Commerce and Industry Minister Piyush Goyal said on Wednesday that India's agriculture, animal husbandry and fisheries exports crossed Rs 4.5 lakh crore, but could rise nearly fivefold to Rs 20 lakh crore with stronger focus on food processing, branding and packaging.
Speaking at the Indian Chamber of Commerce's Krishi Vikram thematic session in New Delhi, Goyal said India remained rain-fed agrarian economy, making it vulnerable to climate variability. He underlined the need to make irrigation economically viable and ensure farmers benefit from modern practices like organic farming, quality seeds, AI-enabled tools, geospatial tech and drone use.
Goyal pointed out that while government subsidies have helped, they could slow down technology adoption at times, citing the example of LED bulbs. Fertiliser subsidies, which the Centre keeps high to ensure affordability, are rising steadily. However, he reiterated that despite shortages, the government has ensured uninterrupted fertiliser supply, eliminating the need for protests.
The minister said the minimum support prices were going up steadily and the Rs 1-lakh-crore Agri Infra Fund was helping build capacity across the sector.
He added that free trade agreements were being signed with major partners like the UK, Australia, and EFTA to open new markets for Indian farmers.
With better value addition and export of processed rather than raw products, Goyal believes India can double or triple its farm exports, despite global trade headwinds due to geopolitics.
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