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07 Apr, 2022
Alphonsos arrive in America as USDA okays Indian mango Import.
For all the desis in America, the thought of an impending summer season also brings along plans of an essential de rigueur – making the rounds of South Asian grocery stores to procure the fabled mangoes from the Indian subcontinent.
This year, after the brutal pandemic induced restrictions comes a sweet treat in the form of sunny mangoes from India which would be available readily since the US Department of Agriculture (USDA) has given approval to India to export mangoes to America.
It may be noted that since 2020, the US had restricted the import of Indian mangoes as due to Covid-19 travel restrictions, USDA inspectors were unable to travel down to India to inspect the fruit – an important step before the US allows import of mangoes in its country.
The USDA approval would essentially mean that India would be able to export mangoes from its famed mango regions such as Uttar Pradesh, Maharashtra, Andhra Pradesh and Telangana.
A lot of desi store owners who stock mangoes in the United States share that often consumers come looking for specific types of Indian mangoes like chausa, dussheri, langara or sindoori as they have grown up eating these mangoes or hail from the famous mango production belts in India.
With the new development, procuring popular varieties of mangoes from India will be possible for importers. The approval came during the US Trade Policy Forum (TPF) meeting where the US and India signed an agreement to follow a joint protocol on irradiation for India’s mango and pomegranate exports.
India will be exporting mangoes to the US in the current mango season beginning with the Alphonso variety. New Jersey based Krishna Kant, an Indian American HR professional says, 'This is great news.'
'Of all the memories from India, the memories of devouring the sweetest, fleshiest mangoes back home in India bring a smile to all Indians.' he says. 'I am looking forward to piling up boxes of Indian mangoes in my car and taking them to my family in New Jersey and Connecticut.'
While Indian mangoes continue to be in high demand in the United States, mango traders see America as a market with an even bigger potential. In 2019-20 $4.35 million worth of mangoes were exported to USA, nearly 20% up from $3.63 million in 2018-19.
Source:
americanbazaaronline
07 Apr, 2022
JKHPMC on course to become profitable: Navin Choudhary.
Principal Secretary, Agriculture & Horticulture, Navin Choudhary Wednesday chaired the 61st Board of Directors Meeting (BoDs) of Jammu & Kashmir Horticultural Produce Marketing and Processing Corporation (JKHPMC) Ltd.
The meeting was attended by representatives of Horticulture & Agriculture Departments, SKUAST-K/J, National Horticulture Board (NHB), Small Farmers, Agri-Business Consortium (SFAC), Finance & Planning Departments of J&K Govt.
Speaking on the occasion, Principal Secretary said that the Corporation is on course to become profit making and self sustainable soon as it has embarked on a slew of new initiatives and establishment of post-harvest infrastructure projects in the UT of J&K.
Managing Director, JKHPMC, Shafat Sultan gave a detailed presentation and progress report on the various projects undertaken by the Corporation viz CA Stores, Pack Houses, Common Incubation Centers (CICs), Developing district Shopian as Apple Cluster under the Cluster Development Programme (CDP) of the Ministry of Agriculture & Farmers Welfare, GoI etc.
The Board approved the CAPEX Budget proposals of the Corporation for the FY 2022-23 to the tune of Rs 11 crore, which envisages establishment of a 2500 MT CA Store in Doabgah, Sopore with NABARD/AIF funding and construction of two Fruit & Vegetable Aggregation and Processing Centers one each in Kashmir & Jammu regions of the UT.
Principal Secretary remarked that the implementation of the cluster development programme in Shopian in order to make the district’s apple globally competitive would be a game changer for the connected stakeholders.
Navin Choudhary also directed the Corporation management to speed up the process of completing the audit for the remaining period as per the time lines shared by JKHPMC with the, “Committee on Papers laid on the Table of Rajya Sabha” in Feb, 2022.
The Board advised the Corporation management to complete the post-harvest infrastructure projects under execution like Cold Room and Pack House in Narwal Jammu, Food Cluster in Doabgah, Sopore, CA Stores in Behrampora, Baramulla & Rambirpora, Anantnag Common Incubation Centresat Doabgah-Sopore, Achabal-Anantnag and Narwal-Jammu during the FY 2022-23.
Regarding the unfinished works of the APEDA sponsored Chowdrigund, Shopian Apple Pack House project, Principal Secretary asked the MD, JKHPMC to speed up the efforts to complete the project by end of Sep, 2022.
The Board also advised the Corporation management to outsource its Apple Juice Plant (AJP), Card Board Unit, CICs and other infrastructure in the pipeline, so as to make the Corporation profit making and self-sustainable in the near future.
Source:
risingkashmir
07 Apr, 2022
ODOP scheme: Amritsar's traditional achaar and murabba industry gets a push.
A year after the introduction of the One District One Product (ODOP) scheme, the centuries-old traditional cottage food and processing industry of achaar and murabba has received a push. Envisaged by the Union Ministry of Food Processing and Industries, the scheme supports the existing individual micro units with capital investment, common infrastructure, marketing and branding. The scheme would help provide common facilities and other support services.
Jyoti Saroop, general secretary of the Achaar Murabba Association, said the scheme was envisaged to double the strength of achaar and murabba processors from the present 40 in the district, which has an annual turnover of around Rs 100 crore. A subsidy on raising infrastructure is being extended to processors. Besides, a Common Facilitation Centre for installing a common processing facility is being raised. Punjab Agro Industries Corporation (PAIC) has been made State Nodal Agency and it has bought land for the project at the Verka bypass.
UNATI Cooperative Marketing-cum-Processing Society Ltd and PAIC have made a joint venture in the name of Punjab Agro UNATI Gramin Marketing Private Ltd (PUGMARK) and a common brand of the name of AASNAA has been made. All manufacturers will sell their products under this brand and they will be trained for capacity building in terms of improving the quality of their products.
The ministry is providing financial supporting and has sanctioned Rs 4 crore for common marketing and branding. A network of around 4,000 retailers spread across five states has been created under the PUGMARK. These products will be available online.
Rakesh Thukral, a prominent manufacturer, said the traditional cottage industry received a roadmap for future growth. Though the exporters based in Mumbai, Delhi and Panipat are exporting these locally produced products, it has a plan to directly export indigenous products to those countries where Indians in general and Punjabi in particular are residing in a large number.
Source:
tribuneindia
07 Apr, 2022
FSSAI operationalises nutraceutical regulations to bring more clarity.
The food regulator has issued a direction to operationalise the FSS (Health Supplement, Nutraceuticals, Food for Special Dietary Use, Food For Special Medical Purpose and Prebiotic & Probiotic Food) Regulations, 2022, or FSS (Nutra) Regulations, 2022.
The nutra regulations will supersede the previous regulations of 2016 and any amendment made thereunder, says the FSSAI direction and will commence from April 1, 2022.
According to the FSSAI, it was done to remove ambiguity and bring more clarity on regulations governing such products. This regulation covers schedules applicable to different categories and list of additives and purity criteria, as applicable along with general definitions and conditions applicable to Health Supplement, Nutraceuticals, Food for Special Dietary Use, Food for Special Medical Purpose And Prebiotic & Probiotic Food.
FSSAI has stated that the draft regulations are in process of publication and its final notification is likely to take some time. Therefore, it has been decided to operationalise the provisions of these regulations with effect from April 1, 2022.
The scope of these regulations says that articles of food falling under these regulations are specially processed or formulated for specific nutritional or dietary purpose and shall be clearly distinguishable from foods intended for normal consumption by their special composition.
These foods are intended for population above the age of 2 years and shall fulfil the characteristics as laid down in these regulations. They are intended to be consumed orally in defined quantities and duration and shall not include products intended for parenteral use.
And the products falling under these regulations shall not include a drug as defined in clauses (a), (b) and (h) of section 3 of the Drugs and Cosmetics Act, 1940 (23 of 1940) and rules made thereunder and the products falling under these regulations shall not contain hormones or steroids or a narcotic drug or a psychotropic substance.
Further, mere food forms such as vegetables, for example, bhindi, karela and other vegetables; cereals, for example, ragi, jowar, millets and other cereals; legumes, for example, rajmah and other legumes; spices, for example, pepper, jeera, turmeric and other spices; fruits, for example, amla, jamun, grapes and other fruits; and other plants or botanicals, minimally processed (cleaned, de-weeded, sorted, dried or powdered), in either as juice or cooked form, shall not constitute ‘health supplement’ or ‘nutraceutical’ or ‘food for special dietary use’ or ‘food for special medical purpose’, Also, foods intended for infants up to the age of 2 years shall comply with FSS (Food for Infant Nutrition) Regulations, 2020.
Source:
fnbnews
07 Apr, 2022
India s trade with Russia, Ukraine grew since FY21: Government to Parliament.
India’s imports from Russia rose to $8.69 billion in the first 11 months of 2021-22, which is 58% higher than the total imports of $5.48 billion recorded in the full financial year 2020-21, the government told Parliament on Wednesday.
India’s exports to Russia rose to $3.18 billion in April–February period of 2021-22 from $2.65 billion recorded in the full year 2020-21, minister of state for commerce and industry Anupriya Patel said in a written reply in the Lok Sabha.
India’s trade with Ukraine has also increased to $3.09 billion in the first 11 months of 2021-22 from $2.59 billion in 2020-21.
'The effect of the war on exports/imports from Russia and Ukraine can be assessed only after the situation stabilises,' Patel said.
Neighbouring nations trade
The government has bilateral institutional mechanism with several countries including its neighboring countries, except with Pakistan, under which discussions on trade, investment and economic issues are held at mutual convenience.
'Yes sir. Department of Commerce has bilateral institutional mechanism with several countries including its neighboring countries, except with Pakistan,' Patel replied to a question on whether India is discussing some fresh trade investments and economic issues individually with each of its neighboring countries- China, Bhutan, Nepal, Pakistan, Afghanistan, Bangladesh and Myanmar.
Various such bilateral meetings have been held in last four years, in which the trade, investment and economic issues of mutual interest such as strengthening of border trade infrastructure, technical barriers to trade, sanitary and phytosanitary measures, cooperation in customs, facilitation of trade through railways, land and sea ports, harmonization of standards, etc have been discussed from time to time.
Patel said that resolution of these issues and implementation of various projects and programs of mutual interests has yielded positive outcomes which is reflected in India’s increasing total trade with these countries- from $112.15 billion in the year 2017-18 to $135.77 billion in April 2021-Feb 2022.
Startups
As of March 28, 2022, the number of recognized startups are 66,810 in FY22
from 726 in FY17. There is at least one recognized startup from every state and UT and nearly 50% of the recognized startups are from Tier-II and III cities. Recognized startups are spread across over 640 districts and have reported creation of more than 7 lakh jobs.
More than 4,500 Startups have been recognized in sectors relating to emerging technologies such as Internet of Things (IoT), robotics, artificial intelligence, analytics, Lok Sabha was told.
Apple imports
The government told Parliament that no abnormal imports of apples from Afghanistan have been noticed during the current year, with only 1947.19 tons, valued at $1.82 million, having been imported during the period April 2021 to January 2022.
Duty free imports of apple are allowed from Afghanistan under the South Asia Free Trade Area agreement, subject to adherence to prescribed Rules of Origin.
Replying to the question if Himachal Pradesh, Uttarakhand and union territory of Kashmir had brought the matter to the union government’s notice, Patel said: 'A number of representations were received in this regard'.
The matter was brought to the notice of the Central Board of Indirect Taxes and Customs for strict compliance to RoOs with respect to apple imports from Afghanistan.
Source:
economictimes
06 Apr, 2022
ADB projects India's economy to grow by 7.5% in FY23.
Asian Development Bank on Wednesday projected a seven per cent collective growth for South Asian economies in 2022 with the subregion's largest economy India growing by 7.5 per cent in the current fiscal year before picking up to eight per cent the next year. Releasing its flagship Asian Development Outlook (ADO) 2022, the Manila-based multi-lateral funding agency said the growth in South Asia is projected to slow to seven per cent in 2022, before picking up to 7.4 per cent in 2023.
The subregion's growth dynamics are largely driven by India and Pakistan.
'South Asian economies are expected to expand collectively by seven per cent in 2022 and 7.4 per cent in 2023, with India -- the sub-regions largest economy -- expected to grow by 7.5 per cent this fiscal year (FY23) and eight per cent next fiscal year (FY24),' the agency's ADO report said.
Pakistan's growth is forecast to moderate to four per cent in 2022 on weaker domestic demand from monetary tightening and fiscal consolidation before picking up to 4.5 per cent in 2023, it said.
ADB said developing Asia's economies are predicted to grow by 5.2 per cent this year and 5.3 per cent in 2023, thanks to a robust recovery in domestic demand and continued expansion in exports.
'However, uncertainties stemming from the Russian invasion of Ukraine, the continuing coronavirus disease (COVID-19) pandemic, and tightening by the United States Federal Reserve pose risks to the outlook,' ADB Outlook said.
Developing Asia comprises 46 member countries of ADB by geographic group: the Caucasus and Central Asia, East Asia, South Asia, Southeast Asia and the Pacific.
South Asia comprises Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka.
'Economies in developing Asia are starting to find their footing as they slowly emerge from the worst of the COVID-19 pandemic,' said ADB Chief Economist Albert Park.
However, geopolitical uncertainty and new COVID-19 outbreaks and virus variants could derail this momentum.
'Governments in the region will need to remain vigilant and prepared to take steps to counter these risks. That includes making sure as many people as possible are fully vaccinated against COVID-19. Monetary authorities should also continue to monitor their inflation situation closely and not fall behind the curve,' Park said.
Source:
economictimes
06 Apr, 2022
Saudi s SAGO completes procedures for importing 625,000 tons of wheat.
The Saudi Grains Organization (SAGO) has completed the procedures for importing 625,000 tons of wheat from the origins of Europe, North and South America, and Australia.
Governor of the SAGO Eng. Ahmad Bin Abdulaziz Al-Fares said that contracting this batch comes within the framework of strengthening the strategic stock of wheat, maintaining it at safe levels and meeting all the needs of milling companies.
He addd that this batch will be supplied during (September-November 2022) and distributed to (10) shipments; (1) shipment for Jeddah Islamic Port with the amount of (63,000 tons), (6) shipments for Yanbu Commercial Port with the amount of (379,000 tons), (2) shipments for King Abdulaziz Port in Dammam with the amount of (128,000 tons) and (1) shipment for Jazan Port with the amount of (55,000 tons).
He pointed out that with the completion of this tender, the organization has contracted to import about 2.6 million tons of wheat during this year.
Source:
hellenicshippingnews
06 Apr, 2022
Shri Piyush Goyal begins 3-day visit to Australia, days after inking India-Australia Economic Cooperation and Trade Agreement (ECTA).
Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal left New Delhi on a 3- day visit to Australia today. His visit comes days after India and Australia signed the Economic Cooperation and Trade Agreement (IndAus ECTA) on Saturday, 2nd April. During the visit, I will take the ECTA to people, Shri Goyal said, adding that interactions had been planned with Business leaders, Indian students, diaspora, etc.
During the visit Shri Goyal will hold wide-ranging discussions with his Australian counterpart, Mr. Dan Tehan MP, Minister for Trade, Tourism and Investment, on carrying forward the ECTA. ECTA is the first trade agreement of India with a developed country after more than a decade and provides for an institutional mechanism to improve trade between the two countries. Shri Goyal will also hold talks with Mr. Tony Abbott, Australian PM’s Special Trade Envoy this evening.
Shri Goyal will also be meeting Mr. Jason Wood, MP, Assistant Minister for Customs, Community Safety and Multicultural Affairs, Mr. Alex Hawke, Minister for Immigration and Multicultural Affairs, Mr. Roger Cook, MLA, Deputy Premier of Western Australia and Minister for State Development, Jobs and Trade, Tourism, Commerce and Science and Ms. Madeline King, Shadow Trade Minister.
During his packed schedule, Shri Goyal will visit the University of Melbourne and Australia India Institute tomorrow. He will address a Public conversation with Minister Dan Tehan and Mr Allan Myers, Chancellor, University of Melbourne, at the Melbourne Law School in The University of Melbourne.
Shri Goyal will also visit the landmark Melbourne Cricket Ground and address the Australia-India Chamber of Commerce and Austrade, along with Minister Dan Tehan, besides interacting with the Indian media. He will later visit the Shiva Vishnu Temple in Melbourne and attend a Community event with the Indian Diaspora.
On Thursday, 7th April, Shri Goyal and Minister Dan Tehan will address and interact with students at the University of New South Wales in Sydney and pay tributes at the statue of Mahatma Gandhi in the University campus. Shri Goyal will later address the Emerging Diaspora Business Leaders Reception hosted by India-Australia Business and Community Awards (IABCA). Later in the evening, Shri Goyal, accompanied by Minister Dan Tehan and Minister Alex Hawke, Minister for Immigration and Multicultural Affairs, will attend a Community event at the Swaminarayan Temple in Sydney. Before leaving Sydney on Friday, 8th April, Shri Goyal will also meet Mr. Alan Joyce, CEO & MD, Qantas Airways.
Shri Goyal will meet with the Australian Agricultural Producers and hold talks with Deputy Premier Roger Cook and Ms. Madeline King, Shadow Trade Minister in Perth. He will visit the Western Australia Cricket Ground (WACA) in Perth and attend a Tourism event in conjunction with Tourism Western Australia, besides holding a Press Interaction with the Indian Media Delegation. On Friday evening, Shri Goyal will address the Community Centre Indian Society of Western Australia (ISWA).
Australia is the 17th largest trading partner of India and India is Australia’s 9th largest trading partner. The ECTA is expected to almost double the bilateral trade from $ 27.5 bn (2021) to about $ 45 to $ 50 Billion in next 5 years. ECTA is expected to create new employment opportunities, raise living standards and enhance the overall welfare of the peoples of both the countries. Additional employment generation is expected to be 10 lakhs within the next 5 years.
Source:
pib.gov.in
06 Apr, 2022
India-Australia trade deal to push bilateral ties to new level
This quote came true on Saturday when Australia and India broke their 10-year jinx of endless trade deal negotiations with an inked India-Australia Economic Cooperation and Trade Agreement (IndAus ECTA). China’s belligerence and COVID’s onslaught have subjected both economies to reflect, reimagine and revive a deal that has been well overdue. India’s first deal with a developed economy in a decade, and only a second trade deal in a span of eleven years. The last agreement India signed was with Japan in 2011, followed by UAE and Australia in 2022. The negotiations for India-Australia ECTA were formally re-launched on 30 September 2021 and concluded on a fast-track basis by the end of March 2022.
The comprehensive IndAus ECTA provides for competitive tariff elimination or tariff reduction on a wide range of goods and opens new services markets for suppliers across both markets. The aim is to enhance the bilateral trade to $45 billion in the next five years (currently at $27.5billion), with a clear focus on job creation and exports. The deal provides duty-free market access to over 6,000 broad sectors of India, including textiles, leather, furniture, jewellery and machinery. In the services space, some of the key offers from Australia include: quota for chefs and yoga teachers; post study work visa of 2-4 years for Indian students on a reciprocal basis; mutual recognition of professional services and other licensed occupations; and work & holiday visa arrangement for young professionals.
Australia has also agreed to amend its domestic laws to stop taxing the offshore income of Indian firms providing technical services, including IT majors, TCS, Infosys, HCL and Wipro, which will enable Indian IT and ITeS players to scale up their Australian operations. Australia has been taxing income generated from offshore IT services rendered from India as royalty, even when the same income is being taxed in India as well. The anomaly in the 1991 Double Taxation Avoidance Treaty (DTAA) between the two countries has cost Indian IT companies about $1.3 billion since 2012, according to an industry estimate.
According to the text of IndAus ECTA, both countries have established a negotiation sub-committee “within 75 days after the date of signature of this (ECTA) agreement, the negotiation sub-committee shall commence negotiations on amendments to this agreement, on a without prejudice basis, on areas including inter alia market access for goods and services, a complete product-specific rules schedule, a digital trade chapter, and a government procurement chapter, to transform this agreement into a Comprehensive Economic Cooperation Agreement” India is likely to get access to about $10 billion worth of Australia's official procurement, pegged at $60-65 billion annually (Australia’s government procurement in MSME and defence sectors are protected, and not covered under ECTA)
IndAus ECTA is a stepping-stone towards a full Australia-India Comprehensive Economic Cooperation Agreement (CECA) slated to be completed by the end of this year. Since the elevation of bilateral ties to a Comprehensive Strategic Partnership (CSP) in 2020, the engagement on both sides has amplified across multiple platforms and sectors, clearly focused on building tangible commitments and actions, to embrace a win-win partnership.
With the Australian federal elections just a few weeks away, Australian PM Scott Morrison with this historic deal has affirmed his government’s commitment to build Australia’s economic resilience and security by focusing on the need for economic diversification and strengthening international partnerships. The trade deal is a categorical reflection of Australia’s ambition to build an engaging economic relationship with the world’s fastest growing economy and nurture a new understanding of the opportunities that India offers. For naysayers, the signing of the trade deal is also a lesson in ‘strategic patience’ and ‘opportune timing’, a statement on the convergence of aspirations for the relationship, and the new geo-strategic and economic ambitions.
There has been a holistic approach to build the Australia-India bilateral story – at a political level with the announcement of holding annual summits at the level of the heads of government. Australia is the third country with which India will hold an institutionalised annual summit for regular review of our relations. At economic level – the release of the updated India Economic Strategy to 2035 by the Australian government, that chalks out a post-COVID bilateral economic engagement roadmap, focused on investment to strengthen linkages with India’s key policy, finance institutions and enhanced business engagement. At diaspora level with the release of Australia’s Indian Diaspora report, a national asset report that focuses on a better understanding of the Indian diaspora's reach into the Australia-India economic relationship and integrate the Indian diaspora as compelling change makers in Australia – India bilateral ties. The diaspora is a living bridge between nations, with a natural advantage of the language skills, cultural understanding and transnational networks that can be utilised in a big way. Australia’s investment of over $280 million in initiatives to drive deeper economic and cultural ties including "green steel" partnership, critical minerals, innovation and technology, space investment and a new Centre for Australia India relations, along with proactive Ministerial engagements, MoUs and commitment to finding shared values and partnerships that meet mutual needs.
Australia and India have also launched the Australia India Infrastructure Forum, to promote two-way investment in infrastructure and support broader trade and investment bilateral objectives. Both countries have also decided to focus on manufacture and deployment of ultra-low-cost solar and green hydrogen technologies, as part of the low emissions technology partnership. Focus is to have a wider economic and strategic growth strategy and access that is inclusive, respects the rule of law be it with the QUAD in specific, the Supply Chain Resilience Initiative or the Indo-Pacific region as a whole.
Overall, the focus has been to keep the Australia story thriving in India, and the India story thriving in Australia on a consistent basis in public memory, involving a holistic multi-stakeholder strategy and approach that deepens understanding and appreciation of each other, led by a nuanced understanding of dynamic factors like consumerism, capability, and capacity.
REFLECTIONS
The past 18 months in bilateral ties have been exciting and action-packed, perhaps more so than ever before. The constant shuttle between the gloom and doom of COVID and the ambitions of the government to maximise options and opportunities for producers, manufacturers and industry sectors has been an interesting lesson in how tough times can become a lever for new promising gains.
The IndAus ECTA establishes India’s willingness for global economic integration with countries on deals that are reciprocal, equitable and non-discriminatory in nature. New India is at a position of strength and ready to negotiate on its own terms, asking ‘What’s in it for me?’ Safeguarding the interests of its domestic stakeholders (traders, manufacturers, MSMEs etc.), but also opening new opportunities for them. A tightrope walk, which Commerce Minister Piyush Goyal has moved with trust, transparency, and commitment.
The recent trade agreement will also assist in changing perceptions in the developed world which has always typecast India as ‘protectionist’ and address scepticism around India’s openness to do business with the world. Domestically, there is substantial awareness that the extent to which India opens itself for global trade, will determine the degree to which it can attract investments, drive exports, make domestic industries competitive, incentivise other countries to manufacture in India and boost economic output.
Strong Australia India economic ties will also pave the way for a stronger Indo-Pacific economic architecture, that’s not just based on flows of physical goods, money and people, but on the basis of building capacity led connections, complementarities, sustainable commitments and mutual dependence across countries and sub-regions.
Time is also opportune for India’s APEC membership; the goal of a free and open Indo-Pacific is incomplete without the presence of the world's fastest growing major economy in APEC. It would further enhance India’s role in global governance, encouraging greater economic reforms with improved domestic competitiveness, and economic integration with the region as a whole. Also, with the deepening of Australia India bilateral ties, Australia can explore initiating a support lobby within APEC for India’s membership.
The goal for professional consulting firms (such as Newland Global Group) is to simplify and strengthen trade and investment ties between Australia and India. The journey may have been arduous, but it has definitely transitioned today from ‘Why India’ to ‘How to in India’ – an educated withdrawal from treating India as an option to engaging with it as an informed choice.
India has set itself a target to achieve 5 per cent share in world merchandise exports and 7 per cent in services exports by 2025. IndAus ECTA will facilitate market-seeking approaches of both countries, assist in building brand India and brand Australia in respective markets and develop business confidence. It will bring India to the center of Corporate Australia’s business aspirations and connect Australian corporates to the New India growth story, along with witnessing tariff reductions on traded goods.
However, it is important to note that in any trade deal, governments can open the door, but it is up to business to find the courage to walk through it and strategise and capitalise on existing opportunities. The governments have delivered. Will business follow?
Source:
economictimes
06 Apr, 2022
Development of Mega Food Parks.
Ministry of Food Processing Industries has been implementing Mega FoodPark Scheme (MFPS), a component scheme under the Pradhan Mantri Kisan Sampada Yojana (PMKSY), to create modern infrastructure for the food processing sector along the value chain from farm to market. Ministry does not set up Mega Food Parks on its own. The scheme is demand driven and proposals are invited through Expression of Interest (EOI). Under the scheme, Ministry has approved 41 Mega Food Park projects. Out of this, 22 parks are operational. The details of these Parks are at Annexure. The scheme has been discontinued by the Government with effect from 01.04.2021 with provision for committed liabilities for ongoing projects.
The Ministry is also implementing the Scheme for Creation of Infrastructure for Agro Processing Clusters (similar to mini food park) which is an on-going component scheme under PMKSY for development of modern infrastructure to encourage entrepreneurs to set up food processing units based on cluster approach. The scheme is demand driven and proposals are received through EOI and interested entrepreneurs may participate in the EOIs invited by the Ministry.
This information was given by Minister of State for M/o Food Processing Industries, Shri Prahlad Singh Patel in a written reply in Lok Sabha today
Source:
pib.gov.in
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