India and Greece aim to double their bilateral trade to nearly $4 billion by 2030 and enhance connectivity through infrastructure projects like the proposed India-Middle East-Europe Economic Corridor (Imec).

 

'It is a matter of happiness that we are moving forward quickly towards the goal of doubling bilateral trade by 2030,' Prime Minister Narendra Modi said after discussions on Wednesday with his Greek counterpart Kyriakos Mitsotakis who is currently on a visit to India.

 

This is the first visit by a Greek premier to India since 2008.

 

The two countries identified pharmaceuticals, ports, chemicals, shipping, food, communications and defence as key sectors to help double their bilateral trade, which stood at $1.9 billion in 2022-23.

 

The partnership in shipping is particularly noteworthy, with India eyeing investment opportunities in Greek ports and seeking Athens’ support to modernize its shipping industry, as reported earlier by Mint.

 

Greece’s strategic location in the Mediterranean Sea makes it a major player in the global shipping industry. The country’s shipowners own roughly one-fifth of the world’s shipping fleet and almost 60% of the European Union’s fleet, according to the International Trade Administration, a US government agency.

 

The country is expected to be a key player in Imec, which will help facilitate export of Indian goods to the European markets.

 

'The India-Middle East-Europe Corridor is one such corridor that would strengthen this (India-Greece) connectivity. Given the strategic importance that Greece holds in terms of its location, the manner in which Greece could partner with the Imec was discussed,' foreign secretary Vinay Kwatra said at a press conference in New Delhi.

 

The two nations also agreed to establish a joint working group on defence, maritime security, counterterrorism and cybersecurity, building on a history of defence collaboration. This includes recent military exercises and naval operations, underscoring the growing strategic partnership between India and Greece.

 

The Mediterranean, a crucial corridor for global trade, has seen instability due to civil wars in the Middle East and maritime disputes over the past decade. India's increased defence ties with Mediterranean nations, including Italy, Egypt, and recently Greece, indicate a strategic move to amplify its influence in the region.

 

The discussions also covered space, advanced technologies, and the initiation of direct flight connectivity. A migration and mobility partnership is expected to be signed soon, in line with similar agreements signed with the UK, Germany and other European countries.

 

Greece's Prime Minister Mitsotak is set to be the chief guest at the Raisina Dialogue, the Indian foreign ministry’s premier geopolitical conference, which kicks off on Wednesday. His visit underlines the deepening ties and shared strategic interests between India and Greece, setting the stage for a strengthened bilateral relationship.

Deputy Foreign Minister of Norway, Andreas Kravik, shared insights on various global and bilateral matters, emphasising the imminent conclusion of a Free Trade Agreement (FTA) between India and the European Free Trade Association (EFTA).

 

He also spoke about Afghanistan, the Russia-Ukraine conflict, maritime security issues, and notably, his views on former US President Donald Trump's stance on NATO.

 

FREE TRADE AGREEMENT WITH INDIA

In an exclusive conversation with India Today TV, Kravik expressed optimism about finalising the FTA with India 'in the very near future,' highlighting the progress in negotiations despite the impending code of conduct for general elections in India.

 

'We are very hopeful that we will be concluding the free trade agreement with India in the very near future,' Kravik stated, acknowledging that while 'certain things need to be polished,' the process is moving positively forward.

 

The agreement, under discussion since 2008, involves EFTA countries—Switzerland, Iceland, Liechtenstein, and Norway—eyeing to invest up to $100 billion over 15 years for market access in India.

 

This ambitious initiative aims at enhancing bilateral trade, with specific focus on patent protection, investment promotion, and addressing contentious issues like regulatory data protection for pharmaceuticals.

 

The 21st round of discussions, held in Delhi from January 8 to 13, 2024, tackled critical areas including trade in services, rules of origin, and intellectual property rights, marking significant headway towards mutual economic benefits.

 

AFGHANISTAN AND HUMAN RIGHTS

 

Kravik also shed light on Norway's stance on Afghanistan, emphasising a balanced approach towards engaging the Taliban while advocating for human rights, especially women's rights.

 

'We have a multifaceted approach to Afghanistan and de facto authorities,' he remarked, underscoring the importance of engagement for any progress.

 

Despite the challenges, Norway remains committed to advocating for human rights and opening dialogues for better relations between the international community and the Taliban.

 

RUSSIA-UKRAINE CONFLICT AND NATO

On the Russia-Ukraine conflict, Kravik reiterated Norway's support for Ukraine and the critical role of NATO in defending international law and sovereignty principles.

 

'We have been adamant in our support. We have a financial commitment to Ukraine. We have a military commitment to Ukraine in the form of supplying weaponry,' he said, emphasising NATO's unified stance against Russia's violation of international law.

 

He said, 'Well, to begin with the conflict, or the war, we have been crystal clear since the start that what Russia did was a violation, or is still doing, is a violation of international law. Ukraine is fighting for its existence and that is something that we support. We have been adamant in our support. We have a financial commitment to Ukraine.'

 

'We have a military commitment to Ukraine in the form of supplying weaponry and so forth. They are defending themselves and NATO is critical in that effort,' he added.

 

Regarding Trump's stance on NATO, Kravik conveyed confidence in the alliance's resilience, even under a potential Trump presidency.

 

'We are comfortable in this infrastructure, in the NATO infrastructure remaining intact also under a potential US or Trump presidency,' he assured, highlighting the collective support within the alliance for its defence agreement.

 

Despite previous statements by Trump, Kravik expressed certainty in the continued U.S. commitment to NATO principles, reflecting a trust in the enduring nature of these international relationships.

 

'There is a shared collective support within the alliance for this collective defence agreement that NATO is symbolic of and that is something that we think will be continued by any US president. Of course we have seen and heard some of the statements by former President Trump but there is an election transpiring and we know how these things are and we are certain that once the elections have been conducted,' he said.

 

Former US President Donald Trump, eyeing the Republican presidential nomination, has reignited concerns with his provocative stance on NATO, the North Atlantic Treaty Organization.

 

Trump's recent comments suggest a radical departure from the alliance's foundational principle of collective defence, alarming international observers and allies alike.

 

At a campaign rally in South Carolina, Trump recounted a purported interaction with a head of state during an unspecified NATO meeting. According to Trump, when asked whether the US would protect a NATO member state that had not met its defence spending obligations and was under attack by Russia, he responded negatively.

 

'You didn’t pay, you’re delinquent? No, I would not protect you. In fact, I would encourage them to do whatever the hell they want. You got to pay. You got to pay your bills,' Trump declared.

 

This statement starkly contrasts with the NATO treaty's Article 5, which commits member states to mutual defence in the event of an armed attack against any member.

 

Although the treaty encourages members to aim to spend 2 per cent of their GDP on defence—a benchmark that many members do not consistently achieve—Trump's comments suggest he views this financial commitment as a precondition for the US's fulfillment of its treaty obligations. This interpretation challenges the very spirit of collective defence that has underpinned NATO's success as a military.

 

MARITIME SECURITY AND ISRAEL-HAMAS WAR

 

Addressing maritime security, Kravik condemned attacks against civilians and vessels in the Red Sea, stressing the urgency of a ceasefire in the Gaza Strip. Norway's commitment to securing maritime corridors and advocating for a two-state solution highlights its dedication to international peace and security.

 

'When it comes to the Red Sea and the attacks that we have seen against civilians and vessels, that is completely intolerable and something that we have been condemning in the strongest terms,' Kravik said.

 

'We have communicated and condemned this directly to the Houthis and said this is not something that is tolerable and something that has to be condemned by us, by the international community. We have dedicated personnel and also resources to various operations that are active in terms of combating and at least preventing some of these things from attacks from occurring,' he added.

 

Kravik emphasised the tie-in to the Gaza conflict, urging a ceasefire in Gaza due to the unacceptable civilian suffering. He expressed hope for a ceasefire to facilitate humanitarian assistance, constructive dialogue, and progress towards a two-state solution ensuring Palestinian sovereignty and Israeli security.

 

The Deputy Foreign Minister spoke on the sidelines of the Raisina Dialogue held in New Delhi, underscoring Norway's proactive role in fostering global cooperation, advocating for human rights, and supporting international law amidst complex geopolitical landscapes.

In a pioneering move, the Agricultural and Processed Food Products Export Development Authority (APEDA), in partnership with the Central Institute for Subtropical Horticulture (CISH), is gearing up for trial sea shipments of mangoes and pomegranates to the US and the European Union. This initiative, aimed at slashing the transportation expenses involved in exporting fresh fruits, follows the successful sea conveyance of bananas to the Netherlands and Russia, marking a significant advancement in the exportation of perishables.

 

APEDA's collaboration with CISH on developing sea protocols is a strategic effort to streamline the export process, ensuring the efficient transport of fresh produce to distant markets while minimizing logistics costs. This initiative is expected to catalyze a substantial increase in the export volumes of not just mangoes and pomegranates, but also other fresh fruits and vegetables, thereby bolstering India's footprint in the global market. Furthermore, APEDA's commitment to expanding its export portfolio to over 203 countries/territories is evident from its promotion of the One District One Product (ODOP) scheme and Geographical Indication (GI) products, alongside tapping into non-traditional areas for sourcing exports.

 

With more than 27 new product flag offs in the current financial year, ranging from guava and banana to marigold flowers and water chestnuts, APEDA is actively diversifying its export basket. These products, destined for the Gulf countries, Europe, and the US, underscore APEDA's role in enhancing the capacity of Farmer Producer Organizations (FPOs), thereby enabling direct exports and strengthening India's agricultural presence internationally.

NABARD, in collaboration with various stakeholders, hosted an investors' meet at Naya Raipur to promote the central government’s Food Processing Fund aimed at boosting the food processing sector in Chhattisgarh.

The investors' meet, a collaborative effort led by the National Bank for Agriculture and Rural Development (NABARD), saw the participation of various stakeholders, including top officials of the state's industry department, representatives of chambers of commerce and industries, and food processing industries.

 

NABARD's chief general manager, Dr Gyanendra Mani, highlighted NABARD's pivotal role in agricultural and rural development, emphasizing its efforts in fostering the food and agro-processing sector. He shed light on the potential within the sector and highlighted the operational success of the Indus Best Mega Food Park, a venture supported by NABARD. Dr Mani encouraged stakeholders to contribute their insights towards shaping policies conducive to sectoral growth.

The general manager of CSIDC, O P Banjare, commended the supportive measures offered by the Government of Chhattisgarh and expressed satisfaction with the fully operational Mega Food Park in Tilda, Raipur. Chairman of the PHD Chamber of Commerce and Industry, Shankar Bajaj, acknowledged NABARD's initiative in organizing the awareness meet, underscoring the critical role of the industry sector in Chhattisgarh's economic landscape.

 

Participants unanimously acknowledged the abundant potential within Chhattisgarh's food and agro-processing sector, advocating for initiatives aimed at export promotion and the establishment of ancillary industries, as per a NABARD release.

The release stated that dignitaries shared their experiences in establishing industrial ventures, particularly food parks and agro-processing units in Chhattisgarh. They articulated their expectations for favourable policy interventions from both state and central governments to bolster the sector's growth trajectory. Participants expressed keen interest in establishing food processing units within the Indus Best Mega Food Park, signalling optimism for the sector's future prospects.

 

Expo by TSIC and NABARD concludes

A three-day agri-innovation exhibition, One District One Exhibition (ODOE) program concluded in Hyderabad with over 4,000 participants. The program unfolded in Bhadradri Kothagudem, Mahbubnagar, and Nizamabad, providing farmers with well-equipped innovations sponsored by NABARD, aimed at creating a market for grassroots innovations with different reach, clientele, manufacturing, marketing, and value chain development.

Nyota Bhojan Initiative: Raipur Collector first in state to host feast for schoolchildren, emphasizing community participation

Raipur Collector Dr. Gaurav Kumar Singh hosted a feast for schoolchildren at the Government Primary School in the Dharampura area of the state capital. The Chief Minister suggested spending time with schoolchildren on their birthdays. The initiative was undertaken in Chhattisgarh under the direction of the Chief Minister. The menu was prepared based on students' preferences.

Investigation ordered into Rural Industrial Park investment; audit to follow

Deputy Chief Minister Vijay Sharma announced a committee to investigate the investment in Rural Industrial Park (RIPA) in Chhattisgarh. An audit will be conducted by the AG office. BJP MLA raised funding questions. Investigation focuses on irregularities, inspections of RIPA centers, and disbursed amount of Rs 260.1 crore.'

India has extended the timeline for duty-free imports of yellow peas by a month through April, 2024, an official gazette notification said. In early December, the central government allowed duty-free imports of yellow peas until March 2024. It was part of New Delhi's intervention to cool the prices of the overall pulse basket.

 

Reportedly, the duty on yellow peas was first implemented in November 2017 at 50 per cent. India largely imports yellow peas from Canada and Russia. India is a large consumer and grower of pulses and it meets a portion of its consumption needs through imports. India primarily consumes chana, Masur, urad, Kabuli chana, and tur.

 

As part of centre's invervention, it had in September extended stock limits on tur and urad dal by two months until December 31, besides revising the stock holding limits for certain stakeholders. Earlier, the stock limits on these two varieties of pulses were to end on October 30.

 

As per a notification issued then, the limit for stock with wholesalers and also big chain retailers at the depot was reduced from 200 MT to 50 MT, and the limit for millers was reduced from the last three months' production or 25 per cent of annual capacity, whichever is higher to last 1-month production or 10 per cent of annual capacity, whichever is higher.

 

The Ministry of Consumer Affairs, Food and Public Distribution had maintained the revision in stock limits and extension of the time period is to prevent hoarding and elicit the continuous release of tur and urad in sufficient quantities to the market and make the pulses available at affordable prices.

 

India and Sri Lanka are set to take ongoing discussions on the Economic and Trade Cooperation Agreement (ETCA) forward, with the next two rounds of bilateral talks scheduled later this month and in March.

 

The progress in negotiations is significant for New Delhi and Colombo, as the much-discussed pact was stalled in the past, owing to stiff opposition from some worker unions and hardline Sinhala-nationalist politicians, who saw the agreement as favouring Indian interests predominantly, while endangering Sri Lankan labour. At least 11 rounds of discussions were held between 2016 and 2019, when the Maithripala Sirisena-Ranil Wickremesinghe administration was in power, but the two sides failed to reach an agreement amid protests in Sri Lanka.

 

President Ranil Wickremesinghe, who assumed charge in 2022 under extraordinary circumstances during the island’s economic crisis when a mass uprising ousted his predecessor Gotabaya Rajapaksa, has emphasised the need for trade pacts to aid the country’s economic recovery. Earlier this month, Sri Lanka inked a free trade pact with Thailand. India, followed by China, are the other two key partners with which Mr. Wickremesinghe is keen to have upgraded agreements, even as Sri Lankans reel under the painful aftermath of a financial meltdown.  

 

After talks on the stalled pact resumed under President Wickremesinghe last year, substantial discussions have been held. The Sri Lankan government sees the resumption of ETCA negotiations as 'a significant step towards strengthening the economic partnership between Sri Lanka and India.'  

 

According to an official update issued after the Sri Lankan Cabinet met on Monday, the 13th round of discussions on the proposed ETCA was held in New Delhi for ten days beginning January 8, 2024. Nine sub – committees tasked with looking into various aspects such as goods trade, service trade, rules of the origin and customs procedure and easing the trade held deliberations.

 

Official sources familiar with the negotiations told The Hindu that the two sides are exploring ways of linking service trade to investments to ensure there is no threat to local labour. 'Free movement of individual professionals is not anticipated in the agreement,' a senior official said. Mr. Wickremesinghe on Monday briefed his Cabinet on the talks, and the 14th round of discussions of the proposed agreement is scheduled to be held on the first week of March 2024, the official press release said.

 

India and Sri Lanka first signed a free trade agreement in 1998. While the two sides have since attempted to upgrade it multiple times, the attempts proved unsuccessful. New Delhi and Colombo discussed a ‘Comprehensive Economic Partnership Agreement (CEPA)’ with former President Mahinda Rajapaksa’s government, but his administration saw the agreement as being redundant at the time.  

 

Now, as both India and Sri Lanka prepare for an election year — Sri Lanka is scheduled to hold Presidential polls later this year — officials and Colombo and New Delhi are keen to seal the pact before that, sources said.

PM Modi reiterated Thursday his govt’s unwavering commitment to farmers’ welfare and income enhancement during a one-day visit to Gujarat, underscoring the importance of sustainable agricultural practices and livestock management for India’s economic growth and prosperity.

'Our focus is on improving the lives of small farmers, enhancing livestock health, and promoting allied activities such as growing fish and beekeeping to boost farmers’ income,' Modi said, criticising previous govts for looking at requirements of villages 'in pieces'.

 

While inaugurating and laying the foundation for development projects worth Rs 57,000 crore, Modi emphasised that Indian dairy sector’s annual turnover of Rs 10 lakh crore surpasses that of paddy, wheat & sugarcane combined.

PM: Our dairy sector growing at 6% against global average of 2%

While highlighting the significance of several initiatives of his govt aimed at rural prosperity, PM Modi said, 'Modi’s guarantee starts where hopes from others end.'

 

Speaking at golden jubilee celebrations of Gujarat Co-operative Milk Marketing Federation (GCMMF), which markets the iconic brand Amul, the PM gave an overview of India’s dairy sector, which is growing at a rate of 6% per annum against the global average of 2%. 'In the past 10 years, India has witnessed 60% growth in milk production. Its per capita milk availability has increased by 40%,' he said.

'We have taken a vow to make India a developed country in 2047. It also marks 75 years for Amul. You have set a target to double your production… govt is with you. This is Modi’s guarantee,' he said, addressing over one lakh dairy farmers at Narendra Modi Stadium in Motera.

 

He announced key govt measures, including a Rs 1 lakh crore fund to support cooperative societies and a Rs 30,000 crore fund to bolster cattle-rearing infrastructure.

Addressing a public rally in Tarabh village of Mehsana, Modi accused Congress of perpetuating cynicism and fostering animosity while the nation celebrated Ram temple’s construction. 'If temples are being built in the country, govt is also building pucca houses for crores of poor people,' he said.

He criticised Congress for viewing India’s rich legacy through electoral lenses. 'If someone is guilty of creating this hostility, it’s solely Congress…These are the same people who raised doubts about the existence of Lord Ram and created roadblocks in the construction of the temple,' he said.

In Navsari, Modi targeted dynastic politics, asserting that a party entrenched in nepotism prioritises family over merit. He highlighted Congress’s attempts to discredit him based on caste , emphasising that such attacks strengthen his resolve and support for his party.

Commerce and Industry Minister Piyush Goyal on Wednesday said India negotiates trade and investment agreements with fairness and open mind and takes care of the interest of people. He also said countries that are negotiating Free Trade Agreements (FTAs) and investment pacts with India should keep in mind that New Delhi offers a huge market to them in terms of demand and business opportunities.

 

'I can assure you that India negotiates with fairness, with an open mind... India also takes care of its wider and larger interest in the long run,' he said at the CII India-Europe conclave.

 

FTAs or Bilateral Investment Treaties (BITs), or agreements on geographical indications, will have to stand the test of fair, equitable, and balanced agreements as the level of economic developments varies, he said.

 

'We will have to respect the very different opportunities that are offered by India vis-a-vis the offer on the table from other countries,' he said, adding that India is one of the fastest growing economies of the world.

 

The young population, demand for goods and services, opens up huge opportunities for businesses across the globe, the minister added.

 

The remarks assume significance as India is negotiating such agreements with countries such as the UK, Oman, and the European Union.

 

Speaking at the conclave, the UK's minister Lord Ahmad of Wimbledon said that British businesses are major investors in India and bilateral trade is growing between the two countries.

 

He also said the two nations are working on an ambitious free trade agreement and bilateral investment treaty.

 

'This will boost our trading partnership further... and (would) show the world that India and the UK are serious about trade and very much committed to prosperity at a global level,' Ahmad said adding huge business opportunities are there for Indian firms in the UK.

 

With the negotiations for the proposed India-UK free trade agreement reaching its last leg, a high-level Indian official delegation is in London to iron out the differences on remaining issues.

 

India and the UK launched the talks for a FTA in January 2022. There are 26 chapters in the agreement, which include goods, services, investments and intellectual property rights.

 

The bilateral trade between India and the UK increased to USD 20.36 billion in 2022-23 from USD 17.5 billion in 2021-22.

 

Tobias Lindner, Minister of State at the Federal Foreign Office, Germany, said the India-EU free trade agreement holds immense potential to amplify trade and foster trade-economic integration.

 

He added that the agreement would benefit private sector investments in Indian manufacturing and services sectors and provide access to Indian businesses to the world's largest single market.

 

The seventh round of India-European Union talks is underway here.

 

In June 2022, India and the EU restarted the negotiations for the long-pending trade and investment agreement after a gap of over eight years.

The government on Thursday permitted traders to export 54,760 tonnes of onion to Bangladesh, Mauritius, Bahrain and Bhutan till March 31. 'We have allowed export of 50,000 tonnes of onion to Bangladesh, 1,200 tonnes to Mauritius, 3,000 tonnes of Bahrain and 560 tonnes to Bhutan with immediate effect,' Consumer Affairs Secretary Rohit Kumar Singh told PTI.

 

Traders are allowed to export this quantity till March 31. The modalities are being worked out, he said.

 

Singh said the decision has been taken following a recommendation from the external affairs ministry.

 

Currently, there is a ban on onion exports till March 31. The ban was imposed on December 8, 2023, in order to boost the domestic supply and check price rise.

 

Agricultural and Processed Food Products Export Development Authority (APEDA) in a significant move to bolster India's organic export sector has created a dedicated organic promotion division for the promotion of organic exports. This division is now serving as a focal point for coordinating efforts to amplify the country's organic export potential.

 

The agri-promotion body is working towards enhancing Uttarakhand's organic sector through a comprehensive strategy. APEDA’s plan focuses on enhancing farming practices, optimizing certification procedures, and identifying prime export products. The ultimate aim is to elevate Uttarakhand's profile as a significant player in the global organic market.

 

Building on Sikkim's pioneering status as India's first fully organic state, APEDA is formulating a strategic roadmap to diversify exports and fortify sustainable practices. Leveraging Sikkim's unique strengths in the organic realm, the promotion body’s plan aims to elevate its prominence on the international stage.

 

With successful initiatives underway in Uttarakhand and plans shaping up for Sikkim, APEDA’s vision extends to replicating these strategies in more states. By targeting regions with substantial organic farming potential, the body aspires to create a network of thriving organic export hubs across India.

 

Further, in an endeavour to bolster the accessibility of organic products in international markets, the National Programme for Organic Production (NPOP) is undergoing significant updates. The forthcoming revisions in NPOP guidelines aim to harmonize with prominent global regulations and standards, including the EU Regulation. This strategic realignment is crafted with a foresight into ongoing and prospective Mutual Recognition Agreements. A pivotal aspect of this overhaul involves the modernization of NPOP's IT infrastructure. The revamped IT system is poised to offer a more resilient oversight mechanism, particularly focusing on Certification Bodies and their certified operators. The revamped IT System envisages provisions for geo-tagging of farms and geo-location of inspection visits.