Every June, French shipping major CMA CGM resumes its fortnightly Bijagos Shuttle container service (for three to four months), connecting by sea the small West African tropical country of Guinea-Bissau with Spain’s Algeciras (about 3,500 km).

 

So what? One may ask in India. This dedicated sea container service exports huge quantities of cashew from Guinea-Bissau to India and Vietnam. In 2022, Guinea-Bissau exported 2,31,000 tonnes of raw cashew nuts.

 

CMA-CGM said the dedicated service to Asia will be run from Bissau port to Algeciras on a fortnightly frequency from mid-June 2023 to the end of the cashew season.

 

The Bijagos Shuttle service will be fully operated by CMA CGM by deploying two vessels of 1,700 TEU (twenty-foot equivalent unit). The first vessel will be LION to leave Bissau on June 24. A substantial stock of 40’ containers is available in Bissau, the line said.

 

This unique product (service) is during the seasonal export of cashews from Bissau to India and Vietnam. The line said it has dedicated hubs in Mundra, Port Klang and Singapore.

 

Once the smaller shuttle service reaches Algeciras, the containers with cashews will be transferred to mainline ships (large vessels offering direct service to various global destinations) in the westbound EPIC Europe Pakistan India Consortium (EPIC) service to reach the ports of Jebel Ali, Khalifa Port; Karachi; Nhava Sheva and Mundra.

 

Other major shipping lines like Maersk and MSC also provide various transportation modes, including multimodal, to export cashew from Guinea-Bissau to India.

 

A businessline report in November 2022 said cashew is by far the most important cash crop in Guinea-Bissau, representing 60 per cent of the country’s exports. It is the main source of income in rural areas. The estimated area under cashew cultivation is 223,000 hectares with an annual production of 230,000 tonnes, making Guinea-Bissau the fifth largest producer in the world. Most cashew nuts produced in Guinea-Bissau are exported to India for processing.

 

The report said Beta Group, the Kerala-based food company, which owns the Nut King brand, will set up an industrial unit in the West African country of Guinea-Bissau for the cashew business. It then announced $100 million in that country over five years.

 

Guinea Bissau exported 2,31,000 tonnes of raw cashew in 2022 and of this around 75 per cent to India and the balance to Vietnam, says Rajmohan Pillai, Chairman of the Thiruvanthapuram-based Beta Group, owners of Nut King brand.

 

According to India-Guinea Bissau Bilateral Relations document released by the Ministry of Economic Affairs in 2021, cashew crop accounts for more than 90 per cent of export earnings of Guinea-Bissau and almost the entire cashew crop (around 98 per cent) is exported to India for processing.

Geographical Indication (GI) tagged juicy and aromatic Banarasi Langra mango will soon fly directly from the newly built pack house in Varanasi to Sharjah. Uttar Pradesh Chief Minister Yogi Adityanath will flag off a perishable food product prepared according to international standards and send it abroad for the first time.

The government is making efforts to turn farmer entrepreneurs into exporters by eliminating middlemen from their businesses. It will increase farmers’ income. In order to achieve this, the Agricultural and Processed Food Products Export Development Authority (APEDA) is working nonstop.

There will be single window clearance for export from pack houses. Here, perishable food items will be prepared in accordance with global standards. The pack house is accredited by APEDA for export as per international standards.

Uttar Pradesh Chief Minister Yogi Adityanath will give a big gift to the ‘annadata’ farmers of Purvanchal on June 26. Vegetables and fruits of Purvanchal will now be exported directly from the pack house in Varanasi. Perishable food products will be prepared in the pack house according to international standards.

Pack house has been completed in about 4461 square feet area at a cost of Rs 15.78 crore. Here, farmer entrepreneurs will also be given training to prepare products according to the demands of the international market. This will be the third integrated pack house in Uttar Pradesh after Saharanpur and Lucknow.

APEDA’s Deputy General Manager Dr CB Singh stated here on Saturday that the CM will flag off the first shipment of four to five metric tonnes of Banarasi Langra mangoes and other products from Varanasi airport to Sharjah.

Dr CB Singh, Deputy General Manager, APEDA, stated that in order to produce a product of an international standard, fruits and vegetables must go through a number of processes in the integrated pack house. Because of this, their flavour, freshness, and other qualities remain unaltered.

India has said the existing global trade rules do not adequately address market failures such as food hoarding and market speculation that drive up food prices and inflation during crises.

 

At a meeting of the Committee on Agriculture last week, India agreed with the 44-member African Group, which proposed to provide flexibilities to developing countries facing food insecurity crises to subsidise farmers beyond the minimal amount of subsidies allowed at the World Trade Organization (WTO), called ‘de minimis’ in trade parlance.

 

'India agreed that providing some flexibility to developing countries to exceed de minimis limits could be useful during a food insecurity crisis,' said a Geneva-based official, who did not wish to be identified. The de minimis level for India and developing countries is 10% of value of food production and 5% for developed countries.

 

'India also reiterated its stance on reducing aggregate measurement support beyond de minimis – which, at present, only 32 members are entitled to – before addressing other types of support,' said the official.

 

India, China and South Africa, along with five others, emphasised the urgency of starting text-based negotiations on the need to find a permanent solution on public stockholding for food security as soon as possible due to the limited time remaining before MC13, which is to be held next year.

 

The proposal, now supported by two-thirds of WTO members, should serve as the basis for negotiation, they argued and asked those opposing the proposal to refrain from repeating old questions. As per the proposal, a permanent solution for public stockholding should account for inflation and also be based on a recent reference price instead of an old one, which is based on 1986-88 prices.

 

India’s representative cited the country’s successful efforts to eliminate hunger domestically and provide food assistance to other countries such as Sri Lanka during the food crisis, as per the official.

Before chief minister Yogi Adityanath flags off the first consignment of mango and green chilli packed at Kashi's Integrated Pack House (IPH) for export to Gulf countries, the figures of export of agriculture and horticulture products reveal that east UP has emerged as a major hub of agri export.

 

Since the time IPH became functional after inauguration by PM Narendra Modi on March 24, Varanasi's export has risen from 4 metric tonnes in 2020-21 to 561 MT in 2022-23, ensuring growth of 420%. Lucknow, which had export figure of 111.47 MT in 2020-21 had exported 703.30 MT of agri products in 2022-23 and its growth percentage was 6%.

 

Busy in preparations for the flagging off ceremony at IPH in Karkhiyao area on Sunday, the Agricultural and Processed Food Products Export Development Authority (APEDA) deputy general manager CB Singh said, 'After IPH's inauguration by the PM, process to operationalise it has been intensified in Varanasi in order to achieve the goal of developing east UP as a hub of export of agriculture and horticulture products.'

 

He said, 'With flagging off by the CM, the IPH Varanasi packed first consignments of mango and green chilli will leave for markets of Gulf, including Dubai and Doha via air and sea routes, respectively.'

Recalling the journey of ma king East UP region a hub of agri export, Singh said, 'Till 2019, there was nil export of agri cargo from Varanasi airport and negligible export from Lucknow airport. Now, flights are fully loaded with agri air cargo at Varanasi and Lucknow.'

 

Highlighting the trend of growth in export of agri products from international airports of UP, he said, 'In 2019-20 Lucknow had exported 99 MT of green vegetables and mangos while export from Varanasi was nil. In 2020-21 Lucknow exported 111.47 MT while only four MT vegetables were exportedfrom Varanasi. I n 2021-22 export of these agri and horticulture produces from Lucknow was 661.50 MT and Varanasi exported 157 MT. In 2022-23 Lucknow’s export was recorded as 703.30 MT while Varanasi’s export figures jumped to 561 MT.'

'The growth percentage of agri export from Varanasi airport in 2022-23 was 420% compared to 2021-22 figures while this growth at Lucknow airport was 6%', said Singh adding that between April and Jun this year Varanasi’s export figure was 120.5 MT while Lucknow has exported 169.9 MT of agri products. He also referred the measures initiated to achieve the goal of developing East UP as an export hub by making Varanasi its centre. The IPH established here fulfils requirements of international standard, which i s a must, especially for exporting agri products to European Union, Japan and Korea.

India is in negotiations with Brazil to resolve a sugar dispute at the World Trade Organisation (WTO) and the commerce ministry is coordinating with concerned departments for the same, government sources said. India is also following a similar process for other complainants of the sugar dispute at the Geneva-based WTO, they said.

 

In 2019, Brazil, Australia and Guatemala dragged India into the WTO's dispute settlement mechanism alleging that New Delhi's sugar subsidies to farmers are inconsistent with global trade rules.

 

The Department of Commerce is coordinating with all the concerned line ministries to arrive at possible alternatives, one of the sources, who is aware of the development, said.

 

The exercise assumes significance as a WTO dispute settlement panel on December 14, 2021, ruled that India's support measures for the sugar sector are inconsistent with the global trade norms.

 

In January 2022, India appealed against the panel's ruling at the WTO's appellate body, which is the final authority on such trade disputes.

 

Brazil is the largest producer and exporter of sugar in the world. India is the world's second-largest sugar producer after Brazil.

 

Brazil, Australia and Guatemala, which are members of the WTO, had complained that India's support measures to sugarcane producers exceed the de minimis level of 10 per cent of the total value of sugarcane production, which according to them was inconsistent with the WTO's Agreement on Agriculture.

 

They had also flagged India's alleged export subsidies, subsidies under the production assistance and buffer stock schemes, and the marketing and transportation scheme.

 

According to WTO rules, a WTO member or members can file a case in the Geneva-based multilateral body if they feel that a particular trade measure is against the norms of the WTO.

 

Bilateral consultation is the first step to resolve a dispute. If both sides are not able to resolve the matter through consultation, either can approach the establishment of a dispute settlement panel. The panel's ruling or report can be challenged at the World Trade Organization's Appellate Body.

 

Interestingly, the appellate body of the WTO is not functioning because of differences among member countries to appoint members in this body. Several disputes are already pending with the appellate body. The US has been blocking the appointment of the members.

 

The bilateral trade between India and Brazil increased to USD 16.6 billion in 2022-23 as against USD 12.2 billion in 2021-22. Trade gap is in the favour of India.

 

India has exported 37.75 lakh tonnes of sugar till March 9 of the 2022-23 ongoing marketing year ending September out of 60 lakh tonnes allowed by the government, trade body All India Sugar Trade Association (AISTA) has said in March. Mills have exported 37,75,684 tonnes of sugar between October 1, 2022, and March 9 of the 2022-23 marketing year.

 

The sugar marketing year runs from October to September. The government has allowed the export of 60 lakh tonnes for the 2022-23 marketing year. The industry is demanding that the government should increase the export quota.

 

WTO member countries can resolve disputes outside the dispute settlement mechanism and later inform the multi-lateral body about the same.

 

Recently, India and the US have agreed to end their six major trade disputes at the WTO.

In a relief to small food business operators, the Food Safety and Standards Authority of India (FSSAI) has agreed to tone down its recent order that called for mandatory testing of products manufactured by all food business operators (FBOs).

 

Responding to the concerns expressed by activists and small FBOs, the FSSAI said it examines options to provide minimal parameters for testing in the respective product category.

 

'Keeping in view a large number of representations received from stakeholders, especially the micro, small, and medium enterprises (MSME) sector, that expressed concerns such as testing costs, we are exploring options to provide minimal parameters to be tested without compromising the food safety,' Ganesh Vishweshwar Bhat, Technical Officer (Regulatory Compliance), FSSAI, said.

 

In a response sent to Alliance for Sustainable & Holistic Agriculture (ASHA), he said the tweak in the order would ease the burden of FBOs, especially regarding the testing fees.

 

A recent FSSAI order directed all the FBOs to get tests done on their products and upload the results every six months. The ASHA lodged a strong protest with the authority early this month, alleging that the move would cause a severe financial burden on small FBOs, who don’t have the financial wherewithal to conform to the order.

 

Stating that it’s the government’s responsibility to test the food products, he said the order puts the onus on small FBOs. It pointed out that small FBOs (with less than a turnover of Rs 12 lakhs) are only required to register with the FSSAI.  (Small operators have a production ceiling of 100 litres or kilograms a day).

 

The FSSAI, however, said that the order provisions align with FSSAI’s mandate to ensure the availability of safe and wholesome food for human consumption.

 

'In order to ensure food safety by the manufacturers, testing of food products at least once in six months by the licensed food manufacturers has been made mandatory since August 5, 2011,' the FSSAI official said in his letter.

 

'One of the conditions that a licensed manufacturer must meet is to ensure testing of relevant chemical and/or microbiological contaminants in food products in accordance with these regulations as frequently as required,' he said.

 

These tests will are t be conducted at the NABL-accredited FSSAI-notified laboratories at least once in six months.

 

He said the FSSAI’s January 2023 order directed the licensed players to follow the regulations and upload test reports on the Food Safety Compliance System portal.

 

Activists’ response

The FSSAI’s response, however, didn’t enthuse the activists much. 'It appears that FSSAI has agreed to have a relook at the provisions made in its order. We continue to believe that there is no scientific basis for this order, even if they reduce the parameters for testing,' an ASHA constituent member said.

 

The decision of the US and India to end six major trade disputes at WTO is a 'big victory' and will be mutually beneficial for both countries, Commerce and Industry Minister Piyush Goyal said on Friday. He said resumption of talks at the Trade Policy Forum has started yielding significant results.

 

India and the US have agreed to end six trade disputes at the World Trade Organization while New Delhi will also remove retaliatory customs duties on certain American products such as almonds, walnuts, and apples.

 

A joint statement issued after the meeting of Prime Minister Narendra Modi and US President Joe Biden in Washington said the two leaders welcomed the resolution of six outstanding WTO disputes through mutually agreed solutions.

 

'It is a big victory for India and is a mutually beneficial arrangement for both countries,' Goyal told reporters here.

 

He said, now there are no pending India-US disputes at WTO.

 

On the poultry case, he said both sides are discussing it and will find a solution by end of this year.

 

'So, India and the US by the end of this year will have no disputes. All the six major ones have gone,' the minister said adding 'for the first time bilaterally we are ending the disputes.'

 

In 2015, India lost a long-pending dispute over poultry imports from the US at WTO's dispute settlement body. India had 12 months to comply with the WTO order. The US had sought trade sanctions against India in this case.

 

Goyal informed the reporters that US Trade Representative Katherine Tai will be coming to India by end of this year for next TPF meet.

 

'Before that, we will be in a position to solve that (poultry case) also,' he added.

 

Talking about the six trade disputes, he said it's a 'package deal'. The six disputes include three initiated by India and as many by the US.

 

In 2018, the US imposed 25 per cent and 10 per cent import duties on certain steel and aluminium products, respectively, on grounds of national security. In retaliation, India in June 2019 imposed customs duties on 28 American products, including chickpeas, lentils, almonds, walnuts, apples, boric acid, and diagnostic reagents. India had also filed a complaint against the US in WTO on imposing these duties.

 

On the steel and aluminium case, there were requests by Indian players to exclude certain products from the high duty list.

 

On this, the US has given 'us an assurance that at least 70 per cent of all such requests of steel, and 80 per cent of all such requests for aluminium applications for products originating in India will be excluded from the additional process of Section 232 (of a US law)'.

 

In 2018, then US President Donald Trump had imposed these duties using Section 232 of an act that permits the president to restrict imports.

 

The six disputes include countervailing measures on certain hot-rolled carbon steel flat products from India, certain measures relating to solar cells and modules, measures relating to the renewable energy sector, export-related measures, certain measures on steel and aluminium products, and additional duties on some products from the US.

 

According to trade experts, both countries can resolve the disputes on mutually agreed terms and later inform the Geneva-based WTO about the same.

 

On April 12, 2012, India requested consultations with the United States with regard to the imposition of countervailing duties by the US on certain hot rolled carbon steel flat products from India. New Delhi had claimed that the countervailing duty investigation and related measures are inconsistent with WTO trade norms.

 

On February 6, 2013, the US requested consultations with India concerning certain measures of India relating to domestic content requirements under the Jawaharlal Nehru National Solar Mission for solar cells and solar modules. America claimed that the measures appear to be inconsistent with global trade provisions.

 

Similarly, on September 9, 2016, India requested consultations under the aegis of the WTO with the US regarding certain measures of the US relating to domestic content requirements and subsidies instituted by the governments of the states of Washington, California, Montana, Massachusetts, Connecticut, Michigan, Delaware and Minnesota, in the energy sector.

 

On March 14, 2018, the US asked for consultations with India concerning certain alleged export subsidy measures of New Delhi under Merchandise Export from India Scheme (MEIS), Export Oriented Units (EOU), Electronics Hardware Technology Parks (EHTP), Special Economic Zone (SEZ) and Export Promotion Capital Goods (EPCG). The WTO dispute panel ruled against India, and New Delhi in 2019 appealed against the ruling at the appellate body.

 

On May 18, 2018, India requested consultations with the US concerning certain measures imposed by America to allegedly adjust imports of steel and aluminium into the US. India had claimed that these measures appear to be inconsistent with the WTO rules.

 

Similarly on July 3, 2019, the US asked for consultations under the WTO dispute settlement mechanism with India regarding India's imposition of additional duties with respect to certain products originating in the US.

 

The US is the largest trading partner of India. In 2022-23, the bilateral goods trade increased to USD 128.8 billion as against USD 119.5 billion in 2021-22.

Union Minister of Commerce and Industry, Consumer Affairs, Food & Public Distribution and Textiles, Shri Piyush Goyal lauded the support and encouragement provided to exporters by ECGC Ltd. Addressing the media in New Delhi today, the Minister emphasized the importance of transparency and simplification of procedures and said that all the procedures at ECGC Ltd. will be made completely digital in the next few months. The Minister said that the digitisation of processes at ECGC will enhance the convenience for the exporters. Shri Goyal also said that a new grievance redressal mechanism at ECGC Ltd. will be established where a Live video-conference facility will be available daily for one hour on the website of ECGC Ltd. 

 

Last year ECGC Ltd. extended cover under Export Credit Insurance for banks (ECIB) scheme for the accounts with export credit working capital limits up to Rs. 20 crore sanctioned by the banks (excluding Traders and GJD Exporters) with enhanced cover of 90%. Four banks namely SBI, Central Bank of India (CBI), Bank of Maharashtra and Saraswat Bank have so far opted for the enhanced cover. The experience under the cover has been satisfactory in terms of low default ratio in the last one year. Shri Goyal said that the extended cover under the scheme has resulted in easing of interest rates on the credit/loans obtained from the banks.

 

The Minister announced that the benefit of the enhanced cover will be extended to the accounts with limits up to Rs. 50 crore for above four banks without any additional cost. It is expected that around 3000 exporter-borrower accounts will benefit from this.

 

For nine banks where six-year claim to premium ratio (CPR) is less than 70%, cover for accounts with export credit working capital limits up to Rs. 20 crore will be offered enhanced cover of 90% without any additional cost provided the banks are extending the export credit at an interest rate corresponding to the accounts rated ‘AA’ (or with equivalent rating). Around 3000 exporter- borrower accounts will be supported by the enhanced cover under WT-ECIB for such banks. This product was first of its kind in the export credit insurance industry all across the globe. The product facilitates the borrower accounts to be treated equivalent to ‘AA’ rated accounts with reduced cost of export credit to the exporters.

 

ECGC Ltd. will provide enhanced cover under the policy covers (providing protection against commercial and political risks on account of the overseas buyers) issued to the exporters in the policies available for sale in all the channels. 100% cover will be provided for existing policyholders where ‘No Claim Bonus (NCB)’ is 50% and the policy proposal has been received directly from the exporters and not through insurance brokers. 5% additional cover under the policies will be given where the proposal is received directly from the exporter and not through insurance brokers.

 

During FY 2022-23, ECGC Ltd. supported more than 16,000 exporters with an aggregate value of business covered to the tune of Rs.6.68 lakh crore. CMD, ECGC Shri M. Senthilnathan said that the business covered value is expected to increase to more than Rs.10 lakh crore in the current FY.

 

ECGC Ltd. envisages to provide claim and other insurance related services to exporters and banks digitally after implementation of the upgraded software system (ERP system) which is likely to be implemented within the next six months.

 

ECGC Ltd., a premier Export Credit Agency (ECA) of the Government of India, was set up in 1957 under the Companies Act to promote exports from India by providing export credit insurance services to exporters and banks. It functions under the administrative control of the Ministry of Commerce and Industry. Over the years, the Company has designed different export credit risk insurance products to suit the requirements of Indian exporters to protect them against credit risk involved in exports. The Company also provides insurance to commercial banks extending export working capital loans to exporters. The products to banks are aimed at ensuring availability of adequate and affordable working capital for exporters. The products to exporters help them in retaining the existing markets in addition to expanding exports to new and emerging markets by extending adequate credit to buyers.

The Food Safety and Standards Authority of India (FSSAI), is conducting a three-week induction training programme, ‘Nurturing Individual Potential and Unleashing Networking’ (NIPUN), for its newly recruited officials. The recently opened National Training Centre was officially inaugurated by Dr Mansukh Mandaviya, Union Minister of Health and Family Welfare, on May 31, 2023.

 

This is the first step towards enhancing staff training and capacity building for food safety officials, designated officers, and staff members.

 

The 6th NIPUN was inaugurated by G Kamala Vardhana Rao, CEO, FSSAI, at the National Training Centre for Food Safety and Standards, Ghaziabad. While welcoming the newly hired officials. Rao said, 'Your role is pivotal in maintaining food safety and quality which will impact the lives of 140 crore people.'He added that this training will help enhance the skills and knowledge about the food safety ecosystem of the country.

 

FSSAI has trained more than 11 lakh food handlers and FBOs as Food Safety Supervisors since 2017, with an average rate of 2 lakh trainees per year. With more than 72 lakh FBOs in the country, FSSAI is gearing up to train 25 lakh food handlers and FBOs in the next three years, beginning with the current financial year.

 

NIPUN is a flagship induction training programme for direct recruits of FSSAI. The programme design comprising three weeks of classroom training followed by on-the-job exposure to the functioning of FSSAI at regional offices is envisaged to sensitise the direct recruits to the paramount mandate of the apex food regulator.

 

This training programme aims at fostering fundamental knowledge about food safety and standards, as well as an understanding of the organisational structure of FSSAI, including the Food Authority, Central Advisory Committee, scientific panels/committees, and the general aspects of food safety in terms of products, practices, value chain, and ecosystem. The programme will feature various technical sessions covering topics such as Indian Food Laws, Standardisation, Quality Assurance, Regulatory Compliance, Codex, Food Imports, and more. Additionally, it will cover administrative aspects, including rules, benefits and claims, office procedures, public procurement and financial rules, conduct and discipline rules, and e-office.

 

A group of 52 recently recruited deputy directors, food analysts, and technical officers will undergo this three-week programmes at the National Training Centre for Food Safety and Standards in Ghaziabad. Following the programme, they will receive two weeks of on-the-job training at the Southern Regional office in Chennai and the Northern Regional office in Ghaziabad.

India and the US on Thursday said they will be looking forward to reconvening of the India-US Trade Policy Forum later this year to further enhance trade relationship and identify new areas for engagement.

 

The two countries have also taken steps towards deepening bilateral cooperation to strengthen economic relationship, including trade ties, according to a joint statement issued after a meeting between Prime Minister Narendra Modi and US President Joe Biden.

 

'The US-India trade and investment partnership is an engine for global growth, with bilateral trade exceeding USD 191 billion in 2022, nearly doubling from 2014,' it said.

 

Prime Minister Modi and President Biden also applauded the reconvening of the US-India Commercial Dialogue and CEO Forum in March in New Delhi, according to the statement.

 

They have encouraged respective industries to take action on the recommendations from CEOs for greater engagement and technical cooperation to build resilient supply chains for emerging technologies, clean energy technologies, and pharmaceuticals; promote an innovative digital economy; lower barriers to trade and investment; harmonise standards and regulations wherever feasible; and work towards skilling of workforces, it said.

 

'The leaders support continued for active engagement between the US Treasury Department and the Indian Ministry of Finance under the Economic and Financial Partnership dialogue,' the joint statement said.

 

They encouraged the US Federal Insurance Office and the Insurance Regulatory and Development Authority of India to advance in areas of mutual interest in the insurance sector under their existing MoU framework, it said.

 

Prime Minister Modi and President Biden have committed their administrations to promoting policies and adapting regulations that facilitate greater technology sharing, co-development, and co-production opportunities between the US and Indian industry, government, and academic institutions, the statement said.

 

They also welcomed the launch of the interagency-led Strategic Trade Dialogue in June and directed both sides to undertake regular efforts to address export controls, explore ways of enhancing high technology commerce, and facilitate technology transfer between the India and the US.

 

The statement said Modi and Biden welcomed Air India's historic agreement with Boeing to acquire more than 200 US-made aircraft. This purchase, it said, will support more than one million US jobs across 44 states and contribute to ongoing efforts to modernise the civil aviation sector in India.

 

Boeing has announced a USD 100 million investment on infrastructure and programmes to train pilots in India, supporting India's need for 31,000 new pilots over the next 20 years.

 

The leaders also welcomed Boeing's announcement of its completion of a C-17 aftermarket support facility for MRO and a new parts logistics centre in India to capture future synergies between defence and civil aviation.

 

'India highlighted its interest in the restoration of its status under the US Generalised System of Preferences programme, which could be considered in relation to eligibility criteria determined by the US Congress. The leaders supported intensifying the work to advance progress on issues related to the eligibility criteria,' the statement said.

 

Prime Minister Modi also expressed India's interest towards being recognised as a Trade Agreements Act-designated country by the US to further enhance the integration of both economies and to further promote trade and investment between the two countries.

 

In this regard, the leaders welcomed the initiation of discussions between both sides at an official level on issues related to bilateral government procurement, it said.

 

The leaders are committed to pursuing ambitious efforts to strengthen Multilateral Development Banks (MDBs) to address shared global challenges of the 21st century, according to the statement.

 

'By the G20 Leaders’ Summit in New Delhi, the United States and India will work together to secure G20 commitment to create a major new dedicated pool of funds at the World Bank to deploy concessional lending for global challenges, and to enhance support for crisis response in International Development Association recipient countries,' the statement said.

 

Noting the developments, Chief Executive at General Atomics Global Corporation Vivek Lall said, 'We are very happy to note that Prime Minister Modi and President Biden have significantly enhanced the defense relationship between the two countries by announcing the decision to acquire MQ9B for the Indian armed forces.' 'This is a breakthrough moment for India-US strategic and defence partnership and General Atomics is pleased to be a major contributor in taking it to the next level,' Lall said.

 

Prime Minister Modi is visiting the US from June 21-24 at the invitation of President Joe Biden and First Lady Jill Biden. PTI NKD MJH CS .