The removal of export restrictions and controls on rice by the Central Government has led to a significant boost in India's rice exports.

From April to November 2024, the export of agricultural and processed food products from India increased by more than 8%, totaling $14.01 billion, compared to the same period last year. A key contributor to this rise was rice.

Notably, exports surged after the government made several key policy changes. In September 2024, India approved the export of non-basmati white rice and lifted a 20% export duty on Sela rice.

Additionally, the minimum export price requirements—$950 per tonne for Basmati rice and $490 per tonne for white rice—were removed.

These moves made Indian rice more competitive on the global market, spurring greater demand from countries in Asia and Africa.

As a result of these changes, rice exports are expected to increase by more than 10% during the current financial year.

Last year, rice exports were valued at $10.41 billion, which was 6.5% lower than in 2022-23. This year, India is targeting the export of 50 lakh tonnes of Basmati rice, a goal that appears achievable given the current trends,

especially considering that Pakistan exports less than 10 lakh tonnes of Basmati rice. Despite some challenges with Iran, India's Basmati rice export performance remains strong.