India registered a growth of 8.02% in the export of millets in FY 2021-22
India's Agricultural and Processed Food Products Export Development Authority (APEDA) signed a Memorandum of Understanding (MoU) with Lulu Hypermarket LLC on Friday to harness the export potential of millets to the Gulf Cooperation Countries (GCCs). APEDA works under the Ministry of Commerce, Government of India. Here's a look at why this MoU is significant 1. Government of India had proposed to the United Nations that 2023 be declared as the International Year of Millets. 2. The United Nations General Assembly declared 2023 the International Year of Millets (IYM 2023) at its 75th session in March 2021. 3. According to estimates, the millets market is set to grow from its current market value of more than USD 9 billion to over USD 12 billion by 2025. 4. As per official data, India registered a growth of 8.02% in the export of millets in the financial year 2021-22 - the export of millets was 159,332.16 metric tonne against 147,501.08 metric tonne during the same period last year. 5. India has exported millets worth USD 46.05 million during April-November 2022-23, with the UAE being the major importing country of Indian millets. 6. APEDA aims to promote millet products and value-added products around the world in association with Lulu Group. The group is an international retail hypermarket chain that operates stores and shopping malls across Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, Egypt, India and Far East, the Ministry of Commerce and Industry said. 7. As per the agreement, the Lulu Group will facilitate promotional activities for millet products and enable the country to display millets and its value added products, ready to eat products in international retail chains by sourcing it from Farmer Producer Organizations, Farmer Producer Companies, women entrepreneurs and startups. 8. APEDA is also organizing export promotion activities for millets in 16 International Trade Fairs, including Gulfood 2023. 9. APEDA has planned to organize millet promotional activities in South Africa, Japan, South Korea, Indonesia, Saudi Arabia, Sydney, Germany, United Kingdom and United States of America by facilitating the participation of different stakeholders from India. 10. APEDA will also showcase India's millets and its value added product at global platforms such as Foodex, Seoul Food & Hotel Show, Saudi Agro Food, Fine Food Show in Sydney (Australia), Belgium’s Food & Beverages Show, Germany’s BioFach and Anuga Food Fair, as well as San Francisco’s Winter Fancy Food Show.