The global organic market is experiencing a remarkable surge. This is driven by increasing consumer awareness and growing demand for healthier and sustainable food options. In India as well the organic food sector is witnessing a significant shift in preferences. Consumers are seeking products that align with principles of sustainability, mindfulness and environmental consciousness.

 

The ready-to-eat (RTE) sector is witnessing a surge in demand for food that is convenient, organic, and nutritious. India holds a special place among the 187 nations that practice organic agriculture, With 9.12 million acres, India is home to 30 per cent of all organic producers globally. With the increase in demand for organic produce, there is a need for a robust system to validate and guarantee the authenticity of organic products. This is where certifications come in. Certifications ensure transparency and authenticity.

 

Consumers turn health conscious

India’s organic market has witnessed growth especially post-pandemic. Consumers, primarily in the urban landscape have become more health-conscious and environmentally aware. Despite the promising trajectory, the Indian organic market faces challenges. There is a considerable gap in awareness and understanding of organic farming practices among consumers. Additionally, con-cerns about the authenticity of organic products persist. Certifications help in overcoming these challenges.

 

Here’s how

• Trust building - Certification plays a pivotal role in the organic market. They act as a quality assurance mechanism for consumers and a market differentiator for producers. It serves as a guarantee that agricultural products meet stringent organic standards, assuring consumers of adherence to environmentally friendly and sustainable practices. Certification fosters trust in the organic label, empowering consumers to make informed choices.

 

Awareness

Several certifications contribute to the credibility of organic products in India. The India Organic certification, USDA Organic, and Jaivik Bharat are among the prominent standards. In a survey conducted by Rakuten Insight about the awareness among Indian consumers regarding various certifications of organic food products in September 2023, India Organic was the certification that most respondents were aware of, accounting for 74 per cent followed by the EU Certified Organic food label accounting for approximately 30 per cent of the respondents.

 

• Lucrative opportunities - For producers, organic certification opens access to a lucrative market, as consumers increasingly prioritize health and sustainability. In the financial year 2020, the organic packaged food market size was about 11 billion Indian rupees in India. It is projected to increase to 30 billion Indian rupees in the fiscal year 2030. Consumers are willing to pay a premium for certified organic products and that is a key driver of market growth. The certifications not only cater to the domestic market but also enhance export opportunities for organic produce.

 

• Standardisation - The global comparison of certification standards is crucial for the harmonisation of organic trade. Collaboration between certification bodies worldwide and the recognition of certifications on the global stage contribute to establishing a consistent framework. Ultimately, certification not only ensures the integrity of organic products but also plays a vital role in shaping consumer perceptions and driving the growth of the organic market.

 

Challenges in the ecosystem

While the certifications stand as a hallmark for organic produce, it is important to also note that the certification ecosystem faces some challenges.

 

1. Certifications may be difficult for small scale producers: the rigorous upkeep of certifications poses challenges, particularly for small community farmers. For many, the adminis-trative burdens and costs involved make it a formidable endeavour.

 

2. Organic is no necessarily healthy: It’s crucial for consumers to recognise that the ‘organic’ label doesn’t automatically translate to ‘healthy.’ Despite the genuine efforts of most organic producers, the commercial value of the term often attracts individuals seeking financial gain rather than sustainable practices. Loopholes in certification may allow for the inclusion of additives that compromise the integrity of organic products. A certified organic label, unfortunately, doesn’t guarantee a completely organic or wholesome product. For instance, mayonnaise has oil and egg as the main ingredients. While both can be organic but mayonnaise is not necessarily healthy. Therefore, it is important for consumers to ensure mindful eating.

 

3. Certifications need additional support: In India, the certification process requires addi-tional support to align with the ethos of organic farming, urging a collective effort to refine the system. Organic certification, though a regulated process, faces scrutiny regarding its ability to reflect the overall health of the land. While it ensures the absence of synthetic fertilizers and pesticides, it doesn’t inherently convey improvements in land health. The debate over the ade-quacy of organic designations prompts contemplation on the broader vision of organic farming, transcending mere certifications to uphold the well-being of animals, plants, and humans.

 

Certifications are important because they foster trust among consumers, and ensure transparency, paving the way for a positive impact on the sector’s growth. However, the potential pitfalls and the need for continued improvement need to be addressed to ensure unparalleled growth of the sector in India.

The path of dairy products from farm to table is a complicated process which comprises several steps, each of which is crucial in assuring the end product’s quality and safety. Ghee is a clarified butter with a rich, nutty flavour that is widely used in various cuisines across the world. However, the journey from farm to the consumer’s table is not as straightforward as it seems. There have been recent reports of ghee adulteration in the dairy supply chain. This article goes into the complicated nature of ghee manufacturing, discusses impurity risks, and emphasises the significance of accountability in assuring a pure and authentic product.

 

Production process

The ghee processing journey starts on a dairy farm, where cows or buffaloes are kept for milk production. The quality of milk is an important aspect in deciding the ultimate quality of ghee. Dairy farmers have an important role in ensuring the health and well-being of their animals, as the nutritional content of milk is directly determined by the animals’ food and living conditions.

 

Once the milk is collected, it is put through several procedures to be converted into ghee. The initial procedure is to separate the cream from the milk, mainly done by a machine. Following that, the cream is stirred to separate the butter from buttermilk. The collected butter is next clarified by heating, resulting in the creation of ghee. This approach has traditionally been straightforward and pure, but current industrial practices have included possible areas of adulteration.

 

Data from the Food Safety and Standards Authority of India (FSSAI) reveal that nearly 15 per cent of ghee samples collected from processing plants were found to be adulterated, with the addition of vegetable oils and fats being the most common form of adulteration.

 

Risks of adulteration

One of the key challenges in ghee production is the adulteration of the product with low-quality oils or fats. Fraudulent manufacturers mix ghee with less expensive alternatives, such as vegetable oils or animal fats, to boost their profit margins. This not only reduces the nutritional content of the ghee but also puts customers’ health in danger.

 

According to a recent survey conducted by the International Dairy Federation, approximately 10 per cent of dairy farmers engage in such adulteration practices, leading to a significant reduction in the quality of milk used for ghee production.

 

Substandard raw materials and bad manufacturing practices can introduce pollutants into the ghee, such as herbicides, antibiotics, and heavy metals. Furthermore, a lack of hygiene and quality control procedures in some manufacturing facilities might result in microbial contamination, putting the finished product’s safety at risk.

 

Value of traceability

To address these issues, traceability becomes an essential component in ensuring ghee’s authenticity and quality. Traceability is the process of tracking a product’s route from its origin to the end customer. Traceability in the context of ghee production begins at the dairy farm and continues through every level of the manufacturing process.

 

Traceability procedures enable companies and regulatory agencies to monitor and verify the provenance of raw materials, production methods, and distribution networks. Being transparent not only aids in the prevention of adulteration but also allows for the rapid detection and recall of tainted items, protecting consumer health.

 

Economic consequences

Ghee adulteration has both health and economic repercussions. The dairy business is critical to the global economy, and any compromise in product quality can lead to a loss of customer trust. According to World Dairy Organisation research, the economic effect of ghee adulteration is estimated to be billions of dollars per year, taking into account both direct losses in the dairy sector and indirect losses in adjacent businesses.

 

Consumer awareness and regulatory measures

Governments and regulatory agencies have a critical role in reducing the hazards of ghee adulteration. Establishing and implementing rigorous quality standards, inspecting manufacturing facilities regularly, and applying harsh fines for noncompliance are critical measures in preserving the dairy industry’s integrity. The FSSAI in India, for instance, has implemented stringent regulations and increased surveillance to curb malpractices in the dairy industry.

 

Consumers can also avoid ghee adulteration by learning more and making informed decisions. An increased understanding of manufacturing methods, quality standards, and the need to purchase from the right sources helps customers make educated decisions that prioritise their health and support responsible producers. Educating consumers about the characteristics of pure ghee, such as its aroma, color, and consistency, can empower them to make informed choices. Furthermore, advocacy campaigns led by non-governmental organizations are playing a vital role in spreading awareness about the importance of supporting ethical and transparent dairy practices.

 

In conclusion, from farm to table, the journey of ghee involves multiple stages where adulteration can occur, posing risks to consumer health and economic stability. By understanding the challenges at each step and implementing effective regulatory measures, we can safeguard the integrity of this beloved dairy product. Consumer awareness is equally pivotal in ensuring that individuals make informed choices and support the production of pure, unadulterated ghee. As we navigate the complexities of the dairy industry, a collective effort is needed to preserve the authenticity of ghee and uphold the trust consumers place in this time-honored culinary treasure.

Switzerland's Ambassador to India, Ralf Heckner, has expressed optimism that the crucial European Free Trade Association (EFTA) deal with the country would be wrapped up before the 2024 general elections. Heckner stressed on the importance of the proposed trade deal for unlocking innovation and investment opportunities.

 

'Both sides have been negotiating very closely and seriously over the last more than 12 months. I remain positive that the deal would be wrapped up before the (2024) elections,' he told PTI.

 

The envoy was recently in the city to unveil the Kolkata chapter of the Swiss-India Chamber of Commerce.

 

Parliamentary elections in India are due in early 2024.

 

'If India wants innovation, it needs to work with about 12 to 15 countries, and one of those countries is Switzerland for a world of investments and innovation,'

 

'We will have a more strategic innovation relationship with India,' Heckner stated.

 

Noting the sharp rise in visa application processing numbers, which hit a record 2 lakh in 2023 compared to pre-COVID levels of 1.6-1.7 lakh, he said this trend would lead to enhanced trade and cultural ties between India and Switzerland in the years ahead.

 

The EFTA-India merchandise trade exceeded USD 6.1 billion in 2022.

 

The EFTA members include Iceland, Liechtenstein, Norway and Switzerland.

The global organic market is experiencing a remarkable surge. This is driven by increasing consumer awareness and growing demand for healthier and sustainable food options. In India as well the organic food sector is witnessing a significant shift in preferences. Consumers are seeking products that align with principles of sustainability, mindfulness and environmental consciousness.

 

The ready-to-eat (RTE) sector is witnessing a surge in demand for food that is convenient, organic, and nutritious. India holds a special place among the 187 nations that practice organic agriculture, With 9.12 million acres, India is home to 30 per cent of all organic producers globally. With the increase in demand for organic produce, there is a need for a robust system to validate and guarantee the authenticity of organic products. This is where certifications come in. Certifications ensure transparency and authenticity.

 

Consumers turn health conscious

India’s organic market has witnessed growth especially post-pandemic. Consumers, primarily in the urban landscape have become more health-conscious and environmentally aware. Despite the promising trajectory, the Indian organic market faces challenges. There is a considerable gap in awareness and understanding of organic farming practices among consumers. Additionally, con-cerns about the authenticity of organic products persist. Certifications help in overcoming these challenges.

 

Here’s how

• Trust building - Certification plays a pivotal role in the organic market. They act as a quality assurance mechanism for consumers and a market differentiator for producers. It serves as a guarantee that agricultural products meet stringent organic standards, assuring consumers of adherence to environmentally friendly and sustainable practices. Certification fosters trust in the organic label, empowering consumers to make informed choices.

 

Awareness

Several certifications contribute to the credibility of organic products in India. The India Organic certification, USDA Organic, and Jaivik Bharat are among the prominent standards. In a survey conducted by Rakuten Insight about the awareness among Indian consumers regarding various certifications of organic food products in September 2023, India Organic was the certification that most respondents were aware of, accounting for 74 per cent followed by the EU Certified Organic food label accounting for approximately 30 per cent of the respondents.

 

• Lucrative opportunities - For producers, organic certification opens access to a lucrative market, as consumers increasingly prioritize health and sustainability. In the financial year 2020, the organic packaged food market size was about 11 billion Indian rupees in India. It is projected to increase to 30 billion Indian rupees in the fiscal year 2030. Consumers are willing to pay a premium for certified organic products and that is a key driver of market growth. The certifications not only cater to the domestic market but also enhance export opportunities for organic produce.

 

• Standardisation - The global comparison of certification standards is crucial for the harmonisation of organic trade. Collaboration between certification bodies worldwide and the recognition of certifications on the global stage contribute to establishing a consistent framework. Ultimately, certification not only ensures the integrity of organic products but also plays a vital role in shaping consumer perceptions and driving the growth of the organic market.

 

Challenges in the ecosystem

While the certifications stand as a hallmark for organic produce, it is important to also note that the certification ecosystem faces some challenges.

 

1. Certifications may be difficult for small scale producers: the rigorous upkeep of certifications poses challenges, particularly for small community farmers. For many, the adminis-trative burdens and costs involved make it a formidable endeavour.

 

2. Organic is no necessarily healthy: It’s crucial for consumers to recognise that the ‘organic’ label doesn’t automatically translate to ‘healthy.’ Despite the genuine efforts of most organic producers, the commercial value of the term often attracts individuals seeking financial gain rather than sustainable practices. Loopholes in certification may allow for the inclusion of additives that compromise the integrity of organic products. A certified organic label, unfortunately, doesn’t guarantee a completely organic or wholesome product. For instance, mayonnaise has oil and egg as the main ingredients. While both can be organic but mayonnaise is not necessarily healthy. Therefore, it is important for consumers to ensure mindful eating.

 

3. Certifications need additional support: In India, the certification process requires addi-tional support to align with the ethos of organic farming, urging a collective effort to refine the system. Organic certification, though a regulated process, faces scrutiny regarding its ability to reflect the overall health of the land. While it ensures the absence of synthetic fertilizers and pesticides, it doesn’t inherently convey improvements in land health. The debate over the ade-quacy of organic designations prompts contemplation on the broader vision of organic farming, transcending mere certifications to uphold the well-being of animals, plants, and humans.

 

Certifications are important because they foster trust among consumers, and ensure transparency, paving the way for a positive impact on the sector’s growth. However, the potential pitfalls and the need for continued improvement need to be addressed to ensure unparalleled growth of the sector in India.

India on Friday removed the minimum import price for yellow peas and allowed shipments duty-free until March 31, 2024, to boost the supply of pulses and keep prices under check.

 

'Import of Yellow Peas… is 'Free' subject to registration under the Import Monitoring system with immediate effect for the period up to March 31, 2024,' the Directorate-General of Foreign Trade (DGFT) said in a notification.

 

MIP condition and port restrictions shall also not apply ot such Yellow Peas imports till then.

 

India imported $0.14 million worth yellow peas in FY23- all from Russia.

 

Till now, Yellow Peas imports were restricted and the import required an annual quota, MIP of Rs 200 and above CIF per kilogram, and restriction to Kolkata Sea port. Import restrictions did not apply to government commitments under bilateral or regional agreements or Memoranda of Understanding.

 

'All Yellow Peas imports until March 31, 2024, require compulsory registration under the Import Monitoring System. Procedures for prior registration of Yellow Peas consignments will be separately notified,' DGFT said.

 

As per the notification, import consignments with customs out-of-charge issued after March 31, 2024, will not enjoy the 'Free' status. Starting April 1, 2024, the previous 'Restricted' import policy and associated conditions would be reinstated, it said.

Invest India, the National Investment Promotion and Facilitation Agency of the Government of India, and the current President of the World Association of Investment Promotion Agencies (WAIPA), under the aegis of the Department for Promotion of Industry and Internal Trade (DPIIT), is set to host the 27th World Investment Conference (WIC) from December 11-14, 2023, at the India International Convention & Expo Centre - Yashobhoomi, New Delhi. This year’s conference is themed "Empowering Investors: IPAs Pioneering Future Growth".

 

Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution, and Textiles, Shri Piyush Goyal on the main day of the conference on December 13, 2023, will deliver the keynote address on the Role of Trade and Investment in the Decade of Action. The Minister will also chair a closed-room roundtable of Private Equity.

 

Shri Goyal will also launch the Experience India Centre (EIC), showcasing the best of India’s offerings across services, technology, and products through a variety of technologies, including virtual reality, augmented reality, interactive touch screens, and projection mapping. EIC will provide delegates and participants from around the world an opportunity to engage and interact with some of India’s leading startups, and learn about India's rich products, services and tourism offerings, experience its vibrant culture through an immersive experience like Touch/Feel, Taste, Smell, Vision, Sound, and other self-exploratory means. The startups represent India’s emerging indigenous capabilities and its emerging global leadership. The wall Bharat Today and the Living Traditions will exhibit traditions like Madhubani, Katha, Warli, Mata ni pachedi etc.

 

WIC, an annual flagship event of WAIPA, serves as a platform for global investment promotion and innovation stakeholders. This year, the conference brings together Investment Promotion Agencies (IPAs), international organisations, academia, and the private sector, including startups, to discuss investment policies and trends, providing a unique opportunity for collaboration, trade, investments and knowledge sharing.

 

Spanning over four days, the WIC is set to be the largest WIC ever, with participation from more than 1000 attendees, over 50 IPAs and various multilateral agencies. Some of the marquee sessions include a Meeting of ‘IPAs of G20 Nations’ and IPAs of G20 Compendium on Sustainable FDI, Meeting of World Investment for Development Alliance (WIDA), a coalition of 13 multilateral organisations including UNCTAD, WEF, WBG, UNESCAP and WAIPA, and a roundtable on 'The India Opportunity: Investing in an Emerging Economy Poised for a Fast-Track Growth. Invest India may also release white papers on key topics such as E-Commerce, Electronics, Sustainable textiles and Responsible AI.

 

Apart from hosting international speakers, WIC will also host speakers such as Secretary, DPIIT, Shri Rajesh Kumar Singh; Secretary, Department of Commerce, Shri Sunil Barthwal; Director General, International Solar Alliance, Dr. Ajay Mathur; CEO, 3rdiTech, Ms. Vrinda Kapoor; Founder and CEO, Paytm, Shri Vijay Shekhar Sharma; and Founder and Executive Vice Chairman, Info Edge, Shri Sanjay Bikhchandani, among others. Representatives from MNCs like DP World, IKEA, Wipro, Equinor, and Arduino will also attend the Conference. Trade and investment ministers from Saudi Arabia, Armenia and Togo are also expected to address the conference. The Conference will also host 'The Startup-Investor Connect program', which is designed to offer Venture capital funds and International Startups from various sectors a platform to connect on the following one or multiple opportunities with the aim of facilitating funding and showcasing cutting-edge innovation.

 

Aligned with the overarching theme, the WIC will feature parallel sessions focusing on Agri-Food Processing, Energy/Infrastructure, Tourism, Automotive & Machinery, ICT/Technology, and Life Sciences. These sessions will provide a detailed exploration of investment opportunities and trends within each sector across participating countries and select Indian States. During this Conference, India will also showcase key initiatives like Make in India, PM Gati Shakti, and other steps taken towards ensuring ease of doing business.

 

The World Association of Investment Promotion Agencies was created in 1995 in Geneva, as a non-governmental organization. Its mission is to empower and support investment promotion agencies in the important work they do to develop their economies; to be a voice for IPAs internationally; and to serve as a bridge between the public and private sectors. The association has more than 120 member agencies representing more than 100 countries.

As part of Atmanirbhar Bharat Abhiyan, Ministry of Food Processing Industries (MoFPI) is implementing a centrally sponsored 'PM Formalisation of Micro food processing Enterprises (PMFME) Scheme' for providing financial, technical and business support for setting up / upgradation of micro food processing enterprises in the country. The scheme is operational for a period of five years from 2020-21 to 2024-25 with an outlay of Rs. 10,000 Crore for supporting 2 lakh micro food processing enterprises.

 

To promote the local products in the food processing sector, the PMFME Scheme primarily adopts One District One Product (ODOP) approach to reap the benefit of scale in terms of procurement of inputs, availing common services and marketing of products. It provides the framework for value chain development and alignment of support infrastructure. Further, under Branding and Marketing component of the Scheme, support is provided to FPOs (Farmer Producer Organizations)/ Self-Help Groups (SHGs) / Cooperatives or Special Purpose Vehicle (SPV) of ODOP based micro food processing enterprises for Market Study and Product Standardization, Packaging Material, Quality Control and food safety adherence for consumer retail sales, Warehousing and Storage Rentals, Marketing and Promotion.

 

Under the credit linked subsidy component of the PMFME Scheme, 62,282 loans have been sanctioned till date including 61,796 individual beneficiaries, 34 Farmers Producers Organizations (FPOs), 433 Self Help Groups (SHGs) and 19 Producer Co-operative Societies. The State-wise details of loan sanctioned are at Annexure-I.

ANNEXURE-I

State-wise details of loan sanctioned under PMFME Scheme till date

S.No	States and UTs	Individual Beneficiaries	Farmer Producer Companies (FPCs/FPOs)	Self Help Groups (SHGs)	Cooperative Societies	Total number of loans Sanctioned
1	Andaman And Nicobar Islands	16				16
2	Andhra Pradesh	4398				4398
3	Arunachal Pradesh	33		6		39
4	Assam	1016				1016
5	Bihar	8876	2	176	3	9057
6	Chandigarh	5				5
7	pib.gov.in
11 Dec, 2023 1132 projects approved under Pradhan Mantri Kisan Sampada Yojana (PMKSY) in 36 states/UTs with total project cost of Rs 23071.29 crore to create processing capacity of 252.297 lakh MT/annum providing benefits to more than 38 lakh farmers. The Ministry of Food Processing Industries (MoFPI) has been implementing an umbrella scheme- Pradhan Mantri Kisan Sampada Yojana (PMKSY) since 2017-18 across the country. PMKSY is a comprehensive package of component schemes, which is aimed at creation of modern infrastructure with efficient supply chain management from farm gate to retail outlet. It provides a big boost to the growth of food processing sector in the country, helps in providing better prices to farmers, creates huge employment opportunities especially in the rural areas, reduces wastage of agricultural produce, increases the processing level and enhances the export of the processed foods. Under the following component schemes, financial support in the form of grants-in-aid is provided for setting up of food processing projects across the country:   (i) Mega Food Parks scheme (MFP) (discontinued w.e.f. 01.04.2021)   (ii) Integrated Cold Chain and Value Addition infrastructure (Cold Chain)   (iii) Creation of Infrastructure for Agro Processing Cluster (APC)   (iv) Creation/ Expansion of Food Processing and Preservation Capacities (CEFPPC)   (v) Creation of Backward and Forward Linkages (CBFL) (discontinued w.e.f. 01.04.2021)   (vi) Operation Greens(OG): Long Term Interventions   (vii) Food Safety and Quality Assurance Infrastructure – Setting up / Up gradation of quality control/ food testing laboratories (FTL)   (viii) Human Resource & Institutions (HRI)   A total of 1132 projects for food processing have been approved in the 36 states/UTs with total project cost of ?23071.29 crores, with the aim to create processing capacity of 252.297 lakh MT/annum, preservation capacity of 42.908 lakh MT/annum, employment of 602070 persons and providing benefits to 3819220 farmers.   The sub scheme wise financial details are provided at Annexure.   The details of physical targets proposed by the Ministry for the 15th Finance Commission Cycle period (2021 - 26) and achievements made as on date under various component schemes of PMKSY are as under: S.No. Component scheme of PMKSY Project in numbers                                                                                  Proposed Achievement 1. Mega Food Parks scheme Discontinued w.e.f. 01.04.2021 2. Cold Chain scheme 30 43 3. APC scheme 30 29 4. CEFPPC scheme 162 242 5. CBFL scheme Discontinued w.e.f. 01.04.2021 6. OG scheme 80 47 7. FTL scheme 25 22 8. HRI – R&D scheme 100 -   The Ministry is regularly reviewing the projects with Project Implementing Agencies and Project Management Agencies (PMAs) to speed up the process of release. Release of funds is made in respect of the claims submitted by the projects on achievement of the respective milestones stipulated for them.   ANNEXURE Details of fund allocated / grants-in-aid released under various component schemes of PMKSY from 2017-18 to 2023-24 (till 30.11.2023)                                                                                                ? in crore S. No. Sub-Scheme of PMKSY Financial Year Fund Allocated Grants in aid released 1     pib.gov.in 11 Dec, 2023 India seeks to settle WTO import duty dispute with EU on ICT goods through free trade talks. India seeks to resolve a WTO import duty dispute with the European Union on certain information and technology products through the proposed free trade agreement, which is under active negotiations, an official said. Following a ruling of the World Trade Organisation's (WTO) dispute panel on April 17 that import duties imposed by India on certain information and technology (ICT) products such as mobile phones and components, base stations, integrated circuits and optical instruments violate global trading norms, India and the European Union (EU) are discussing ways to resolve the matter amicably outside the ambit of the WTO.   As part of the discussion, the EU has sought duty concessions from India on these goods as it was violative of the global trade norms, but India has stated that it would be again a breach of WTO rules, if the concessions be extended only to the EU, the official said.   'They are seeking duty concessions, which according to India can be discussed only under the free trade agreement (FTA). India can consider something under the FTA, but not on MFN (most favoured nation) basis,' the official added.   Under the MFN basis, a WTO member country can not give import duty concessions of goods only to one country or region as it would be a violation of global trade rules.   All the 164 members of the Geneva-based multi-lateral body have to provide equal/national treatment to each other by extending MFN status.   For India, cutting duties on these items would be difficult as the government is focusing on boosting domestic manufacturing of electronic goods to reduce imports.   A production-linked incentive scheme has been launched to support the manufacturing of different IT hardware products in the country.   Imports of electronic goods rose by 11.63 per cent to USD 51.4 billion during April-October this fiscal.   The European Union and Chinese Taipei both have requested the World Trade Organisation's dispute settlement body not to adopt the panel's ruling against India with regard to an ICT duty dispute to enable the countries to resolve the issue mutually.   On April 2, 2019, the EU challenged the introduction of import duties by India at WTO on a wide range of ICT products like mobile phones and components, base stations, integrated circuits and optical instruments.   The EU had claimed that the measures appear to be inconsistent with certain provisions of WTO. Later, Chinese Taipei and Japan joined the dispute.   Since Japan has filed its motion for the adoption of the panel's report at Dispute Settlement Body (DSB) meeting at WTO, India, in response, filed its notice of appeal in the WTO's appellate body.   Interestingly, the appellate body is not functioning because of differences among member countries over the appointment of its members. Several disputes are already pending with this body. The US has been blocking the appointment of the members.   According to the EU, India has been applying duties ranging from 7.5 per cent to 20 per cent and the levies affect EU exports worth Euro 600 million per year.   In October 2018, India hiked import duty on certain communication items, including base stations, to up to 20 per cent as part of efforts to check a widening current account deficit by curbing imports and boosting domestic manufacturing. India has recently resolved all the trade disputes of the WTO with the US through mutually agreed solutions.    Source:  economictimes.indiatimes.com 11 Dec, 2023 PM Rishi Sunak's officials in Delhi to discuss India-UK FTA: Report. London, Senior officials from British Prime Minister Rishi Sunak's team are in New Delhi this week to add momentum behind the ongoing round of negotiations for an India-UK free trade agreement (FTA), according to a UK media report on Saturday.   'The Guardian' newspaper reports that while there is no official comment from either side on such a visit, Prime Minister Narendra Modi-led government is keen to finalise the FTA by the end of February before Modi sets off on an expected general election campaign trail.   Both countries are heading into an election year in 2024 and signing off on a trade agreement with India will bolster Sunak's electoral pitch to voters showing signs of anti-incumbency towards his governing Conservatives.   'The deal is still very much on and we think it is possible before both countries have their elections. Both sides are keen to get this done,' an official close to the talks told the newspaper.   The India-UK FTA talks began in January last year with Diwali 2022 set as the initial deadline by then prime minister Boris Johnson.   There have been 13 rounds of negotiations since then, with the Sunak-led Tory government wary of setting any firm new timelines to clinch a deal that is expected to significantly enhance the GBP 36-billion bilateral trading partnership.   'The UK and India continue to work towards an ambitious trade deal that works for both countries. We have always been clear we will only sign a deal that is fair, balanced, and ultimately in the best interests of the British people and the economy,' said a spokesperson for the Department for Business and Trade (DBT), reiterating the official UK government line.   Most recently, External Affairs Minister (EAM) S. Jaishankar confirmed that the FTA was among the many topics on the agenda during his visit to the UK last month and expressed confidence that both sides would find a 'landing point that works for both of us'.   'We have made substantial progress... I think both sides are very aware of the importance of the FTA and will make the utmost effort to get there. So, we have to take it as it happens,' Jaishankar told reporters after he met with Sunak and other senior Cabinet ministers.   The minister also discussed the FTA negotiations with UK Opposition leaders in meetings with Labour leader Keir Starmer and shadow foreign secretary David Lammy during his November visit.   There had been some speculation that cricket enthusiast Sunak would be following up his first India visit as UK prime minister for the G20 Summit in September with some cricket diplomacy at the England versus India World Cup clash in Lucknow on October 29 - when the highly anticipated FTA could be signed off.   However, the internal political turmoil of a Cabinet reshuffle within the Tory party and the Israel-Hamas conflict on the global front were said to have side-tracked focus.   'We are very close...We will finish when we finish,' UK Business and Trade Secretary Kemi Badenoch told a House of Commons committee when questioned about timelines recently.   Meanwhile, her Indian counterpart, Union Minister for Commerce and Industry Piyush Goyal has indicated that nearly 20 of the 26 chapters have been closed.   India is demanding greater access for its skilled professionals from sectors like IT, and healthcare in the UK market, besides market access for several goods at nil customs duties.   On the other hand, the UK is seeking a significant cut in import duties on goods such as scotch whiskey, automobiles, lamb meat, chocolates and certain confectionary items.   Britain is also looking for more opportunities for UK services in Indian markets in segments like telecommunications, legal and financial services (banking and insurance).  Source:  economictimes.indiatimes.com Back to First Prev … 257 258 259 260 261 262 263 264 265 266 … Next Go to Last