<p class="title">The Centre is formulating an agri-export policy, which will be put in the public domain soon to seek stakeholders' views, Union Commerce Minister Suresh Prabhu said here on Thursday.</p>.<p class="bodytext">The government would provide an enabling environment to the industry to increase the country's exports, the minister said, while speaking at the inauguration of 'Indus Food' - an international food and beverage trade show at Greater Noida. It was organised by Trade Promotion Council of India (TPCI), along with the ministry.</p>.<p class="bodytext">The minister also said that the Commerce Ministry is working on a strategy to diversify India's export basket in a bid to boost shipments.</p>.<p class="bodytext">"The government has established 60 fully-equipped Agri-Export Zones (AEZs), in addition to 42 mega food parks and 128 cold chains, to boost agricultural and food processing exports. In other words, there is a great potential to conduct business in India as the Centre of Southeast Asia as a trading hub in F&B sector," Prabhu noted.</p>.<p class="bodytext">On the government's efforts to increase farmers' income, Prabhu said, "Agri-product export strategy will change the export scenario in the country. Not only will it double the farmers' income, but also give them a choice of so many buyers to sell their produce. I'm sure, it will benefit all farmers, whether big or small. Indus Food is a very good step in that direction."</p>.<p class="bodytext">In terms of the market size, the Indian food market was worth $193 billion in 2016, and is expected to cross $540 billion by 2020. The sector has been growing at the rate of 12% annually, which is almost double the growth rate of GDP.</p>.<p class="bodytext">India's food processing industry is expected to reach $482 billion by 2020. Entities in infrastructure development for food processing unit are given a tax deduction of 100% for the first five years and 30% for the next five years for the calculation of taxable income, said TPCI in a statement.</p>.<p class="bodytext">The show is witnessing participation from over 400 exhibitors, including representations from 12 states. Global buyers from 43 nations are attending the event.</p>
<p class="title">The Centre is formulating an agri-export policy, which will be put in the public domain soon to seek stakeholders' views, Union Commerce Minister Suresh Prabhu said here on Thursday.</p>.<p class="bodytext">The government would provide an enabling environment to the industry to increase the country's exports, the minister said, while speaking at the inauguration of 'Indus Food' - an international food and beverage trade show at Greater Noida. It was organised by Trade Promotion Council of India (TPCI), along with the ministry.</p>.<p class="bodytext">The minister also said that the Commerce Ministry is working on a strategy to diversify India's export basket in a bid to boost shipments.</p>.<p class="bodytext">"The government has established 60 fully-equipped Agri-Export Zones (AEZs), in addition to 42 mega food parks and 128 cold chains, to boost agricultural and food processing exports. In other words, there is a great potential to conduct business in India as the Centre of Southeast Asia as a trading hub in F&B sector," Prabhu noted.</p>.<p class="bodytext">On the government's efforts to increase farmers' income, Prabhu said, "Agri-product export strategy will change the export scenario in the country. Not only will it double the farmers' income, but also give them a choice of so many buyers to sell their produce. I'm sure, it will benefit all farmers, whether big or small. Indus Food is a very good step in that direction."</p>.<p class="bodytext">In terms of the market size, the Indian food market was worth $193 billion in 2016, and is expected to cross $540 billion by 2020. The sector has been growing at the rate of 12% annually, which is almost double the growth rate of GDP.</p>.<p class="bodytext">India's food processing industry is expected to reach $482 billion by 2020. Entities in infrastructure development for food processing unit are given a tax deduction of 100% for the first five years and 30% for the next five years for the calculation of taxable income, said TPCI in a statement.</p>.<p class="bodytext">The show is witnessing participation from over 400 exhibitors, including representations from 12 states. Global buyers from 43 nations are attending the event.</p>
