Minister for Commerce and Textiles, Anand Sharma today said that the country is emerging as a major exporter of foodgrains. Inaugurating the 27th edition of AAHAR-International Food and Hospitality Fair in New Delhi today, Mr Sharma said that Basmati rice is the single largest export product in the agri-export basket and has an acknowledged brand value in the world. He expressed the hope that by 2014, India’s agriculture and food export will reach 40 billion US Dollars.

Mr Sharma said that the country's food market is estimated at over 182 billion US Dollars, accounting for about two third of the total retail market. He said, AAHAR being the biggest food industry exposition in the South-Asian region, it has emerged as an important destination on the itinerary of businesspersons and trade visitors of this sector. Mr Sharma remarked that the country is presently the world’s second largest producer of food next to China.