The government on Tuesday said the export ban on wheat will continue as long as the country does not feel comfortable with the domestic supplies to meet the food security needs.

 

Addressing a press conference, state-owned Food Corporation of India (FCI) Chairman and Managing Director Ashok K Meena said wheat production has not been impacted due to unseasonal rains. Even after rains, the total wheat output will be at a record 112 million tonne this year.

 

He also mentioned that the government procurement of fresh wheat crop has kick-started, and about 10,727 tonne was purchased at minimum support price (MSP) in Madhya Pradesh on Monday.

 

India, the world's second-largest wheat producer, banned wheat exports in May 2022, with immediate effect as part of measures to control rising domestic prices.

 

'As far as the government is concerned for ensuring the food security of the common man, no export of wheat will be allowed. So, the export ban on wheat will continue as long as the country does not feel comfortable with supplies,' Meena told reporters.

 

Estimated higher wheat production this year will ensure sufficient supplies for both government procurement and general consumption in the Indian market, he said.

 

The government has projected a record wheat production of 112.18 million tonne in the 2023-24 crop year (July-June), as per the second estimate of the agriculture ministry.

 

Meena said the agriculture ministry has estimated a record wheat output, taking into account weather fluctuations.

 

'Rains are a cause of concern as it affects the quality of the grain. The accompanying factor of rain is that the temperature comes down. Low temperature is good for wheat crops for full maturity. Therefore, the estimated quantity of wheat production is likely to be achieved,' he said.

 

As a result, the government's wheat procurement target of 34.15 million tonne will also be achieved, he added.

 

Stating that the FCI has started the wheat procurement operation, Meena said about 10,727 tonne of wheat was procured in Madhya Pradesh on March 27.

 

'The first arrival has started in MP. About 10,727 tonne was procured, though there was huge arrival of 5.56 lakh tonne on Monday,' he said.

 

Procurement on the same date in the year-ago period was nil. The arrivals were huge due to the harvesting of short-duration crops this year.

 

Procurement centres across the country will remain open. Procurement in Punjab and Haryana will begin from April 1 onwards.

 

FCI aims to procure 13.2 million tonne of wheat from Punjab, 7.5 million tonne from Haryana and 8 million tonne from Madhya Pradesh in the 2023-24 marketing year (April-March), he added.

 

Asked if quality norms will be relaxed for the rain-hit wheat crop, Meena said, 'A team will be sent to assess the condition if required. We will take a call based on the report submitted by the team'.

 

The government is confident that the estimated record production will be achieved and the target of procurement will be achieved this year, he asserted.

 

Sharing about the sale of wheat from the buffer stock under the open market sale scheme (OMSS) to check rising wheat and wheat flour prices, Meena said this has been stopped for now as the prices have stabilised.

 

The quantity of wheat sold in the market has led to (mandi) prices coming down from Rs 30 per kg in the last week of January to Rs 22-23 per kg now. The prices will further come down on improved supplies from the harvesting of new crops, he said.

 

About 33.78 lakh tonne of wheat was sold under the OMSS to bulk consumers like wheat flour millers at a discounted rate. About 10,000 tonne were sold to Tamil Nadu, while 60,000 tonne to cooperative Nafed, NCCF and Kendriya Bhandar.

 

Meena said 32.10 lakh tonne of wheat has already been lifted so far, the balance quantity will be lifted before this month-end.

 

On April 1, FCI godowns would have a wheat stock of 84 lakh tonne.

 

Last year, wheat procurement for the central pool declined to 187.92 lakh tonne from 433.44 lakh tonne in the 2021-22 marketing year due to a fall in production in view of heatwaves in some states.

 

FCI is the government's nodal agency that undertakes the procurement and distribution of food grains for the PDS and welfare schemes.

Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal announced that India’s overall exports, that includes services and merchandise exports, have crossed US$ 750 Billion today. This is an all time high and this achievement of 750 billion comes in the 75th year of independence as we celebrate the Azadi Ka Amrit Mahotsav.

 

In his address, Shri Goyal highlighted how the exports have risen from US$ 500 Billion in 2020-2021 to this figure in extremely challenging times.

 

In his keynote address at the ASSOCHAM Annual Session 2023: Strengthening India's Competitiveness in New Delhi today, the Minister stated that there has been healthy growth in both merchandise and service sectors. He said that given the fact that the whole world is in recession, inflation is at an all time high for most developed countries, interest rates are shooting up and there’s a sense of doom and gloom in the rest of the world, India’s performance fills us with pride.

 

The Minister recalled that Prime Minister Narendra Modi had said from the ramparts of the Red Fort on Independence Day that we should get rid of the colonial mindset and recognise our roots and our strengths. He noted that the 5 Prans articulated by the PM will lead to a developed Bharat@100 in 2047 when we celebrate the centenary of our Independence and said that we all need to work with a sense of duty in the spirit of these 5 Prans.

 

The Minister said that the theme of the event 'Bharat@100: Paving the way for inclusive and sustainable global growth' converged with the aspirations of the country’s youth and an emerging young Bharat. He also said that the people desire to see India as an economic superpower leading the world in meeting global challenges. He observed that the world also sees India as a leader on multiple fronts.

 

He observed that ASSOCHAM should lead from the front in the journey of Bharat@100. He also noted that the focus of the Government is in ensuring that the basic needs of more and more families are being met and that as we move ahead, growth will not only be measured in terms of economic progress but also in terms of social progress & human development indicators along with other factors. He observed that with more than 80 Crore people in the country using the internet in this interconnected world, we have a whole new aspirational Bharat and the youth of our country today is demanding more and we need to work together to meet the aspirations of the citizens of the New Bharat.

 

The Minister stated that the domestic market has been growing steadily and over the last 9 years the focus has been on building the foundation blocks which are necessary for an economy to have many years of uninterrupted and sustainable growth. He noted that the first decade in the journey of a developing country becoming a developed country focussed on creation of strong fundamentals, economic framework and stable regulatory practices to attract domestic & international capital. The Minister stated that India is undergoing such a journey and India is lucky to bank upon its large domestic market and also access the whole wide world.

 

The Minister stressed upon the fact that the effort of the Government to make India self-reliant is about not closing doors but further opening them wider with the objective of letting competitive and comparative advantages determine international trade. He expressed hope that each country finds its niche in global trade and the entire world progresses in a sustainable manner. The Minister opined that policymakers need to look at the entire value chain to find out the industries or sectors in which India is most cost competitive, has an edge over others, has niche and some differentiating factor and push for the growth of such industries or sectors. He illustrated this point by stating that the Renewable Energy sector is one such area where India can become the global leader by exploiting the huge export potential and also promote the production of goods & services with least carbon impact.

 

He noted the various initiatives undertaken by the Government for the development of infrastructure like National Infrastructure Pipeline, PM Gati Shakti, Unified Logistics Interface Platform, etc. built upon technology as the backbone of such initiatives. He further appreciated how UPI has democratized the financial payment infrastructure and Open Network for Digital Commerce will promote e-commerce.

 

The Minister said that India’s strong macroeconomy, robust foreign exchange reserves, relatively low inflation and entrepreneurial spirit under the leadership of Prime Minister have brought together the domestic ecosystem to not only to replace items from the import basket but achieve economies of scale and compete in the international market. He expressed that India’s ability to innovate, R&D, spirit of enquiry and out of the box thinking is being witnessed by the world today and all this is reflective of the new spirit of Bharat.

 

The Minister said that the Free Trade Agreements (FTA) signed by India with Australia and UAE have been welcomed by industry across the three countries and there has been positive feedback across media platforms. The speed, quality and extensive stakeholder consultations resulting in finding the right equitable balance has been appreciated by all sections, said the Minister. He also stated that a series of FTAs are under different stages of discussion to further expand the trade of India and will further open up game changing opportunities for the economy.

 

The Minister said that this is India's moment in the Sun and lauded the vision of the Prime Minister who had said that this is the time, this is the right time. He further said that the G20 presidency has given a unique opportunity to position India globally and this must be leveraged by the industry and businesspersons to showcase India’s business across the world.

An international conference on cooperation on trade finance among the G20 member countries was organised by the Ministry of Commerce & Industry on March 28, 2023 at Taj Lands’ End, Bandra (West), Mumbai.

 

The event was hosted by the Department of Commerce and organised by ECGC Limited and India EXIM Bank on the side lines of the 1st G20 Trade and Investment Working Group (TIWG) Meeting in Mumbai. Delegates from the member countries, industry and academic experts from across the world were present at the conference to engage in constructive dialogue and exchange of ideas in the domain of trade finance.

Commerce Secretary, Shri Sunil Barthwal, in his key note address, set the agenda for the meeting. He highlighted that it is the right time to discuss the issues facing trade finance and possible solutions.

 

Two panel discussions were organised as part of the event comprising of international experts. The first panel discussed the role of banks, financial institutions, development finance institutions, and Export Credit Agencies to identify the gaps and address the challenges in the trade finance arena amidst the uncertain global trade landscape.

The second panel discussion focused on accelerating digitalisation and fintech solutions for improving access to trade finance.

 

The session also delved on the current and emerging fintech solutions for making more customized lending decisions and enhancing trade finance supply for MSMEs.

 

The universal message from all the speakers in the conference highlighted the necessity of trade for ensuring prosperity for all and that inclusive trade finance is key to achieve this target.

Digitalisation of international trade is possibly an effective solution towards achieving cost reduction in trade and trade finance. The challenges to be addressed in digitalising trade were identified as international cooperation in harmonising definitions, standards and data sharing across the borders digitally.

While estimates suggest that traditional trade finance gap is currently around USD 2 trillion, bridging the gap needs more players, including multilateral development banks, Export Credit Agencies (ECAs), etc to increase their participation.

Evolution of fintechs and account aggregators in the ecosystem enables transaction risk evaluation based on real time data. This will enable cost effective appraisal by trade finance providers.

The panellists recommended that all nations should endeavour to adopt enabling legislation in the next few years to achieve paperless international trade.

The Karnataka department of horticulture has increased focus on FarmTech to boost efficiency and cost.  This is where start-ups are present and many of them are eyeing the sector to boost growth prospects.

 

The agri-tech start-up sector is also creating several market opportunities, primarily in digitising agriculture, improving farmers access to real-time information, increasing transparency across the value chain, providing farmers with higher-quality implements to increase yields, and providing farmers with micro-financing options to manage risks. These technologies have the potential to revolutionise decision-making and optimise yields, ultimately leading to improved economic outcomes for farmers, according to the officials.

 

The rise in start-up culture across the country has not overlooked the agriculture sector. Several ventures, particularly in Karnataka, have undertaken the task of using technology to grow out of traditional agricultural practices. Their main focus is to provide useful, affordable and innovative solutions to a number of challenges faced across the agricultural value chain. These start-ups act as a platform for networking between farmers, input dealers, wholesalers, retailers and consumers thereby providing growers with access to a strong and well-established market, they noted.

 

There is huge demand for precision farming technology. With new-gen farmers being qualified agriculturists or engineers they have the wherewithal to  conceptualise and commission innovation backed by proof of use of technology across various farm lands.

 

Earlier this month, FarmTech Conclave 2023 created a cohesive platform required to bring all the stakeholders in the farming ecosystem together and provide opportunity to network, share insights, and identify potential partnerships which will drive innovation and progress within the industry.

 

With the theme being ‘Creating Networks for Collaboration and Growth’, the FarmTech conclave showcased  the innovative products, services, and technologies designed to power agriculture and drive its future. In addition to the stakeholders of the farming community, key government representatives discussed, deliberated, identified priorities and proposed an agenda for the growth of the agriculture sector in the country.

 

In an effort to recognise innovation, for the  first time, the Karnataka department of horticulture, introduced the FarmTech Awards to acknowledge AgriTech firms that have demonstrated dynamic leadership and exciting technologies, and for standing out in their chosen areas of AgriTech sector. These awards were given to individuals and companies that have made significant contributions to the development and application of new technologies in the FarmTech sector, and help to promote the growth and sustainability of modern farming practices. The wide range of categories, including precision agriculture, livestock management, food safety, and many others, and are designed to showcase the latest trends, breakthroughs, and advancements in the field. A jury covered leading panel of experts from the industry, policymakers, and academia who evaluated the participating companies based on the predetermined criteria.

Tamil Nadu, which contributes more than 10 percent to the country’s overall technology sector, is hosting Umagine, Asia’s largest tech summit, with an aim to become India’s tech capital. After taking part in a panel discussion around TN’s potential to act as global collaboration centre for tech and Israel’s interests in India, particularly South India, Consul General of Israel to South India - posted in Bengaluru- Tammy Ben-Haim spoke to THE WEEK on the consulate’s aim to bring Israeli companies to build business collaborations between Israel and Tamil Nadu in the future.

 

What is Israel actually looking for from Umagine? What would be the outcome for Israel through this tech summit?

Israel and our consulates to South India want to do more cooperation and have closer ties and do even more than we're doing today in TN in terms of more research and investment in technology.

 

We already have a very good relationship with the TN government. We are doing this by fostering a very good relationship with the IT department here, with the Guidance bureau in Chennai and with many departments in the government and also with the institutions like Tamil Nadu Agriculture University (TNAU), which is into agriculture research. TNAU does a lot of innovative things in Agriculture and Agri tech. We are also working with IIT (Madras). We are looking to be part of the research park at IIT (Madras) and looking to work in areas of research and innovation in ground water.

 

At Umagine, the largest tech summit in Asia, Israel is looking to collaborate with TN in technology and research. At Umagine, the TN government has managed to get in different stakeholders in the fields of technology and research; government officials; entrepreneurs from inside and outside India; business investors and like minded people.

 

You know, it's a good place for us to be because we get to meet all these stakeholders; we get to meet all the people who are interested in doing something in TN. So the result is to get lots of names and ideas.

 

I just met a PhD research student who wants to figure out how to cooperate with Israeli researchers who are doing maybe the same thing she is doing. Companies who are here can have a discussion with Israeli companies. And then of course the government to government can think of new or more things to do with the TN government. Lastly is just to mention the five companies who came here from Israel looking forward to find actual business dealings that we can do together. Whether it's manufacturing here in Tamil Nadu. We're doing a joint venture with Indian companies. So I hope you know many of these things work out.

 

What are the companies from Israel that have already set up facilities in South India?

 

One I want to say this is not a new thing, but Mobileye which of course does the safety driving is working in India already. It was bought by Intel. You can look at it as an American Israeli Indian cooperation, which is amazing.

 

Another good thing is Ola. It just signed a huge MoU with the TN government and last year they brought another Israeli electric battery storage company. The storage company StoreDots signed a MoU for 80 million dollars. So those are two huge examples of good cooperation.

 

But again, these examples don't always have to be so huge. I think building good success stories, even if they're smaller, is the way to save the road. So to speak for definitely cooperation and smart Mobility, but also in general, technology between Israel and India.

 

You are talking about technology. Israel is technologically advanced and there's a lot of research that has been happening in various sectors in Israel. How do you think, the innovations and research can get into South India.

 

As I said we are looking for academic and academic collaboration. At the research level we're looking to work with entrepreneurs to have them exactly. If you said we have this, you know, we just for a longer period of time so we can share our success stories.

 

We can also share our failures and sometimes may be what not to do. We can do it because we have the know-how and we have the knowledge. We're developing the technology. But I think India is a great partner for Israel because it provides and as I mentioned also in the panel it provides a huge database.

 

There is space for actually trying out our technology in a very small protected area and then when you try to do it on a bigger scale like in India, you might find out that, you need to change this and you need to adapt here and you need to develop. So I think it's a great way to work together with the Indian brain and mind of the researchers and entrepreneurs and the Israeli working together first to develop something and then to see if it actually works in the real world.

 

With regard to research in the agriculture sector, where do you stand in terms of collaboration with South India?

 

We’re doing quite a few things, especially in water and trying to reuse water, clean it up and use it in agriculture. This is because sometimes, when we are using water for agriculture, you don't need to bring it to the level of potable water or household water. So it's an easier process at times.

 

Indian especially in South India areas you need to learn to conserve water. So the more we conserve the more we have in addition. So as I said, we're dealing issues with water trying to reuse it for agriculture and the second level is trying ways of protected agriculture in order to get a higher yield because the less land you use the less water. If you get a higher yield you can still feed all the people that you need to feed. You can still provide sustenance. So those are the three issues we're working on.

Out of all 766 districts across 36 States/ UTs, One District One Product has been approved for 713 districts of 35 States/ UTs under Centrally Sponsored 'Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) Scheme' implemented by Ministry of Food Processing Industries (MoFPI).

 

The State of West Bengal has agreed to participate in the scheme in January 2023. It has been approved by the Ministry on the recommendations of States/ UTs for the districts of West Bengal along with newly formed districts across 7 States/ UTs has not been recommended by the respective States/ UTs.

 

The digital map has been developed by the MoFPI, and 710 districts from 35 States and UTs have been indicated. Along with it, districts covering 216 Integrated Tribal Development Areas, 112 Aspirational districts and 35 districts with more than 40% SC population are indicated in the map.

 

MoFPI has approved 76 Incubation Centres across the country with an outlay of 205.95 crore under PMFME Scheme to provide support to existing / prospective entrepreneurs for capacity building, new / innovative product developments etc. across the value chain.

 

The generation of revenue has not been envisaged under PMFME Scheme.

 

The PMFME Scheme provides financial, technical and business support for setting up / upgradation of micro food processing enterprises in the country which inter-alia creates the scope for employment at local level including opportunities for youth.

Indonesia's food procurement agency (Bulog) will import 2 million tonnes of rice until December this year, a Bulog official said.

 

Awaluddin Iqbal, Bulog's corporate secretary said the first phase will see the import of 500,000 tonnes.

 

The policy is aimed at stabilising rice supplies.

The FSSAI has issued an order regarding clearance of imported consignments of food grains including pulses and edible oil wherein the port authorities were asked to facilitate the clearance of such consignments.  

 

'All authorised officers are directed to facilitate and carry out food import clearance process of all such imported consignments without delay,' reads the order issued by the FSSAI.  

 

The order added that importers shall declare and submit the undertaking /declaration in the form as prescribed to concerned Authorised Officer- AOs wherein the FBOs need to mention their details including bills, addresses of the importers and store/warehouse and so on.

 

AOs were also directed to carry out visual inspection of imported consignments and upon satisfactory visual inspection, they were asked to draw samples and issue Provisional No Objection Certificate (P-NOC) without waiting for the analysis report from the laboratory.  

 

'On receipt of the analysis report from the laboratory, the Authorised Officer shall issue the final No Objection Certificate, if product conforms to the FSSAI standards,' reads the order.  

 

The declaration prescribed by the FSSAI also lays down that no part of the consignment shall be released into the market prior to issuance of no objection certificate.  

 

According to the FSSAI, in view of references received from Department of Consumer Affairs and Ministry of Agriculture regarding Indian pulses production, consumption scenario and import requirements, it was decided that the imported consignment of food grains including pulses and crude oil (edible grade) are to be facilitated to ensure timely processing and clearance.

Free Trade Agreement (FTA) among the BIMSTEC countries is at the final stage of formulation with trade being the core agenda when BIMSTEC was established, Bay of Bengal Initiative for Multi-sectoral Technical and Economic Cooperation (BIMSTEC) secretary general Tenzin Lekphell said in Kolkata. BIMSTEC is also creating an energy centre in Bangalore with focus on the potential of clean energy as well.

 

'Trade has been the core agenda since the time of establishment of BIMSTEC. Somehow it did not really give us the fruit which was expected during this course of time. Many experts have come together in the recent past, a lot of meetings took place, negotiations have been done and multilateral discussions took place among the seven member countries. Seven countries coming to consensus and doing negotiations takes time and it is a complex process. Everyone wants the FTA to happen in the region,' Tenzin told ET.

 

'FTA is at the final stages of completion. We are left with a few more details which need to be negotiated. During the 19th minstrel meeting recently, I have requested the trade ministers, trade & commerce secretaries to come together and then advise the working groups. A lot of work on different constituents of FTA has been done and it is actually entering in the final stages,' Tenzin told ET in an exclusive interaction.

 

Talking about the BIMSTEC Energy Centre coming up in Bangalore, Lekhphell said, 'This region has potential for clean energy, especially Bhutan and Nepal with huge potential of hydro-power. We have discussed the energy issue with renewed focus. A BIMSTEC Energy Centre is coming up in Bangalore and details about trading energy will come up with India as the lead country.'

 

Meanwhile, the BIMSTEC has also drafted the Maritime Transport Agreement which is likely to get approval in coming November from the member countries. 'We know the region has a huge potential in terms of waterways as there are so many rivers in the Bay of Bengal region,'Tenzin said, adding that the Maritime Agreement cooperation has been completed. 'In November this year, during the sixth BIMSTEC summit in Bankok, the Maritime Transport Agreement is likely to get the final approval from the seven member countries, after which it can be implemented,' Tenzin said.

 

'Covid made us realize that pandemic is an important agenda and before the pandemic we were focussing more on trade connectivity, energy but there was not much discussion on health. Now the region has realized that health is an important agenda and in future if a situation arises, the region can come together on the issue,' Lekhphell said.

 

The BIMSTEC conference in Kolkata on Saturday was held following the 19th BIMSTEC Ministerial Meeting, which was held earlier this month in New Delhi, a year after the Fifth BIMSTEC Summit held in Colombo. On Saturday, Minister of State (MOS)-Ministry of External Affairs Rajkumar Ranajan Singh inaugurated the two-day BIMSTEC conference marking its 25th Anniversary.