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Non-basmati rice exports surge as West Asia, Africa build reserves.

Mar 08, 2021

At a time when most other major agricultural and processed food products either saw a dip or lukewarm growth in shipments, India’s non-basmati rice exports experienced a surge, despite the ongoing Covid-19 pandemic.
 
Shipments of the staple food grain between April 2020 and January 2021 more than doubled over the same period in the previous financial year, showed provisional government data.
 
Shipments of the food grain rose 115.44 per cent to $3.51 billion in April-January 2020-21 from $1.63 billion in the same period in 2019-20, according to the Agricultural and Processed Food Products Export Development Authority (APEDA).
    
Source: The Indian Express



India likely to start full operations at Iran's Chabahar port by May end.

Mar 08, 2021

India expects to start full-scale operations at Iran's Chabahar general cargo port it has built by the end of May, the country's shipping minister said in a boost for regional trade.
 
India has been developing a part of the port on Iran's south-eastern coast along the Gulf of Oman as a way to transport goods to Iran, but also Afghanistan and central Asian countries, and avoiding rival Pakistan.
 
But US sanctions on Iran slowed down the port's development and Indian officials are now counting on a thaw in relations between Washington and Tehran under President Joe Biden to move forward with near $500 million of investments.
    
Source: The Times of India



Australia eyes closer economic ties with India after trade row with China.

Mar 08, 2021

Australia, which is emerging as a key partner of India in the Indo-Pacific region, is keen to expand its partnership beyond security and defence and is in talks with New Delhi to enter into a trade arrangement to boost its mining sector and wine sales following a trade war with China, ET has learnt.
 
Australia is trying to woo India to fill the vacuum created by China in its mining sector investments and the import of wines, ET has reliably gathered.
 
Companies including Coal India Ltd are actively engaging with Australian miners.
    
Source: The Economic Times



India should be self-sufficient in manufacturing containers: Goyal.

Mar 08, 2021

Union Railways Minister Piyush Goyal on Friday said that for achieving the Atamnirbhar Bharat vision and mission of Prime Minister Narendra Modi, India should be self-sufficient in manufacturing the containers to meet the shortage of the best quality containers.
 
Addressing the inaugural ceremony of a webinar on 'Indigenous containers manufacturing' the minister called for manufacturing indigenous containers with GPS enabled technology for better logistics which is the life-line of the Indian Industry.
 
Goyal said, 'There is a need for refrigerated containers and instead of depending on the imports of such containers we should manufacture them indigenously to work towards making India self-sufficient in the maritime economy.'
    
Source: Live Mint



Industry positive on economic revival to pre-Covid levels: FM.

Mar 08, 2021

Finance Minister Nirmala Sitharaman on Friday said the message from the industry about Indian economy’s revival to pre-Covid levels was positive.
 
Noting that the Union Budget represented a blend of stimulus and reforms which the country needs for progress over the next 25 years, the Finance Minister said she had been interacting with a range of industry leaders about the revival of the economy and they were all positive.
 
'I’ve been interacting with a lot of industry groups across the board from cement and tyre manufacturers to services sector and they all say their businesses are running to full capacity,' Sitharaman said during an interaction at the Indian Women’s Press Corps.
    
Source: The Tribune



India has advanced the target for increasing ethanol blending levels: PM.

Mar 08, 2021

Prime Minister Narendra Modi on Friday said India has advanced the target for increasing the ethanol blending levels from 2030 to 2025. He said this while delivering the keynote address at the CERAWeek 2021 through video conference. Modi was also awarded the CERAWeek Global Energy and Environment Leadership Award.
 
'There is growing acceptance of ethanol across India. Based on people's response, we have decided to advance the target of 20 per cent blending of ethanol in petrol to 2025 from the earlier target of 2030.' Modi said that 5,000 compressed biogas plants will be set up by 2024 with a production target of 15 million tonnes.
    
Source: Business Standard



TPCI to organise international food, beverages fair this month in Gr Noida.

Mar 08, 2021

The Trade Promotion Council of India (TPCI) on Sunday said it organise a two-day mega food and beverages fair from March 20 in Greater Noida, to attract global importers.
 
The fourth edition of 'IndusFood', to be organised in a physical format, will be supported by the commerce ministry.
 
'Over 400 large Indian exporters of  food and beverages' products will conduct business with more than 700 global pre-invited and pre-screened hosted buyers representing over 50 countries during this show,' TPCI said in a statement.
 
TPCI Founder Chairman Mohit Singla said this is a defining moment when Indian exports will get a platform in first physical format after the COVID-19 wave to trade with the world and get market connectivity sitting in India.
    
Source: Outlook India



India-Australia trade agreement gathering momentum under Morrison: Report.

Mar 08, 2021

India is moving in to fill the vacuum left by China for Australian resources and wine, with a free-trade agreement between Canberra and New Delhi gathering momentum under efforts by Prime Minister Scott Morrison to unlock new markets for Australia, a news report said over the weekend.
 
According to a report in 'The Australian,' India under Prime Minister Narendra Modi was seeking greater access to Australian resources, including coal and rare earth minerals. There was also a push by New Delhi to access Australian copper, steel aluminium, cobalt and nickel. This came ahead of India’s Adani Group’s Carmichael mine in Queensland producing its first coal load this year, the Australian news paper reported.
    
Source: Live Mint



India, Japan cool to Colombo offer of new port project.

Mar 08, 2021

Days after the Sri Lankan cabinet decided to allocate Colombo’s West Container Terminal (WCT) to an Adani Group consortium to compensate for cancelling the East Container Terminal (ECT) agreement, previously signed by India and Japan, both New Delhi and Tokyo have signaled their distancing from the decision.
 
'Our High Commission in Colombo has already conveyed to the Government of Sri Lanka (GoSL) that their media release, in so far as their reference to the approval of the (Indian) High Commission, is factually incorrect,' Ministry of External Affairs (MEA) spokesperson Anurag Srivastava said on Friday, speaking about the cabinet notification issued on March 1 (https://www.dgi.gov.lk/news/cabinet-decisions) that had said the proposal presented by the Adani group and Special Economic Zone Ltd, a consortium called APSEZ, had been “approved” by the Indian High Commission.
    
Source: The Hindu



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