New Delhi, Apr 24 (KNN) The central government is formulating a strategy to ramp up exports of 20 high potential agricultural products like basmati rice, alcoholic beverages, honey, mango and banana.

An action plan is expected to be finalised within the next three months. The Department of Commerce and the Agricultural and Processed Food Products Export Development Authority (APEDA) have initiated discussions with stakeholders, including state governments, to develop the plan.

"Currently, India's share in global exports of these commodities is low," said Rajesh Agarwal, Additional Secretary at the Department of Commerce.

Firming up such a plan is crucial as India's overall agricultural exports contracted over the past year due to export curbs on essential items like rice, wheat, sugar and onions.

Agricultural exports have also been impacted by external factors like the Russia-Ukraine war and Red Sea crisis, though the Israel-Iran conflict has not had a major effect yet.

In 2022, worldwide imports of the 20 targeted commodities were valued at USD 405.24 billion, with India's share at just USD 9.03 billion.

Key prospective markets include the US, Malaysia, Canada, Russia, Germany, France, South Korea, China, Indonesia, Japan, Italy, Belgium and the UK.

(KNN Bureau)