Amid the crisis over the global market due to the Coronavirus outbreak, the centre has identified 21 agricultural products wherein India can grab part of China’s market share. As per reports, these include honey, potatoes, grapes, soya beans, and groundnuts, in which Indian exports could benefit from trade restrictions against Chinese goods across the global market.
As per reports, the total value of China’s global exports of these products amounted to $5488.6 million in 2018. India exported $4,445.9 million worth of these commodities in the same period and could now have a chance to grab part of China’s market share.
As per the analysis of the impact of the virus outbreak on India’s agricultural trade prepared by the Ministry of Agriculture and Farmers Welfare, “There may be opportunities for Indian exporters of agri-items, in case some countries impose restrictions on Chinese goods in response to the outbreak of COVID-19. Opportunities may arise in case of other countries imposing import restriction on these tariff lines”.
The report was submitted to the Finance Ministry last week to analyze the disruptions in global supply chains due to the COVID-19 crisis and chart a government response.
To read complete report, please visit: https://www.indoasiancommodities.com/2020/03/13/corona-outbreak-may-boost-indias-agri-exports-says-agriculture-ministry-analysis/