UAE and Saudi Arabia have decided to use India as a base to address their food security concerns, Union Minister for Commerce and Industry Suresh Prabhu said at a summit of the Confederation of Indian Industry on Sunday in Mumbai.
“The UAE and Saudi Arabia will use India as a base in addressing their food security concerns. For the first time, India’s export policy identifies the potential of agriculture along with horticulture, dairy, plantation and fisheries,” Prabhu said.
“We are ready for exports. A great buyback is possible from the Gulf region. The UAE wants to invest in organic and the food processing industries. The farmers are already getting 150% of production cost as Minimum Support Price. If a farmer exports, he will earn much more,” he added.
Prabhu also stated that the two countries will be investing in organic and food processing industries. He also stated that the NDA government has removed restrictions on organic and processed products which will benefit Indian farmers who are looking for a higher price for their products.
“In the export policy, we have decided to remove all restrictions on organic products and processed products. Both the UAE and Saudi want to invest in both organic as well as food processing industries. This will be a win-win situation for the UAE, Saudi, and other GCC countries but also for us, particularly for our farmers, who want better prices to their products,” he stated.
He further asserted that there was a huge scope for agricultural exports and the NDA government’s Agricultural Export Policy will benefit the farmers of the country. He stated, “There is huge potential for agriculture exports. The Agriculture Export Policy approved by the Union Cabinet recently will give a boost not only to agriculture but also to horticulture, plantation, fisheries and dairy sectors. The policy will help fetch good prices for agricultural produce.”
The Union Minister also said that the government is looking to establish bilateral trade relationships with all countries. He displayed an eagerness to have free trade agreements with Latin America, Africa and Southeast Asia.