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India recorded export growth of 4 per cent in Sept: UNCTAD.

Oct 23, 2020

Export growth declined in India in the third quarter of 2020 relative to the same quarter last year but picked up pace in September, according to a global trade update by the UN. The UNCTAD's new global trade update said that global trade recorded a 5 per cent drop in the third quarter of 2020 compared with the same period last year. This marks an improvement on the 19 per cent year-on-year plunge recorded in the second quarter, and the United Nations Conference on Trade and Development (UNCTAD) expects the frail recovery to continue in the fourth quarter.

India's export growth saw a decline of 6.1 per cent in the third quarter of 2020 as compared to third quarter of last year. However India recorded export growth of four per cent in September, it said. Depending on how the COVID-19 pandemic evolves in the winter months, the UN trade and development body expects the value of global trade to contract by 7 per cent to 9 per cent with respect to 2019.

Source: The Economic Times

Promotion of the production and consumption of nutri-cereals is a policy shift in the right direction.

Oct 23, 2020

For anyone who wishes to understand the complex interplay of nutrition, food systems and farmers’ welfare, the insights shared by Prime Minister Narendra Modi on World Food Day are a crash course worth taking.

One of the most important highlights from the speech was the focus on the production of millets, also now known as 'nutri-cereals'. Giving examples of nutri-cereals like jowar, bajra and ragi, PM Modi also shared how the Food and Agriculture Organisation (FAO) has endorsed India’s call for declaring 2023 as the 'International Year of Millets'. He spoke at length about how the government is incentivising the production of nutri-cereals to increase the intake of diverse and nutritious diets, improve their availability in markets and bring benefits to small and medium farmers, who are the main cultivators of coarse grains.

Source: The Indian Express

India must become a key exporting nation: Kant.

Oct 23, 2020

If India has to grow, then it will have to look at global markets and become a key exporting nation, Niti Aayog CEO Amitabh Kant said on Thursday.

Participating in a virtual event organised by the Public Affairs Forum of India (PAFI), Kant further said no country has become rich without penetrating the US market and India must get into it in a big way.

'We must understand globalisation has lifted vast segments of the population in the last few decades. If India has to grow, we have to look at global markets and become a key exporting nation.

Source: The Economic Times

Oman, India bilateral trade grew 8.5% in 2019-20.

Oct 23, 2020

The 9th Session of the Oman-India Joint Commission meeting (JCM) was held on October 19, 2020 through the virtual platform. It was co-chaired by Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion and Hardeep Singh Puri, Minister of State for Commerce and Industry.

The meeting was attended by representatives of various government departments/ministries from both sides.

Both sides reviewed the recent developments in trade and investment ties and reaffirmed their commitment to expand the bilateral trade and encourage businesses to invest in each other’s country in order to realize the untapped potential in the commercial and economic relationship.

Source: ZAWYA

The three-lane highway that leads to a self-reliant India.

Oct 23, 2020

In recent times, self-reliance has become a mantra with various labels, from Make in India and Vocal for Local to Atmanirbhar Bharat, sounding off as a clarion call urging business owners as well as entrepreneurs to arise and embrace the possibilities of new horizons.

The signalling of a new indigenous payment platform by mobile wallet companies, and the growing realization that everything that this nation needs can and must be built in India itself is welcome. However, that won’t happen without the Triple E Highway: a set of pathways comprising education, entrepreneurship and employment, all of which are themselves seeing tectonic shifts.

Source: Live Mint

Indian economy at doorstep of recovery, says RBI governor.

Oct 23, 2020

The Indian economy is at the 'doorstep of revival' and both the government and the Reserve Bank of India are maintaining an accommodative stance, according to the central bank’s governor Shaktikanta Das. An accommodative stance means being prepared to provide all the funds required to support growth. His statement comes a fortnight after he forecast that the economy would break out of contraction in the fourth quarter.

'Today, we in India are at the doorstep of the revival process after the impact of the pandemic. Many financial entities have already raised capital and others are planning and would do so in the coming months,' said Das. He said that the RBI has asked lenders to raise capital not just to strengthen their resilience to overcome stress but also to have enough to support growth and ensure that credit flow is maintained when the economy enters the revival phase.

Source: The Times of India

Jaishankar Holds Virtual Meeting With Moroccan Foreign Minister.

Oct 23, 2020

External Affairs Minister (EAM) S Jaishankar on Thursday held a virtual meeting with Moroccan Foreign Minister Nasser Bourita and the two leaders had an in-depth exchange of views on regional and global issues including the UN reforms, international fight against terrorism and climate change.

A Ministry of External Affairs release said that Bourita congratulated India on its election to the non-permanent seat of the UNSC and also conveyed the Moroccan Government's support for India's permanent membership in an extended United Nations Security Council.

'The two ministers had an in-depth exchange of views on regional and global issues, including the UN reforms, international fight against terrorism, climate change, renewable energy and cooperation under the India Africa Forum Summit (IAFS) mechanism,' the release said.

Source: Business World

India to hold third 2+2 Ministerial Dialogue with US on 27 Oct.

Oct 23, 2020

US Secretaries of State and Defence -- Mike Pompeo and Mark Esper – will be visiting India next week for the third India-US 2+2 Ministerial Dialogue on 27 October with the challenges posed by a rising China are expected to occupy a key part of the talks’ agenda.

The visit is seen as the last major diplomatic engagement between India and the US as well as on the US calendar itself before the 3 November US presidential polls. It also comes days after India gave its nod to Australia joining the Malabar naval exercises alongwith the US and Japan – adding a maritime dimension to the 'Quadrilateral Security Dialogue' between the four countries – seen as democracies and espousing freedom of navigation in a free and open Indo-Pacific. The “Quad" as the group is known is seen as a counterweight to China.

Source: Live Mint

Govt soon to finalise air corridor between India & Central Asia.

Oct 23, 2020

To strengthen India-Uzbekistan bilateral trade and investment opportunities, FICCI has organised the ‘India-Uzbekistan Business Forum’ webinar.

Manish Prabhat, Ambassador of India to Uzbekistan said that there is a need to take the strategic relations between Indian and Uzbekistan to newer heights that would translate into close cooperation into all areas, including trade, economy, and investments.

Addressing the webinar, Ambassador emphasized 'We are working on the International North-South Transport Corridor (INSTC) and Uzbekistan can also become its member. An air corridor between India and Central Asia is also being worked on. Indian carriers should also target direct flights to Uzbekistan.'

Source: KNN India

Time to rebuild demand, says principal economic adviser.

Oct 23, 2020

Principal economic adviser Sanjeev Sanyal on Thursday said time has come to give a push for reinflating demand in the economy hit hard by the COVID-19 pandemic.

He also said there are certain sectors like hospitality which need 'special love and care.'

'There has been a big shock to the system and we need to rebuild demand. Some of it...happens to be coming back naturally but not in every sector.

'There are some sectors that still are held back, hospitality being an obvious one. So let me say that we recognise this issue...,' he said at a virtual conference organised by CII.

Source: The Times of India

India: Organic farming redefines Kashmir agriculture.

Oct 23, 2020

In Kashmir, more than 2000 hectares of land are being brought under the cultivation of organic vegetables.

The Director of Agriculture for Kashmir, Altaf Aijaz Andrabi, said that the Organic Vegetable Sale Centre, which was recently made operational at the Agriculture Complex Lal Mandi, had received an overwhelming response from both growers and consumers.

He told The Kashmir Monitor: 'Presently, we have 36 clusters of 20 hectares each under organic farming. We are promoting organic farming on a large scale. We have plans of having 100 more clusters. Nearly 2000 hectares of land will be brought under organic farming.'

Source: Fresh Plaza

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