Another Big Achievement of Modi Government. On June 5, 2020 First time in country’s history india's FX Reserves cross Half Trillion Dollar Mark....and On 4 December 2020,it crossed USD 580 Billion Mark.
✔March 2004 - March 2014-
India's Forex reserves increased a total $197 billion (from $107Bn to $304 Bn).
✔ 2014-4DEC 2020-
Under Modi Govt (2014-4Dec 2020) total Forex Reserves increases approx $276 billion (From $304Bn-$580Bn).
I think end of March 2025 India's Forex Reserves could hit $1tn Mark.✔Due to Make in India ,Atmanirbhar Bharath and vocal for local campaign.
India needs to focus on Agriculture sector ,India can save/earn $30 -40 billion foreign currency,per annum from Edible oil ,soybean and Medicinal plants.
✔Agriran sector can contribute $30-$40 billion Foreign Exchange per annum.
(1)India imported 15 million tonnes Edible oil,at a cost of $10 billion Foreign Exchange....india should increase edible oil production.india can save $10 billion Foreign currency annually.
(2)We know Global soybean market approx $200 billion...but India's share in global soybean market negligible almost zero .... top soybean export countries US,Brazil, Argentina and China.
(3)The total world herbal trade is currently $120 billion... India's contribution
very poor,herbs export worth was $330 Million in 2017-18,though India is a Agriculture based country.
We know USA top agricultural exporter around $150 billion, 2nd Brazil $110 billion while india only $30 billion.
India needs to focus on agricultural export.....i think Edible oil, soybean and Medicinal plants can contribute additional $30 billion FX currency per annum.
