India fast heading for agri trade deficit despite being a farm economy

Trade surplus of 145% narrows to 6% in four years on rising import, falling exports

From a 150 per cent surplus of export over import, India’s trade balance in agricultural and allied products has slipped in four years to near-equality.

Data compiled by the Directorate General of Commercial Intelligence and Statistics under the ministry of commerce and industry showed India’s exports of agri and allied products declined by 25 per cent to $24.7 billion for financial year 2016-17, as against nearly $33 billion in 2013-14. In contrast, import of agri and allied products jumped in the same period to $23.2 billion, from $13.5 billion.

Many meteorological zones saw two subsequent years of drought since FY14,