey 2013: India's global ranking for agricultural-exports improves ... - Economic Times

NEW DELHI: India has improved its position in agricultural and food exports to 10th globally, helped by policy impetus, the Economic Survey said today. "In recent years, the policy impetus by the government has provided much required stability to agri exports," said the Survey for 2012-13. However, the document, tabled in Parliament, did not state the earlier ranking. It said that as per World Trade Organization data, gl obal exports and imports of agricultural and food products in 2011 stood at USD 1.66 trillion and USD 1.82 trillion respectively. India's share in this is 2.07 per cent and 1.24 per cent respectively. In view of record domestic foodgrains production, the government had lifted the ban on export of rice and wheat in September 2011 from private trade. Later in mid-2012, the government allowed export of wheat from its own godowns. "Though these measures are in the right direction, a consistent long-term trade policy with tariff in a narrow band may be required for India to acquire international presence in commodities wherein it has comparative advantage," the Survey said. In view of sufficient stocks of foodgrains in the central pool, the government has allowed exports of 4.5 million tonne of wheat from the central pool stock of the FCI through central public-sector undertakings and placed export of wheat and rice under open general licence ( OGL). Permission to export wheat products up to 6.50 lakh tonne through customs Electronic Data Interchange ports on private account has also been extended up to 31 March 2013. Last year, the country had surpassed Thailand to become world's top rice exporter. The domestic foodgrains production stood at a record 259.32 million tonne in 2011-12. Download ET's mobile applications for iPad, iPhone, Android, BlackBerry, Nokia and Windows Phone to track news as it happens, live stock quotes, monitor portfolio, get market stats like gainers, losers and movers & much more. To check out free Economic Times apps , Click here India has improved its position in agricultural and food exports to 10th globally, helped by policy impetus, the Economic Survey said today. via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNH8E5iAJg1o9BgVJkAKck4-NkkPng&url=http://economictimes.indiatimes.com/news/economy/agriculture/economic-survey-2013-indias-global-ranking-for-agricultural-exports-improves-to-10th/articleshow/18712805.cms

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