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Jan 14, 2019

UAE, Saudi Arabia to invest in Indian agriculture sector: Suresh Prabhu

Union Minister for Commerce and Industry and Civil Aviation Suresh Prabhu today said, the government is coming up with an Agriculture Export Policy in which the districts possessing potential for particular industries and items will be identified and developed as clusters for the development of the sector. 

Speaking at the valedictory session of the two-day CII Partnership Summit held in Mumbai, Prabhu said the Agriculture Export Policy will be announced in the next few days which will also boost horticulture, plantation, fisheries and dairy sectors besides the agriculture, enabling the farmers to fetch good price for their produce. 

The Minister informed that the UAE and Saudi Arabia have showed interest in investing in India’s agricultural sector as both the countries want to make India a base for ensuring their food security.

Prabhu also informed that the govt is coming up with a maiden Air Cargo policy to promote air connectivity to export perishable agricultural goods. He said investment in Indian logistics sector is expected from Saudi Arabia, UAE and atleast 15 to 20 countries from other parts of the world. 

He said, the government is working on bilateral trade to push exports. Mr Prabhu said, the aim is to open up more for free trade and make WTO more efficient. He said, one of the big challenges before the world is protectionism and India is supporting open trade with all the countries, and New Delhi also wants to develop bilateral trade agreements with many countries.
More than 1000 delegates from around 46 countries, including politicians, leaders in various industries, multilateral agencies, UN organizations and businesses attended the Partnership Summit.

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