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Indian dairy exports top $500 million trace, at eight-year high

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Indian dairy exports top $500 million trace, at eight-year high

Indian dairy products exports have reached an eight-year high, crossing $500 million.

There has been a massive increase in Indian dairy exports in FY 2022 as compared to the same period a year ago. It has registered a growth of 93% in terms of value and 63% in terms of quantity.

Reasons for the increase in exports:

  • There has been an increase in the demand for both commodity and value added dairy products.
  • Global prices have registered an increase.
  • Feeding costs are rising in dairy-rich countries, while fertilizer shortages are being observed.
  • Due to this the demand for Indian dairy products has increased.

In addition to the above, the following initiatives have also helped strengthen the Indian dairy sector:

  • Dairy Processing and Infrastructure Development Fund: Under this, concessional loans at the rate of 6.5% are provided to milk cooperatives facing capital crunch.
  • Animal Husbandry Infrastructure Development Fund: It helps in increasing meat processing capacity, and product diversification.
  • National Dairy Development Programme: It helps to build and strengthen dairy infrastructure for procurement, processing and marketing of milk and milk products.
  • Kisan Credit Card (KCC): Through this, adequate and timely credit assistance is provided to the livestock farmers from the banking system.
  • Production Linked Incentive Scheme for Food Processing Industry: This has been announced to encourage the manufacture of Mozzarella Paneer.
  • 100% FDI has been allowed in the animal husbandry sector through the automatic route.

India ranks first in milk production. India accounts for 20% of the total global milk production. It provides employment to 8 crore people.

Source – The Hindu

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