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23 Jun, 2022 News Image Bangladesh to issue tender to import 50,000 T of wheat.
Bangladesh’s state grain buyer will issue an international tender to import 50,000 tonnes of milling wheat to replenish reserves, an official at the country’s grain purchasing agency said on Tuesday.
 
The deadline for submission of price offers is July 5, the official said, adding the tender will be uploaded on its website later on Tuesday.
 
Bangladesh is among importers hit by disruptions to Ukrainian and Russian grain exports and surging prices of wheat and other commodities caused by the conflict between the two countries. GRA/
 
The country’s wheat imports suffered again after India imposed a ban on the grain.
 
Price offers in the latest wheat tender are sought on CIF liner out terms. These terms include ship unloading costs for the seller.
 
Shipment is sought 40 days after the date of contract signing. The wheat can be sourced from any worldwide origins except Israel and is sought for shipment to two ports, Chattogram and Mongla.
 
Bangladesh imports around 7 million tonnes of wheat to meet local demand.

 Source:  hellenicshippingnews.com
23 Jun, 2022 News Image 'Indian economy expected to grow by 7.5% this year': PM Modi at BRICS Business Forum.

India is expecting a 7.5 per cent economic growth rate this year, said Prime Minister Narendra Modi on June 22 as he underlined the role of BRICS countries amid the global focus on post-COVID recovery. While addressing BRICS Business Forum PM Modi said, 'To deal with the economic problems arising out of the pandemic, we adopted the mantra of Reform, Perform and Transform in India and the result of this approach is evident from the performance of the Indian economy. This year we are expecting 7.5 per cent growth which makes us the fastest-growing major economy,' PM added.


 Source:  economictimes.indiatimes.com
23 Jun, 2022 News Image In a first, Jharkhand s mangoes showcased in international platform.
In a proud moment for local mango growers of the State, first time in the history of Jharkhand local varieties of mango are being showcased in international platform in Agricultural Processed Export Development Authority (APEDA) organized a seven-day long Promotion Program for Mangoes from the Eastern Region of India at the Kingdom of Bahrain started from June 13.
 
APEDA Eastern Region Head, Sandip Saha informed that with the focus to emphasize on the lesser-known mango varieties of eastern region and some of them bearing Geographical Indication (GI) tag. The event was jointly inaugurated by the Indian Ambassador, Piyush Agarwal, Secretary, APEDA, Dr Sudhanshu and Chairman, Al-Jazira Group BSC, Bahrain Abdul Hussain Dawani, he added.
 
Saha further informed that the event has been planned in such a way that 34 varieties of mangoes procured apart from two varieties of Jharkhand mangoes from other states like West Bengal it is 27 varieties, from Odisha two varieties, from UP one variety and from Bihar two varieties sent by the exporter to showcase at 8 numbers of different stores of the importer continuously for eight days beginning from June 13 to June 20. The entire supply of 8 Metric Tonnes of mangoes would be sent by the exporter in three phases from Centre for Perishable Cargo (CPC) Kolkata Airport, he added.
 
'After continuous effort over the last some years this year we have been successful in sending for the first time, the varieties of Jharkhand, Biju, 50 Kgs and Kamli, 50 Kgs have also been exported. One of the APEDA registered exporters, M/s DM Enterprise from Kolkata has sent the 34 varieties of mangoes to their importer client M/s Al-Jazira Group BSC, The Kingdom of Bahrain,' said Saha.
 
The APEDA Regional Head further said that such export promotion activity may open new horizons for the farmers and exporters to start sending the indigenous and unique varieties of mangoes and thus help in the mandate of the Government to raise the farmers’ income.

 Source:  dailypioneer.com
23 Jun, 2022 News Image Iranian FM travels to India to upgrade ties.
Iran’s Foreign Minister Hossein Amir-Abdollahian visited New Delhi June 8-10, where he met with his Indian counterpart Subrahmanyam Jaishankar, Prime Minister Narendra Modi and national security advisor Ajit Kumar Doval. Considering that discussions were held at the highest level, it seemed like an effort to reset India-Iran ties.
 
Trying to put together a more broad-spectrum partnership, Amir-Abdollahian spoke about drawing up "a road map for long-term cooperation between the two countries.' Mulling over a slew of key issues like energy trade, promoting Chabahar port and extending regional connectivity, Modi expressed hope for an upgrade in bilateral ties.
 
Evaluating the status of India-Iran ties, a European diplomat posted in Islamabad told Al-Monitor, 'Amir-Abdollahian’s New Delhi visit should be seen in the context of broader developments potentially affecting the relationship between the two countries.'
 
Speaking on condition of anonymity, he said,' Despite ups and downs in past years on issues like Chabahar, the railway line connecting it to Zahedan in Iran’s Sistan-Baluchistan province, Farzad-B gas field and India’s import of Iranian oil — mostly due to external variables [US sanctions against Iran] — Tehran and New Delhi realize there still are some areas to work on.'
 
Mainly, cooperation was sought in these sectors.
 
First, as negotiations to revive the Joint Comprehensive Plan of Action (JCPOA) deal have yielded no result, Tehran has started working on backup plans for continuing trade under sanctions. According to reports, discussions between Amir-Abdollahian and the Indian top hierarchy have focused on energy, with 'special heed' paid to the capacities in oil, petroleum and gas that exists within Iran.
 
Iran used to fulfill 10% of India’s oil requirements, but since May 2019 New Delhi has stopped all its oil imports from there due to US sanctions. However, New Delhi is now importing oil and weapons from Russia, even though Moscow has also been hit by sanctions after its invasion of Ukraine. Consequently, Iran could also request India to buy its crude oil the same way it is importing from Russia.
 
The diplomat noted, 'As Tehran realizes that the revival of the JCPOA will be difficult — if not impossible — to achieve and US sanctions will not only remain but possibly expanded, it looks with interest toward Indian 'strategic autonomy' as it keeps importing oil from Russia despite the sanctions imposed on it. From Iran’s side, there is hope that a potential change in India’s approach vis-a-vis US sanctions — by resuming import of Iranian oil — would encourage other countries to follow the same path.'
 
Not very optimistic about the resumption of oil trade with New Delhi, Ashok Swain, professor of peace and conflict research at Uppsala University in Sweden, told Al-Monitor, 'India is very much interested in buying cheap oil from Iran, but that looks very unlikely due to continuing sanctions on Iran. The United States and Iran have failed to renegotiate the nuclear deal, and there is every sign that Iran’s relations with the United States will worsen. Iran’s strengthening of relations with China and Russia also puts it in another camp when India is trying its best to align with the United States security-wise.'
 
Second, since trade with Iran would mean circumventing the US sanctions, the two sides explored recognized legal ways and means to avoid the Swift banking system, such as barter trade or settling trade transactions in the Indian rupee. For this, a new banking mechanism would be devised and Tehran has already implemented similar measures with almost a dozen countries.
 
At a World Trade Center event, Amir-Abdollahian said, 'Yesterday, we discussed with Indian high-level officials a special need with my colleague the external (affairs) minister on the need to establish a banking mechanism. … There are 'ample opportunities' for India and Iran irrespective of the 'unilateral sanctions' by the United States, which will not last long.'
 
Third, fresh opportunities for Iran-India-Afghanistan collaboration have emerged. When the Taliban came into power in August 2021, the Indian Embassy in Kabul had closed, as New Delhi sided with the outgoing Karzai administration. However, an Indian delegation visited Kabul last month and the resumption of stalled infrastructure projects and reactivation of diplomatic ties seems possible now.  
 
Assessing this development, the diplomat said, 'Afghanistan, Tehran and New Delhi now have an opportunity of convergence after the recent contacts between India’s officials and the Taliban, as New Delhi sees Iran as a viable route to Afghanistan. In the medium term, Iran will continue to support a regional approach vis-a-vis the Taliban, as there are some issues to be clarified with them, starting with the perceived 'lack of inclusivity' of the current set-up in Kabul.'
 
Since 2016, a trilateral agreement has existed between Tehran, Kabul and New Delhi, and head of Iran's railways held a meeting recently with the head of Afghan's railways to discuss the relaunch of the Khaf-Herat route.
 
Finally, Iran and India reaffirmed their commitment to develop Chabahar port as a regional transit hub. Though the port was spared by US sanctions, India could not complete construction on time and highlighting the 'sluggish' pace of work there, Amir-Abdollahian observed that the port has immense potential for expanding trade and economic ties.
 
In response, Jaishankar said that joint efforts would be required to expand a few more transit routes and regional corridors. Both sides decided that there was a need to 'precipitate' investment in Chabahar. If the International North-South Transport Corridor (INSTC) connecting India, Iran, Afghanistan and Russia to Central Asia is fully launched, it provides New Delhi with an alternate route as it cannot cross Pakistan by land.
 
Nevertheless, the diplomat added, 'The INSTC's full potential will be realized only if sanctions get lifted and Chabahar port becomes a strategic gain for India due to Chinese investments in Gwadar. However, Tehran has repeatedly avoided giving any strategic dimension to Chabahar, stating its willingness to open the door for its future development to other countries as well, including China and Pakistan.'
 
Not very hopeful about Chabahar’s progress either, Swain noted, 'The continuation of the sanctions regime on Iran also takes away any hope of reviving the Chabahar port project. Overall, the visit of the Iranian foreign minister to New Delhi will not bring any miracles and improve India-Iran relations. On the other hand, global power politics will most likely put the relations between these two countries to a severe test.'
 
This month, Iran’s state-run shipping company started its first transfer of Russian goods to India, using this trade corridor.
 
Dwelling on divergences between the two countries, he concluded, 'India has been for some time trying to maintain a balance between its relations with Israel and Iran. The visit of Iran’s foreign minister to India took place only a week after the visit of the Israeli defense minister. However, the India-Iran relationship is facing multiple challenges, and there is very little hope of any improvement in the near future.'

 Source:  al-monitor.com
23 Jun, 2022 News Image PLI scheme to put India on firm footing in global value chain: Amitabh Kant.

The production-linked incentive (PLI) scheme will help put India on a firm footing in the global value chain by creating competitive firms, NITI Aayog chief executive officer (CEO) Amitabh Kant told Nikunj Ohri in an interview. The total investment committed under the PLI scheme now amounts to Rs 2.54 trillion, and is expected to create 5.9 million direct jobs. For India’s economic transformation, all sectors of the economy will have to grow, not just manufacturing or services, Kant said, adding that manufacturing and exports have played a key role in transformation of economies such as Japan, South Korea and China, and India must learn from their experience. 


 Source:  business-standard.com
23 Jun, 2022 News Image Mega Buyer-Seller Meet in Guwahati under One District One Product Initiative, in collaboration with Ministry of DoNER.
With the vision to promote sustainable trade and create market linkages, a mega buyer-seller meet was organized at under One District One Product initiative of Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry with the support of Ministry of Development of North East Region (MDoNER) and its PSUs, North Eastern Handicrafts and Handloom Development Corporation (NEHHDC) and North East Regional Agriculture Marketing Corporation Limited (NERAMAC). The meet focussed on agricultural products from the eight states of the North Eastern Region and witnessed the presence of multiple national and International Brands.
 
Over 70 sellers, traders, farmers, aggregators from various districts of each of the NE States - Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, and Sikkim - showcased their products to the buyers at the meet in Guwahati. Products included Meghalaya’s world-famous Lakadong Turmeric with more than 7% curcumin content, the GI Tagged Large Cardamom from Sikkim and Queen Pineapple from Tripura, Orthodox Assam Tea, Manipur’s Black Chakhao Rice and more. These products have been showcased to over 30 large buyers representing big brands such as Reliance and ITC, as well as upcoming start-ups in India.
 
The keynote address for the event was made by Shri Lok Ranjan, Secretary, Ministry of Development of North Eastern Region in the presence of officials and subject matter experts from the Agricultural and Horticultural Departments of the various state governments.  Shri. B. Ramanjaneyulu, Director DPIIT, Shri. Manoj Kumar Das, Managing Director, NERAMAC, and Brig R K Singh, Managing Director, NEHHDC were also present.
 
NERAMAC which has been set up to support farmers/ producers from the North Eastern Region has been working to bridge the gap between farmers and the larger market. Thus, its role in the current Buyer-Seller Meet in collaboration with the ODOP Initiative has been critical. Through the joint efforts, the best-in-class products from the region are being matched with big brands to improve the earning potential of farmers. Focused trade discussions were also facilitated between the buyers, sellers and the State Government representatives from all the 8 NER states. Additionally, Letters of Intent (LOI) worth Rs. 6 crores were signed during the event.
 
The above is a direct outcome of the vision of Aatmanirbhar Bharat (Self Reliant India). DPIIT, under its initiative of One District One Product, which is working to ensure creation and sustenance of such linkages with a strong focus on increasing farmers income. With over 700 products cutting across sectors like agriculture, textiles, handicrafts, and manufacturing, the ODOP Initiative seeks to select, brand, and promote one product from every district of the country. This is marked by a key role to coordinate, create collaborative networks, and enable handholding of buyers and sellers for the larger aim of trade promotion and facilitation.

 Source:  pib.gov.in
23 Jun, 2022 News Image Norms notified for non-alcoholic counterparts of alcobev & flavoured beer.
FSSAI has notified the Food Safety and Standards (Alcoholic Beverages) First Amendment Regulations, 2022, wherein the food authority has made provisions for ‘non-alcoholic counterparts of alcoholic beverage’ and ‘flavoured beer’ in the FSS (Alcoholic Beverages) Regulations, 2018.
 
The regulations make provisions for ‘non-alcoholic counterparts’ in the Part 1 of the Alcoholic Beverage Regulations of 2018 wherein it defines such beverage and requirement to be claimed as ‘non-alcoholic counterparts’ and the alcoholic content at 0.5%.
 
The regulations say, 'Non-alcoholic counterpart of alcoholic beverage' means non-alcoholic beverage having alcohol content less than or equal to 0.5% alcohol by volume, which shall meet all the requirements of respective alcoholic beverage of origin except the ethyl alcohol content. '
 
Additionally, the notification says that the alcoholic beverage of the origin must undergo the process of fermentation and the produced alcohol is removed thereafter.
 
Also, about beer, the notified amendment regulation added provisions for flavoured beer in Part 4 of the Alcoholic Beverage Regulations of 2018 related to beer.
 
The amendment says, 'Flavoured Beer: Beer containing flavours as per the provisions of the Food Safety and Standards (Food Products Standards and Food Additives) Regulations, 2011, and such beer shall meet all the other requirements of the beer, as specified under these regulations.'
 
These regulations shall come into force on the date of their publication in the official gazette, the notification adds.

 Source:  fnbnews.com
23 Jun, 2022 News Image Maize shipments rebound, top $1 billion in 2021-22.
Maize (corn) exports from India rebounded sharply in 2021-22 to top $1-billion mark after a gap of seven years.
 
Shipments had touched a nine-year low of $142 million in 2019-20 before staging a sharp rebound over the last two years on surging demand for the coarse cereal from South and South-East Asian countries such as Bangladesh, Vietnam and Malaysia.
 
According to Agricultural and Processed Food Products Export Development Authority (APEDA) data, maize shipments for 2021-22 stood at $1.02 billion — up 61 per cent from $634 million the previous fiscal.
 
Lower supplies from South American producers such as Argentina and Brazil over the past two years worked in favour of Indian exporters, resulting in higher demand from consuming countries in South-East Asia such as Vietnam and Malaysia among others.
 
Sluggish demand
India’s maize exports have jumped from 3.7 lakh tonnes (lt) in 2019-20 to 36.90 lt in 2021-22. In the current financial year, though shipments were up 21 per cent during April at 2.51 lt over the same period last year, overall Indian exports may slow down on sluggish demand from Bangladesh and Vietnam and a rebound in supplies from South American producers — Brazil and Argentina.
 
Bangladesh has emerged as the largest buyer of Indian maize over the past two years, displacing Nepal. Bangladesh, which bought less than 10,000 tonnes from India in 2019-20, bought over 15 lt over the last two fiscals.
 
Similarly, Vietnam — which bought 1,893 tonnes in 2019-20 — stepped up its purchases from India significantly to 4.98 lt in 2020-21. Further, Vietnam more than doubled it purchases to11.8 lt last fiscal. Malaysia, which bought around 1.12 lt during 2020-21, more than doubled its purchases during 2021-22 to 2.66 lt, while Nepal also stepped up its purchases to over 5.87 lt.
 
Turning competitive
India’s maize production has witnessed a steady increase over the past decade from around 21.76 million tonnes in 2011-12 to over 33 million tonnes in 2021-22, as per the third advance estimates. For the current kharif cropping season, the Centre has set a maize production target of 23.10 million tonnes higher than 22.65 million tonnes produced during the season last year. The MSP for maize has been increased to Rs.1,962 per quintal for 2022-23 compared with Rs.1,870 in the previous year.
 
'The Indian maize turned competitive during 2020-21 after the spread of Covid, which led to demand destruction in the domestic market. At the same time, supplies shrunk from South America with bad weather hurting the production in the region resulting in higher demand from Vietnam and Malaysia among other countries,' said Indrajit Paul, Senior Manager Commodity Research at Origo E-Mandi.
 
However, Paul said the demand has slowed down in the current financial year from Bangladesh and Vietnam, which may result in lower shipments. 'We expect the maize shipments to come down by half a million tonnes this year,' Paul said.

 Source:  thehindubusinessline.com
22 Jun, 2022 News Image Algeria tenders to buy nominal 50,000 tonnes soft milling wheat, traders say.
Algeria’s state grains agency OAIC has issued an international tender to buy soft milling wheat to be sourced from optional origins, European traders said on Sunday.
 
The tender sought a nominal 50,000 tonnes but Algeria often buys considerably more in its tenders than the nominal volume sought.
 
The deadline for submission of price offers in the tender is Tuesday, June 21, with offers having to remain valid until Wednesday, June 22.
 
The wheat is sought for shipment in two periods from the main supply regions including Europe: Aug. 1-15 and Aug. 16-31.
 
If sourced from South America or Australia, shipment is one month earlier.
 
Algeria is a vital customer for wheat from the European Union, especially France.

 Source:  hellenicshippingnews.com
22 Jun, 2022 News Image India-ASEAN: Moving towards comprehensive strategic partnership.
The year 2022 marks the 30th anniversary of dialogue relations between ASEAN and India. A relationship that started in early 1990s, with the inception of new global realities, now has turned into a robust, strategic partnership. In the sideline of the Special ASEAN-India Foreign Ministers Meeting in Delhi on 15 June, the Minister of External Affairs (MEA) in collaboration with the ASEAN-India Centre (AIC) at Research and Information System for Developing Countries (RIS) organised the 12th Delhi Dialogue (DD XII).
 
Delhi Dialogue is India's premier annual track 1.5 international conference bringing together dignitaries, senior officials, business leaders, scholars, academicians and eminent persons of India and ASEAN to discuss ways to further strengthen the ASEAN-India Strategic Partnership. Launched in 2009, eleven editions of the Dialogue have been held so far and the 12th one just concluded on 16-17 June 2022. Over 200 participants including 16 leaders and senior officials and 50 senior research scholars and diplomats attended the 12th edition of the DD XII. DD XII’s theme was 'Building Bridges in Indo-Pacific'. This is highly appropriate at a time when Indo-Pacific countries are coming together to build a rules-based global order, to bring climate sustainability and to strengthen lives and livelihoods.
 
Foreign policy dimensions have been changing fast, so also the agenda of Delhi Dialogues. DD XII had seven plenary sessions and one ministerial on contemporary issues of the Indo-Pacific. It was great show as well as a dialogue which had made a collective effort to bring scholars, practitioners, thinkers and diplomats together from India and Southeast Asia.
 
Indo-Pacific is an interconnected geography where ASEAN is at core. In recognition of the centrality of ASEAN in India’s Vision of the Indo-Pacific and in commemoration of the thirty years of ASEAN-India relations, the objective of the current edition of the Delhi Dialogue was to identify further areas of cooperation leading to further strengthening of the strategic partnership between India and ASEAN.
 
Both ASEAN and India believe that openness, inclusiveness, rules-based order, freedom of navigation and peaceful settlement of disputes lie at the very core of the Indo-Pacific. There is considerable convergence in both the Indian and the ASEAN conception of the Indo-Pacific. Both India and ASEAN emphasize connectivity in the Indo-Pacific and underline cooperation over rivalry. India is consciously working with ASEAN towards a vision of an open and inclusive Indo-Pacific in tandem with initiatives such as the Act East Policy (AEP), and Indo-Pacific Oceans Initiative (IPOI), to ensure Security and Growth for All in the Region (SAGAR). India and some of the ASEAN countries are also members of the recently launched the IPEF.
 
What the Indian Foreign Minister said at the special ASEAN-India ministerial: 'Under the current global uncertainties, as we review our journey of the last 30 years and chart our path for the coming decades, it is important that we identify a new set of priorities while ensuring the early realization of our ongoing initiatives.' This DD XII has come out with new agenda and a set of recommendations. Today’s DD XII has opened up fresh and contextual perspectives on ASEAN-India relations
 
The Covid-19 pandemic has seriously impacted the economies of Indo-Pacific. Challenges have multiplied manifold but it has also opened up new opportunities for cooperation. The international community is now more concerned about sustainability, environment, healthcare, digital connectivity, cyber security, resilient global and regional value chains and education. Dr Prabir De, who was coordinating the DDXII, told us 'Building Bridges in the Indo-Pacific at such a challenging time is aimed to pave the way for deeper integration by narrowing the differences between the nations. In this Delhi Dialogue, speakers from the ASEAN member states and India shared their perspectives on these crucial issues together and discussed the most pressing challenges of our time.'
 
In Indo-Pacific region, the value lies in its core underlying idea which is that it is predominantly maritime in nature and is also the centre of geo-politics. Concept of competition, control and conflict is not seen to work here. Land boundaries could be easily demarcated, but such is not the case in case of oceans. Sea is life line of trade and 50 per cent of global trade passes through Indo-Pacific. Free, open and inclusive seas are important. Transnational nature of challenges and no nation can tackle them alone given their maritime geography.Cooperation is the only way forward. Problems of land spill over to the seas and inter- and intra- land disputes are major challenges. While attending the DDXII, Admiral R HariKumar, Chief of the Naval Staff (CNS) said 'Maritime security is becoming a collective responsibility. Terrorism at sea, drugs, smuggling, natural disasters etc. affect all in the region. Maritime security may include coordinated patrols, bilateral and multilateral excises.' ASEAN and India need to inculcate habits of cooperation by forward leaning and strengthen institutional mechanisms
 
Prevention of regional hegemony to maintain peace and stability is needed. Ambassador Pou Sothirak said 'Dialogue on hard security issues should be initiated by India.' Common interests should be promoted rather than focusing on individual visions. Collective dialogue is required. Synergy is required for expanding cooperation between India and ASEAN.
 
India does not see Indo-Pacific a club of limited members but sees it as an inclusive region. Extended global supply chains have crumbled due to pandemic and the crisis in Ukraine. The post-pandemic lessons has impacted humanity all across the globe as there was a disruption of all nature (supply side, food, vulnerabilities, health care etc.,) and Ukraine crisis has called for nationalism and protectionism Cooperation in Indo-Pacific can help in this regard.
 
Makato Kojima suggested that we should ensure the stability and prosperity of the Indo-Pacific region, it is vital to maintain or bolster its free and open maritime order. The pandemic necessitates the need to think about alternate supply chains, connectivity and infrastructure development.Therefore, strengthening regional/physical connectivity (India – ASEAN, Indo-Pacific) is a prominent link for development.Enhancing policy prioritization for sustainable finance and growth through five key enablers, namely, resilience building, market solutions and development, infrastructural enablers, capacity building and broad stakeholder collaboration is essential
 
Roland Rajah of Lowey Institute said 'India – ASEAN partnership has strategic importance in the Indo-Pacific region and the regions also require Regional Trading arrangements.'Building back stronger from the pandemic requires both factor market reforms and banking sector reforms. Both of the reforms are institutionally and politically difficult in certain ways. 'However, climate change reforms (green structural reforms) along with digitalization/possibilities that digitalization provides need big push.' said Sabyasachi Kar, Professor at the IEG.
 
ASEAN and India should continue with facilitation of trade, investment and value chains in the post-pandemic recovery and rebuilding. 'China Plus One approach on diversification of trade, resilient supply chain has now become an intrinsic part. Resilience is an important component of international trade' said by Rajeev Kher, Former Commerce Secretary. QUAD started as a security formation is now infused with economic content, and the IPEF launched by the US has gained centre stage. Special remarks was delivered byASEAN Secretary General Dato Paduka Lim Jock Hoi. There is a need to make the market open and make use of non-tariff options to boost exports, make movement of goods made easyand ultimately promote trade in the region.
 
Trade hostilities between some countries are likely to increase. Dato Ramesh Kodamal, Co-chair, AIBC said 'ASEAN-India FTA has not been reviewed for the last 10 years, and the review is needed for trade to move forward'.'Resilient supply chains are needed for resilient future.Australia imports around 90 per cent of medicines and therefore becomes vulnerable in case of a supply chain disruption.' said by Dipen Rughani, Founder and CEO of Sydney-based Newland Global Group.
 
Global order is changing very fast. There is a change in the global governance of power, which has disrupted or set a push back against globalization due to some extent. The political will is strong. Asia – Pacific order may slowly but surely be giving way to the Indo – Pacific. Union Minister of State Rajeev Chandrasekhar said 'India’s Digital India Programmeacted well as a response to the pandemic. Therefore Digital Economy, Digital Cooperation and Digital Partnership which ensures quality, depth, longevity and sustainability is crucial.'
 
ASEAN-India digital partnership is important as a link to trade-security partnership. There are tremendous opportunities for Indian and ASEAN countries to capitalize in tech as the future of tech is real. 'Indo-Pacific countries require investments in building the digital infrastructure and services to more inclusiveness across counties within country too.' said by Mana Sothichak of the Lao PDR. Telecommunications play a significant role in shaping the digital financial architecture. The TCIL is working on two important digital initiatives like e – vidya bharathi and e – arogya bharathifunded by MEA.
 
Renewable sources provide the cheapest energy and we need cost effective storage. Indo-Pacific region has the potential for energy growth. Energy is the prime contributor for all activities, speed and scale needs to be present in making a transition to renewable energy. Union Minister of Power, New & Renewable Energy R K Singh said 'Energy is essential for growth and development is not possible without energy'.
 
Development requires carbon space for the developing countries. India is working towards providing energy to all. Energy trade is present with all neighbouring countries including Nepal, Bhutan, Bangladesh, and energy trade is expected to happen with Sri Lanka and Myanmar.
 
India and ASEAN need to collaborate on energy transition,where countries share similarities in both potential and challenges. India has already taken steps towards solar energy with the ISA and initiative of One World One Sun One Grid (OWOSOG). ASEAN power grid NSE -0.24 % has huge potential in line with India’s initiative OWOSOG. At the same time, monetary and capacity building collaboration are required.
 
Energy insecurity, food insecurity, water insecurity coastal flooding, urban heat stress and wildfires are likely to be major issues. Build bridge between India-ASEAN to adapt to climate change and mitigation. 'Indo Pacific is a high-risk region and need to turn to green sources is required.' said by Hezri Adnan, Executive Director of Kuala Lumpur-based think-tank MIER, International cooperation is required in the field of energy such as ASEAN-India Green Fund and ISA initiatives.
 
India and ASEAN has taken initiative towards achieving Net Zero targets in the last COP26. India’s ranking in climate change performance has improved since 2014 because of greater investment in renewable energy. India and ASEAN must aim to realign their energy, innovation and trade policies. Establishing solar and green hydrogen value chains is another feasible option. Thuta Aung, Executive Chairman of the The Mandalay Forum for East Asian Studies said 'Solution for next 10 years should be based around Crafting Climate Cooperatives'.
 
It is necessary for the public and private sector of ASEAN, India, and East Asia to 'Work together' to the improvement of environment for digitalization. The technical issues in materializing the ASEAN – India cooperation fund have to be streamlined.
 
In his Special Remarks by SA Vigneswaran, Malaysian Prime Minister's Special Envoy to India and South Asia said 'There is a need for India to cooperate with ASEAN. ASEAN-India One Stop Information Gateway may be set up for addressing concerns of the MSMEs. Implementation of activities should be done through ASEAN parliamentarians also to make it more effective'. Malaysia is with India in building deeper partnership with ASEAN as well as Indo-Pacific.
 
In his Valedictory Address, Rajkumar Ranjan Singh, Union Minister of State of External Affairs and Education said 'Need to work on ways to develop suggestions into tangible outcomes'. In the middle of global challenges, ASEAN-India partnership is a source of balance and harmony in the system.Nonetheless, India must deliver more through the comprehensive strategic partnership, which has been adopted at the special meeting of ASEAN-India Foreign Ministers.

 Source:  economictimes.indiatimes.com