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Indian agriculture exports pick up pace

India's agriculture sector is picking up pace and was worth $151bn in 2012, according to data compiled by the India Brand Equity Foundation (IBEF).

The Indian agriculture sector is picking up pace and was worth $151 billion in 2012, according to data compiled by the India Brand Equity Foundation (IBEF).

The country is also exporting more each year; in 2012 it exported $39 billion of agricultural products, accounting for 2.07 percent of global agricultural trade that year.

That was an increase of 59.8 percent on 2011 levels and makes India one of the top 10 agricultural exporters globally. India exported rice worth $5 billion in 2012, some 12.8 percent of the world’s exports in the product.

Size of agriculture and allied activities

India’s government is dedicated to improving the sector further and has allotted $11.8 billion to the Department of Agriculture for various schemes, including $2.1 billion to the Rashtriya Krishi Vikas Yojana (RKVY), a scheme aimed at incentivising state spending on agriculture.

Read IBEF’s agriculture report here.