Bangladesh has planned to import 10 lakh tonnes of wheat from India under the Government to Government contract, Food Minister Sadhan Chandra Majumder told the official news agency BSS on Tuesday.

 

He said that the food ministry has taken the necessary steps in this regard by sending an offer letter to India through the Bangladesh High Commission in Delhi. After the clearance from the Indian government, price fixation-related negotiation will be done with the Indian companies authorised to export wheat.

 

Earlier, Bangladesh completed a tender for the import of around 3 lakh tonnes of wheat from India out of which 1.5 lakh tonnes is being unloaded at the Chattogram port. The remaining consignment is also in the pipeline.

 

Bangladesh has an annual wheat demand for 75 lakh tonnes out of which 11 lakh tonnes are produced locally and the rest of it is imported. Russia, Ukraine, India and Canada are the main sources of the import of wheat for Bangladesh. It spent Taka 13,211 crore on the import of wheat in the FY 2020-21. Bangladesh is the largest importer of wheat from India.

For the first time, litchi produced in Malda is all set to be exported to other countries of the Middle East and Europe, thanks to the initiative of the district horticulture department and the state government.

 

Despite being in the export region for the last 15 years, unlike mango, this juicy fruit grown in Malda, especially the Bombai variety, is yet to be exported. However, it is learnt that requisition for the same from Bahrain and London have already reached here this year.

 

According to the horticulture department and exporters, they have begun preparations for the export in earnest. Horticulture department officials said around 10 tons of litchi will be exported to Central Asia and Europe this year. Officials of the West Bengal Exporter Co-ordination Committee, a major exporter of the state, have expressed interest in exporting the Malda litchi, it is learnt. The fruit from here will go to other countries through them. The horticulture department said a large quantity of the fruit has been cultivated in Kaliachak Block I, II and III, and Chanchal and Ratua Blocks. The fruit has already hit the market this year, and it is learnt that the demand for the fruit is good as it is being sold for Rs 60 to 70 per kilogram.

 

According to Liaqat Ali and Hafizul Sheikh, litchi farmers of the Mozampur area in ??Kaliachak I block, litchi grown in the district had not found the foreign market in the past. "We have learnt that litchi is being exported outside India this time. If this is the case, Malda litchi cultivation will help the farmers grow financially. The interest of farmers in litchi cultivation will also go up,' a farmer said.

 

Secretary of the State West Bengal Exporter Co-ordination Committee Ujjal Saha, said, 'After around 15 years, Malda litchi is going to be exported to Central Asia and Europe.

 

We have already planned to export 10 tons of litchi to Bahrain. Due to the cooperation of the state government, a large quantity of Malda litchi is being exported abroad this year. As a result, many farmers are likely to benefit financially. If we can capture the litchi market in foreign countries, the farmers here will be more interested in litchi production in the future and they will benefit financially, as the Bombai variety of the fruit with its big size, juicy and attractive colour can be a market leader.'

 

According to the Deputy Director of the district horticulture department, Samanta Layek, various steps like training of litchi growers and visits by exporters to orchards were conducted for the purpose with help from the APEDA. 'The pack house here is ready for the fruits to be treated, like sulphur fumigation, the post-harvest handling of the fruits to eliminate fungus from the skin of the litchi. We have got requisition for the fruit London and Bahrain so far,' he said.

 

The strategic relationship between India and the US is truly a 'partnership of trust' and the friendship will continue to be a 'force for good' for global peace and stability, Prime Minister Narendra Modi said during a bilateral meeting with US President Joe Biden here on Tuesday.

 

'Our shared values, and our common interests in many areas, including security, have strengthened the bonds of this trust. Our people-to-people relations and close economic relations also make our partnership unique,' Modi said in his remarks during the meeting with Biden on the sidelines of the Quad summit in Tokyo.

 

The PM said the trade and investment ties between the two sides are also expanding continuously, although it is still well below their potential.

 

'I am sure that the India-USA investment incentive agreement between us will see concrete progress in the direction of investment. We are increasing our bilateral cooperation in the field of technology, and also strengthening mutual coordination on global issues,' Modi said.

 

In his televised remarks, Modi said both the US and India share the same vision about the Indo-Pacific region and are working to safeguard the shared values and common interests not only at the bilateral level but also with other like-minded countries.

 

'Quad and IPEF (Indo-Pacific Economic Framework for Prosperity) announced yesterday are active examples of this. Today our discussion will give more momentum to this positive momentum,' he said.

 

'I am confident that the friendship of India and America will continue to be a force for good for global peace and stability, for the sustainability of the planet, and for the well-being of mankind,' Modi said.

 

Both leaders shared their views on a wide range of issues and discussed ways to deepen the India-USA friendship, the prime minister's office said.

 

In line with Washington's long-term vision for the region, Biden on Monday launched the ambitious Indo-Pacific Economic Framework for Prosperity (IPEF), which is an initiative aimed at deeper cooperation among like-minded countries in areas like clean energy, supply-chain resilience and digital trade.

 

'Advancing India-US Comprehensive Global Strategic Partnership Warm & wide-ranging talks held between PM @narendramodi and @POTUS @JoeBiden on bilateral, regional & global matters. Leaders noted with satisfaction the frequency of bilateral dialogues and engagements across levels,' ministry of external affairs spokesperson Arindam Bagchi tweeted.

 

The two leaders discussed ways to strengthen cooperation in trade, investment, technology, defence, people-to-people ties between the two countries. 'Concluded with substantive outcomes adding depth and momentum to the bilateral partnership,' he said.

The country's exports rose by 21.1 per cent to USD 23.7 billion during May 1-21, on account of healthy growth in various sectors, such as petroleum products, engineering, and electronic goods, an official said. During the second week of this month (May 15-21), the exports grew by about 24 per cent to USD 8.03 billion, the official added.

 

Petroleum products, engineering, and electronic goods' exports during May 1-21 expanded by 81.1 per cent, about 17 per cent and about 44 per cent, respectively.

 

The total figure for May is likely to be realised by the commerce ministry in June.

 

In April, the exports rose by 30.7 per cent to USD 40.19 billion. Imports during the month grew by 30.97 per cent to USD 60.3 billion.

India’s exports to Latin America reached a record high of 18.89 billion dollars in 2021-22 (April-March), according to the Commerce Ministry of India. The exports have increased by an impressive 48% from 12.74 billion dollars in 2020-21.

 

Brazil continued as the # 1 destination of India’s exports to the region, with 6.49 billion dollars, an increase of 53% from 2020-21.

 

Mexico was #2 with 4.42 billion dollars – an increase of 43%.

 

Argentina came back to claim the third position after many years, with 1.43 billion dollars – an incredible 107% increase from last year.

 

Colombia was #3 with 1.38 billion- increase of 59% from 865 million.

 

Chile joined the Billion Dollar Club for the first time with 1.18 billion, increasing by 47%.

 

The other major destinations were: Peru 898 million and Guatemala 552 m 

 

Exports to the other countries are in the table below.

 

Exports to the three major trade blocs in the region were: Mercosur were 8.28 billion, Pacific Alliance 7.88 bn, and CAFTA (Central America + Dominican Republic) 1.95 bn

 

India’s exports to some of the distant Latin American countries are more than the exports to neighboring countries or traditional trade partners with the same or more population. This is a trend of the last several years. Examples:

 

India’s exports of 552 million dollars to the distant Guatemala (population 11 million) are more than twice that of the exports of 198 m to the neighbouring Cambodia with a population of 16 million.

 

Exports of 318 m to the remote Honduras (population 10 m) are more than the exports of 235 m to nearby Kazakhstan with a population of 19 m.

 

Exports to Brazil (6.48 bn) are higher than to the traditional trade partners such as Japan (6.18 bn) and Thailand (5.7 bn)

 

Exports to Mexico ( 4.43 bn) are more than the exports to Canada ( 3.7 bn) and Russia ( 3.2 bn).  

 

Car exports

 

Car exports to Latin America were 1793 million dollars. This was 30% of India’s global car exports of 5.92 bn dollars. Mexico was the second largest global market for Indian cars with 941 m.  Other major destinations: Chile 337 m and Peru 115 m

 

Motorcycles

 

Exports of motorcycles were 909 million dollars. This is 30.5 % of India’s global exports of 2.99 bn. India was the second largest supplier of motorcycles to Latin America.

 

Major destinations were Colombia 309 million dollars,  Mexico 174 m, Guatemala 103 m and Peru 43 m. Colombia was the second largest global market for Indian motorcycles after Nigeria. Some years back Colombia was the # 1 destination. Indian brands are market leaders in Colombia and Guatemala.

 

Pharmaceuticals

 

Pharma exports increased to 1486 million dollars from 1196 m last year. India ranked as #6 supplier of pharmaceuticals to the region

 

Major destinations of India’s pharma exports:  Brazil 374 million dollars, Peru 105 m, Chile 153 m, Mexico 167 m, Colombia 103 m, Dominican Republic 67 m, Venezuela 102 m, Guatemala 64 m, Bolivia 46 m and Ecuador 34 m.

 

 India ranked as #3 supplier of organic chemicals to the region. 

 

Imports

 

India’s imports from Latin America were 25.62 billion dollars in 2021-22. Major suppliers were: Brazil 5.71 bn, Mexico 4.25 billion, Argentina 4.2 bn, Peru 2.71 bn, Colombia 2.96 bn, Chile 1.37 bn, Bolivia 2.07 bn, Ecuador 1.01 bn and Dom Republic 649 m, Panama 292 m, Uruguay 162 m  and Venezuela 89 m

 

Main sources of crude oil imports: Mexico 3.42 billion dollars, Brazil 2.25 bn, Colombia 2.32 bn and Ecuador 865 million.

 

Venezuela used to be the major source of oil imports in the region for the last fifteen years. But the US sanctions have drastically cut down the Venezuelan supply from its peak of around 10 billion dollars to just 89 m in 2021-22. There was no import in 2021-22.

 

Gold import sourcing: Peru 2.32 billion dollars, Bolivia 2.06 bn, Brazil 703 million, Dom Republic 600 m, Colombia 548 m, Argentina 465 m and Mexico 147 m.

 

Latin America is the main source of soy oil imports of India. Argentina, as usual, was the #1 global supplier of soy oil with 3.27 billion dollars, followed by Brazil 1.07 bn. 

 

Trade from 2010-11 to 2021-22

 

India’s exports had increased from 10.04 billion dollars in the beginning of the decade to 13.7 bn in 2014-15. But the Latin American recession and economic difficulties caused a dip in India’s exports in 2015-16. Since then the exports have increased steadily and in 2021-22 spectacularly.

 

India’s imports reached a peak of 31.38 billion dollars in 2012-13 due to the high crude oil prices and large volume of India’s imports from Venezuela. 

 

The annual India-Latin America trade in 2021-22 has exceeded the peak of 44.08 billion dollars in 2013-14

 

Target – 30 billion dollars

 

Latin America is a substantial market with 19 countries, population of 620 million and GDP of 6 trillion dollars. The Indian exporters are still in the stage of discovery and exploration of the huge potential of the region.

 

The Latin Americans seek to reduce their overdependence on China with which there is a huge trust deficit. As part of their diversification strategy, they attach importance to the large growing market of India which was the 7th largest destination of their global exports in 2021. They exported more to India than to their traditional trade partners such as Germany, France or UK. India was the #1 destination of Latin American exports of vegetable oil, #3 for gold, #4 for crude oil and #8 for copper.

 

India could set a target of 30 billion dollars in the next four years. This is easily achievable if the Indian exporters and the government intensify their export promotion seriously and systematically with adequate investment.

Living Food, India’s fastest-growing company that delivers 'insanely fresh,' locally-sourced, and high-quality produce to consumers in the shortest time possible is now delivering GI tagged Ratnagiri King Alphonso and Devgad Alphonso mangoes, across the country within less than 50 hours, directly from farm to the consumers’ doorsteps.

 

The customers can choose from 12 varieties of mangoes, i.e. – Langra, Chausa, Dussehri and Mallika from Uttar Pradesh, GI tagged Ratnagiri and Devgad Alphonso from Maharashtra,  Badami, Totapuri, Sindoori, Imam Pasand, Banganapalli and Raspuri from Karnataka,  sourced exclusively from their original destinations. Now a mango lover from Maharashtra or UP can experience the unique tastes of mango varieties that are grown only in Karnataka or Tamil Nadu. Living Food has also created an assorted box of all the 12 varieties each at a price of Rs. 1199 per box for one to get acquainted with the top varieties of mangoes at one go. An irresistible deal for the lovers of this king of fruits!

 

While Alphonso mangoes are available across the country, Devgad and Ratnagiri Alphonsos had acquired GI tag from the government in 2018 for their great taste and quality. They are considered to be one of the best mangoes in the world. Living Food has built its own supply chain and relies on technology to make it possible to deliver freshest mangoes to its customers anywhere in the country within just 50 hours. Their temperature-controlled trucks and packaging helps them preserve the high quality of fruits without the use of preservatives. The real-time end-to-end order tracking optimises the logistics and keeps the customer posted about the status of the fruits from harvest to the final delivery.

 

Living Food delivers chemical free fruits and vegetables directly from some of the top organic farms in the country practicing best, environment friendly ways of agriculture. The company is looking at selling more than a million mangoes across the country this year, highest amongst all the online players in the country. Also, the mangoes are shipped directly from the farms to the customers’ doorsteps. With such exclusive farm-to-fork partnerships, the farmers are set to make at least 10X more profits this year. This is much higher compared to the traditional supply chain where a lot of it gets lost in the mid-way.

 

Akash Sajith, founder & CEO of Living Food, said, 'India has a wide variety of local fruits that people are unaware of and are unable to taste due to supply chain challenges. Through Living Food, consumers in India have access to the best quality of fruits and vegetables today from their original sources where they are traditionally grown. And our direct partnerships with the farmers ensure they get their due share for all the hard work they put in over the year. It’s a win-win for all.'

Arunachal Pradesh Chief Minister Pema Khandu asserted that the state has huge domestic and international potential for trade as it shares borders with countries like Tibet (China), Myanmar and Bhutan.

 

He said in tandem with Government of India’s focus on Neighbourhood First Policy, the state’s trade relations can be further improved by using connectivity links like Pangsau Pass (with Myanmar) in the East and Lumla-Tashigang road (with Bhutan) in the west.

 

'By 2047, we should aim to make Arunachal Pradesh as a Gateway of Trade with our neighbours,' he said.

 

Khandu was speaking at the inaugural session of the one-day International Buyer Seller Meet (IBSM) at the DK Convention Centre

 

IBSM is being held for the second time in Arunachal Pradesh by the Agricultural and Processed Food Products Export Development Authority (APEDA), an apex body of Ministry of Commerce, to promote exports of potential agricultural and processed food products from Arunachal Pradesh and provide market linkage to producers. The first such meet in the state was held in 2019.

 

The ‘short distance market’, he said is the existing market within the state, which needs to be further strengthened by roping in the Indian Army and paramilitary forces, who are posted in the state in huge numbers, as potential buyers.

 

'While under the ‘middle distance market’ we can work on developing markets with rest of the country including states in the North East, we need to explore and open marketing avenues with neighboring countries,' Khandu explained.

 

Emphasizing on the need to promote sustainable and organic agriculture in the state, Khandu informed with only 17 persons per SqKm population density, Arunachal Pradesh has huge stretches of fertile land for cultivation.

 

'From the foothills to the snow-clad mountains, we have all the weather conditions suitable for agriculture and horticulture produces. And as we are geographically the largest state in the North East, we have ample scope to focus and improve in this sector,' he said.

 

He informed the gathering that the state government’s basic focus is on building a Atma Nirbhar Arunachal Pradesh by strengthening agriculture and allied sectors, enhancing the quality of output and improving livelihoods of the dependent population.

 

'By launching AtmaNirbhar Krishi Yojana and AtmaNirbhar Bagwani Yojana – two unique schemes wherein of the total project cost 40% is borne by the state govt, 40% provided as credit linkage from banks and only 20% contributed by the farmer – we aim to make Arunachal self-sufficient in food grains and emerge as fruit bowl of the country,' he said.

 

Underscoring the importance of GI (Geographical Indication) tag, which has become a powerful tool to depict the uniqueness and distinct characteristic of the product, while competing in the international market, Khandu requested the departments concerned to persue GI tagging of products in coordination with APEDA.

 

'Our Arunachal Oranges have received GI tag. We are the largest producers of Kiwi in the country and we have started exporting several other fruits. In order to popularise unique products from the state we should work towards identifying more such local products from agri-horti, textiles and handloom sectors which can be GI tagged,' he suggested.

Pitching India as one of the best investment destinations globally, Union Minister Piyush Goyal on Tuesday asked global business leaders at the World Economic Forum Annual Meeting to 'come to India and grow with India'.

 

Goyal, who has been meeting a host of global leaders here since Saturday, reiterated India's position as one of the world's most preferred investment destinations and told them about the massive scope and range of opportunities it presents to investors globally.

 

The Commerce and Industry Minister, who addressed a breakfast session on Tuesday morning, said there was so much interest in India among those present here that he was finding it hard to adjust his calendar, but was trying to accommodate everyone as all of them are important and are keen to make large investments.

 

On Monday evening, he also met John Kerry and discussed future tracks for India-US Climate and Clean Energy Agenda 2030 Partnership.

 

In his meeting with Deutsche Bank chairman-elect Alexander R Wynaendts, he discussed how the financial institution can further complement the Indian government's sustainable growth agenda.

 

The two leaders also explored how digitisation can aid businesses pursue environment, social and governance-linked goals.

 

He also addressed a global investors roundtable here.

 

His other meetings included those with Standard Chartered Bank Group CEO Bill Winters, Micron Technology CEO Sanjay Mehrotra and Brookfield Asset Management CEO Bruce Flatt.

Union Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal today asked Indian industry to procure locally wherever there is an opportunity so that domestic supply chains are fortified and become more resilient and the tendency to place excessive dependence on international supply chains is curbed.  He was addressing the 'Breakfast session Discussion on Trade 4.0' in Davos, Switzerland today.

 

Observing that the India story had been receiving a lot of enthusiasm across the world, the Minister said that in spite of constraints like Covid 19, chip shortages, conflict, rising commodity prices, container shortages and significant shipping and logistics issues that it has been facing in the last two years, which caused massive supply chain disruptions that threw the global economy off balance, Indian businesses had displayed great resilience, overshooting export targets and achieving USD 421.8 billion worth of exports.

 

Quoting the Prime Minister, Shri Narendra Modi, Shri Goyal said that India amongst all these problems is an oasis which reflects transparency, offers trust and timeliness and added that the nation had responded to every crisis in a timely manner. This responsiveness, he said, is a manifestation of the resilience that Indian businesses have to offer and the resilience and confidence of political leadership.

 

Speaking of the need for working together towards a shared vision, Shri Goyal expressed confidence that India could achieve a target of USD 1 Trillion worth of merchandise and services export each by 2030 if we worked as a team.

 

Noting that in the last 8 years, the government had focussed extensively on structural reforms the Minister said that each one of those movements has been holding India in good stead during times of crisis.

 

The Minister said that Digital India had helped India work during pandemic-induced lockdowns. He added that Missions such as Swacch Bharat, Jan Dhan-Adhaar-Mobile trinity, financial inclusion, Ayushman Bharat, vaccination programs etc. had helped prepare India for the next level of growth and engagement with the world. He underscored that the world could look at India as a reliable alternative to the status quo and invited manufacturing, investment and technology to come to India

 

He stressed that India had taken a series of strict measures to tame inflation, keep interest rates in check and rein-in rupee depreciation so that growth and prosperity are not affected.

 

He urged Indian industry to look at boosting value added exports and ensure that new jobs came into India instead of raw materials going out of India. Highlighting the serious efforts being made in that direction, the Minister said that the government was striving to ensure orderly behaviour of prices and ensure that businesses add value and jobs.

 

Stressing upon government’s bid to bring down logistics cost through measures such as PM GatiShakti, the Minister said that the National Master Plan would help improve infrastructure planning and ensure implementation of projects within time and budget.

 

Assuring that the government would wholeheartedly support businesses, the Minister urged industry to bring scale into all economic activities.

 

Expressing concern over the excessive dependence on international supply chains, Shri Goyal urged businesses to procure locally wherever there is an opportunity. He asked businesses to support each other and help fortify domestic supply chains.

 

Referring to Trade Agreements recently inked with UAE and Australia, the Minister said that these agreements were opening new frontiers in international trade. He added that agreements with Canada, EU, UK, Israel and GCC were in the pipeline. The Minister said that the world had great confidence in India and wanted to engage with it enthusiastically.

 

Touching upon the immense potential that the tourism sector held, the Minister asked for more players to come into the tourism sector. He added that trade, tourism and technology, the three headline items that all Indian Missions across the world have been asked to promote, had to take off so that India is recognized as a quality supplier of goods and services.

 

He also assured that every Indian mission had been tasked with supporting Indian industry and pitching for our businesses. Every Mission, every office, every official is now ready to stand for Indian businesses and that is what will spearhead trade 4.0, he added.

 

The Minister remarked that the government was on a mission to rewrite the script of a New India that is ready to play the leading role in global trade and asked investors to come invest in India, in its ideas, talent and limitless potential. India is the future, the Minister said.