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05 May, 2022
PM Modi meets Iceland counterpart in Denmark; discusses ways to boost ties.
COPENHAGEN: Prime Minister Narendra Modi on Wednesday met his Iceland counterpart Katrin Jakobsdottir and discussed ways to boost ties in areas like trade, energy and fisheries.
Modi, who arrived here on Tuesday from Berlin on the second leg of his visit to three European nations, met Jakobsdottir on the sidelines of the second India-Nordic Summit in the Danish capital.
'Prime Minister @narendramodi held talks with PM @katrinjak of Iceland. They discussed boosting ties in areas like trade, energy, fisheries and more,” the Prime Minister's Office tweeted.
Both Prime Ministers warmly recalled their first meeting during the 1st India-Nordic Summit in Stockholm in April 2018. They noted that this year both countries are celebrating the 50th anniversary of establishment of diplomatic relations.
'Both leaders discussed ways to further strengthen economic cooperation especially in the sectors of geothermal energy, Blue Economy, Arctic, renewable energy, fisheries, food processing, education including digital universities, and culture,' the Ministry of External Affairs (MEA) said in a press release.
Geothermal energy, in particular, is an area where Iceland has special expertise, and both sides stessed on collaboration between universities of both countries in this sector.
'Discussions also took place on regional and global developments,' it added.
Modi's visit comes amid the Ukraine crisis, which has united much of Europe against Russia.
Prime Minister Modi lauded Jakobsdottir's personal efforts at promoting gender equality and briefed her on India's advances on the issue, the MEA said.
Discussions also took place on expediting the India-European Free Trade Association (EFTA) trade negotiations.
'Explored ways to intensify our economic ties in renewable energy, fisheries, food processing. Welcomed collaborative projects in geothermal energy in India. Also discussed cooperation in the Arctic,' MEA spokesperson Arindam Bagchi tweeted.
Modi would also attend the 2nd India-Nordic Summit along with Prime Ministers of Denmark, Iceland, Finland, Sweden and Norway where they will take stock of the cooperation since the First India-Nordic Summit in 2018.
'Today's agenda includes the India-Nordic Summit and bilateral talks with Nordic leaders after which I will leave for Paris to hold talks with President @EmmanuelMacron,' Modi tweeted before starting his engagements for the day.
India's trade with Nordic countries stands at over $5 billion (2020-21) and a cumulative FDI of over $3 billion
Source:
timesofindia.indiatimes.com
05 May, 2022
PM Modi holds bilateral meetings with Nordic leaders.
Prime Minister Narendra Modi on Wednesday held a series of bilateral meetings with his counterparts from Norway, Sweden, Iceland and Finland during which he discussed with them ways to further deepen bilateral ties and also exchanged views on regional and global developments.
Mr. Modi, who arrived here on Tuesday from Berlin on the second leg of his visit to three European nations, met the four Nordic leaders on the sidelines of the second India-Nordic Summit in the Danish capital.
He began his day by meeting Norwegian counterpart Jonas Gahr Store during which the two leaders took stock of the full range of bilateral relations.
'Had a productive meeting with PM @jonasgahrstore of Norway. Our talks included furthering cooperation in sectors such as the blue economy, clean energy, space, healthcare and more. Norway is a key pillar of India’s recently announced Arctic Policy,' Mr. Modi tweeted.
This was the first meeting between the two leaders.
'Both Prime Ministers reviewed the ongoing activities in bilateral relations and discussed future areas of cooperation,' the Ministry of External Affairs (MEA) said.
Discussions also took place on regional and global developments. As members of the UN Security Council, India and Norway have been engaging with each other in the UN on global issues of mutual interest, it said.
Mr. Modi's visit comes amid the Ukraine crisis, which has united much of Europe against Russia.
'Both leaders discussed the potential for deepening engagement in areas like Blue Economy, renewable energy, green hydrogen, solar and wind projects, green shipping, fisheries, water management, rainwater harvesting, space cooperation, long term Infrastructure investment, health and culture,' the MEA said.
Mr. Modi also had a 'wonderful meeting' with Swedish counterpart Magdalena Andersson during which they discussed ways to deepen bilateral ties and the progress in the Joint Action Plan. This was the first meeting between the two leaders.
'We discussed ways to deepen bilateral cooperation in key sectors like security, IT, research and innovation. Strong ties between our nations will benefit our people,' Mr. Modi tweeted.
The two leaders held extensive talks on further diversifying the India-Sweden friendship, the Prime Minister's Office said.
During the meeting, the two leaders took stock of the progress in the Joint Action Plan and also appreciated the expanding scope of the jointly launched LeadIT initiative, MEA spokesperson Arindam Bagchi said.
During the 2018 visit of Prime Minister Modi to Sweden, the two sides adopted a wide-ranging Joint Action Plan to take forward a wide range of initiatives in defence, trade and investment, renewable energy, smart cities, women’s skill development, space and science and healthcare etc. The two sides had also signed a Joint Innovation Partnership.
'Discussions also took place on regional and global developments,' the MEA said, adding that the two leaders expressed satisfaction at the progress made by the LeadIT initiative.
This was an India-Sweden joint global initiative to set up a Leadership Group on Industry Transition (LeadIT) in September 2019 at the UN Climate Action Summit to help guide the world’s heaviest greenhouse gas emitting industries towards the low-carbon economy. Its membership has now grown to 35, with 16 countries and 19 companies.
'Both leaders also discussed possibilities of deepening cooperation in areas like innovation, climate technology, climate action, green hydrogen, space, defence, civil aviation, Arctic, polar research, sustainable mining and trade and economic ties,' it added.
In a separate meeting, Mr. Modi held talks with Iceland Prime Minister Katrin Jakobsdottir and discussed ways to further strengthen economic cooperation especially in the sectors of geothermal energy, Blue Economy, Arctic, renewable energy, fisheries, food processing, education including digital universities, and culture, the MEA said.
Discussions also took place on regional and global developments, it added.
'Glad to have met PM @katrinjak. We discussed India-Iceland relations, particularly our shared collaboration in healthcare, renewable energy, fisheries and more,' Mr. Modi tweeted.
Mr. Modi lauded Jakobsdottir's personal efforts at promoting gender equality and briefed her on India's advances on the issue, the MEA said.
Discussions also took place on expediting the India-European Free Trade Association (EFTA) trade negotiations.
Mr. Modi also met his Finnish counterpart Sanna Marin and discussed ways to further cement bilateral ties in trade, investment, technology and other sectors.
'Today’s meeting with Finland @MarinSanna was very fruitful. There is immense potential in expanding the India-Finland digital partnership, trade partnership and investment linkages. We also discussed ways to deepen cultural ties between our nations,' Mr. Modi tweeted.
This was the first in-person meeting between the two leaders.
They discussed opportunities to expand cooperation in the fields of new and emerging technologies like AI, quantum computing, future mobile technologies, clean technologies and smart grids, the MEA said.
Mr. Modi invited Finnish companies to partner with Indian companies and take advantage of the enormous opportunities that the Indian market presents, particularly in telecom infrastructure and digital transformations.
Discussions also took place on regional and global developments, and on greater cooperation in international organisations.
India's trade with Nordic countries stands at over USD 5 billion (2020-21).
Source:
thehindu.com
05 May, 2022
India excludes 1,157 products from ambit of free trade pact with UAE.
India has kept out as many as 1,157 products, including TVs, picture tubes, soaps, toys, footwear, instant coffee, sharbat, and petroleum waxes, from the ambit of its free trade agreement with UAE.
The pact came into force on May 1.
Given the sensitivities of these products for the domestic industry, India will not provide any kind of customs duty concessions on the 1,157 goods under the the India-UAE Comprehensive Economic Partnership Agreement (CEPA), according to FAQs prepared by the commerce ministry on the pact.
The product categories include jewellery (except for 2.5 tons quota for gold jewellery), plastics, scrap of aluminium and copper, most automobiles and automotive components, medical devices, dairy products, fruits, cereals, sugar, food preparations, tobacco products, dyes and pigments, natural rubber, tyres, and processed marble.
TVs, picture tubes, soaps, toys, footwear, instant coffee, sharbat, and petroleum waxes are among the products that have been excluded from the ambit of the trade pact.
As per the FAQ, the CEPA is likely to benefit about USD 26 billion worth of Indian products that are subjected to 5 per cent import duty by UAE.
The agreement has also stringent product-specific rules of origin that reflect the requirement for substantial processing.
The certificate of origin, a key document required to avail the duty benefits under the pact, will be issued by the Ministry of Economy of the UAE to prevent circumvention of the rules of origin criteria.
The agreement has built-in protection to ensure that no third country product enters Indian market through UAE and benefit from concessional tariffs without being substantially transformed., it added.
'The India-UAE CEPA trade in goods does not allow such products through a stringent rules of origin that reflect the requirement for substantial processing,' it added.
Further, it said a concept of review of the agreement has been put in place to take stock of the operation of the pact and based on the same, suggest the future course of action.
The agreement is operationalised and implemented through a joint committee. The committee would meet biennially to review the agreement with a purpose of considering additional measures to further enhance the pact.
To promote trade in services, both the countries have undertaken commitments in 11 broad categories, including business, communication, construction, educational and financial.
Market access has been offered for business visitors, intra corporate transferees, and contractual services suppliers in a range of services sectors.
On government procurement chapter of the pact, the ministry said that it has certain binding commitments related to process, procedure and transparency elements of government procurement for only a limited number of central government ministries and departments.
Source:
economictimes.indiatimes.com
05 May, 2022
Wheat in surplus for entire year in India, farmers given good prices: Govt.
India currently has more than the required quantity of wheat in stocks to sustain for a year, informed Sudhanshu Pandey, Secretary, Department of Food and Public Distribution (DFPD).
'After meeting the requirement of welfare schemes in the year ahead, on April 1, 2023, India would have stocks of 80 LMT of wheat, well above the minimum requirement of 75 LMT. India would have surplus wheat even though production was expected to 1050 LMT, slightly lower than the initial estimate of 1110 LMT in Financial Year 2023,' Pandey said.
While briefing the reporters on Thursday in the national capital, DFPD Secretary, said that no move has been taken by the central government to curb wheat export.
'Till now 40 LMT wheat has been contracted for export and about 11 LMT has been exported in April 2022. Egypt, and Turkey had also given approval for the import of Indian wheat. From June, wheat from Argentina and Australia would start arriving in the international markets, so this was the opportune time for exporters to sell wheat in the international markets,' he said.
He further clarified that edible oil stocks are also sufficient in the country and after a temporary ban by Indonesia, the palm oil imports are expected to start again soon.
'This would soften the edible oil prices in the country,' he added.
Responding to a question on procurement of wheat, Pandey said that due to higher market prices, a large quantity of wheat was being bought by traders at a higher rate than MSP (Minimum Support Price), which was good for the farmers.
'This year due to an increase in market prices and higher demand by the private players both for the domestic as well as export purposes, the purchase by the government agency is less. But that goes in favour of the farmers. Farmers are getting a good price for the wheat,' the Secretary said.
He said that earlier the farmers had no option but to sell to the government but 'now they are selling only that quantity to the government which they are unable to sell in the private market. Therefore, from that perspective, the government procurement has reduced,' he added.
Source:
business-standard.com
05 May, 2022
FSSAI launches systematic and intensive plan for high risk foods.
Superseding all the previous orders, the Food Safety and Standards Authority of India (FSSAI) has issued a direction for a comprehensive inspection plan based on risk associated with food businesses. The plan also has provisions for e-inspection through recorded video and live streaming of the premises.
According to the FSSAI, it will enable the authorities to carry out the mandatory inspections of the premises of the food business operators ensuring the safety of high risk food categories in a more ‘systematic and intensive manner’ and aimed at bringing about systematic improvements rather than in form of raids/searches and should be undertaken with prior notice to FBOs except in case of serious food safety issues.
Further, the inspection plan needs to be incorporated in the Food Safety Compliance System (FoSCoS) for systematic allotment of inspection to designated officers/ food safety officers and it is mandatory to carry out inspection only using food safety inspection and sampling system –FoSCoRIS app.
The high risk categories include dairy products and analogues, meat and meat products including poultry, fish and fish products, eggs and egg products, foodstuffs intended for nutritional uses, prepared food, Indian sweets, nutrients and their preparation –fortified rice kernels only.
The types of inspection include pre-licence inspection for businesses like milk, meat, fish, fortified rice and slaughterhouses, pre-registration inspection for fortified rice kernels, routine inspection based on risk profile in each states, follow up inspections to check compliance, inspection before renewal or modification of licence, inspection for investigation of a complaint, inspection in case of a food safety emergency and non-conformity report of a third-party audit.
Besides, there can be inspection of expired licences and other inspections prescribed by the food authority.
Also, 'There is a provision of exemption from inspection based on the score of a third-party audit or hygiene rating scheme as applicable,' reads FSSAI statement.
Under the new plan, the Food Safety Commissioners can increase the number of inspections needed to be added for a particular financial year. However, this plan shall not preclude the registration or licensing authority from carrying out the inspection of any other food businesses in the situation of health risk or food safety emergencies.
And the order says that all the Central licensed manufacturers, processors under high risk categories as specified by the FSSAI should get their businesses audited by FSSAI recognised food safety auditing agencies every year.
Source:
fnbnews.com
05 May, 2022
A preferential route: Effectiveness of FTAs in Indian exports.
The ongoing COVID-19 pandemic has devastating health and economic consequences, with unprecedented disruption to people's lives, the global economy and world trade. The impact of the pandemic was opposite to the norms that drive Free Trade Agreement. On the one hand, FTA works on the principles of open and integrated economies and the other hand, the pandemic has influenced nations to close their boundaries strictly. Despite this, with the changing global landscape as a ramification of the ongoing pandemic, FTA remains a vital tool to facilitate and revamp global trade. This presents an opportunity for India to make the Indian economy export-oriented through the active bilateral and multilateral FTAs and RTAs. Recently, the Government of India has signed the Comprehensive Economic Partnership Agreement (CEPA) with UAE and Australia-India Economic Cooperation and Trade Agreement aiming to give a push to bilateral trade and increase exports in the coming years. Moreover, India has shown enthusiasm and actively negotiating FTA deals with countries such as Canada, Israel, the United Kingdom and European Union. FTAs are generally agreements that often include clauses on trade facilitation and rule-making in investment, intellectual property, government procurement, technical standards and sanitary and phytosanitary issues and provide a possibility for countries to enhance trade and exports, access to new markets, trade risk diversification, enhancing innovation and competition, better integration of markets and facilitating the transfer of skills and technology. However, the feasibility of the FTAs for India’s bilateral trade and exports still remains uncertain.
India has seen some notable positives from the FTAs in the recent past as data shows a significant increase in the exports to some of the countries. According to data provided by the Directorate General of Commercial Intelligence and Statistics, India’s merchandise exports to countries/regions with which India shares trade agreements such as FTAs have registered a growth of 20.75% in the last five years. Additionally, India’s export to ASEAN has witnessed an increase from $25.13 billion in 2015-16 to $31.49 billion in 2020-21. The same trend follows with other countries/regions as well, whereas India’s export to SAFTA countries has increased from $18.60 billion in 2015-16 to $22.08 billion in 2020-21 and export to South Korea has increased from $3.52 in 2015-16 to $4.68 billion in 2020-21. More importantly, data provided by the Department for Promotion of Industry and Internal Trade suggest that cumulative investment received from the countries India shares FTAs in the last five years is to the tune of $89.46 billion.
One of the areas of concern for India remains the negative balance of trade with countries such as ASEAN and Japan despite the increase in exports. India has accounted for a trade deficit of $15.95 billion in 2020-21 with ASEAN countries. At the same time, the trade deficit with Japan remained $6.49 billion in 20-21. In contrast, India has achieved a rise in exports to the USA and China despite not having any FTAs with both countries. The increase in export is part of India’s increasing focus on making an export-driven economy as India achieved the highest ever exports of 37 billion US dollars in December 2021, which is 37% higher than December 2020. More importantly, India saw a slight improvement in the trade deficit with China from $52.67 billion in 2015-16 to $44.02 billion in 2020-21, despite not having any FTA with China. Thus, the data reflects that even though FTAs/RTAs give better access to new markets and facilitate exports, there is an urgent need of addressing the key issues such as reducing the trade deficit to make these FTAs/RTAs more effective.
In the past India has raised several issues regarding FTAs and their implications on the local markets. Many of these issues were flagged during India’s negotiations and then finally opting out of Regional Comprehensive Economic Partnership (RCEP). One of the major concerns highlighted by the Government of India is the impact of FTAs on local supply chains. Moreover, as data suggests, FTAs have not served the Indian economy and built capacities as expected. Thus, the challenge for India remains to maintain a balance between global economic integration and enhance the capacity of local markets to be able to serve as a global exporter. Furthermore, through FTAs with countries such as Australia and UAE, India aims to improve the balance of trade between the countries. Hence, significant steps have been taken by the Government of India to tame the shortcoming that India has faced regarding FTAs in the past. Nevertheless, as data indicates, FTAs are no panacea to all ills to economies and trade. Thus, by bringing notable changes to overcome the limitations of FTAs and by making them adaptable to an economy like India, these agreements can become a robust solution to the economic challenges that India and the world are facing.
Source:
economictimes.indiatimes.com
05 May, 2022
North-Eastern Region is the natural gateway for India to South-East Asia and beyond: President Kovind.
North-Eastern region is the natural gateway for India to South-East Asia and beyond, said the President of India, Shri Ram Nath Kovind. He was addressing the valedictory function of North East Festival, organized by the Ministry of DoNER as a part of Azadi ka Amrit Mahotsav, at Guwahati, Assam today (May 4, 2022).
The President said that with over 5,300 kilometres of international borders with several neighbouring countries, North-Eastern region has significant strategic value. With the launch of the Look East Policy (LEP), the security-centric approach towards neighbours in the east gave way to a prioritising of economic issues for benefiting from the common potential for economic growth across the region. In 2014, the LEP was upgraded to the Act East Policy (AEP) which brought about a paradigm shift and marked a significant change in the potential role of the North-East region.
The President said that he was happy to attend the valedictory function of North East Festival which is organized as a part of Azadi ka Amrit Mahotsav. He congratulated Union Minister for DoNER, Governors and Chief Ministers of all the North-Eastern states as well as the people of the region for their enthusiastic participation. He said that he was impressed by their spirit of 'Hum Kisi Se Kam Nahi'!
The President said that when the nation celebrates the freedom movement, citizens recall the valour and patriotism of not only its great leaders but also lesser-known or forgotten participants without whose sacrifice it would not have been a mass movement. We are rightly proud of the fact that such participation was witnessed in every nook and corner of the country. Every Indian yearned to see Mother India freed from the shackles of foreign rule. The North-East region was second to none when it came to joining the struggle for freedom.
The President said that when we celebrate the 75 years of Independence, when we recall the magnificent episodes of our freedom movement, when we think of the life and work of our great leaders, we do so in order to gauge where we stand today compared to their dreams. We do so in order to learn more about their vision and be inspired from their struggles to build a better tomorrow.
The President said that when our nation won Independence, the North-Eastern region was vastly different from what it is today. Initially, this region had suffered hugely because of Partition of India, as it found itself suddenly cut off from major centres of communications, education and trade and commerce such as Dhaka and Kolkata. The only corridor connecting the North-East and the rest of the country was a narrow strip of land in the north of West Bengal, making it challenging to support developmental initiatives in the region. Yet, we have diligently worked to overcome the challenges of geography. During the last 75 years, the North-East has made significant progress on a variety of parameters.
The President stated that the North-Eastern region has immense inherent strengths. What it offers in terms of tourism, horticulture, handloom and sports is often unique. He said that efforts are needed now to place the North-Eastern states on par with the industrially advanced states so that more jobs are created here. Recognising this need, the Government is working with the states to improve their Ease of Doing Business parameters and to facilitate the flow of private investments into the North-East.
Pointing to the emergence of climate change as the greatest challenge before humankind, the President said that careful planning and efforts will be needed in the years to come to preserve the rich ecological heritage of the North-East. He said that this region is part of the Himalaya and Indo-Burma bio-diversity hotspots – the two of 25 such hotspots in the world. Development choices for the region must, therefore, integrate relevant strategies for natural resource management, green industrial and infrastructure development as well as sustainable consumption patterns.
Source:
pib.gov.in
05 May, 2022
India, Denmark sign 9 pacts, to ramp up trade.
After bilateral talks with Prime Minister Narendra Modi on Tuesday in Copenhagen, Danish PM Mette Frederiksen condemned Russia for its 'unlawful invasion of Ukraine' and publicly hoped India would influence Russia to stop its military offensive, as she also demanded that Russian President Vladimir Putin 'has got to stop this war'. The two PMs also reviewed the bilateral Green Strategic Partnership between their two nations and decided to ramp up trade ties and cooperation in green energy and combating climate change, with the two nations signing nine pacts in diverse fields such as migration and mobility, shipping, culture, fisheries, animal husbandry, skill development, start-ups, water management and energy policy.
Both leaders also 'reconfirmed their commitment to democratic values, the rule of law and respect for human rights on which the Green Strategic Partnership is based'. Mr Modi will participate in the Second India-Nordic Summit in Copenhagen on Wednesday with the leaders of five Nordic nations -- Denmark, Sweden, Norway, Finland and Iceland.
In his public remarks on Tuesday after talks with the Danish PM, Mr Narendra Modi said: 'Today, we also discussed a number of regional and global issues, including India-EU relations, Indo-Pacific and Ukraine. We called for an immediate ceasefire in Ukraine and the adoption of dialogue and diplomacy to resolve the problem. We stressed on ensuring a free, open, inclusive and rules-based Indo-Pacific region. We hope that negotiations on the India-EU Free Trade Agreement will be concluded as soon as possible. We also discussed our cooperation in the field of climate. India is also committed to fulfilling the resolutions taken at the Glasgow COP-26. We have agreed to explore more opportunities for cooperation in the Arctic region.'
As the Danish PM 'reiterated Denmark’s strong condemnation of the unlawful and unprovoked aggression against Ukraine by Russian forces', both leaders in a joint statement 'expressed their serious concern about the ongoing humanitarian crisis in Ukraine, unequivocally condemned civilian deaths in Ukraine, reiterated the need for an immediate cessation of hostilities, emphasised that the contemporary global order has been built on the UN Charter, international law and respect for sovereignty and the territorial integrity of states and discussed the destabilising effect of the conflict in Ukraine and its broader regional and global implications', while 'agreeing to remain closely engaged on the issue'.
On India-EU ties, the two Prime Ministers 'emphasised the importance of India-EU Strategic Partnership and reaffirmed their commitment to further strengthen this partnership'. They also 'appreciated the progress in restart of negotiations on India-EU Trade, Investment and Geographical Indicators Agreements and called for a balanced, ambitious, comprehensive and mutually beneficial approach and an early and simultaneous conclusion'. Both leaders 'welcomed the launch of the Trade and Technology Council between the EU and India, underlining the importance of deep, strategic collaboration on cross-cutting issues related to trade, trusted technology and security and also recalled the India-EU Connectivity Partnership and agreed to support efforts towards its early implementation'.
In a statement, New Delhi said: 'Both PMs reviewed progress of the India-Denmark Green Strategic Partnership. The discussions covered cooperation in renewable energy, especially offshore wind energy and green hydrogen, as well as skill development, health, shipping, water and the Arctic, among others.' New Delhi also said Mr Modi 'appreciated the positive contribution of Danish companies in India to our flagship programmes' while the Danish PM highlighted the positive role of Indian companies in Denmark.
On trade ties, the joint statement said: 'The two PMs underlined the importance of bilateral trade and investments and stressed the need to maximise the potential of economic ties between the two countries. They affirmed that robust bilateral investments and trade flows through diversified, resilient, transparent, open, secure and predictable global supply chains would ensure economic security and prosperity of their peoples. The two PMs welcomed Danish investments in India, especially in the renewable energy, water, terminals and port modernisation and expansion, food processing and engineering sectors and India’s investments in Denmark, especially in information technology… They noted that such investments have made India the country where Danish companies have the largest number of employees outside of Denmark.'
It added: 'Both leaders agreed that the opportunities created by the Green Strategic Partnership will likely lead to an upward trajectory in bilateral trade and investment. In this context, the two Prime Ministers welcomed the launch of the ‘India Green Finance Initiative’, which aims to contribute to financing green projects in India with the purpose of accelerating green growth and job creation in India.'
Source:
deccanchronicle.com
04 May, 2022
Indian Railways cuts number of rakes meant for wheat exports.
The Indian Railways has reduced the number of rail rakes for wheat movement for export purposes to only nine per day compared to daily deployment of 15 such rakes till a few days back, sources said. This has been done considering the food ministry’s request to provide more rakes for movement of the winter crop by the state owned Food Corporation of India to meet domestic demand.
So, now railways will make 53 rakes available per day to the FCI and other government agencies compared to the recent norm of providing 47 rakes for this purpose. Each rake consisting of 42 covered wagons carries about 2,800 tonnes of wheat.
This change in availability of rail rakes comes amid reports of rise in export of wheat due to a spike in global demand and depletion in stock with government agencies who have to meet their statutory requirement till April next year. Sources said the change in strategy has been made considering two factors. First, there is a need to transport more wheat by trains to ensure there is no shortage in domestic supply and second to put the export of the winter crop on a slow lane.
Officials said the strategy to get more rail rakes for FCI and government agencies has more to do with the domestic requirement. They added states which earlier could meet their wheat requirement from the procurement done within the state now need supplies from other states. Three such states are UP, Rajasthan and Gujarat.
Meanwhile, the railways, on the coal rake front, has repaired around 2,000 damaged and dilapidated wagons over the last four months spending around Rs 150 crore to augment coal movement to power plants.
Source:
timesofindia.indiatimes.com
04 May, 2022
Govt procures 16.2 mt wheat from 11 states.
The government has procured around 16.195 million tonnes of wheat from 11 states in the 2022-23 rabi marketing season, benefitting 1.47 million farmers with a minimum support price (MSP) value of Rs. 32,633.71 crore, the food ministry said on Monday.
Wheat procurement under the central pool is progressing in Madhya Pradesh, Haryana, Punjab, Uttar Pradesh, Uttarakhand, Chandigarh, Himachal Pradesh, Jammu and Kashmir, Gujarat, Bihar and Rajasthan, it said in a statement.
As much as 76.094 million tonnes of paddy had been procured, benefiting 10.958 million farmers with an minimum support price value of Rs. 1,49,144.23 crore, it said.
Source:
economictimes.indiatimes.com
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