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09 Jan, 2024
Kochi to host Plantation Expo from Jan 20 to 22.
The second edition of the Kerala Plantation Expo will be held in Kochi for three days from January 20, invigorating the State government’s measures towards the growth of Kerala’s plantation sector by showcasing its brand potential to tap the global and domestic demand for a wide range of products and services.
An array of special B2B meets showcasing the products and services in the plantation sector will be a highlight of the expo. The State Industries Minister P Rajeeve will inaugurate the expo.
Organised by the Plantation Directorate of the State Industries Department, the expo strives to reinstate the glory of Kerala’s storied plantation sector by featuring its history, diverse products including spices and industrial raw materials like rubber and more recent diversification into tourism and hospitality activities, a press release said.
The event will feature stalls by Kerala-registered plantations, distributors of tools and equipment related to the sector, service providers and plantation institutions under the State and Central governments. The first edition of the Plantation Expo was held in Thiruvananthapuram in February last year.
Source:
thehindubusinessline.com
09 Jan, 2024
Few 'ticklist' issues to resolve for India-UK free trade agreement: Piyush Goyal.
The India-UK free-trade agreement (FTA) has a 'few ticklist issues' that need to be sorted out, Union Minister for Commerce Piyush Goyal told reporters at a press briefing on Monday in Chennai.
'The EU (FTA) being 27 countries will take more time (but) the UK can be done quickly but there are a few ticklist issues,' he said.
According to the government, India-UK free trade agreement talks completed 13 rounds of negotiations that took place from 18 September to 15 December. The fourteenth round of negotiations are expected to begin this month.
When asked for a timeline, Goyal said that one can never put a deadline to an FTA.
'You have to look at 50 years, you have to crystal gaze into the future, carefully analyse and assess and never do an FTA in a hurry,' he said. 'Do it smart. That doesn't mean you cannot do it fast. You can do it smart and fast, but don't do it in a hurry till you are very sure about all your data, all your inputs, your protections, your offensive interests, your defensive interests.'
Goyal said that other countries too such as Oman, Peru and Chile were also courting India to sign an FTA but the minister said that currently India did not have the bandwidth to take these on at the moment.
'If I talk to any foreign minister, the first thing they say is we want to do an FTA,' he said. 'Russia also wants to do an FTA. So everybody wants to do an FTA with us.'
The minister also spoke about how he felt 'scorching growth' in exports was not sustainable and that he told his team that they should be modest in their expectations and give it time to cool off.
'In only two years, (exports have gone) from $500 billion to $776 billion,' he explained. 'It is 55% growth in only two years. Such scorching growth is not possible to continuously sustain. You need to cool off, you need to stabilize your numbers, you need to stabilize your supply side.'He said that this year, a lot of commodity prices fell, including petroleum and hence some element of the fall in India's exports is also due to commodity prices. However, he said this has been made up with other value-added products like smartphones.
'This year we had at least $5-6 billion worth of (exports in) smartphones,' he said. 'Apple alone will be $5 billion of exports, probably by the end of the year. So, in terms of foreign trade, we are doing very well.'
Source:
economictimes.indiatimes.com
09 Jan, 2024
India's agricultural exports to rise despite curbs on wheat, rice, sugar.
India's agricultural exports will rise in fiscal 2023/24 from last year despite curbs on wheat, rice and sugar, the nation's trade minister said on Monday, amid efforts to diversify shipments.
The world's second-largest producer of wheat, rice and sugar, India restricted exports of these commodities last year in a bid to rein in rising domestic prices.
These restrictions are likely to cause a shortfall of about $4 billion to $5 billion this year, Reuters reported last month.
'We had agri exports in the aggregate of about $53 billion in 2022/23, and we expect the number to increase in the current year despite the restrictions placed on export of rice, wheat or sugar,' trade minister Piyush Goyal said in his address to a conference in New Delhi.
Data from state-run trade body APEDA showed that exports of meat and dairy, cereal preparations, and fruits and vegetables rose between April and November this year.
Source:
economictimes.indiatimes.com
09 Jan, 2024
Non-basmati prices high on low supply.
Prices of non-premium non-basmati rice continue to rule firm despite the central government's recent instructions to the trade and industry to reduce prices. Surprisingly, rice prices have stayed firm even when the paddy harvest is underway and exports have been banned.
Traders say the main reason for high prices of non-premium non-basmati rice varieties is their lower availability in the market due to lower monthly free distribution and sale of rice (offtake) by the Food Corporation of India (FCI).
An analysis of FCI data shows monthly rice offtake for September, October and November in 2023 declined by close to 50% compared to corresponding months of 2022.
The offtake of rice in September and October 2023 was 2.838 mt and 3.098 mt,respectively, while in September and October 2022, the monthly offtake was 5.848 mt and 5.386 mt , respectively. The offtake of rice in November 2023 was 3.126 mt against 7.083 mt in year-ago month.
Trade insiders said FCI reduced sale to meet combined buffer stock norms of wheat and rice, as even the wheat stocks with the agency were inadequate. 'As less rice is available to the people through FCI, they are buying rice in the open market, which has been keeping the prices high,' said rice trader Rajesh Jain Paharia.
Rice inflation has been ruling in the double digits since last one year.
Source:
economictimes.indiatimes.com
08 Jan, 2024
India, Nepal ink 4 key pacts to boost trade ties and improve connectivity.
India and Nepal on Thursday signed four agreements, including on long-term power trade and the launch of a satellite, as external affairs minister S Jaishankar and his Nepalese counterpart Narayan Prakash Saud explored ways to bolster cooperation in areas ranging from connectivity to trade.
Jaishankar, on his first foreign visit of the new year, and Saud co-chaired a meeting of the India-Nepal joint commission that reviewed the overall bilateral relationship and trade and economic ties. The meeting also discussed land, rail and air connectivity projects and cooperation in defence, security, agriculture, energy and water resources, Jaishankar said in a post on X.
The two sides signed four agreements, including one between the two governments on long-term power trade.
During Nepal Prime Minister Pushpa Kamal Dahal’s visit to New Delhi in June 2023, the two sides had agreed that India will ramp up the purchase of hydropower from Nepal to 10,000 MW within the next 10 years.
On Thursday, Jaishankar also met Nepal Prime Minister Dahal and conveyed the 'warm wishes' of Prime Minister Narendra Modi.
'Recalled his successful visit to India in June 2023 which has imparted a new momentum to our ties. Discussed the follow-up, including through the Joint Commission Meeting today. India-Nepal friendship is indeed unique and our partnership is moving from strength to strength,' Jaishankar posted on X.
A memorandum of understanding (MoU) between India’s NTPC Limited and the Nepal Electricity Authority will focus cooperation in the development of renewable energy. Another agreement between New Space India Limited (NSIL) and the Nepal Academy of Science and Technology (NAST) will facilitate the launch of the Munal satellite on India’s Polar Satellite Launch Vehicle (PSLV). The fourth agreement between the two governments covers Indian grants for implementing high impact community development projects.
The two ministers also virtually inaugurated three 132-kV cross-border transmission lines, including the second circuits of the Raxaul-Parwanipur line and the Kataiya-Kusaha line, and the New Nautanwa-Mainhiya line.
They also witnessed the hand-over of the fifth tranche of Indian assistance for people affected by an earthquake in Jajarkot area of Nepal in November 2023.
Jaishankar characterised the meeting of the joint commission as 'comprehensive and productive' and said the two sides also discussed disaster management, tourism, civil aviation, people-to-people and cultural exchanges, and the development partnership.
He also met Nepal President Ramchandra Paudel, and former prime ministers Madhav Nepal, KP Sharma Oli and Sher Bahadur Deuba.
Jaishankar is visiting Nepal at the invitation of Saud to co-chair the seventh meeting of the joint commission, which was established in 1987 and acts as a platform for both foreign ministers to review the bilateral partnership.
Source:
hindustantimes.com
08 Jan, 2024
US Trade Rep Katherine Tai To Visit India For Trade Policy Forum On Jan 12.
US Trade Representative Katherine Tai is visiting India next week to hold the annual U.S.-India Trade Policy Forum along with Commerce and Industry Minister Piyush Goyal on January 12. This year, a broad set of issues to enhance the resiliency of the trade relationship, including agriculture, industrial products, services, and the protection of intellectual property, among other topics, will be discussed at the forum, as per the release.
This forum plays a crucial role in strengthening and expanding the bilateral economic and trade relationship between the nations. It has helped in removing trade barriers and facilitated cooperation on some of the key issues under the leadership of Tai and Goyal.
After the forum, Tai will call upon the Union External Affairs Minister S Jaishankar.
On the following day, she will be calling upon civil society representatives, business leaders, and stakeholders to discuss the Biden-Harris Administration’s engagement and commitment to fostering closer ties between the US and India.
The trade relationship between both nations continues to grow stronger and reap beneficial harvests. Last year, both leaders reached several milestone agreements that delivered market access for American farmers and producers, and high-quality products to Indian consumers, read the press release.
The achievements of last year include a 70 per cent reduction of the tariff on pecans, the removal of retaliatory tariffs on almonds, chickpeas, apples, lentils and walnuts, boric acid, and diagnostic reagents. The list also includes commitments for additional tariff reductions on frozen turkey, and frozen duck, as well as fresh, frozen, dried, and processed blueberries and cranberries.
Both nations also reached agreements in order to resolve all seven of their outstanding World Trade Organization disputes.
The US emerged as India's biggest trading partner during the first half of the financial year 2023-24. The US was India's biggest trading partner in 2022-23 with bilateral trade rising 7.65% to $128.55 billion in 2022-23 against $119.5 billion in 2021-22, said US Ambassador to India Eric Garcetti in his post.
Source:
news.abplive.com
08 Jan, 2024
The SoFTeL scheme has six major components.
Food Safety and Standards Authority of India (FSSAI), under Ministry of Health & Family Welfare, Government of India is implementing a Central Sector Scheme named, Strengthening of Food Testing Laboratory (SOFTeL) System in the country, including provision of Mobile Food Testing Labs.
Indian Government is providing financial assistance for setting up food testing laboratories to ensure compliance with domestic and international standards for food products. A network of food testing and analysis laboratories is required to support the surveillance system of the food regulator and monitor the level of contaminants, additives, and pesticide residues in food items. The scheme offers grants-in-aid of 100% for government organisations and 50-70% for private organisations/entities. There is no ceiling to financial assistance when the ministry establishes or sponsors such projects. The proposals received for financial assistance are examined by a Techno Committee and then placed before a Project Approval Committee for consideration and approval. The grants will be provided on a case-to-case basis with the approval of competent authority. The implementation procedure involves presenting proposals before the Technical Committee and then the Project Approval Committee.
FSSAI's scheme focuses on strengthening state food labs, capacity building of food analysts, and incentivising states to use existing testing facilities. It aims to reduce the burden on government labs and involve schools and colleges in ensuring safe and wholesome food. The scheme aims to generate awareness among school and college-going youth through exposure to food testing in their internal labs. FSSAI took a 360-degree view of the food testing ecosystem in India. The SoFTeL scheme has six major components as follows:
1.Strengthening of State Food Testing Labs
The objective of the scheme is to strengthen food testing laboratories across states. A total of 45 labs are proposed to be equipped with state-of-the-art instruments. The objective is to enable these labs to analyse regulatory and surveillance samples quickly, test food safety parameters, reduce sample analysis time, ensure compliance with food standards, achieve accreditation within 2 years, and become a resource for training and facility upgradation. The scheme also aims to introduce an online laboratory data management system.
2.Strengthening of Referral Food Testing Labs
Strengthening of referral food testing laboratories will enable them to conduct referral and appeal tests by leveraging existing laboratories of various established laboratories in the government/public sector to ensure compliance with the FSSR. It is proposed to develop a world-class referral laboratory with high-quality testing equipment. It works within the framework of FSSR. As per FSSR, one-time financial assistance will be provided for up to one or two major equipment facilities at a maximum of Rs 3 billion.
3.Support for Mobile Food Labs
The plan envisages setting up of mobile food testing stations (one in every 20 districts of the state and at least one in each state/UT) (total 62 locations). The district group for each mobile laboratory will be decided in consultation with the respective State/UT Governments.The mobile laboratory will be responsible for food safety monitoring and awareness functions in remote areas of the state, large public communities, schools, and consumer organisations, providing qualitative testing of common food products such as ghee, milk, khoya, sweets. An inspection is on the horizon.This provides an on-site test option to test for foreign particle contamination. Unapproved food colourings found in various foods such as edible oils, namkeen, spices, and ready-to-eat foods. FSC staff in the region prepares 15-day district calendar for each mobile laboratory in the state/UT. Mobile laboratories will be operated by the respective State Governments/UTs or their agencies/NGOs/Trusts/Society as determined by the States/UTs. Grahak Suvidha Kendras set up by the Ministry of Consumer Affairs can also be used for this purpose.
The mobile food testing laboratory is expected to provide consumers in remote and inland areas with easy access to testing facilities for common foreign substances in food products.
The 4,444 food testing laboratories are located in only 4,444 major cities, making it difficult to analyse fresh food samples from 4,444 small towns and villages. Mobile laboratories can also be used to transport samples collected from remote locations to the nearest food testing laboratory.
The mobile food labs will have quick adulteration detection facilities and rapid test equipment for food items of mass consumption like: • Milk; • Packaged Drinking Water; • Oil.
4.Capacity Building of Food Testing Laboratories Personnel:
Capacity development is an essential part of strengthening and modernising the food testing laboratory ecosystem in the country.
The ultimate goal of this activity is for all Government food testing laboratories to receive his NABL accreditation and achieve parity with the best laboratories in the country.
All state food testing and standards laboratories are eligible to participate in this programme.
In order to build a network of effective and qualified food analysts in the country, institutes designated by FSSAI are also encouraged to participate in capacity development programmes.This requires not only good testing facilities, but above all qualified and competent food testing personnel.
Therefore, an element of training and capacity development is needed as an integral part of strengthening and modernising the national food inspection agency system.
Food analysts and other laboratory personnel must be familiar with the latest analytical techniques and methods. Scientific and technical personnel who are required to undergo mandatory training in government food testing laboratories are also encouraged to obtain her NABL certification by providing support and cost of NABL certification fees.
5.Incentivising States to utilise the facilities available in FSSAI Notified Labs
Utilisation of this vast infrastructure in the enforcement activities would cut down delays and bring in transparency. States would be encouraged to undertake surveillance activities in specified food categories by using the test facilities of FSSAI notified labs. For this purpose, States/UT would be incentivised to meet the cost towards the testing charges by the FSSAI notified labs.
6.School Food & Hygiene Programme
The primary objective of establishing basic food testing facility in schools is to disseminate information about the basic understanding of the FSSR and general hygiene and safety practices and involve schools and college youth in our endeavour to ensure safe and wholesome food.
A state level competition can be organised focused on the basic aspects of personal hygiene, Basics of food safety and quick tests for detection of food adulteration.The schools who qualify in the competition can be selected for the support to be provided.
It is proposed to cover 500 schools/colleges across the country for establishing basic facilities at level-1 with a grant of Rs 3 lakh each and another 1000 schools/colleges to establish facilities for food testing at level-2 with a grant of Rs 1 lakh each over a period of three years.
Source:
fnbnews.com
08 Jan, 2024
India to set-up specific trade zone in UAE.
The government plans to set up ‘Bharat Park’, an India-specific trade zone with a showroom and warehouse in the UAE. Goods Made in India will be displayed and stored for the global audience in the Park.
Piyush Goyal, Union Minister of Textiles and Commerce said the Bharat Park will facilitate other countries to buy Indian goods and the payment will be secured in UAE.
Urging the industry to maintain the quality of goods exported from India, he said the Bureau of Indian Standard will spend ?40 crore to set up 21 testing laboratories at various places in India.
Future of textiles
The future of the textile industry belonged to Man Made Fibre Textiles as there are limitations in ensuring enough supply of cotton to meet the growing demand, he said at the recent Export Awards function of The Synthetic and Rayon Textiles Export Promotion Council.
He urged the industry to use the free trade agreements with Japan, Australia, UAE and South Korea. The current poor utilisation of this opportunity is a matter of great concern for India, he added.
Bhadresh Dodhia, Chairman, SRTEPC said export of man-made fibre textiles was down 9 per cent at $3.1 billion in the first seven months of this fiscal against $3.4 billion in the same period last year, though technical textile exports improved marginally to $1.51 ($1.5 billion).
Dodhia said the industry is confident that textile exports will cross $6 billion in this fiscal and technical textile shipments will cross $3 billion.
SRTEPC will achieve the Government’s export target of $11 billion of man-made fibre and $10 billion of technical textiles by 2030.
Road blocks
SRTEPC has urged the government to cover the entire value chain of MMF textiles under same GST rate and correct the current inverted duty.
Dodhia requested the government to cover the entire value chain of textiles and clothing under the Interest Equalization Scheme.
The GST on fibre is levied at 18 per cent while that on yarn and fabrics is 12 per cent and 5 per cent.
This has led to accumulation of huge input tax credits with the manufacturers and adding up to cost of production besides hampering competitiveness in the international market.
Source:
thehindubusinessline.com
08 Jan, 2024
Millets can help address global food security, says Arjun Munda.
Millets or Shri Anna can play an important role in addressing global food security, said Union Agriculture Minister, Arjun Munda on Sunday.
Addressing the valedictory of the three-day Millets and Organics International Fair 2024 organised by the Government of Karnataka in Bengaluru on Sunday, Munda said millets offer solutions to problems such as climate change, water crisis and help contain soil degradation and help address food and nutritional security. The millennium goals can be achieved through the farmers of India, he said.
Overuse of chemicals
The overuse of agrochemicals and fertilizers has reduced the capacity of the soils, which will affect livelihoods. Growing millets can help fight climate change and help maintain the quality of the soils. With the world returning to vegetarianism, millets play an important role, Munda said adding that start-ups, FPOs, educational and research institutes should play an important role in creating awareness on the benefits of millets, he said.
Munda also said that the Government is looking at options to encourage millet consumption among children so that they get the nutritional benefits of the cereals.
Karnataka Revenue Minister, Krishna Byre Gowda said Bengaluru is not just the IT or BT capital, but a global hub for millets. Karnataka Government’s policy and efforts on creating awareness of millets way back in 2016 ended up in the declaration International Year of Millets in 2023 by the UN, he said.
Earlier interacting with the farmers, students and scientists at the Indian Institute of Horticulture Research in Bengaluru, Munda said there was a lot of potential for the development of the horticulture sector in the country.
Horticulture’s share in the agriculture economy is 33 per cent, which can be further increased and has great potential, Munda said. He asked the farmers to adopt best practices and aim at produce at par with the international standards, so that their produce can compete in the international markets. Munda asked to the scientists to bring more and more farmers to their laboratories and share the latest research techniques to them, which will help them increase productivity, yield and income in a sustainable manner.
Source:
thehindubusinessline.com
08 Jan, 2024
Optimistic about $2 trillion export target by 2030, says Piyush Goyal.
Union Commerce and Industry Minister Piyush Goyal on Saturday expressed optimism that the country will meet its ambitious USD 2 trillion export target by 2030, notwithstanding geopolitical headwinds and inflationary concerns.
Speaking at the inauguration of the Patsan Bhavan, which houses the Jute Commissioner's office and headquarters of Jute Corporation of India and National Jute Board, in New Town, Kolkata, Goyal acknowledged the challenging global situation.
He cited the Ukraine war, the Israel conflict and issues related to the Red Sea as factors impacting trade.
'To address low food grain production and curb domestic inflation, we have implemented restrictions. However, despite all these challenges, India's exports will continue to grow, aiming at reaching USD 2 trillion by 2030 from the current USD 770-775 billion,' Goyal said.
He highlighted the potential of the jute industry, stating that with 'contribution from the jute sector and concerted efforts from the Centre and state governments, we can achieve new heights'.
India currently exports around Rs 1,500 crore worth of jute.
Goyal, who also holds the portfolios of textiles and consumer affairs, food and public distribution, urged industry players to increase the figure.
He also asked the jute sector to showcase products at the upcoming Bharat Tex 2024, the world's biggest-ever textiles event, to be organised from February 26-29 in New Delhi.
Goyal also highlighted the achievements of the central government and appealed to the people of West Bengal for their support in the upcoming general elections.
Source:
business-standard.com
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