24% Increase in Readymade Food Exports
In the years 2021-22, India's food exports increased by 24%. (April-October). Over the last decade, India's exports of ready-to-eat and ready-to-serve consumer food items have increased dramatically. The Federal Ministry of Commerce and Industry, which relies on exports of value-added products, has seen a 12% increase in the ready-to-eat food sector over the last decade. Exports of ready-made food goods under the Agriculture and Processed Foods Export Authority climbed from 2.1 percent to 5% within the same time period.
When comparing the April-October period of fiscal year 2021-22 to the same time previous year, exports of ready-to-eat food goods climbed by 24% to $ 394 million. Biscuits and bakery products, sweets, breakfast cereals, wafers, indian desserts, and snacks are all included in the ready-to-eat category. Exports increased by 89 percent in 2020-21, according to the Ministry of Commerce and Industry.
In the year 2021, India's export performance was good, especially from the start of the fiscal year 2021-22 in April. This is true for both products (goods) and services (services) (such as software). After reaching $300.8 billion in the first three quarters of fiscal year 2021-22, merchandise exports are on track to surpass $420 billion (April to December). In the same time period, service exports totaled $176.6 billion.