News from the domestic sector

The Cabinet, chaired by Prime Minister Narendra Modi, has approved the Agriculture Export Policy 2018, aimed to double the income of farmers by 2022. Exports of agricultural products would play a pivotal role in achieving this goal and in order to provide an impetus to them, the Agriculture Export Policy will aim to double agricultural exports and integrate Indian farmers and agricultural products with global value chains. The Cabinet has also approved the proposal for establishment of a monitoring framework at the Centre, with commerce as the nodal department and representation from various ministries, departments, agencies, and concerned state governments, to oversee the implementation of the new policy. Objectives of the new policy would include: s 4O DOUBLE AGRICULTURAL

exports from present $30 billion to $60 billion by 2022 and reach $100 billion in the next few years, with a stable trade policy regime. 4O DIVERSIFY THE EXPORT basket, destinations, and boost high value and value-added agricultural exports including focus on perishables. 4O PROMOTE NOVEL indigenous, organic, ethnic, traditional, and non-traditional Agri product exports. 4O PROVIDE AN INSTITUTIONAL mechanism for pursuing market access, tackling barriers, and dealing with sanitary and phyto-sanitary issues. 4O STRIVE TO DOUBLE )NDIA S share in world Agri exports by integrating with global value chain at the earliest. 4O ENABLE FARMERS TO get benefit of export opportunities in the overseas market.