The Indian government’s rice procurement reached 49.98 million tonnes (mt) as of April 30 during the ongoing marketing season from October 1. But it is a tad below 50.03 mt reported in the year-ago period. This may help the Government to provide additional allocation in rations shops, if needed even if wheat procurement falls below its target.

 

Rice procurement from the kharif season during October-April was 49.41 mt against 49,73 mt reported a year ago. The rabi crop, harvested from April, has begun arriving in some States and the Government has purchased 0.57 mt since April 1 against 0.3 mt a year ago. The maximum 0.23 mt purchase of the rabi crop is from Tamil Nadu, followed by 0..18 lt in Andhra Pradesh.

 

The government has set a target of 62.17 mt of rice procurement during 2022-23 season (October-September) which includes 51.56 mt from the kharif season and 10.62 mt in the rabi season. Overall, rice procurement in 2021-22 was 57.59 mt.

 

Wheat procurement

On the other hand, though wheat procurement has surged 38.3 per cent to 22.29 mt in the first month of the procurement period (April-June), only 4.4 per cent of the targetted 5.45 mt has been purchased from all States excluding top three Punjab, Haryana and Madhya Pradesh.

 

.The government has to ensure the deficit in other States is covered, as only 4.4 per cent of the targetted 5.45 mt has bee purchased, so far, if the overall target is to be achieved.

 

While the kharif season’s procurement concluded in all states for rice in March, it continues in West Bengal till this month-end and till June 30 in Assam. Kharif harvesting started early in West Bengal in 2022 because of which the procurement showed an increase. However, it is stuck at 2.07 mt as of April 30, the same as it was until March 31 and there may not be any significant improvement in the State.

 

According to official data for 2022-23 season, the rice procurement was 11.43 mt in October, 10.44 mt in November, 13.72 mt in December, 8.14 mt in January, 4.1 mt in February, 1.39 mt in March and 0.76 mt in April.

 

The Food Corporation of India (FCI) had 24.86 mt of rice and 27.64 mt paddy (over 18.5 mt in terms of rice) as of April 1 in the Central Pool stock. According to APEDA’s crop survey, the country had 9 mt of Basmati rice production during 2022-23 and the Agriculture ministry pegged the total rice output (both Basmati and non-Basmati) at 130.88 mt.

Iranian NSA Ali Shamkhani has pitched for using national currencies for trade with India including in oil during his meeting National Security Advisor Ajit Doval in Tehran on Monday.

 

Shamkhani said using national currencies in bilateral trade between Iran with India would help the two countries achieve their joint economic objectives, officials said.

 

During the meeting, Shamkhani and Doval discussed economic, political, and security issues concerning Iran and India as well as the most important regional and international developments.

 

Stating that improved Iran-India ties are not against any other country, the Iranian NSA underlined that global and regional developments had created very good conditions to strengthen interactions between the two countries in the field of energy, transportation and transit, technology, and banking. India in the past used national currencies for oil trade with Iran and over the last year has introduced trade with number of countries in national currencies.

 

Welcoming the role played by India in regional and international developments, Shamkhani highlighted that Iran considers the active participation of New Delhi in political, economic, and security initiatives with the participation of the countries of Central Asia and the Persian Gulf region as necessary and helpful.

 

Doval, for his part, said that the deep influence of Iranian culture in the daily life of the Indians is a sign of deep ties between the two nations.

 

Doval added that the recent agreement between Iran and Saudi Arabia to normalize their diplomatic ties would have profound regional effects on changing relations in the international system.

 

Emphasizing the need for cooperation between Iran and India to boost stability in Afghanistan, the Indian NSA said the two countries should work together to combat terrorism.

 

He said India considers Chabahar port, in southeastern Iran, as a gateway for increased cooperation between Iran and India. The two also discussed about boosting International North South Transport Corridor.

Indian Business and Professionals Council (IBPC Qatar) in collaboration with the Agriculture and Processed Food Products Export Development Authority (APEDA INDIA), under the initiative of the Embassy of India in Qatar, organised a virtual India–Qatar B2B Meeting (VBSM) between exporters and importers of agriculture on millets and value-added millet products recently.  

 

Charge D’Affairs, Embassy of India to Qatar H E Angeline Premalatha was the Chief Guest. The Meet saw active participation of 100 plus companies from Indo-Qatar business entrepreneurs, joining over the web to forge new business partnerships. While actual numbers are still being worked out, organisers stated that several new business deals were struck during the two-hour Meet.

 

Addressing the gathering, Angeline said that India is the largest producer of millets in the world with an annual production of around 10 million tons. This year 2023 has been declared the International Year of Millets by the United Nations General Assembly (UNGA). India and Qatar have strong bilateral relations and the experts of the two sides take this VBSM based on Millets & Value-Added Millet Productions to newer heights on the occasion of the International Year of Millets. It is humbling to witness the Indian business community taking a step forward toward the promotion and sale of millet products, which have since seen a dramatic increase due to the promotional efforts by Indian businesses.

 

She urged all delegates to take advantage of the meet and explore opportunities for collaboration, cooperation, and establishing new partnerships. She assured the embassy’s full support to Indian and Qatari business houses looking to expand bilateral economic ties between the two nations.

 

Vats stated that APEDA is working with 205 countries, exporting more than 1000 product ranges, and boasts good receptivity to every market, including The Americas, Asia and Europe. Especially this year mainly concentrate on the Millets & Value-Added Millet Products. Speaking on the occasion, IBPC President Jaffer Us Sadiq recounted efforts made by IBPC to enhance bilateral trade and economic ties between the two countries. As part of the International Year of Millets IBPC take the initiative to the Indian business community with much fervor, enthusiasm, and patriotism by promoting Millets and its products at their shops. 

 

IBPC Qatar is dedicated to increasing awareness and widespread use of millets in Qatar through school awareness programs. The sale of millets has not only improved the health of the community but also provided a boost to the local economy. 

 

Dr. Saswati Bose, General Manager APEDA, in her opening remarks, informed how APEDA was endeavoring to ensure Indian food product manufacturers, particularly small and medium-sized ones, reach global markets, and are able to offer their products & solutions to global users.

 

 Dr. Saswati thanked officials of the Indian Embassy and IBPC for their support and cooperation in organizing the Meet. 

 

The event featured the release of the e-catalog done by Smt. Angeline Premalatha , Charge D’Affairs: Embassy of India to Qatar, Jaffer Us Sadiq, President of IBPC and U K Vats General Manager. 

 

The virtual networking session took place with a brief presentation on millets and millet products in India.  The session included introductions by importers from Qatar and Indian exporters, coordinated by IBPC and APEDA, respectively. The networking and Q&A session were also taking place. 

 

IBPC VP Abdul Sathar, who organized this VBSM, expressed IBPC’s gratitude to all the dignitaries, participants, stakeholders, and partners for their support in making the event successful.

The country’s newly announced Foreign Trade Policy (FTP 2023), which took effect from 1 April this year, is a testament to the forward thinking and realistic approach of Indian policymakers. Launched with the aim of achieving a goal of $2 trillion in exports by the end of this decade, it charts a path for international trade as a significant part of India’s journey towards becoming a $5 trillion economy. The new policy has touched upon various aspects of foreign trade on the basis of developments that have happened over the last eight years. Under the new policy, special emphasis has been given to cross-border trade in digital spheres of economic activity and promoting the ease of doing business, as well as trade facilitation, with needs of the Micro, Small and Medium Enterprise (MSME) sector kept especially in mind.

 

This policy is expected to have a significant impact on the country’s MSMEs, which are set to benefit from several measures aimed at promoting exports. Within the scope of the new trade policy, e-commerce exporters now enjoy all the benefits offered to other exporters by the FTP. Reduction in fees, inclusion of duty credit scrips, duty exemptions and remission schemes are some of the key provisions under the policy. These would be beneficial to small sellers and MSMEs, as they are aimed at making it easier and affordable for them to engage and operate in overseas markets.

 

In addition to that, even as the FTP 2023 aims to promote the ease of doing business, it encourages states and districts to address markets abroad and increase their export operations. These steps also make the FTP more dynamic and decentralized, which should create a more conducive ecosystem for the MSME sector to grow and integrate with global value chains.

 

Dak Ghar Niryat Kendras, which are post offices designated to facilitate exports by MSMEs, have been operationalized to work in tandem with Foreign Post Offices under the FTP 2023. This effort will help simplify logistics, facilitate the MSME sector’s cross-border e-commerce thrust and aid small businesses as they aim to reach potential customers in international markets. To further expand e-commerce exports under the scope of the FTP, the government will be setting up the information technology infrastructure needed to streamline such exports.

 

At present, the MSME sector faces several challenges in terms of exporting products and penetrating foreign markets. Among these, to name a few, are a lack of awareness about demand patterns in specific foreign markets and low acquaintance with market insights and incentive schemes, apart from relatively weak technology adoption and lack of access to affordable trade finance schemes.

 

To address these challenges, the government intends to conduct special outreach and training programmes aimed at Indian MSME exporters.

 

Another key measure introduced under the new foreign trade policy is the setting up of special e-commerce export hubs. These designated hubs will help e-commerce exporters in tackling various logistical costs and challenges, such as custom clearances, processing of returned goods and even warehousing. These special facilities will also allow for various last-mile activities, such as repackaging, labelling and testing, which will in turn reduce logistical costs for Indian exporters.

 

To promote this cause further, plans to sort out the challenges of inventory held for exports could also be incorporated in the trade policy, as this would help mitigate turnaround delays, apart from reducing logistical and warehousing costs, both of which are critical for Indian competitiveness in markets abroad . It would go well with the policy’s broad thrust of creating a more conducive environment in general for MSMEs to engage in international trade and help them compete more effectively in global markets.

 

The new trade policy announced by the Union commerce ministry has also doubled the value limit for exports undertaken through courier services from ?5 lakh to ?10 lakh per consignment. Even though this raised cap is a relief for certain sets of Indian exporters, setting a value limit in itself for such exports acts as a limiting factor for businesses which export high-value goods. The overall impact of these measures, however, is expected to be significant, with the policy aiming to increase India’s goods and services exports to $2 trillion by 2030. This is a significant target and will require a nuanced approach, where both exporters and sellers will have to work together smoothly.

 

Given that the e-commerce model that is prevalent in the country is the platform-as-marketplace model, provisions such as simplified payment reconciliation procedures for e-commerce exporters, distinguishing sellers-on-record from exporters-on-record to reduce the compliance burden on small sellers, will help the cause of reaching the country’s export target.

 

The dynamic nature of the policy, which can be revised as we go along, offers a great deal of flexibility and adaptability, enabling Indian policymakers to respond effectively to market shifts and the needs of sellers.

 

In conclusion, the FTP 2023 will help build India as an export hub by enabling and empowering the MSME sector significantly. The policy is expected to provide a significant boost to India’s exports and help the country work towards becoming a developed economy within a quarter century, as envisioned for Amrit Kaal.

A total of 1.77 million tons of rice worth $2.13 billion were imported to Iran from five countries in the fiscal 2022-23, registering a 101% and a 194% rise in terms of weight and value respectively compared with the year before, according to the Islamic Republic of Iran’s Customs Administration.

 

The imports stood at 885,000 tons worth $726 million in the fiscal 2021-22, IRIB News reported.

 

The UAE, Pakistan, Thailand, Turkey and India were the top five rice exporters to Iran during the year that ended on March 20, 2023.

 

India exported 885,000 tons worth $1.16 billion to top the list of rice exporters to Iran during the period and accounted for 54.34% of Iran’s total rice imports.

The commerce ministry has asked export promotion councils to work on export targets for current fiscal year and chalk out a detailed road map to achieve that. According to exporters, issues related to the country's outbound shipments were discussed during a meeting chaired by Commerce and Industry Minister Piyush Goyal on April 24.

 

India's goods and services exports together touched an all-time high of USD 770 billion last fiscal year.While merchandise exports touched USD 447 billion, services exports are estimated at about USD 322 billion.

 

'The ministry has asked us to work on new exports target for this fiscal and explain ways to achieve,' an exporter said.

 

He said it was emphasised that states and Indian missions abroad be involved in achieving the new target.

 

There was also a discussion on organising a major buyer-seller meet to showcase India's prowess in exports.

 

Latin America and African countries hold huge potential to boost exports.

 

Apparel Export Promotion Council Chairman Narendra Goenka, who participated in the April 24 meeting, said though there are global economic uncertainties, the sector is likely to grow by 5-10 per cent this fiscal.

 

The country's merchandise exports are likely to cross USD 500 billion this fiscal due to healthy demand for domestic goods in key global markets, including the US, and benefits from trade pacts, according to exporters.

 

'Together with goods and services, we are targeting exports of USD 900 billion this fiscal,' FIEO Director General Ajay Sahai said.

 

Free trade agreements with the UAE and Australia would provide a huge platform to boost exports in those markets.

 

Ludhiana-based engineering exporter and Hand Tools Association President SC Ralhan said there are healthy signs of economic growth in the US, which accounts for about 18 per cent of India's total outbound shipments.

 

Mumbai-based exporter and Chairman of Technocraft Industries Sharda Kumar Saraf too said that this fiscal would be better than last year for India's exports.

Union Minister of Agriculture & Farmers Welfare, Mr. Narendra Singh Tomar, along with Mr. Rajbir Singh, Managing Director, NAFED, commemorated the launch of the first of its kind ‘Millets Experience Centre (MEC)’ at Dilli Haat, INA, New Delhi last week.

 

NAFED in collaboration with the Ministry of Agriculture and Farmers Welfare (MoA&FW) established the Millets Experience Centre with an aim to raise awareness on Millets and encourage their adoption among the general public.

 

Acting upon India’s proposal supported by 72 countries, the United Nations General Assembly declared the year 2023 as the International Year of Millets (IYM 2023). The declaration positioned India at the forefront of the celebrations and the Government of India has been working on ‘mission mode’ to champion millets as a crop good for farmers, the environment, and consumers.

 

The ministry-led initiative of establishing a consumer-oriented ‘Millets Experience Centre’ would not only promote the dietary benefits of the ancient grain but also popularize millets or Shree Anna as a nutritional powerhouse fit for cooking a variety of dishes like Millets dosa, Millets pasta, etc. In addition to a unique dining experience, customers can also purchase a variety of ready-to-eat and ready-to-cook products from local millet start-ups at the MEC.

 

In his inaugural address, Mr. Tomar praised India’s dynamic celebration of IYM 2023, led by Prime Minister Mr. Narendra Modi. The setting up of the MEC is a step in becoming a ‘Global Hub’ for Millets, he added. Situated in the heart of Delhi, Dilli Haat is a national & cultural hub for visitors from all around the world, the MEC will further help the global outreach of the local millets and provide visitors a chance to witness India’s ‘Millet Movement’, he said.

 

Mr. Tomar also highlighted that the year-long celebrations for millets (Shree Anna) will entail myriad activities aimed at creating awareness around the environmental, health, and economic benefits of millet farming.

 

Mr. Manoj Ahuja, Secretary of the Department of Agriculture & Farmers Welfare, also highlighted the government-led initiatives for mainstreaming millets. Speaking about the collaboration of NAFED and MoA&FW, he said that ventures like the Millets Experience Centre would help widen the horizon for consumers who are actively looking for healthier alternatives and bring visibility to India’s robust millet-based start-up community. He also added that more such Millet Experience Centres are likely to open across Delhi and other states very soon through partnerships with retail chains, hotels, and the F&B industry.

 

Mr. Rajbir Singh, Managing Director, NAFED, praised the joint efforts by the MoA&FW and NAFED for the initiatives being undertaken for the promotion of Millets (Shree Anna) and execution of IYM-2023. He said that the Millets Experience Centre (Shree Anna) is a unique concept that will help in the recognition of the immense potential of millets (Shree Anna) as a versatile and healthy grain.

Iranian NSA Ali Shamkhani has pitched for using national currencies for trade with India including in oil during his meeting National Security Advisor Ajit Doval in Tehran on Monday.

 

Shamkhani said using national currencies in bilateral trade between Iran with India would help the two countries achieve their joint economic objectives, officials said.

 

During the meeting, Shamkhani and Doval discussed economic, political, and security issues concerning Iran and India as well as the most important regional and international developments.

 

Stating that improved Iran-India ties are not against any other country, the Iranian NSA underlined that global and regional developments had created very good conditions to strengthen interactions between the two countries in the field of energy, transportation and transit, technology, and banking. India in the past used national currencies for oil trade with Iran and over the last year has introduced trade with number of countries in national currencies.

 

Welcoming the role played by India in regional and international developments, Shamkhani highlighted that Iran considers the active participation of New Delhi in political, economic, and security initiatives with the participation of the countries of Central Asia and the Persian Gulf region as necessary and helpful.

 

Doval, for his part, said that the deep influence of Iranian culture in the daily life of the Indians is a sign of deep ties between the two nations.

 

Doval added that the recent agreement between Iran and Saudi Arabia to normalize their diplomatic ties would have profound regional effects on changing relations in the international system.

 

Emphasizing the need for cooperation between Iran and India to boost stability in Afghanistan, the Indian NSA said the two countries should work together to combat terrorism.

 

He said India considers Chabahar port, in southeastern Iran, as a gateway for increased cooperation between Iran and India. The two also discussed about boosting International North South Transport Corridor.

Commerce secretary Sunil Barthwal on Monday said that India’s exports to the UAE are expected to reach $50 billion by 2026-27 from $31.3 billion in 2022-23. The two sides signed a trade pact on May 1, 2022 and India’s utilisation of the agreement is the second highest among all its free trade agreements (FTA).

 

In the first year of coming into effect of the Comprehensive Economic Partnership Agreement (CEPA), 54,144 certificates of origin were issued between May 2022-March 2023 only next to 1.49 lakh under the India-Asean FTA.

 

'We are hoping that we would be able to reach $50 billion exports by 2026-27,' Barthwal said, adding that trade between the two countries has gone beyond normal growth for both exports and imports and labour-intensive sectors have seen significant growth.

 

India’s exports to the UAE in 2022-23 rose by 11.8% to $31.3 billion, while imports grew by 18.8% to $53.2 billion in the last fiscal.

 

Non-oil imports rose 4.1% in FY23.

 

Iron and steel exports to the UAE dropped 36% on-year in FY23.

 

India’s exports of essential oils, automobiles, mineral oils, electrical equipment, cereals, perfumery and cosmetic preparations were the biggest gainers in the pact.

 

Imports of aircraft, spacecraft, and parts rose a whopping 4,859% on-year to $1.93 billion in FY23.

 

'UAE is a transit hub and the increase is part of the normal most favoured nation (tariffs),' said an official.

 

Gold imports declined in FY23 due to non-utilisation of the full quota of tariff available under the CEPA.

 

'With the DGFT opening a fresh window of gold tariff rate quota, the gold imports from UAE should go up,' he said.

 

India announced that it will open a fresh window for the import of 140 MT of gold in FY24 at concessional duty from the UAE through an import quota system.

 

Sources said that the meeting of the joint working group will be held in June to discuss the exchange of data between customs of India and the UAE, and also review the trade data under the CEPA.

Farmers engaged in mushroom cultivation in Jammu and Kashmir are upbeat over the government announcement to introduce one of the costliest mushrooms 'Shiitake' for commercial farming in the Union Territory.  The agriculture department will launch commercial farming Shiitake in September after successful field trials of the cultivation of this Japanese-origin variety. 'We are happy. I have heard it (Shiitake mushroom) is being launched in September (for commercial farming). We will go for it,' Mushroom farmer Rahul Sharma told PTI. Sharma, who owns a 4,000-bag unit in the border belt of Marh, said that it is grown in states like Haryana, but it is good news that it will be grown in Jammu for the first time.

 

'Its cost and market value is very good. Farmers would be largely benefited. For Jammu and Kashmir, it will be good to cultivate Shiitake mushroom, as you can grow anywhere due to suitable climate,' he added. Like him, Arvind Kumar, who has been into mushroom farming for the last 15 years, said they were waiting for the success of its trials in Jammu and Kashmir. 'We welcome commercial farming of Shiitake mushrooms. We will adopt it as soon as the government introduces it', he said. The cultivation trials were carried out successfully for spawn production and cultivation of Shiitake mushrooms in a spawn production laboratory in Jammu as well as in fields. It was done on sawdust of broad leaves in polypropylene bags as per the guidelines of the Directorate of Mushroom Research (ICAR), Solan. 

 

'As the trials and standardisation of all the parameters were successful, the cultivation technique of Shiitake mushroom will be transferred to the farmer level in September. This initiative will provide farmers with an opportunity for round-the-year cultivation of mushrooms with enhanced returns,' KK Sharma, Director of the Department of Agriculture, told PTI. All trials turned out to be a success with the growth of fruiting bodies first and full growing up of mushrooms, he added. Shiitake mushroom (Lentinus edodes), which is native to Japan, is a type of edible fungus and contains a chemical called lentinan, which some medical professionals use to boost the immune system. It will be considered a move to bring an economic boom in the farming sector with regard to mushroom cultivation in J&K. 'The fresh mushroom sells for Rs 1,500 per kilo in the market. If we dry it, it is sold at Rs 15,000 per kilo in the market. With the introduction of the Shiitake mushroom, over 2,500 mushroom farmers will benefit directly from its cultivation,' Sharma said.

 

Their farming will be diversified, apart from growing three mushroom varieties - Button, Dingri and Milky mushrooms. The fourth, Shiitake mushroom, will be introduced. It will diversify cropping as well as the farming system. It will benefit economically to all, even small mushroom growers, he noted. Terming it a big immunity booster, he also said that it has anti-carcinogenic properties, used in the treatment of cancer. Aiming to support small-scale farmers, the J&K government is going to implement a full-fledged project at a cost of Rs 42 crore in the next three years for the promotion of round-the-year mushroom cultivation for sustainable and profitable crops. 'The project will be implemented at a cost of around Rs 42 crore over the next three years by the Agriculture Production Department in J&K, which will increase the production of mushrooms by 3.5 times and accordingly, the employment will be generated by 3 times,' Additional Chief Secretary, Agriculture Production Department (APD), Atal Dulloo said.