New Delhi, Mar 30 (PTI) The Union Cabinet is expected to allow unrestricted exports of all certified organic agricultural products, a move which would help in boosting shipments.
The cabinet committee on economic affairs is likely to take up the proposal tomorrow to remove all quantitative ceilings on exports of organic agricultural and processed products, sources said.
However, these products should be certified by the Agricultural and Processed Food Products Export Development Authority (APEDA).
Currently, there is a quantitative ceiling on exports of 10,000 tonnes per annum to 50,000 tonnes per annum.
The Indian companies that are engaged in this sector include Kohinoor Foods, LT Foods and KRBL Ltd.
According to estimates, the global organic market has touched USD 80 billion in 2014 and it is expected to reach USD 100 billion by 2020.
Trade experts stated that huge export potential exist in countries including the US, Europe and Canada.
India’s export of organic goods have increased from USD 12.4 million in 2002-03 to USD 298 million in 2015-16.
“There is a need to increase India’s share in this segment,” they added.
India mainly exports organic wheat, non-basmati rice and sugar.
This is published unedited from the PTI feed.