Thursday, October 28, 2010

Impact of Globalization on Agro Exports and Imports - Exim Policy

Here is some information about the impact of globalization on agro exports and imports.

Agricultural Exports

Agricultural exports increased from $5.9 billion in 2001-02 to $6.7 billion in 2002-03. However, as a percentage of total merchandise exports, the share of agri-exports declined from 13.5 per cent in 2001-02 to 12.8 per cent in 2002-03. Marine products, contributing around 20 per cent of the total agri-exports, are amongst the dominant items of agri-exports in the country.

The Exim Policy of 2002-07 emphasized the importance of agricultural exports and announced the following policy measures to boost agri-exports in this era of globalization:
  • Free exportability of all agricultural products except onion and Niger seed, export of which are canalized through approved agencies.
  • Removal of procedural restrictions like requirement for registration, packaging and so on.
  • Setting-up of Agri-export zones to enhance international market access and improve infrastructure facilities, and ensure better flow of credit.
  • Assistance for reducing the marketing costs such as transportation, handling and processing of export of selected agricultural commodities.
  • Financial assistance for improved packaging, strengthening of quality control mechanism and modernization of processing units.
  • Arranging promotion campaigns such as buyer-seller meets and participation in important international fairs and exhibitions.

Agricultural Imports

The imports of agricultural products increased to $2.8 billion in 2002-03 from $2.3 billion in 2001-02. The share of agri-imports in total merchandise imports increased from 4.5 per cent to 4.6 per cent over the same period. Edible oil, which accounts for almost two-thirds of the total agri-imports, is the single largest item of agri-imports into the country. Seeds, cuttings and bulbs manufactured by multinational companies are also imported in significant amounts.

No comments:

Post a Comment

We'd love to hear from you. Please post a comment below to let us know what you think!