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29 Mar, 2023 News Image

G20 Meeting in Mumbai deliberates on Trade Finance Cooperation among G20 Member Countries.

An international conference on cooperation on trade finance among the G20 member countries was organised by the Ministry of Commerce & Industry on March 28, 2023 at Taj Lands’ End, Bandra (West), Mumbai.

The event was hosted by the Department of Commerce and organised by ECGC Limited and India EXIM Bank on the side lines of the 1st G20 Trade and Investment Working Group (TIWG) Meeting in Mumbai. Delegates from the member countries, industry and academic experts from across the world were present at the conference to engage in constructive dialogue and exchange of ideas in the domain of trade finance.

Commerce Secretary, Shri Sunil Barthwal, in his key note address, set the agenda for the meeting. He highlighted that it is the right time to discuss the issues facing trade finance and possible solutions.

Two panel discussions were organised as part of the event comprising of international experts. The first panel discussed the role of banks, financial institutions, development finance institutions, and Export Credit Agencies to identify the gaps and address the challenges in the trade finance arena amidst the uncertain global trade landscape.

The second panel discussion focused on accelerating digitalisation and fintech solutions for improving access to trade finance.

The session also delved on the current and emerging fintech solutions for making more customized lending decisions and enhancing trade finance supply for MSMEs.

The universal message from all the speakers in the conference highlighted the necessity of trade for ensuring prosperity for all and that inclusive trade finance is key to achieve this target.

Digitalisation of international trade is possibly an effective solution towards achieving cost reduction in trade and trade finance. The challenges to be addressed in digitalising trade were identified as international cooperation in harmonising definitions, standards and data sharing across the borders digitally.

While estimates suggest that traditional trade finance gap is currently around USD 2 trillion, bridging the gap needs more players, including multilateral development banks, Export Credit Agencies (ECAs), etc to increase their participation.

Evolution of fintechs and account aggregators in the ecosystem enables transaction risk evaluation based on real time data. This will enable cost effective appraisal by trade finance providers.

The panellists recommended that all nations should endeavour to adopt enabling legislation in the next few years to achieve paperless international trade.

Source: pib.gov.in

29 Mar, 2023 News Image

Wheat export ban to continue as long as India does not feel comfortable in domestic supplies: FCI chief.

The government on Tuesday said the export ban on wheat will continue as long as the country does not feel comfortable with the domestic supplies to meet the food security needs.

Addressing a press conference, state-owned Food Corporation of India (FCI) Chairman and Managing Director Ashok K Meena said wheat production has not been impacted due to unseasonal rains. Even after rains, the total wheat output will be at a record 112 million tonne this year.

He also mentioned that the government procurement of fresh wheat crop has kick-started, and about 10,727 tonne was purchased at minimum support price (MSP) in Madhya Pradesh on Monday.

India, the world's second-largest wheat producer, banned wheat exports in May 2022, with immediate effect as part of measures to control rising domestic prices.

'As far as the government is concerned for ensuring the food security of the common man, no export of wheat will be allowed. So, the export ban on wheat will continue as long as the country does not feel comfortable with supplies,' Meena told reporters.

Estimated higher wheat production this year will ensure sufficient supplies for both government procurement and general consumption in the Indian market, he said.

The government has projected a record wheat production of 112.18 million tonne in the 2023-24 crop year (July-June), as per the second estimate of the agriculture ministry.

Meena said the agriculture ministry has estimated a record wheat output, taking into account weather fluctuations.

'Rains are a cause of concern as it affects the quality of the grain. The accompanying factor of rain is that the temperature comes down. Low temperature is good for wheat crops for full maturity. Therefore, the estimated quantity of wheat production is likely to be achieved,' he said.

As a result, the government's wheat procurement target of 34.15 million tonne will also be achieved, he added.

Stating that the FCI has started the wheat procurement operation, Meena said about 10,727 tonne of wheat was procured in Madhya Pradesh on March 27.

'The first arrival has started in MP. About 10,727 tonne was procured, though there was huge arrival of 5.56 lakh tonne on Monday,' he said.

Procurement on the same date in the year-ago period was nil. The arrivals were huge due to the harvesting of short-duration crops this year.

Procurement centres across the country will remain open. Procurement in Punjab and Haryana will begin from April 1 onwards.

FCI aims to procure 13.2 million tonne of wheat from Punjab, 7.5 million tonne from Haryana and 8 million tonne from Madhya Pradesh in the 2023-24 marketing year (April-March), he added.

Asked if quality norms will be relaxed for the rain-hit wheat crop, Meena said, 'A team will be sent to assess the condition if required. We will take a call based on the report submitted by the team'.

The government is confident that the estimated record production will be achieved and the target of procurement will be achieved this year, he asserted.

Sharing about the sale of wheat from the buffer stock under the open market sale scheme (OMSS) to check rising wheat and wheat flour prices, Meena said this has been stopped for now as the prices have stabilised.

The quantity of wheat sold in the market has led to (mandi) prices coming down from Rs 30 per kg in the last week of January to Rs 22-23 per kg now. The prices will further come down on improved supplies from the harvesting of new crops, he said.

About 33.78 lakh tonne of wheat was sold under the OMSS to bulk consumers like wheat flour millers at a discounted rate. About 10,000 tonne were sold to Tamil Nadu, while 60,000 tonne to cooperative Nafed, NCCF and Kendriya Bhandar.

Meena said 32.10 lakh tonne of wheat has already been lifted so far, the balance quantity will be lifted before this month-end.

On April 1, FCI godowns would have a wheat stock of 84 lakh tonne.

Last year, wheat procurement for the central pool declined to 187.92 lakh tonne from 433.44 lakh tonne in the 2021-22 marketing year due to a fall in production in view of heatwaves in some states.

FCI is the government's nodal agency that undertakes the procurement and distribution of food grains for the PDS and welfare schemes.

Source: tribuneindia.com

29 Mar, 2023 News Image

Modernization of Pulses Processing Plants.

The Ministry estimates post-harvest losses from time to time for various agri-produces in the country through commissioning of studies based on primary surveys. Two studies were commissioned by the Ministry through (i) Indian Council of Agriculture Research-Central Institute of Post-Harvest Engineering & Technology (ICAR-CIPHET), 2015; and (ii) NABARD Consultancy Services Pvt. Ltd (NABCONS), 2022. As per these two studies, the estimates of post-harvest loss in pulses ranged from:

6.36% – 8.41% (ICAR-CIPHET, 2015)

5.65% - 6.74% (NABCONS, 2022)

The Ministry of Food Processing Industries through implementation of various schemes under the Pradhan Mantri Kisan Sampada Yojana (PMKSY) create post-harvest infrastructure and processing facilities, to boost the overall development of the food processing sector including reduction in post-harvest losses, enhancing value addition etc. So far, the Ministry has approved 5 units for pulses processing under the Creation/Expansion of Food Processing /Preservation Capacities(CEFPPC) scheme of PMKSY out of which 3 projects have been completed. The details are at Annex.

Annexure

ANNEXURE REGARDING 'MODERNIZATION OF PULSES PROCESSING PLANTS'

Sr. No.

Name of the applicant

District

State

Sector

Products

Date of Approval

Project Cost (Rs. in Cr.)

Approved Grant (Rs. in Cr.)

Released Amount (Rs. in Cr.)

Status

M/s Singhal Agro India LLP

Sonepat

Haryana

Grain Milling

Pulse Processing & Packing

26.09.2018

22.23

2.75

Completed

Sri Balaji Industries

Mysuru

Karnataka

Grain Milling

Fried dal and pulse flour

09.07.2019

6.86

2.25

Completed

M/s Baba Ramdev Agro Industries

Bikaner

Rajasthan

Grain Milling

Processing of Pulses

05.12.2022

12.49

Under Implementation

M/s P Duraisamy Maharajha Rice Mills Pvt Ltd

pib.gov.in

29 Mar, 2023 News Image

Slack domestic demand. Export demand holds turmeric prices from plunging.

Turmeric prices are ruling lower by over Rs.1,000 a quintal compared with last year on slack domestic offtake but export demand is preventing further fall in the rates.

Currently, the modal price (rates at which most trades take place) for the finger variety turmeric at Erode in Tamil Nadu is ruling at Rs.6,183 a quintal against Rs.7,790 in the year-ago period. In the case of the bulb variety, the modal price is 5,413 against Rs.6,594 a year ago.

At the Nanded agricultural produce marketing committee (APMC) yard in Maharashtra, the modal price is Rs.6,000 compared with Rs.7,200 a year ago. On NCDEX, spot prices for unpolished turmeric were quoted at Rs.6,452.35 a quintal. In Nizamabad APMC yard, the modal rate is Rs.5,751 against Rs.6,520.

Shipments up 10%

'Demand in the domestic market is slack, resulting in prices trading in a Rs.100-200 range either way. But demand for export is good and it has actually prevented the spice’s price from dipping further,' said Poonam Chand Gupta, a trader from Nizamabad, Telangana.

'Export demand is good amidst lukewarm domestic demand. You can say prices are at the bottom now. Export demand has ensured prices don’t decline further,' said Amrutlal Kataria, another trader from Nizamabad.

According to Spices Board India data, turmeric exports were up 10 per cent during April-November period of the current fiscal at 1.12 lakh tonnes valued at $140.94 million. During the same period last fiscal, shipments were nearly one lakh tonnes valued at $134.81 million.

'Turmeric exports are subdued a bit due to the recent rains in parts of Maharashtra. But they have been steady this fiscal,' said Sunil Patil, Proprietor, Varadlaxmi Trading Company in Sangli, Maharashtra.

Lower output seen

One of the reasons for turmeric to rule low this year is a huge ending stock from last year. In addition, this year’s production is unclear with the market still assessing damages due to rains.

Turmeric production in the 2021-22 crop year (June to July) was estimated at 13.30 lakh tonnes (lt) compared with 11.23 lt in 2020-21. A study made by Olam Spices and presented at the International Spices ConLgress in January projected turmeric output this year at 13.14 lt.

Though the production has been estimated lower, the ending stock of 1.7 lt could be a dampener. 'We are waiting for arrivals to pick up, especially from Nanded and Vidarbha regions,' Patil said.

While the crop in Maharashtra is reported to have been affected by water-logging, production in Tamil Nadu and diversion of 5 lakh bags (50 kg each) of turmeric in Karnataka from extraction units could make up the shortage, he said.

Short-term pressure likely

'We expect turmeric production to be at least 90 per cent of last year’s output,' said Kataria.

'Production could be 20 per cent lower than last year. But we will get a clear picture over the next few weeks,' said Gupta.

In the short-term, turmeric prices could come under pressure from arrivals in Maharashtra, Patil said, adding that he would not be surprised if prices drop to levels of Rs.5,500 since supplies are expected to continue till June.

Kataria said exports could swing prices either way depending on the demand emerging around April. Gupta said the market could be stable as there is nothing special for it to react.

However, if the El Nino, a weather phenomenon that has an impact on the Indian monsoon, emerges then turmeric prices could tend to move northward, said Patil.

'The quality of carryover stocks is not up to mark. Therefore, the market will tend to rise in case of the El Nino emerging,' he said, adding that prices would tend to rise after July.

Source: thehindubusinessline.com

29 Mar, 2023 News Image

Exercise caution . Govt confident of achieving 34.15 mt wheat procurement target.

Food Corporation of India (FCI) on Tuesday announced that wheat procurement has commenced in all the States and it is confident of procuring 34.15 million tonnes (mt) as estimated for the 2023-24 season (April-March).

Experts suggested that the government should exercise caution in its procurement strategies, considering that only 10,727 tonnes were procured on the first day out of the reported arrival of 0.56 million tonnes in Madhya Pradesh.

Briefing media, FCI’s Chairman and Managing Director Ashok K Meena said the export ban on wheat would not be lifted as long as the government does not feel comfortable in domestic supplies. He also said that wheat production would not be affected due to recent rains and the country could see a record output of 1121.8 lt as estimated by the Agriculture Ministry.

Wheat procurement is crucial for the government as due to a drop in production last year, the procurement hit a 15-year low of 18.79 mt in 2022-23. This resulted in an indefinite ban on export and prices of the cereal reaching an all-time high of Rs.32/kg.

Meena said due to the government’s intervention in offering 5 mt under open market sale scheme (OMSS), wheat prices in mandis have declined to Rs.22-23/kg now from Rs.30 in last week of January. Of the 3.38 mt sold in open market through auction, as much as 3.21 mt have already been lifted, he said.

Procurement target

The government has set a target to purchase 13.2 mt in Punjab, 8 mt in Madhya Pradesh, 7.5 mt in Haryana, 3.5 mt in Uttar Pradesh and 1 mt in Bihar.

When asked about the reason for the lower procurement estimate in Madhya Pradesh, which was the top contributor (12.94 mt) to the central pool stock in 2020-21, he stated that there was no drop in production and the estimate was reached after consultation with the State government.

'The situation is not the same as last year since there is no possibility of opening the export. Even after this, the private sector buys above the minimum support price (MSP), the government will find difficulties in achieving procurement target. But, even if it is able to buy 17 mt that will be enough to meet buffer and PDS requirement of 25.5 mt as already the stocks are 1 mt above buffer norms,' said a former executive director of FCI.

If the government is to consider relaunching PMGKAY and also to keep stock for OMSS, additional wheat will be needed, he said adding some prudent policy would help achieve the targeted procurement.

Meena said the opening stock of wheat as on April 1 is likely to be 8.4 mt (excluding current procurement that started earlier than normal April 1), against buffer norm of 7.5 mt. He also said the Centre will send team as and when required if demand for quality relaxation comes from States.

Source: thehindubusinessline.com

29 Mar, 2023 News Image

Delegates from 19 member countries and 10 international organizations to discuss sustainable agriculture and food security.

The second Agricultural Deputies Meeting of the Agricultural Working Group (AWG) is all set to take place from 29th to 31st March 2023 at Chandigarh. The event will see the participation of delegates from 19 member countries, 10 invited countries and 10 international organizations.

Speaking about the upcoming event, Ritesh, Joint Secretary (IC), Department of Agriculture and Farmers Welfare said, 'The second Agricultural Deputies Meeting of AWG is an important platform for countries to come together and discuss ways to ensure sustainable agriculture, food security and nutrition. We are honored to host the event in Chandigarh and look forward to fruitful discussions.'

Rajinder Chaudhry, Additional Director General of PIB Chandigarh, added, 'The AMIS Rapid Response Forum, which will be held on the first day of the meeting, is an important initiative to address the food market situation and identify capacity building needs. We hope that this forum will provide a vision for the future progress of the initiative.'

During the second and third day of the meeting, member countries will focus on drafting the Communiqué which will address four thematic areas, namely food security and nutrition, sustainable agriculture with a climate smart approach, inclusive agricultural value chains and food systems, and digitalization for agricultural transformation.

Apart from the discussions, delegates will also get to experience the rich cultural heritage of Chandigarh through a visit to the food festival at Rock Garden, excursion to Sukhna lake, followed by a gala dinner and a visit to Yadavindra Gardens at Pinjore.

The event promises to be a platform for countries to come together and work towards a sustainable future for agriculture and food security.

Source: pib.gov.in

29 Mar, 2023 News Image

National Mission on Natural Farming.

To motivate farmers to adopt chemical free farming and enhance the reach of natural farming, the Government has formulated National Mission on Natural Farming (NMNF) as a separate and independent scheme from 2023-24 by up scaling the Bhartiya Prakritik Krishi Paddati (BPKP). The success of NMNF will require behavioral change in farmers to shift from chemical based inputs to cow based locally produced inputs and thus requires continuous creation of awareness, training, handholding and capacity building of farmers in the initial years. The provision of Rs 459.00 crores for 2023-24 has been proposed after careful consideration and the requirement of increase of budget is not anticipated at this stage.

The budget for fertilizer subsidy for 2023-24 has been kept at Rs 1,75,099 crore.

Natural Farming is a way of chemical free farming based on desi cow and locally available resources, with no chemical fertilizers and pesticides and promotes traditional indigenous practices which give freedom to farmers from externally purchased inputs and is largely based on on-farm biomass recycling with major stress on biomass mulching, use of on-farm desi cow dung-urine formulation; managing pests through diversity, on-farm botanical concoctions and exclusion of all synthetic chemical inputs directly or indirectly and emphasis is given on improving natural nutrient cycling and increase in organic matter in the soil, which can help with climate change resilience and carbon sequestration in soils.

'National Standard of Organic Production (NSOP) has defined organic agriculture as 'a system of farm design and management to create an ecosystem which can achieve sustainable productivity without use of artificial off farm input such as chemical fertilizer and pesticides. Organic farming is considered to be climate friendly farming practices promoting low external input usage, recycling, reuse and reduced use of synthetics in farming. Indian Council of Agriculture Research (ICAR) under its All India Network Programme on Organic Farming has developed package of practices for organic production in cropping and farming systems mode.

Climate smart agriculture is a broader concept which includes all environments friendly agricultural approaches like integrated farming systems, conservation agriculture, natural farming, organic farming, precision agriculture, regenerative agriculture, reclamation of degraded soils and reduced food loss and waste to achieve sustainable agriculture. Climate smart agriculture is an integrated approach to managing landscapes-cropland, livestock, forests and fisheries-that address the interlinked challenges of food security and climate change. It aims to tackle three main objectives: sustainably increasing agricultural productivity and incomes, adapting and building resilience to climate change and reducing greenhouses gas emissions wherever possible and supports FAO strategic framework 2022-2031.

To make global consensus on a broader concept, Government has opted climate smart agriculture rather than natural and organic farming in its priorities for G20 agriculture working group.

This information was given by the Union Minister of Agriculture and Farmers Welfare, Shri Narendra Singh Tomar in a written reply in Lok Sabha today.

Source: pib.gov.in

29 Mar, 2023 News Image

India s overall exports cross an all time high of US$ 750 Billion in the 75th year of independence: Sh. Piyush Goyal.

Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal announced that India’s overall exports, that includes services and merchandise exports, have crossed US$ 750 Billion today. This is an all time high and this achievement of 750 billion comes in the 75th year of independence as we celebrate the Azadi Ka Amrit Mahotsav.

In his address, Shri Goyal highlighted how the exports have risen from US$ 500 Billion in 2020-2021 to this figure in extremely challenging times.

In his keynote address at the ASSOCHAM Annual Session 2023: Strengthening India's Competitiveness in New Delhi today, the Minister stated that there has been healthy growth in both merchandise and service sectors. He said that given the fact that the whole world is in recession, inflation is at an all time high for most developed countries, interest rates are shooting up and there’s a sense of doom and gloom in the rest of the world, India’s performance fills us with pride.

The Minister recalled that Prime Minister Narendra Modi had said from the ramparts of the Red Fort on Independence Day that we should get rid of the colonial mindset and recognise our roots and our strengths. He noted that the 5 Prans articulated by the PM will lead to a developed Bharat@100 in 2047 when we celebrate the centenary of our Independence and said that we all need to work with a sense of duty in the spirit of these 5 Prans.

The Minister said that the theme of the event 'Bharat@100: Paving the way for inclusive and sustainable global growth' converged with the aspirations of the country’s youth and an emerging young Bharat. He also said that the people desire to see India as an economic superpower leading the world in meeting global challenges. He observed that the world also sees India as a leader on multiple fronts.

He observed that ASSOCHAM should lead from the front in the journey of Bharat@100. He also noted that the focus of the Government is in ensuring that the basic needs of more and more families are being met and that as we move ahead, growth will not only be measured in terms of economic progress but also in terms of social progress & human development indicators along with other factors. He observed that with more than 80 Crore people in the country using the internet in this interconnected world, we have a whole new aspirational Bharat and the youth of our country today is demanding more and we need to work together to meet the aspirations of the citizens of the New Bharat.

The Minister stated that the domestic market has been growing steadily and over the last 9 years the focus has been on building the foundation blocks which are necessary for an economy to have many years of uninterrupted and sustainable growth. He noted that the first decade in the journey of a developing country becoming a developed country focussed on creation of strong fundamentals, economic framework and stable regulatory practices to attract domestic & international capital. The Minister stated that India is undergoing such a journey and India is lucky to bank upon its large domestic market and also access the whole wide world.

The Minister stressed upon the fact that the effort of the Government to make India self-reliant is about not closing doors but further opening them wider with the objective of letting competitive and comparative advantages determine international trade. He expressed hope that each country finds its niche in global trade and the entire world progresses in a sustainable manner. The Minister opined that policymakers need to look at the entire value chain to find out the industries or sectors in which India is most cost competitive, has an edge over others, has niche and some differentiating factor and push for the growth of such industries or sectors. He illustrated this point by stating that the Renewable Energy sector is one such area where India can become the global leader by exploiting the huge export potential and also promote the production of goods & services with least carbon impact.

He noted the various initiatives undertaken by the Government for the development of infrastructure like National Infrastructure Pipeline, PM Gati Shakti, Unified Logistics Interface Platform, etc. built upon technology as the backbone of such initiatives. He further appreciated how UPI has democratized the financial payment infrastructure and Open Network for Digital Commerce will promote e-commerce.

The Minister said that India’s strong macroeconomy, robust foreign exchange reserves, relatively low inflation and entrepreneurial spirit under the leadership of Prime Minister have brought together the domestic ecosystem to not only to replace items from the import basket but achieve economies of scale and compete in the international market. He expressed that India’s ability to innovate, R&D, spirit of enquiry and out of the box thinking is being witnessed by the world today and all this is reflective of the new spirit of Bharat.

The Minister said that the Free Trade Agreements (FTA) signed by India with Australia and UAE have been welcomed by industry across the three countries and there has been positive feedback across media platforms. The speed, quality and extensive stakeholder consultations resulting in finding the right equitable balance has been appreciated by all sections, said the Minister. He also stated that a series of FTAs are under different stages of discussion to further expand the trade of India and will further open up game changing opportunities for the economy.

The Minister said that this is India's moment in the Sun and lauded the vision of the Prime Minister who had said that this is the time, this is the right time. He further said that the G20 presidency has given a unique opportunity to position India globally and this must be leveraged by the industry and businesspersons to showcase India’s business across the world.

Source: pib.gov.in

29 Mar, 2023 News Image

Vocal for local in Food processing Sector.

As part of Atmanirbhar Bharat Abhiyan - Vocal for Local Initiative in food processing sector, 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. Till date, 27,003 Loans have been sanctioned in the country under credit linked subsidy component of PMFME Scheme, out of which 5864 loans sanctioned in the State of Maharashtra. The State-wise details are at Annexure.

The PMFME scheme is designed to address the challenges faced by the micro enterprises. The scheme aims to enhance the competitiveness of new and existing individual micro-enterprises in the unorganized segment of the food processing industry and promote formalization of the sector. The details of assistance available to Micro Food Processing Enterprises under PMFME Scheme:

(i). Support to Individual / Group Category Micro Enterprises: Credit-linked capital subsidy @35% of the eligible project cost, maximum ceiling Rs.10 lakh per unit;

(ii). Support to SHGs for seed capital: Seed capital upto Rs. 40,000/- per member of SHG engaged in food processing for working capital and purchase of small tools subject to maximum of Rs. 4 lakh per SHG.

(iii). Support for Common Infrastructure: Credit linked capital subsidy

@35% subject to maximum of Rs. 3 crore to support FPOs, SHGs, Cooperatives and any Government agency for setting up of common infrastructure. The common infrastructure will also be available for other units and public to utilize on hiring basis for substantial part of the capacity.

(iv). Branding and Marketing Support: Grant upto 50% for Branding and Marketing to groups of FPOs/ SHGs/ Cooperatives or an SPV of micro food processing enterprises.

(v). Capacity Building: The scheme envisages training for Entrepreneurship Development Skilling (EDP+): program modified to meet the requirement of food processing industry and product specific skilling.

Capacity building and training is a critical component of the scheme in technical upgradation and formalization of micro food processing enterprises. The focus areas for capacity building are entrepreneurship development, compliance of Food Safety and Standards Authority of India (FSSAI) standards and general hygiene and other statutory compliances. District Resource Persons (DRPs) have been appointed to provide handholding support to micro food processing enterprises for the compliance of FSSAI and other statutory requirements.

Annexure

ANNEXURE REGARDING 'VOCAL FOR LOCAL IN FOOD PROCESSING SECTOR'

State-wise number of loans sanctioned under credit linked subsidy

component of PMFME Scheme

Sl. No.	State/UT	No. of Loans Sanctioned
1	Andaman And Nicobar Islands	11
2	Andhra Pradesh	1937
3	Arunachal Pradesh	22
4	Assam	583
5	Bihar	2345
6	Chandigarh	5
7	Chhattisgarh	210
8	Dadra And Nagar Haveli And Daman And Diu	2
9	Delhi	94
10	Goa	41
11	Gujarat	100
12	Haryana	384
13	Himachal Pradesh	753
14	Jammu And Kashmir	212
15	Jharkhand	146
16	Karnataka	1922
17	Kerala	611
18	Ladakh	22
19	Madhya Pradesh	1468
20	Maharashtra	5864
21	Manipur	245
22	Meghalaya	30
23	Mizoram	5
24	Nagaland	24
25	Odisha	733
26	Puducherry	47
27	Punjab	935
28	Rajasthan	273
29	Sikkim	31
30	Tamil Nadu	3552
31	Telangana	1956
32	Tripura	46
33	Uttar Pradesh	2182
34	Uttarakhand	212
Total		27003

This information was given by Minister of State for Food Processing Industries, Shri Prahlad Singh Patel in a written reply in the Lok Sabha.

Source: pib.gov.in

29 Mar, 2023 News Image

Karnataka horti dept ups focus on FarmTech to boost efficiency and cost.

The Karnataka department of horticulture has increased focus on FarmTech to boost efficiency and cost. This is where start-ups are present and many of them are eyeing the sector to boost growth prospects.

The agri-tech start-up sector is also creating several market opportunities, primarily in digitising agriculture, improving farmers access to real-time information, increasing transparency across the value chain, providing farmers with higher-quality implements to increase yields, and providing farmers with micro-financing options to manage risks. These technologies have the potential to revolutionise decision-making and optimise yields, ultimately leading to improved economic outcomes for farmers, according to the officials.

The rise in start-up culture across the country has not overlooked the agriculture sector. Several ventures, particularly in Karnataka, have undertaken the task of using technology to grow out of traditional agricultural practices. Their main focus is to provide useful, affordable and innovative solutions to a number of challenges faced across the agricultural value chain. These start-ups act as a platform for networking between farmers, input dealers, wholesalers, retailers and consumers thereby providing growers with access to a strong and well-established market, they noted.

There is huge demand for precision farming technology. With new-gen farmers being qualified agriculturists or engineers they have the wherewithal to conceptualise and commission innovation backed by proof of use of technology across various farm lands.

Earlier this month, FarmTech Conclave 2023 created a cohesive platform required to bring all the stakeholders in the farming ecosystem together and provide opportunity to network, share insights, and identify potential partnerships which will drive innovation and progress within the industry.

With the theme being ‘Creating Networks for Collaboration and Growth’, the FarmTech conclave showcased the innovative products, services, and technologies designed to power agriculture and drive its future. In addition to the stakeholders of the farming community, key government representatives discussed, deliberated, identified priorities and proposed an agenda for the growth of the agriculture sector in the country.

In an effort to recognise innovation, for the first time, the Karnataka department of horticulture, introduced the FarmTech Awards to acknowledge AgriTech firms that have demonstrated dynamic leadership and exciting technologies, and for standing out in their chosen areas of AgriTech sector. These awards were given to individuals and companies that have made significant contributions to the development and application of new technologies in the FarmTech sector, and help to promote the growth and sustainability of modern farming practices. The wide range of categories, including precision agriculture, livestock management, food safety, and many others, and are designed to showcase the latest trends, breakthroughs, and advancements in the field. A jury covered leading panel of experts from the industry, policymakers, and academia who evaluated the participating companies based on the predetermined criteria.

Source: fnbnews.com