Prabhu reviews policies to transform India's agricultural exports

Union Minister Suresh Prabhu today reviewed proposed agriculture export and new industrial policies and discussed strategies to boost outward shipments with top officials here.

Union Minister Suresh Prabhu today reviewed proposed agriculture export and new industrial policies and discussed strategies to boost outward shipments with top officials here.

The Commerce and Industry Minister said the government was working on new initiatives to take India's exports to the next level.

Prime Minister Narendra Modi last week said a new agriculture export policy will be unveiled soon to boost farm income as the government is on track to achieve the target of doubling farmers' income by 2022.

The Commerce and Industry Ministry in March came out with a draft 'Agriculture Export Policy', aimed at doubling agricultural exports and integrate Indian farmers and farm products to the global value chain.

The new industrial policy will replace the old policy of 1991 which was prepared against the backdrop of the balance of payment crisis.

The proposed industrial policy aims at promoting emerging sectors and modernizing existing industries.

It will also look to reduce regulatory hurdles and encourage adoption of frontier technologies such as robotics and artificial intelligence.

The Department of Industrial Policy and Promotion (DIPP) in August last year floated a draft industrial policy with an aim to create jobs for the next two decades, promote foreign technology transfer and attract USD 100 billion FDI annually.

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