The Agricultural and Processed Food Products Export Development Authority (APEDA) propelled India’s agricultural exports from USD 0.6 billion in 1987-88 to an impressive USD 26.7 billion in the fiscal year 2022-23. This growth is marked by a diversified export basket spanning over 200 countries, achieving a Compound Annual Growth Rate (CAGR) of 12%.
For the fiscal period 2022-23, India’s agricultural exports reached USD 53.1 billion, with APEDA contributing 51%. In the period from April to December 2023, 18 out of 23 Principal Commodities (PCs) in APEDA’s export basket displayed positive growth. Thirteen out of 15 large PCs, each with exports exceeding USD 100 million in the previous year, exhibited positive growth, averaging a growth rate of 12%. The standout performer was fresh fruits, witnessing an impressive growth of 29%. Additionally, processed vegetables, miscellaneous processed items, Basmati Rice, and fresh vegetables also experienced significant growth compared to the same period in the previous year. India expanded its fresh fruits export footprint, reaching 111 countries, compared to 102 destinations the previous year.
On its 38th Foundation Day on February 13, 2024, APEDA celebrated its journey, marked by milestones and unprecedented growth since its establishment in 1986. Initially created to promote the export of agricultural products, APEDA has evolved into a key player in driving India’s agricultural exports to new heights.
In the period from April to November 2023, several key commodities demonstrated substantial growth compared to the previous year, such as bananas (63%), lentils (dried and shelled) (110%), fresh eggs (160%), and Kesar and Dasheri Mango (120% and 140%, respectively).
During the period from April to December 2023, the export value of Basmati rice surged by 19%, reaching USD 3.97 billion compared to USD 3.33 billion in the previous year. Simultaneously, the quantity of exports witnessed notable growth of 11%, increasing from 31.98 lakh metric tons to 35.43 lakh metric tons within the same timeframe. Basmati rice found strong demand in top markets, with Iran, Iraq, Saudi Arabia, the USA, and the UAE emerging as the top five destinations for these exports. This robust performance underscores the enduring popularity and global demand for Basmati rice, solidifying its position as a major agricultural product in India’s export portfolio.