What is India's agricultural balance of trade?
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It is the relationship between a nation's imports and exports. A favorable balance of trade is known as a trade surplus and consists of exporting more than is imported; an unfavorable balance of trade is known as a trade deficit or, informally, a trade gap.
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At present India is required to quadruple its exports in the sector of agriculture and allied exports by 2022. The estimated balance trade is $13 billion annually.
Explanation:
- There is an increasing need for long term agricultural policies. India being 3rd in egg production, 2nd in fruit production and 1st in the production of milk.
- All of this happens due to the commitment of farmers to indulge in intensive multi-cropping and making use of family labour to get the job done.
- They are efficient in their job but this will only continue some long term policy is introduced by the government in favor of these farmers.
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