To check the prices, the government on Friday imposed the stock limit for tur dal and urad dal. This means wholesalers, retailers, big chain retailers, millers, and importers cannot keep pulses more than the specified limit.

 

New limits will be applicable from immediate effect i.e., June 02 and till October 31.

 

According to the Removal of Licensing Requirements, Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2023 order, stock limits have been prescribed for tur and urad for all States and Union Territories. Stock limits applicable to each pulse individually will be 200 mt for wholesalers, 5 mt for retailers, 5 mt at each retail outlet and 200 mt at the depot for big chain retailers. In the case of millers, the limit would be the last three months of production or 25 per cent of annual installed capacity, whichever is higher, for the millers. In respect of importers, the importers are not to hold imported stock beyond 30 days from the date of Customs clearance.

 

In a statement, the Ministry of Food and Consumer Affairs said: 'In order to prevent hoarding and unscrupulous speculation and also to improve affordability to the consumers in respect of tur dal and urad dal, the Government of India has issued an order where it has imposed stock limits on the pulses applicable to wholesalers, retailers, big chain retailers, millers and importers.'

 

The order also said that entities are to declare the stock position on the portal (https://fcainfoweb.nic.in/psp) of the Department of Consumer Affairs. In case the stocks held by them are higher than the prescribed limits, they will be required to bring the same to the prescribed stock limits within 30 days of issuing the notification.

 

'The imposition of stock limits on tur and urad is another step in the consistent efforts taken by the Government to crackdown on prices of essential commodities,' the statement said.

 

Further, it added that the Department of Consumer Affairs had been closely monitoring the stock position of tur and urad through the stock disclosure portal, which has been reviewed weekly with the State Government. Extensive interactions with various stakeholders such as importers, millers, retailers had been held to ensure disclosure of stocks, including visits by senior officers to the states of Karnataka, Madhya Pradesh, Maharashtra and Tamil Nadu to assess the ground situation, it added.

The Indian food authority has re-operationalised the standards for fortified rice kernels and issued an order in this regard asking food businesses to comply with the standards.

 

The standards for fortified rice kernels were proposed under the Draft FSS (Food Product Standards & Food Additives) Amendment Regulations issued by the FSSAI in May 2022 and were made operational in June 2022.

 

According to the FSSAI, the draft amendment regulations are in the process of final notification which is likely to take further more time for finalisation and publication in the gazette of india. 

 

 'Meanwhile, to strengthen the national level fortification programme and its implementation, it has been decided to operationalise the provisions related to the fortified rice kernel, vitamin & mineral premix for fortified rice kernels with effect from 23.12.22,' reads the order.

 

However, FSSAI added that the provisions related to yeast and mould count and aerobic plate count parameter of ‘Rice Flour’ for preparation of fortified rice kernel stand withdrawn.

 

The draft regulations say that Fortified Rice Kernels (FRKs) are rice shaped kernels containing vitamins and minerals produced through extrusion.

 

These fortified kernels required to follow physio-chemical requirements including moisture 12%, uric acid at 100 mg/kg with no damaged kernels, no discoloured grains, no chalky grains and no admixture with any other grain including non-fortified rice.

 

Also, the standards lay requirements for fortification with iron, folic acid and vitamin B12 with recommended sources. The draft lays requirement for fortification with micronutrients singly or in combination that include zinc, vitamin A, thiamine, riboflavin, niacin, and pyridoxine.

 

Besides, the regulations prescribe standards for rice flour preparation of fortified rice kernels, and vitamin-mineral premix for preparation of fortified rice kernels.

Our government will provide all facilities for marketing of GI-tagged Kashmiri Saffron, Maharashtra Agriculture Minister Abdul Sattar said on Thursday here. He hoped that the government of Jammu and Kashmir UT will reciprocate by providing a market to agricultural produce from Maharashtra.

 

The minister said this during a visit to the Indian International Saffron Trading Centre at the Dusoo Pampore area of Pulwama district. During the visit, he visited various sections of the IIKSTC Dusoo. He was briefed by the officers about different activities in the international trading centre.

 

In addition to the Stigma Separation Centre, the minister also inspected the drying, grading, packing and e-Auction centres at the park. He also held a meeting with IIKSTC officials and Saffron growers during which discussions were held to make the Saffron industry more stable.

 

Joint Director Agriculture Ghulam Mohammad Dhobi, Administrator IIKSTC Shahnawaz Ahmad Shah, Khursheed Ahmad, Dr Abdul Nayeem, Dr Majid Ali, Tariq Ahmad Parray, Saffron growers association president Abdul Majeed Wani and other officials of IIKSTC were present on the occasion.

 

'We have a huge market for agriculture business in Maharashtra where we will provide shop and other facilities for marketing of Saffron,' the agricultural minister from Maharashtra told Kashmir Reader. He said his visit is aimed at strengthening bilateral trade between Maharashtra and Jammu and Kashmir for the benefit of the farming community at both places.

 

'I want to send a message that the original (saffron) product is being sent from Kashmir after processing at a world-class laboratory. In this international-level laboratory, there are no chances of duplicity and I am really impressed with its functioning,' he said. He promised to provide all facilities to Jammu and Kashmir government for selling in Mumbai.

 

Abdul Sattar hoped that the bilateral trade between Maharashtra and Jammu and Kashmir will strengthen the mutual brotherhood between the people of the two places. He thanked the Government of India for providing farmers of Jammu and Kashmir with this facility in 2016.

 

He further said that farmers are being empowered and their produce is sold globally. 'As the agriculture ministry from the government of Maharashtra, I assure all facilities for selling Kashmiri Saffron at Mumbai, Thane and Pune. I also wish the agricultural produce of Maharastra to sell in Jammu and Kashmir at good prices,' he said.

 

It is a big thing that the Government of India has set up a high-tech lab here where around 16,000 saffron growers get benefited.

'Growers process their produce here and after following due procedure it is given a GI tag authenticating its purity,' he said and thanked all the employees of the lab for their work.

 

'Once the saffron is given GI tag at the India International Kashmir Saffron Trading Centre, it is a guarantee for its purity beyond an iota of doubt,' he said, adding that the saffron growers should have the market in all parts of India so that Kashmiri saffron growers’ income gets doubled.

Meghalaya chief minister Conrad Sangma flagged off 10 PRIME Agriculture Response Vehicles in Tura for farmers and farmers’ organisations of the Garo Hills region. 

 

Further, another 35 ARVs will be handed over soon. 

 

The lack of transportation facilities has been a major hurdle as highlighted by farmers & farmers’ groups in rural areas. 

 

The access to the ARVs at a 50 per cent subsidy will bridge this gap by lowering the transportation cost and will help them gain fair prices for their agricultural produce. 

 

The CM further distributed of seed balls for the Garo Hills region- 59.4 Lakh seed balls to be distributed to 297 Schools in the region. 

 

A total of 3.6 Million seed balls will be distributed across the state.

 

Financial assistance of Rs 3.02 Crores has also been provided under Green Meghalaya or the Payment for Ecosystem Services (PES) Scheme.

 

The CM along with his cabinet minister participate in GoI’s Mission LIFE initiative by planting samplings. 

 

Meghalaya has set a target to plant 5 Lakh saplings in the run-up to World Environment Day. West Garo Hills District alone will plant over 75 Thousand saplings.

 

The Meghalaya government also distributed of ‘KYAN’, an Integrated Digital Teaching Device for the Garo Hills region

 

The ‘KYAN’ portable device has a high-end computer, high luminosity projector, powerful Audio, Wi-Fi and Bluetooth connectivity, audio video conferencing facility and an in-built interactive touch feature all packed into a single device.

Mango traders and exporters in Mumbai expressed interest in exporting different mango varieties from UP to other countries in the mango buyer seller meet organised in Mumbai on Thursday. Dussehra, Chausa, Langda were some of the varieties from UP that were exhibited in the mango exhibition that was also held on the occasion.

 

Minister of state for Horticulture (independent charge) Dinesh Singh said that exporters willing can get in contact with mango growers in UP directly to procure the fruits and also seek help from the department.

 

He said that the buyer seller meet is organised to promote commercial varieties of mangoes. HoFED is working in a planned manner to encourage export of mangoes from UP.

 

UP accounts for 23% of total mango production in the country, which is more than 48 lakh tonnes of the total production of over 279 lakh tonnes in the country. Lucknow, Saharanpur and Meerut are main mango producing regions.

 

In the last few years, mango varieties from the state have been exported to Singapore, Malaysia, England and Dubai.

The second day of the Startup20 Engagement Group meeting in Goa witnessed crucial discussions and meetings aimed at strengthening collaboration and aligning efforts towards the growth and support of startups globally.

 

The program commenced with closed-door meetings between national and international delegations and Dr. Chintan Vaishnav, Chair of Startup20, focusing on key agendas and strategic partnerships.

 

During the press conference held later in the day, Dr. Chintan Vaishnav addressed the media, highlighting the progress made and the significance of the Policy Communiqué. He expressed his satisfaction with the agreement reached by all delegates on the Communiqué, marking a pivotal moment in the journey of the G20 nations towards fostering startup ecosystems worldwide. Dr. Vaishnav emphasized the collective efforts and extensive consultations undertaken with G20 nations to arrive at this crucial juncture.

 

In his statement, Dr. Chintan Vaishnav underscored the importance of specific action points outlined in the Communiqué. The key action points include the creation and adoption of a definition framework for startups, creating a network institution to support startups and ecosystem stakeholders across G20, increasing and diversifying access to capital, easing market regulations for startups, and prioritizing the inclusion of underrepresented communities within the startup ecosystem as well as the scaling up startups of global interest. These measures aim to foster a conducive environment that empowers startups to innovate, grow, and address global challenges effectively.

 

Dr. Vaishnav also made a significant call to action, urging G20 countries to unite in their commitment to the startup ecosystem. He proposed allocating a substantial sum of 1 trillion dollars for the startup ecosystem by 2030.

 

The day ended on a positive note, with delegates expressing their enthusiasm and commitment to realizing the goals outlined in the Policy Communiqué. The  agreement signifies the confidence of the Startup20 community in scouting startups globally, funding them collaboratively, mentoring them contextually,  and scaling them internationally. The G20 nations have taken a significant stride forward in their mission to nurture and support startups, setting the stage for a vibrant and thriving global startup ecosystem.

 

The Startup20 Engagement Group of the G20 concluded with success here in Goa Sankalpana, with an atmosphere of unwavering energy and determination.

 

Amidst the discussions on driving global startup ecosystem growth and innovation, all the delegates took a moment to extend their heartfelt condolences for the train accident that occurred in Odisha. They expressed their deep sympathies and solidarity with the affected families and the entire nation. Recognizing the importance of supporting and uplifting communities during difficult times, the delegates emphasized the need for collective efforts to ensure safety and security in all aspects of life, including transportation infrastructure. 

 

The summit meeting of Startup20 Engagement Group is slated to happen in July at Gurugram on July 3rd and 4th. 

The Sharjah Chamber of Commerce and Industry (SCCI) has successfully concluded its trade mission to India after five days of fruitful meetings and discussions with Indian business and industrial associations in New Delhi and Mumbai.

 

The trade mission, organised by the Sharjah Exports Development Centre, visited Indian Capital and commercial hub to discuss potential investment advantages and lucrative opportunities to further strengthen bilateral ties.

 

In New Delhi, the meetings took place on the sidelines of the 'UAE-India Business Forum', a significant event organised by the Chamber as part of the second stop of the trade mission.

 

A key outcome of these discussions was the mutual interest to further consolidate ties, with the Indian side expressing its intention to organise a high-level trade delegation visit to the Emirate of Sharjah. This delegation, representing various industrial and commercial sectors, is expected in the last quarter of this year.

 

The business gatherings have served as an effective platform to discuss potential investment advantages and trade opportunities across diverse economic sectors.

 

Both sides expressed a strong desire to enhance the level of cooperation and trade exchange, explore areas of joint work, exchange experiences, and learn from best practices.

 

Moreover, the meetings aimed at developing the exports of commercial and industrial enterprises and introducing the private sector to rewarding opportunities in promising sectors.

 

The first major meeting brought together Abdullah Sultan Al Owais, Chairman of SCCI; Waleed Abdul Rahman Bukhatir, Second Vice Chairman of the Board of Directors, SCCI; and Ahmed Mohamed Obaid Al Naboodah, Board Member, SCCI, with a delegation from the Associated Chambers of Commerce and Industry of India (ASSOCHAM) led by Pooja Ahluwalia, Assistant Secretary General of ASSOCHAM.

 

Present at the meeting were Abdulaziz Mohammed Shattaf, Assistant Director-General of the Communication and Business Sector at the Sharjah Chamber; Jamal Saeed Buzangal, Director of the Media Department at the Sharjah Chamber; and Ali Abdullah Al Jari, Director of the Sharjah Export Development Centre.

 

During the meeting, both sides explored ways to strengthen industrial and commercial cooperation between the two countries and exchanged perspectives on leveraging the expertise available on each side to facilitate the establishment of joint investment projects.

 

In the second meeting, Abdullah Sultan Al Owais and his accompanying delegation met Shri Paresh Kantilal Mehta, Regional Chairman of the Federation of Indian Export Organisations, where they discussed various options to foster cooperation in several key areas, with a particular emphasis on trade promotion of local products and goods for both countries.

 

The meeting involved a comprehensive review of the programmes implemented by the Sharjah Chamber and the export organisations in order to achieve the aforementioned trade promotion goals.

 

Additionally, the two sides explored opportunities for developing partnerships to boost exports and explore new markets.

 

Abdullah Sultan Al Owais stressed that the Chamber is committed to providing all forms of support to its associate members from the business community in Sharjah.

 

He briefed the Indian side on the attractive services and facilities offered by the SCCI-affiliated institutions in order to facilitate the growth and advancement of businesses.

 

Al Owais encouraged the Indian delegation to enhance their presence in Sharjah by actively participating in various qualitative and specialised exhibitions organised and hosted by the Expo Centre Sharjah throughout the year. '

 

The active participation from Indian businessmen and investors will not only showcase the Indian products but will also help expand their reach in the local and regional markets.

 

Al Owais, accompanied by members of the mission, also met Mohit Singla, Chairman of the Trade Promotion Council of India, an organisation affiliated with the Indian Ministry of Commerce.

 

During the meeting, the two sides agreed to sign a Memorandum of Understanding (MoU) to facilitate the exchange of visits for trade delegations and promote participation in exhibitions organized by Expo Centre Sharjah and the Indian Expo Mart, which operates under the council's umbrella. They also agreed to launch joint initiatives to enhance the business sectors' performance in commercial, industrial, and service activities in both countries.

 

On the concluding day of the mission, Al Owais engaged in discussions with the Millennial India International Chamber of Commerce, Industry, & Agriculture (MIICCIA) to develop cooperation frameworks between India and the Emirate of Sharjah.

 

The meeting focused on strengthening economic and trade collaboration, fostering coordination, partnership, and investment flow between the UAE and India.

 

Al Owais presented an overview of the economic landscape in Sharjah, highlighting its attractive investment advantages.

 

He also outlined the services provided by the chamber to companies interested in investing and its role in ensuring sustainability in commercial and industrial development through value-added services and dedicated efforts to identify growth opportunities for the business environment.

 

Throughout the five-day mission, representatives from industrial and commercial companies participated in field visits to various economic facilities and factories in Mumbai and New Delhi.

 

These visits provided opportunities to explore joint cooperation, discuss industrial integration, exchange experiences, learn about best practices, and build investment partnerships that benefit both sides.

Robust farm growth, apart from the services sector, was one of the key drivers of India’s better-than-expected economic performance in 2022-23 in contrast to just 1.3% expansion in the manufacturing sector.

 

Despite setbacks, such as extreme weather and damage to staples, gross value added (GVA) in agriculture and allied activities grew a targeted 4% for 2022-23. In the January-March quarter of 2022-23, farm sector GVA accelerated to 5.5%, the highest in 11 months, provisional estimates released by the National Statistical Office on Wednesday showed. GVA is a measure of growth that strips out net taxes.

 

Agriculture continues to be vital for the overall economy because nearly half of India’s population depends on a farm-based livelihood. Job losses in other sectors due to the pandemic shifted a large chunk of the workforce back to agriculture. This is likely to have increased disguised employment in the sector, which refers to redundant labour.

 

Strong growth in agriculture and allied activities was largely propelled by a rebound in the third and fourth quarters of 2022-23 at 4.7% and 5.5%. To be sure, farm growth was a muted 2.4% in the first quarter while it was 2.5% in the second quarter.

 

The momentum in farm growth however does not tie in with muted private final consumption expenditure (PFCE), a measure of people’s spending power. Also, since extreme weather roiled wheat for a second straight year in 2023, the share of allied farm activities in agricultural GVA could have been more than that of crops.

 

“Obviously, private consumption has been stagnating. But it is important to remember that, relatively speaking, that is also because the share of government capital expenditure has become larger. Plus, you also have a bit of crowding in of private investment,” economist M Govinda Rao said.

 

While the share of PFCE in GDP in 2022-23 (provisional estimates) stood at 58.5%, it was 58.3% in 2021-22 (first revised estimate).

 

With higher government investment, the economy will see a pick-up in household consumption with a lag in the current financial year, said NR Bhanumurthy, vice-chancellor of Dr BR Ambedkar School of Economics University, Bengaluru.

 

Record official projections of food output, especially of wheat and mustard, during the winter-sown season, is a key reason for higher fourth-quarter growth, said Abhishek Agrawal, an analyst with Comtrade, a commodity trading firm.

 

Despite a prolonged spell of untimely rain and hailstorms, which were feared to have damaged wheat, the government’s third advance estimates of agricultural production on May 25 pegged the staple’s output at a record 112.7 million tonne. Mustard output was also pegged at a record 12.4 million-tonne.

India's ambassador to Saudi Arabia, DrSuhelAjaz Khan, today had an extensive interactive session with industry and trade associations of Kashmir to discuss and plan strategies towards exploring business opportunities between the regions.

 

The session, organised by Jammu and Kashmir Trade Promotion Organization (JKTPO), was aimed at providing a platform to foster stronger economic ties and explore mutually beneficial trade opportunities.

 

DrSuhelAjaz Khan, while speaking on the occasion, emphasized the importance of strengthening bilateral trade between UT of J&K and Saudi Arabia. He acknowledged the rich cultural heritage and entrepreneurial spirit of Kashmir and expressed his admiration for the region's contribution towards the nation's economy. He observed that the unique and niche products of J&K have a lot of potential as far as the markets of Saudi Arabia are concerned.

 

Responding to issues and concerns raised by the participants, DrSuhelAjaz Khan praised the efforts of JKTPO in promoting trade and investment opportunities in Kashmir. He conveyed Embassy's commitment towards supporting such initiatives.

 

He assured the participants that the Indian government is continuously working hard towards creating a conducive business environment for all to flourish their businesses. He added that necessary support is being extended for trade and investment activities, especially for the export of GI-tagged products of Jammu & Kashmir. He assured to create of business linkages for the exporters of J&K, adding that efforts would be made to organise delegation visits, B2B meets, exhibitions, road shows and related events in Saudi Arabia.

 

'This interaction marks a significant milestone in strengthening economic ties between the two regions. It reflects the shared commitment towards exploring new avenues of cooperation and leveraging the vast potential for trade and investment', maintained the ambassador.

 

Managing Director, Jammu and Kashmir Trade Promotion Organisation (JKTPO), Khalid Jahangir welcomed the Ambassador of India to the Kingdom of Saudi Arabia, DrSuhelAjaz Khan, during a meet held in Srinagar, and appreciated the interest shown by him in reaching out to the Trade and Industry partners of Jammu and Kashmir.

 

He also gave an overview about the prevailing trade scenario with special reference to products having competitive advantage for export to Saudi Arabia.

 

KCCI discusses promotion of Kashmir crafts, tourism

 

Kashmir Chamber of Commerce and Industry (KCCI) held an interaction with the Indian Ambassador to Saudi Arabia, DrSuhelAjaz Khan at the office of Jammu and Kashmir Trade Promotion Organisation (JKTPO).

 

'The team brought the matter of holding market promotion exhibitions/ fairs /marts /road shows for marketing and promotion of Handicrafts, Carpets, Shawls, tourism, Direct Air connectivity between Kashmir and Saudia, export of horticulture,' the statement said.

 

The team also sought Ambassador’s help in facilitating Buyer- Seller Meet/ Reverse Buyer-Seller Meet/ Buyer to Buyer Meet/ Inter Chamber consultations to enable local entrepreneurs/exporters to have market assess for Kashmir products which already have a presence in Saudi and Gulf Countries.

 

'The KCCI sought the Ambassador’s help in organising a Tourism FAM Tour from Saudi to showcase the incomparable natural beauty and landscape of Kashmir in order to attract tourists from that country,' it said.

 

FCIK urges for diversification of India-KSA trade ties beyond oil

 

The Federation of Chambers of Industries Kashmir (FCIK) has underscored the need for diversification of bilateral trade ties between India and Kingdom of Saudi Arabia beyond the conventional field of oil in order to explore opportunities in other areas such as handicrafts, textiles, food processing, horticulture produce, sports goods, trout fish, organic vegetables and tourism.

 

The issue was raised by a delegation of FCIK during its interactive session with Indian Ambassador to KSA Dr. SuhailAijaz Khan at SanatGhar, Srinagar. The delegation of FCIK was led by ShahidKamili and included M.D Qureshi and AfaqQadiri.

 

The delegation told the Ambassador that given the fact that India and KSA were currently in the process of reinventing their economic strategy, Jammu and Kashmir offered varied products and services to help in balancing the trade between the two countries. India was currently at a disadvantageous position in the bilateral trade of 42.8 billion US dollars with exports of 8.76 billion dollars against imports of 34.1 billion dollars during the year 2021-22.

 

FCIK informed the Ambassador about the goods manufactured by local industrialists that had all the potential of exports to KSA.

 

PHDCCI Kashmir discusses business opportunities

 

A team of PHD Chamber of Commerce and Industry Kashmir, led by chair Vicky Shaw recently had an interactive session with DrSuhelAjaz Khan, the Ambassador of India to the Kingdom of Saudi Arabia.

 

A statement said that they discussed the current state of Kashmir and explored opportunities for growth and development in sectors such as Golf Tourism, Carpet Export, Apples, Walnuts, Saffron, Handicraft Export, and Walnut Wood Carved Furniture.

 

Shaw seized the opportunity to extend an invitation to Dr Khan, urging him to become the Ambassador of Kashmir. He emphasized the region’s potential for investment and highlighted how it could lead to mutually beneficial growth for both India and Saudi Arabia. Additionally, he emphasized the rich potential of Kashmir’s handicraft industry and the exceptional craftsmanship of its artisans.

An inter-ministerial consultation is going on for formulation of a new industrial policy, which would aim at building a globally competitive business environment to increase manufacturing and exports, a top government official has said. This would be the third industrial policy after the first in 1956 and the second in 1991.

 

It is likely to replace the industrial policy of 1991 which was prepared against the backdrop of the balance of payment crisis.

 

'The policy is in the process of inter-ministerial consultation...It will focus on newer set of industries that has now come,' Secretary in Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh told PTI.

 

The proposed policy is likely to suggest reforms to foster and create a globally progressive, innovative and competitive industrial ecosystem.

 

The six core objectives of the policy may include focus on competitiveness and capability; economic integration and moving up the global value chain; promoting India as an attractive investment destination in the world; nurturing innovation and entrepreneurship; and circular and sustainable ecosystem.

 

After the completion of the consultations, the department is likely to approach the Union Cabinet for its approval.

 

When asked about the progress on revising Wholesale Price Index (WPI) base year from 2011-12 to 2017-18, Singh said it is also in the process of inter-ministerial consultation.

 

Revising the base year would help in presenting a more realistic picture of the price situation in the country.

 

The department in June 2021 had issued a draft technical report of a working group, which suggested revising the base year and addition of about 480 items such as medicinal plants, pen drive, lifts, gymnasium equipment, and certain motorcycle engines in the new series.

 

At present, the index has a total of 697 items, including primary articles (117), fuel and power (16) and manufactured products (564).

 

WPI revision is a periodic exercise. The current revision process of WPI base year has been undertaken to incorporate the structural changes in the economy.

 

Two major indices are used for tracking price movement -- Wholesale Price Index (WPI) and Consumer Price Index (CPI).

 

While WPI measures price movement of goods in wholesale markets, the CPI tracks inflation at the retail level and also includes certain services.

 

Ever since the introduction of WPI in 1942 with base year 1939, seven revisions have taken place introducing new base years - 1952-53, 1961-62, 1970-71, 1981-82, 1993-94, 2004-05 and 2011-12.

 

The current WPI base year 2011-12 series was launched in May 2017.