TRENDS IN AGRICULTURE TRADE AND THE INFLUENCE OF GLOBAL CRISES ON EXPORT

ABSTRACT

Agricultural trade in India has recently experienced significant changes as a result of global crisis. The years 2021 and 2022 saw record exports ($50.2 billion) and imports ($32.4 billion). The resulting surplus of $17.8 billion was significantly lower than the surplus of $27.7 billion in the previous record-breaking export year 2013–14. Covid pandemic and Russia Ukraine war had a positive influence on the record exports from India. But the greater increase in imports has partially offset the remarkable expansion in exports. In this context, an attempt has been made to examine the causes of this pattern in India's export of agricultural produces. The study in this regard is significant because, aside from software services, this is one industry in which India has some comparative advantage. The nation must prioritise a stable trade policy, especially for those goods having highest trade potential.