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India-Africa trade touches $ 62.66 billion for 2017-18, increases 22%

Jan 16, 2019

India’s partnership with Africa based on a consultative model of cooperation, non-prescriptive, participative, and responsive to the needs of the African countries, witnessed an increase in bilateral trade of nearly 22% from the last year. Ranking as the third largest export destination in Africa, India-Africa trade has touched $ 62.66 billion for 2017-18.
 
Sources told Financial Express Online that, The Duty Free Tariff Preference (DFTP) Scheme announced by the government for Least Developed Countries (LDCs) has immensely benefited African nations and contributed towards steady increase in the trade figures by extending duty-free access to 98.2 % of India’s total tariff lines. So far, 38 African countries enjoy the benefits of the DFTP Scheme.
    
Source: Financial Express



India's merchandise exports rise 0.3% in December 2018

Jan 16, 2019

Trade deficit narrows to 10-month low of US$ 13.08 billion in December 2018
 
India's merchandise exports rose 0.3% to US$ 27.93 billion in December 2018 over a year ago. Meanwhile, merchandise imports declined 2.4% to US$ 41.01 billion, leading to 7.9% dip in the trade deficit to 10-month low of US$ 13.08 billion in December 2018 from US$ 14.20 billion in December 2017.
    
Source: Business Standard



Uzbekistan eyes to emerge as India's gateway to Central Asia

Jan 16, 2019

Uzbekistan President Shavkat Mirziyoyev will attend Vibrant Gujarat international investment summit as a key guest of the Prime Minister Narendra Modi on January 18-20 , with an eye to upgrade ties to a new level opening a new chapter in India's Central Asia outreach. 
 
This visit comes days after the maiden India-Central Asia and Afghan meet in Samarkand, Uzbekistan last Sunday. 
 
This is the second visit of Mirziyoyev to India during the last four months. State visit of Uzbekistan’s President in October
    
Source: Economictimes.indiatimes



Government unveils national air cargo policy

Jan 16, 2019

The government Tuesday unveiled its much-awaited national air cargo policy, which seeks to make India among the top five air freight markets by 2025, besides creating air transport shipment hubs at all major airports over the next six years. 
 
The policy document released during the two-day Global Aviation Summit 2019, which kick started here Tuesday, stated that the policy will encourage code sharing/inter-line agreements between foreign and Indian carriers. 
 
    
Source: Economictimes.indiatimes



Central Govt is working on ambitious plan to save perishable food items: Badal

Jan 16, 2019

Central government has already started working towards developing mechanism to ensure that states producing any item in excess are able to transport it to other states where there is a demand, said Harsimrat Kaur Badal, Union Cabinet Minister of Food Processing.
 
Badal was speaking at the inauguration of the second edition of Indus Food, India's official, export-focused Food & Beverage Trade Fair.
    
Source: Knn India



India for improved multilateralism with focus on Indo-Pacific

Jan 16, 2019

India has called for a more multilateral global order keeping in focus the Indo-Pacific, a region that has grown in significance in recent years.
 
Noting that India was committed to upholding multilateralism and the institutions it engenders, External Affairs Minister Sushma Swaraj said on Monday that the world was going through a particularly disruptive phase.
    
Source: Business Standard



Paddy MSP remunerative for farmers: CACP chairperson

Jan 16, 2019

Amid demand to fix minimum support price (MSP) of paddy at Rs 2930 per quintal, Commission for Agricultural Costs and Prices (CACP) chairman Vijay Paul Sharma on Tuesday said MSP fixed for paddy at present (Rs 1750 per quintal) is is ‘remunerative’. 
 
CACP under the Union ministry of agriculture and farmers’ welfare is mandated to recommend the MSP of various agriculture produce to the Centre to incentivise the farmers.
 
We have a scientific method of determining the support price. It is being determined based on all India factors. There are problems in certain states where farmers are not even able to get the MSP amount. Both the state government and Centre should ensure that the farmers should get the support price, said Sharma. 
    
Source: Times of india



India asks WTO members to resolve judges' appointment issue in appellate body

Jan 16, 2019

India Tuesday asked the members of the World Trade Organisation to come forward for resolving the issues related to the current impasse in the appointment of judges in the WTO appellate body. 
 
The delay in appointment of members in the appellate body of the WTO's dispute settlement mechanism would hamper its functioning. The US has blocked the appointment of these members. 
 
India reiterated its willingness to engage in resolving the issues related to the current impasse in the appointment/reappointment of judges in the WTO appellate body and urged the WTO members to come together to resolve the current crisis, Additional Secretary in the department of commerce Sudhanshu Pandey said. 
 
He said this while addressing a programme of Centre for Trade and Investment Law (CTIL) here. 
 
    
Source: Economictimes.indiatimes



3 expectations of agri and food-tech startups from this year’s budget

Jan 16, 2019

The Indian startup ecosystem is all set to grow, thanks to the schemes such as Startup India introduced by PM Modi. The startups in the agri sector have also seen movement in this area, both in the agri-tech and food-tech space.
 
Let’s first consider the agri tech startups. By definition, an agri tech startup is an entrepreneurial business model covering any part of the crop value chain. Over the last decades, we have seen the business model in agriculture develop around warehousing solutions. It was a sweet spot between trading entities and logistic service providers both of whom found value in integrating these services to their core business model.
    
Source: Financial Express



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