India's agricultural exports could grow from US$$40 billion to US$$70 billion within a few years, adding 10 million jobs in the process, a high-level expert group (HLEG) set up by the 15th Finance Commission said in its report from the country. HLEG said that to achieve the enhanced targets, estimated investment in agricultural exports could range from US$ 8 to 10 billion in inputs, infrastructure and processing.
The group recommended a state-led export plan, which will include a business plan for a crop value chain cluster to achieve export targets. “These plans will be action-oriented, time-bound and outcome-oriented,” HLEG said in its report submitted to the 15th Finance Commission, headed by NK Singh. The high-level group's recommendations will form part of the finance committee's report being prepared.
Among the components of the State-led Export Plan, assistance from private sector actors and commodity councils will be obtained in driving results and execution. “Institutional governance must be promoted across the state and center. Funding through convergence of existing schemes, Finance Commission allocation and private sector investment,” the report states.
The group pressed private sector actors to play a central role in ensuring demand guidance, viable project plans and providing funding for the technology. Further, it recommended greater focus on 22 crop value chains, creation of value chain clusters, among performance-based incentives for state governments over the period 2021-22 to 2025-26, to accelerate reforms in the sector agricultural.
Source: agrolink
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