Question

Which agricultural commodity of India gives the largest export value?
A. Tea
B. Basmati rice
C. Spices
D. Cotton

Answer 1

Hint: India is currently the 16th largest product export economy in the world. GDP per capita of India is 2000 ranking it at 152nd out of 196 countries. India’s most exported commodities are: Oils & mineral fuels, Rice, Tea, Spices, Cotton, Precious stones and metals, Iron and steel etc.

Complete Answer:
- When it comes to exports, Rice India leads the way and has 26.7% of the annual World- wide total with Thailand’s nearest competitor getting 21.9 percent and the other major exporters all enjoying a single-digit market share.
- Over the last 50 years, India’s rice production has increased three-fold, although it is understood that climatic conditions affect yields. The ban on importing basmati rice from India has recently been lifted by Iran and this could be a major development as Iran is the world’s largest Importer with 5.5% of Import share.
- Beside this, other main countries which are exporters of rice are- Vietnam with (8.38%) and Pakistan with (7.79%) share of a global total of 25.4 billion dollars.
- When we talk about commodities which are exported from India then the Tea was exported (US 281. 39 million dollars) in August 2020, for Spices (US 3033.44 million dollars), for Cotton (50 lakh bales) and Rice for (540 billion rupees). Hence, Basmati Rice gives the largest export value as an agricultural commodity of India.

Note: Basmati Rice, essentially from the Indian Sub-continent, is long, slender and aromatic rice. Exports of Basmati and non-Basmati rice were estimated at 540 billion rupees in fiscal year 2019. This was consistent with the increasing value of rice since fiscal year 2011.