Global goods trade is expected to witness a turnaround in the second quarter of this year due to a recent pickup in export orders, the WTO said on Wednesday. According to the WTO's Goods Trade Barometer, preliminary data suggest that trade remained depressed in the first quarter of 2023.

 

'But the recent pickup in export orders points to an increase in demand for traded goods in the second quarter,' it added.

 

These results are broadly consistent with the WTO's most recent trade forecast issued on April 5, which projects 1.7 per cent growth in world merchandise trade in 2023.

 

The WTO's (World Trade Organisation) expectation augurs well for India, which is struggling to push its outbound shipments.

 

India's exports contracted by 12.7 per cent, the third month in a row, to USD 34.66 billion in April even as the trade deficit reduced to a 20-month low of USD 15.24 billion, the government data showed.

Record production of the main rabi crops — wheat and mustard — has led to a 12-quarter high growth rate of 5.5 per cent in agriculture and allied activities in the fourth quarter (Q4) of 2022–23 (FY23), compared with an upwardly revised 4.7 per cent in the third quarter (Q3).

 

The three-year record gross value added (GVA) growth in agriculture and allied activities came in despite a high base of 4.1 per cent in Q4 of the previous year, 2021–22 (FY22).

 

The growth for the major part of the primary sector was higher than 4.3 per cent for Q4FY23, as projected by the Second Advance Estimates.

 

Part of the reason for higher growth is the Revised Estimates of rabi production in the Third Advance Estimates of agriculture, which belied fears of unseasonal rains having caused damage to crops, particularly wheat.

 

The Third Advance Estimates showed that wheat production in the rabi season was expected to be a record 112.74 million tonnes (mt), which would be 5.5 per cent higher than last year’s production on the back of a sharp rise in acreage and higher yields. February’s Second Advance Estimates pegged it at 112.18 mt.

 

The production of mustard, the main oilseed grown during the rabi season, was projected at a record 12.49 mt, which is 4.43 per cent more than last year’s.

 

However, the Third Advance Estimates showed that the production of chana (gram), which is the biggest among the pulses grown in the country, would be 13.54 mt in FY23, which is the same as last year’s.

 

'The 5.5 per cent Q4 agriculture GVA growth came on a high base effect of 4.1 per cent a year ago. This was unlike Q3. This meant that while heatwaves destroyed wheat crops in Q4FY22, there was no such impact this time around,' said Devendra Pant, chief economist, India Ratings & Research.

 

Before this, agriculture and allied activities growth was higher at 6.8 per cent in Q4 of 2019–20. At that time, it was the major contributor, along with the government-induced public administration, defence, and services, to producing 3.7 per cent GVA growth in a sluggish economy.

 

This time, construction, trade, hospitality, and transport services too played a role in jacking up GVA growth to 6.5 per cent in Q4FY23, notwithstanding slowing down public administration, defence, and services sectors.

 

The Q4 growth in agriculture and allied activities, along with revised Q3 growth, produced a reasonable 4 per cent growth for the sector for FY23, regardless of dismal performance in the first (Q1) and second (Q2) quarters. The growth rate had stood at 3.5 per cent in FY22.

 

The Q3 growth in this sector was revised upwards to 4.7 per cent — a full 1 percentage point up from what was disclosed in February.

 

Meanwhile, the deflators in agriculture and allied activities fell from 5.1 per cent in Q3FY23 to 4.8 per cent in Q4.

Deflators are used to convert current prices into constant prices and represent the rate of inflation. Deflators were as high as 11.1 per cent in Q2 and 11.9 per cent in Q1.

 

While 4.8 per cent is not such a bad number for farmers, it is a reasonable inflation rate for customers too. However, deflators are mostly taken from wholesale prices rather than consumer prices. The effect of wholesale prices on consumer prices came with a lag.

 

The Consumer Price Index-based inflation rate for food items has already started coming down in March and April to 4.79 per cent and 3.84 per cent, respectively.

A National Workshop on 'Per Drop More Crop (PDMC)' was organised by Department of Agriculture& Farmers Welfare (DA&FW), Ministry of Agriculture & Farmers Welfare, Government of India here today to discuss with the stakeholders the various approaches which can be adopted for increasing penetration of micro irrigation in the country. Participants from various Ministries/ Department of Central Government, States and UT’s, Irrigation Industries, Startups working in water management sector and Farmers Producer Organisations were present in the event.

 

Shri Manoj Ahuja, Secretary, Department of Agriculture & Farmers Welfare (DA&FW) inaugurated the event. He emphasised on adoption of technologies in implementation of the programmes and focused approach for enhancing micro-irrigation coverage and thereby increasing overall efficiency and water productivity of agriculture for ensuring food and nutrition security of the country and incomes of the farmers, particularly in rainfed areas. Dr. Himanshu Pathak, Secretary, Department of Agricultural Research & Education (DARE) also addressed the inaugural session. He urged all participants to make efforts for adoption of micro-irrigation on large scale for reducing water footprint of agriculture sector.

 

Shri Franklin L Khobung, Joint Secretary, Ministry of Agriculture & Farmers Welfare explained in detail the Per Drop More Crop (PDMC) Scheme and the progress made so far. It was informed that Department of Agriculture, Farmers Welfare (DA&FW) is implementing a Centrally Sponsored Scheme of Per Drop More Crop (PDMC) from  2015-16 in all the States of the country which  focuses on enhancing water use efficiency at farm level through Micro Irrigation viz. Drip and Sprinkler irrigation systems. An area of 78 lakh ha has been covered under Micro Irrigation from 2015-16 to till date which is about 81% more than the area covered during pre-PDMC 8 years. The Government has been focusing on increasing water productivity in agriculture and thereby sustainable agriculture and incomes of farmers. A Micro Irrigation Fund (MIF) with a corpus of Rs. 5000 Crore has been created with NABARD during 2018-19 with major objective to facilitate the States in mobilizing the resources to provide top up/additional incentives to farmers for incentivising micro irrigation beyond the provisions available under Per Drop More Crop as well as innovative integrated projects including projects in the Public Private Partnership (PPP) for expanding Micro-irrigation. A Budget announcement has been made to double the initial corpus of Micro Irrigation Fund under NABARD, by augmenting it by another Rs. 5,000 crores.

 

During the programme, five Best Gram Panchayats from States of Andhra Pradesh, Gujarat, Rajasthan, Maharashtra and Tamil Nadu were recognised for their efforts in high micro-irrigation adoption and best practices in water management sector. Besides, leading States in the micro-irrigation shared the practices and innovative methods being followed in their States for enhancing the micro-irrigation coverage and their popularity among farmers. Leading experts from Ministry of Jal Shakti flagged the need and strategies to cover micro-irrigation in irrigated commands as well as emphasised its effectiveness in Ground Water management and sustenance. The representative from NABARD elaborated on various financing options available for expanding micro-irrigation in the country. Micro Irrigation industry members expressed their active support for the efforts being made by the Government in this national priority programme.

 

Shri Franklin L Khobung, Joint Secretary, Ministry of Agriculture & Farmers Welfare also held discussion with stakeholders on the draft revised guidelines for implementation of PDMC Scheme.  During the discussion, he highlighted the role of different stakeholders in the successful implementation of the scheme.  He emphasised the need of taking steps by State/UT Govts. in streamlining the implementation procedure and also on the role of MI industries  in  achieving the objectives of the scheme.

The government will introduce the 'world’s largest foodgrain storage scheme' with warehouses in every block in the country under cooperative societies for an allocation of approximately Rs 1 lakh crore, minister Anurag Thakur told reporters after aCabinet briefing on Wednesday.

 

The scheme will utilise funds already allocated for other schemes, Thakur said. Under this scheme, a godown of a capacity of 2000 tonnes will be constructed in every block, or district subdivision. An inter-ministerial committee will be formed for this. The initiative will help reduce damage of foodgrains due to a lack of storage, check distress sales by farmers, reduce import dependence, and create employment opportunities in rural India, the minister said.

 

It will boost food security in the country apart from helping farmers realise better prices for their goods and reducing transportation cost, he said.

 

Besides storing their produce in the facilities, farmers will also be able to get up to 70% loans from these cooperative societies. The programme will be launched as a pilot in 10 districts, and then taken to rest of country. It aims to raise India’s foodgrain storage capacity by 70 million tonnes in the cooperative sector. Currently, grain storage capacity in the country is about 145 million tonnes. In the next five years, this will expand to 215 million tonnes, Thakur said.Creation and operation of infrastructure for storage of grains, such as godowns, will be undertaken by primary agricultural credit societies and block federations.

Sri Lanka will import one million eggs daily from five chicken farms in India to meet its growing market demand, the crisis-hit island nation's top importing agency said on Tuesday.

 

Sri Lanka State Trading Corporation (STC) Chairman Asiri Valisundara said that 20 million eggs were imported from India, of which 10 million have been released to the market.

 

The eggs were being imported from two chicken farms in India, and the Animal Production Department has additionally approved the purchase of eggs from three other farms, Valisundara was quoted as saying by the Colombo Page news portal.

 

STC Chairman Walisundara said it has been decided to import one million eggs daily from five chicken farms in India.

 

He said that permission was received to import eggs from three more farms according to the report given by the three officials of the Animal Production Department and the State Trading Corporation who visited poultry farms in India.

 

The further import of eggs is based on market demand, Valisundara said, the News First TV station reported.

 

He added that the imported eggs would be released to bakeries, biscuit manufacturers, catering services and restaurants at a price of SLR 35 each, the report said.

 

Sri Lanka has been facing a severe and unprecedented economic crisis since last year. The high inflation has eroded purchasing power, and the livelihoods of many people have been affected, and past development gains have been reversed. The island nation is struggling to normalise its crisis-hit economy after it declared its first-ever debt default in April last year.

India's standout growth momentum should sustain through this year of poor global economic expansion on moderating inflation, the central bank said in its annual report, attributing durability of the country's world-beating growth credentials to recent structural reforms undertaken by the Centre.

 

Inflation is already moderating and the external account is sound, the Reserve Bank of India (RBI) said, but the El Nino and its adverse impact on rainfall remain potential threats to macroeconomic stability and food prices. Furthermore, moderating global growth, protracted geopolitical tensions and a possible upsurge in financial market volatility, evident in the implosion of many regional US banks, pose downside risks. 'It is important, therefore, to sustain structural reforms to improve India's medium-term growth potential,' the RBI said.

 

While the growth outlook appears to be more uncertain for several emerging markets as they face food and energy shortages and unsustainable debt overhangs, the RBI credited India's stellar performance to sound macro fundamentals, fiscal policy thrust on capital expenditure, healthy corporate and financial sector balance sheets, and structural reforms implemented over the recent years by the government.

 

'Private Capex may Go Up'

'Domestic economic activity does face challenges from an uninspiring global outlook going forward, but resilient domestic macroeconomic and financial conditions, expected dividends from past reforms and new growth opportunities from global geo-economic shifts place India at an advantageous position,' the central bank said.

 

To be sure, India contributed more than 12% to global growth on average during the past five years. The country is expected to have recorded economic expansion of 7% in real GDP in 2022-23 despite several global shocks.

 

The government's sustained expenditure on building capital assets is expected to be mimicked by the private sector, with several industries already reaching thresholds that should demand addition to capacity.

 

'The crowding-in effects of sustained increase in government capex over recent years is expected to spur higher private investment in 2023-24,' the central bank said.

 

Inflation is also moderating, creating a stable platform for growth sustainability.

 

'Risks to inflation have moderated with downward corrections in global commodity and food prices and easing of the pass-through from high input cost pressures of last year,' the RBI said.

 

Crop Prospects Hinge on Rainfall

Still, food prices could turn erratic in case of rainfall deficiency due to the anticipated El Nino event. Summer-sown (kharif) crop prospects would depend on the progress of rainfall. Otherwise, the inflation trajectory is expected to move down over 2023-24, with headline inflation edging down to 5.2% from the average level of 6.7% recorded last year.

 

The Centre has set the target for grain production at 332 million tonnes in FY24, which is 0.4% above previous year's output.

 

In the external sector, the current account deficit is likely to remain moderate, backed by robust services exports and the salubrious impact of moderation in commodity prices of imports. India Ratings and Research expects the current account to be in surplus of around $6 billion, which is 0.7% of GDP, in the fourth quarter of FY23 after a gap of six quarters.

Union Finance and Corporate Affairs Minister, Smt. Nirmala Sitharaman today chaired the 2nd meeting of the Apex Monitoring Authority constituted to review the activities of National Industrial Corridor Development and Implementation Trust (NICDIT). Union Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution & Textiles, Shri Piyush Goyal and Union Minister of Ports, Shipping and Waterways & Ministry of Ayush, Shri Sarbananda Sonowal also attended the meeting.

 

The Apex Monitoring Authority comprises of Finance Minister as Chairperson, Minister-in- charge, Ministry of Commerce & Industry, Minister of Railways, Minister of Road Transport & Highways, Minister of Shipping, Vice Chairman, NITI Aayog, and Chief Minister(s) of States concerned. Chief Ministers from four states, viz. Gujarat, Haryana, Uttarakhand, and Maharashtra; Ministers from 9 States viz. Bihar, Uttar Pradesh, Madhya Pradesh, Andhra Pradesh, Kerala, Punjab, Jharkhand, Karnataka, and Rajasthan besides senior officials from all the states attended the meeting.

 

Smt. Nirmala Sitharaman at the very outset, thanked the State Chief Ministers and Ministers for their continued support and cooperation in the development of NICDIT projects and appreciated the efforts made by the NICDIT team in the successful implementation of its projects.

 

She emphasized upon the need to ensure continued coordination between the Central and the State Governments and said they should work collectively as ‘Team India.’ Union Finance Minister stated that “FIRE Corridors = F – Freight; I – Industrial; R – Railways; E – Expressways” will ignite industrialization & economic development in India.

 

The Finance Minister stated that the rapidity with which the infrastructure is being developed since 2014 needs to be maintained. She urged the State Governments and NICDIT to maintain the same momentum for realizing the vision of Prime Minister Shri Narendra Modi of a Developed India by 2047. 

 

She urged all the States to tie up loose ends and move forward and resolve all pending issues through greater exchange and sharing of information to expedite the progress of works in the respective States.

 

Shri Piyush Goyal emphasized upon the financial viability of the projects. He urged the States for faster allotment of lands at reasonable rates. He stated that States should adopt innovative models and offer package deals etc. for faster investments. He said that electricity rates should be affordable and consistent as high rates of electricity are a deterrent to the industry.

 

Union Commerce and Industry Minister urged the State Governments to expedite acquisition of contiguous, litigation encumbrance free land and grant early environmental clearances for the NICDIT projects. He further stated that States should focus on expediting the finalization and execution of the Shareholders Agreements and State Support Agreements.

 

He directed NICDC to foreclose the projects where the State Government is not able to provide committed land in a time bound manner and to conceive projects in other states that are willing to offer land to expedite investments in their respective states.

 

He concluded by saying, India is making rapid strides towards Aatmnirbharta and continuous support from States will be the best contribution in this nation building process.

 

Shri Sarbananda Sonowal stated that the development of economic zones in and around ports may also be looked into. This was followed by a special address by Shri Suman K Bery, Vice Chairperson, NITI Aayog. 

 

The meeting started with a brief overview of the National Industrial Corridor Programme by the Secretary, DPIIT & Chairman, NICDC, Shri Rajesh Kumar Singh who talked about the status of land allotment and investment mobilized till date in his welcome address.

 

Smt. Sumita Dawra, Special Secretary- Logistics, DPIIT and CEO & MD, NICDC presented action taken on the directions of the 1st meeting and further spoke about the recent developments in the industrial corridor projects and gave a brief overview about the projects which are in the pipeline. During the presentation, she highlighted the adoption of PM’s GatiShakti National Master Plan in Industrial Corridor projects. Smt. Dawra also apprised that as per the directions of the Union Finance Minister in the previous meeting, Round Table Conferences, Roadshows & meetings with international associations are being organised at different places with the support of States & SPVs. 

 

Chief Ministers/Ministers of Industries/Senior Officials of the respective states spoke about the projects which are/or will be undertaken in their jurisdiction and the steps they are taking to ease the land allotment process and to give faster clearances. They assured that all possible support will be extended to the projects under NICDIT for early implementation on the ground.

 

The meeting proved to be a valuable platform for key stakeholders to discuss and exchange ideas on the progress, challenges, and future strategies related to the National Industrial Corridor Development Program. It presented an opportunity to align efforts, foster collaboration, and accelerate the development of industrial infrastructure across the country. Further steps to be taken into consideration for the advancement of the National Industrial Corridor Development Programme were the main points of discussion during the meeting of Apex Authority.

 

The National Industrial Corridor Development Program aims to establish a network of industrial corridors that will serve as engines of economic growth, promote industrialization, and create employment opportunities across India. The program focuses on developing world-class infrastructure, attracting investments, and fostering sustainable industrial development.

The Food Safety and Standards Authority of India (FSSAI), the country's apex food regulator, will conduct nation-wide surveillance on milk and milk products (such as milk, khoa, chenna, paneer, ghee, butter, curd, and ice cream), in its ongoing effort to curb adulteration of milk and milk products.

 

This Pan-India surveillance will be done on a large scale by collecting samples from both the organised & unorganised sectors in all the districts of the States/ UTs.

 

The rationale behind choosing milk is due to its indispensable role in our food culture either as a fresh fluid or as processed dairy products. Milk contains vital micronutrients and macronutrients. People of every age group include milk or milk products in their daily diet. Changing lifestyle patterns and increasing health consciousness are the key growth drivers for milk and high value milk products in India.

 

In order to sustain the mandate of providing safe and wholesome food for human consumption, the said survey will be initiated with an objective to assess milk and milk products sold in the country for compliance of the quality and safety parameters as given in FSSR, to identify hotspots for adulteration in milk and milk products & to devise corrective actions/ strategies based on the results of the study and suggest a way forward.

 

It is noteworthy to state that in the past few years, FSSAI has conducted several PAN India Surveys on commodities, which includes the Survey on Milk in 2011, and 2016, with sample size of 1,791 and 1,663, respectively. The National Milk Safety and Quality Survey 2018 was conducted in all States and UTs. A total of 6,432 samples of milk from organised and unorganised sectors were collected from 1,103 towns/cities with population above 50,000.  All samples collected were tested for critical parameters of quality and safety.  

 

Further FSSAI conducted the PAN India Milk Products Survey 2020, to understand the true picture of safety and quality of milk products and desserts being sold in the market during festivals. In all 2,801 milk product samples from organised and unorganised sector (Paneer, Khoa, Chhena, Khoa based desserts and Chhena based desserts), were collected from 542 districts across the country. The milk products were tested for all the quality and safety parameters including pesticide residues, heavy metals, crop contaminants, melamine and microbiological parameters.  

 

Similarly, in 2022, FSSAI conducted Milk Survey in selected 12 States (which includes 10 States where the Lumpy Skin Disease (LSD) was prevalent & 2 States as control with no reported outbreak of LSD) due to the outbreak of LSD in cattle in India. The administration of antibiotics/veterinary drugs in

 

affected animals and spraying insecticides in the sheds may result in residual contamination in milk. In order to ascertain the safety of milk, the presence of antibiotics, pesticide residues & heavy metals were assessed in the samples collected. The outcome of the survey revealed that the milk sold in the selected 12 States is largely safe for consumption.  

 

FSSAI has conducted five surveillances on milk and milk products since 2011 and continue to monitor the safety and quality of the food products and always plan to conduct surveillance based on the outbreak of any food related issues and emerging risks.

Over the past few years, the North-East has been seeing a silent but determined movement to promote local millets, such as foxtail, sorghum and pearl, and revive some that had virtually gone extinct. Millet raishan, for instance, used to be a staple food in Nongtraw, in Meghalaya’s Khasi Hills, until the early 1970s. 'It was our rice,' remembers Pius Ranee, executive director of the Meghalaya-based North East Slow Food and Agrobiodiversity Society (Nesfas)— even used in soups, breads, biscuits and local beer. Job’s tears, megaru in Garo and sohriew in Khasi, too had given way to rice and wheat.

 

Now, organisations such as Nesfas, the Nagaland-based Northeast Network and Assam-based Caritas India (FARM North East programme) are working to revive of millet cultivation; it helps that 2023 is being celebrated as the International Year of Millets. Meghalaya’s Mei-Ramew cafés, for instance, have introduced millet dishes, with Nesfas’ support. Mei-Ramew, incidentally, translates to mother earth. After a Nesfas-promoted workshop, Naphisa Mawroh, a local baker in Shillong, has begun producing and marketing millet-based products, including breads, cookies, cupcakes and pizzas, at her café, Samanbha Bakery.

 

For the third consecutive year, exports of non-basmati have surpassed that of basmati. In FY23, non-basmati comprised 24% of the country’s total agricultural and processed food products exports (in terms of value), followed by basmati (18%). Besides this, it was the largest item in agri export basket in FY21 and FY22. Last time, it was in FY20 when the basmati exports were the highest from India.

 

As per data of the Agricultural and Processed Food Products Exports Development Authority (APEDA), the exports of non-basmati during FY23 have been to the tune of Rs 51,089 crore against Rs 45,725 crore in FY22.

 

According to industry, competitive pricing has ensured a surge in rice exports in the last fiscal and adherence to quality parameters has resulted in a significant demand for Indian rice from across the globe.

 

Exporters attribute the rise in exports to robust global demand, especially from the West Asian countries, Africa and Europe.