Indian Rice Industry Seeks Government Support Amid Export Slump

The Indian rice industry is seeking government support in the upcoming Union Budget to tackle surplus stock, falling prices, and weak exports. Industry leaders emphasize the need for better rural infrastructure and increased incentives to enhance international competitiveness and improve farmer incomes.

The Indian rice industry has called for government intervention in the upcoming Union Budget to cope with surplus stock, falling prices, and sluggish exports.

Industry executives like Dev Garg from the Indian Rice Exporters Federation point to a bumper surplus of 500 lakh tonnes that's driven prices down by 10-15%. Despite lifting some export restrictions, shipments remain weak, totaling Rs 76,000 crore versus Rs 1.14 lakh crore last year.

Suraj Agarwal, Director at Ricevilla, underscored the need for modern rural infrastructure and increased funding for agri-tech and digital literacy programs to elevate productivity and global competitiveness.

(With inputs from agencies.)