Around a 100 foreign buyers from above 30 countries are participating in Sourcex India 2023, the flagship reverse buyer seller meet organised by the Federation of Indian Export Organisations (FIEO).

 

'More than 100 foreign buyers from 30 plus countries are attending the event and meeting over 125 plus Indian companies exhibiting top Indian brands,' the apex exporters’ body said on Thursday.

 

The three-day reverse buyer seller meet is being held from March 9-11 in New Delhi.

 

As per A Sakhtivel, president, FIEO, despite global headwinds, Indian exports will give an additional $100 billion over an above what was achieved in 2021-22.

 

FIEO DG & CEO, Ajay Sahai said that branding is key to promoting exports in niche segment and insulating against price sensitivity and suggested a 3-tier strategy to promote brands.

 

'The government should promote India as a brand with a laid down strategy. Product specific councils/associations should promote product as a brand as is being done by Californian Almonds Association for Calfornian Almonds,' he said, adding that companies should develop their own brands, which may require substantial investment for liberal financing may be extended.

In an effort to boost onion exports, the government has decided to send delegations to various countries including Malaysia, Indonesia, the Philippines, Germany, the UK, Qatar, Kuwait, Iraq, Seychelles and Mauritius.

 

The Agricultural and Processed Food Products Export Development Authority (APEDA), in collaboration with the respective Indian missions, will conduct interactions with the respective trade bodies of the countries that would be sourcing onion from India.

 

Sources said a sharp drop in onion prices because of bumper production has led to distress selling by farmers, especially in Maharashtra, the biggest producer.

 

The modal retail prices of onion as per the Department of Consumer Affairs on Tuesday was `20/kg against `40/kg a year back. In December 2019, retail prices touched `100 a kg in many cities, which resulted in a ban on onion exports by the government.

 

Since the beginning of 2021, the government has not imposed a ban on onion exports.

 

'The boost in exports could help mandi prices recover in the coming months,' an official told FE.

 

India exported a record $523 million worth of onion (1.7 million tonne) in the first three quarters of the current fiscal (20223-23), which is 16% more than in the same period last fiscal, the commerce ministry recently said in a statement.

 

In 2021-22, in terms of exports, India stood at third spot in global onion exports, with 1.5 million tonne (mt) of onion worth $ 460 million to various countries. India has around 5% share in global onion trade.

 

Bangladesh (37%), Malaysia (14%), Sri Lanka (12%) and Nepal (8%) had a major share in onion exports in the last fiscal.

 

Onion retail inflation declined by 19.98% on year in January 2023.

 

Negative onion inflation last month was due to a bumper output of 31.12 mt in the 2021-22 crop year, against the production of 26.64 mt in 2020-21.

 

India is the biggest producer of onion and Maharashtra, Madhya Pradesh, Karnataka and Gujarat have more than 60% share in the country’s production.

 

Rabi onion, harvested during April-June, accounts for around 65% of the country’s onion production and meets consumers’ demand till the kharif crop is harvested from October-November. Kharif onions are not stored because of higher moisture content, thus entering the market directly.

 

To address the post-harvest losses of onions, including losses incurred from inefficient storage and processing, the Department of Consumer Affairs has announced a grand challenge for the development of ‘technologies for primary processing, storage and valorisation of onions’.

Australian Prime Minister Anthony Albanese, who is on a 4-day official visit to India, on Thursday said the Economic Cooperation and Trade Agreement (ECTA) signed between the two countries is a transformative agreement, which will unlock the next level of potential in trade and investment.

 

Addressing the India-Australia CEO forum in Mumbai on Thursday, Albanese expressed his sincere appreciation for the large turnout of Australian investors that came to India as well as for the key Indian business houses that participated in the event.

 

He added that the delegation of Australian investors is one of the most serious and high-profile ones to have visited India from Down Under.

 

The Australian PM also voiced optimism about the complementarities between both nations, saying that this juncture is a turning point in accelerating economic cooperation and mutual benefits in the relationship between the two countries.

 

Union Minister Piyush Goyal also participated in the CEO Forum along with Senator Don Farrell, minister for Trade and Tourism in the Australian government.

 

Goyal noted that the current goal of doubling the bilateral trade must be reset by the industries and CEOs present there as there was great potential to increase trade manifold between the two nations. He also reiterated the growth potential of the bilateral trade and investments between India and Australia.

 

The Union minister, from his previous visit to Australia in April 2022, recounted an example of his interaction with the CEO of Cochlear (an Australian hearing implant manufacturer). After the interaction, he reassured them that their current market share in India was only a minuscule of the potential for the business, given India's population, rapid growth in the middle class and the growing demands of the overall economy for a better lifestyle.

 

The Forum was organised by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, along with the Confederation of Indian Industry (CII) in order to leverage the ever-growing trade and investment between the two countries. The forum was co-chaired by Anish Shah, MD and CEO, of Mahindra Group and Shemara Wikramnayake, MD and CEO, of Macquarie Group.

 

Senator Don Farrell pointed out that USD 2.5 billion worth of trade benefitted from the lower tariffs arising from the ECTA agreement in Jan 2023 alone and reassured that this growth will continue to rise further. He urged the industry to think much bigger to satiate the demands of the growing relationship.

 

Both ministers welcomed the convening of the India-Australia CEO Forum and encouraged businesses on both sides to explore emerging economic and investment opportunities.

 

The ministers also expressed satisfaction at the progress of bilateral engagements and affirmed their commitment to further deepen and strengthen the Comprehensive Strategic Partnership for mutual benefit.

 

A four-year extension MoU was also signed between the Confederation of Indian Industry and the Business Council of Australia in the presence of Albanese. This partnership is tipped to go a long way in furthering the business relationship between the two countries.

 

The event also saw the participation from CEOs of leading companies from India and Australia across the sectors like metals and mining, telecom, food processing, education, pharmaceutical, healthcare, medical devices, banking, aviation, education, IT, auto and institutional investors.

 

The forum participants discussed 'How to enhance Economic, Trade and Investment relations between India and Australia, across sectors'.

 

The two countries have a long-standing relationship, characterised by shared values of democracy, multiculturism, economic opportunities and most importantly vibrant diaspora with strong people-to-people links. Both countries value free and open societies, respect for human rights, and the rule of law.

 

In the fiscal year 2022, India was Australia's 9th largest trading partner. Major exports to Australia include petroleum products, textiles and apparel, engineering goods, leather, pearls, mechanical appliances, iron and steel and gems and jewellery. Major imports include edibles, dyeing extracts, chemicals, wool, minerals and precious stones.

Terming the relationship with India a 'top priority', Saudi Arabia Foreign Minister Farhan Al-Saud said that the relationship between both nations has grown exponentially, adding that there is a need for measurable progress in all sectors especially the economic and trade relationship.

 

Highlighting the strong relationship between Prime Minister Narendra Modi and Crown Prince Mohammed bin Salman, the minister said that both leaders want to see actual results, progress in relationship between the countries.

 

'The relationship with India is a top priority and we need to have measurable progress in all sectors especially the economic and trade relationship,' the Saudi Foreign Minister said in an interview with President of Observer Research Foundation (ORF) Samir Saran at Raisina ‘Ideas Pod’.

 

Al-Saud said the relationship between India and Saudi Arabia in the last five years, has grown exponentially.

 

'Part of that is the very strong relationship between Prime Minister Narendra Modi and the Crown Prince who have a very strong working relationship. Both of them are very similar in the sense that they both are very result oriented. They don’t want just a nice talk, they want to see actual results, they want to see progress and that means that we in the government have a very clear direction,' he said while defining the similarities between both the leaders who believe in action.

 

Emphasizing on India’s rising global stature, he said, 'India is a fantastically dynamic country with huge potential and we’ve seen that especially in the last five years, the trajectory for India is fantastic. The potential that India holds is almost unmeasurable.'

 

Acknowledging the fact that India has played an important role in the developmental journey of the Kingdom for several decades given the large Indian presence in Saudi Arabia, he said, 'The connection has existed even before that, you know hundreds of years given the trade relationship. We’re now building on that connection, on that relationship in a way that is not just benefiting both of us, it’s really benefiting the international Community.'

 

He also said that India’s huge size offers great potential as a huge amount of India’s trade to Europe passes through the Red Sea.

 

Earlier, Saleh Eid Al Husseini, Ambassador of the Kingdom of Saudi Arabia to India, said that he wants to bring this relationship to the highest level. Speaking on the celebrations of the Kingdom’s founding day here, the envoy said he was happy to have a strong and friendly relationship between the two countries.

 

Underlining the strong relationship between the Kingdom and India, Husseini said, 'We are very happy to have a strong relationship with our friendly country India. Also for a long time, we have had this relationship and we have been asked to bring this relationship to the highest level that we can.'

 

While speaking on the foundation day celebration, the envoy highlighted the Kingdom’s governance and how the youth has been its focus as the next generation.

 

'We are very proud to have a country that started in 1727 and this year as I said reflects good governance and we hold our future, our children and all our Saudi Arabia is now focusing on youth on the next generation', said the Envoy.

 

'Our country is celebrating around 300 years and this reflects nations’ governance, reflects equity, to have the prosperity of their people. To bring modernization and at the same time to regain the culture of the society. It’s not by chance to be 300 years old unless the state is caring about its neighbours, caring about its people, seeking peace all over the world', added the envoy.

The Jammu and Kashmir Trade Promotion Organization (JKTPO) and District Administrations of Kupwara and Baramulla organised Export promotion workshops under the District as Exports Hub (DEH) & One District One Product (ODOP) in collaboration with DGFT, APEDA, FIEO, India Post, ECGC and other expert agencies working in the field of Exports.

 

To make each District as Export Hub and to improve overall trade and export ecosystem of UT of J&K, the series of the workshopsare being organised on the directions of Principal Secretary, Industries & Commerce, Prashant Goyal and under overall supervision of Managing Director, JKTPO, Khalid Jahangir at district level.

 

Deputy Commissioner, Doifode Sagar Dattatray while inaugurating the workshop and addressing the forum appreciated the JKTPO’s initiative of reaching out to district of J&K for export promotion and also said that the District Kupwara has a great potential of exports in Walnut, Handloom& Handicraft products and red rice (Mushkbudij).

 

He also directed all traders and entrepreneurs to redouble their efforts for proper development of Kupwara based export products so that these products become a brand in the world and Kupwara district becomes an export hub. 

 

He also requested JKTPO to conduct few more capacity building workshops especially for packaging and marketing of walnuts from Kupwara.

 

The Export Workshop in Baramulla was presided over by Deputy Commissioner, Dr. Syed Sehrish Asgar who in her opening remarks saidApple has been selected as ODOP (One District One Product) from district Baramulla with immense potential for exports and other allied derivatives.

 

She also briefed the participants about the benefits of having Import export code and requested the participants to take advantages of such awareness workshops conducted by JKTPO. 

 

District Administration is working in full swing with Government and other export institutions to boost exports and make district Baramulla as a hub of exports for its potential products under District as Export Hub Initiative, she added.

 

The detailed sessions were conducted by the experts on the benefits of exports, the process of getting an Import/Export code, endorsing local products to an international market, credit linkages for exports and credit risk insurance facilities. 

 

The participants were also given an opportunity to interact one on one with the experts and all the queries related to exports were resolved. Special focus was given on ODOP products and other focus products of the Kupwara and Baramulla districts including Walnut, red rice, apples and carpets. Onspot Import/Export codes (IEC) registration was done in these drives.

 

A.K Bhushan, Deputy DGFT, during his address, apprised the participants of the role of DGFT in international trade. He reflected upon the kind of documentation and procedures necessary for entering the international business/IEC registration and other related issues.

 

Debi Prasad, Executive Officer, ECGC Srinagar gave details about Credit Risk Insurance and related services for exports and gave a detailed insight on how exporters can safeguard their shipments and money for exports.

 

Sehreen Maqbool, Business Development Manager, APEDA, Kashmir gave introduction about APEDA and with a focus to take local Horticulture and allied products of Kupwara to a global market.

 

Gaurav Gupta, Dy. Director, FIEO explained about the benefits of registration on Indian Business Portal, Free Online Business, Easy and Affordable Credit Rating and Compliance with the Government.

 

Yonus Gul from India Post, Kashmir Region, shared the attributes of portal Dhak Ghar Niryat Kendras which act as facilitation center for E-Commerce exports. 

 

These workshops were attended by District officers of Industries & Commerce department, Agriculture & Horticulture, Horticulture marketing and Planning and  Handicraft and Handloom along with250+ potential exporters, growers, FPO’s, artisans unit holders and also from District Kupwara and Baramulla.

 

GeM onboarding Drive for ODOP-DEH (Honey) of Ramban District on Government-eMarketplace (GeM) for potential exporters, providing direct access to all the Government departments was also organised by the JKTPO in collaboration with District Administration Ramban and Invest India, DPIIT, Ministry of Commerce.

 

These onboarding drives are held all across UT to onboard the ODOP & DEH products on the GeM platform. Deputy Commissioner, Mussarat Islam, while appreciating the Honey Bee Keepers said that, District has a huge potential for exports of honey. 

 

Honey has been chosen as one of the items under the ODOP/District as Export hub project from district Ramban. He further added that District Administration is actively promoting Honey from Ramban alongside the government and other export organisations. 

 

The GeM onboarding will help local Honey producers to attract the business from different departments across the country. Officers of agriculture department and Members of the Honey FPO from the Ramban district participated in the event and were onboarded on spot on GeM platform.

 

Earlier the team of JKTPO provided a detailed explanation of the advantages of joining the Government e-Marketplace (GeM) as well as a demonstration of how the portal functions.

In a move to harness export potential of millets to the Gulf Cooperation Countries (GCCs), the Agricultural and Processed Food Products Export Development Authority (APEDA), that works under the Ministry of Commerce, Government of India, has signed a Memorandum of Understanding (MoU) with Lulu Hypermarket LLC.

 

APEDA aims to promote millet products and value-added products around the world in association with Lulu Group, which is an international retail hypermarket chain that operates stores and shopping malls across Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, Egypt, India and Far East.

 

As per the agreement, the group will facilitate promotional activities for millet products and enable the country to display millets and its value added products, ready to eat products in international retail chains by sourcing it from Farmer Producer Organisations, Farmer Producer Companies, women entrepreneurs and startups.

 

APEDA will facilitate manufacturers to send various samples of millet products to Lulu Hypermarkets, which will be showcased at its various stores. APEDA, in association with the group, will also provide assistance in labelling of the products in accordance with the requirement of different importing countries.

 

As a part of its series of events for the promotion of International Year of Millets (IYoM) 2023, APEDA is organising export promotion activities for millets in 16 International Trade Fairs.

 

India has exported millets worth $ 46.05 million during April-November 2022-23, and UAE being the major importing country of Indian millets. Signing of MoU will facilitate APEDA’s strategy to promote the export of millets and its value-added products in West Asian countries to achieve the overall set target of $100 million for export of millets and its value-added products by 2025.

 

The MoU was signed between Dr Tarun Bajaj, director APEDA and Salim VI, the chief operating officer of LuLu Group in presence of APEDA chairman Dr M Angamuthu, consul general of India Dr Aman Puri and M.A. Yusuff Ali, chairman & managing director of LuLu Group.

 

M Angamuthu said, 'It’s a mission and vision of Prime Minister Narendra Modi to promote millets in the international market. The APEDA team is ready to provide all required help to exporters, millet producers, women FPOs, to promote Indian millets across the globe. It’s a good opportunity to boost our exports as India has very distinctive traditional varieties of millets which are loved by health-conscious people. The export of millets will help in increasing the income of farmers.'

 

APEDA has also planned to organise millet promotional activities in South Africa, Japan, South Korea, Indonesia, Saudi Arabia, Sydney, Germany, United Kingdom and United States of America by facilitating participation of different stakeholders from India in some of the significant food shows, Buyer Seller Meets and Road Shows.

 

As part of the promotion of Indian millets, APEDA has planned to showcase millets and its value added product at various global platforms such as Foodex, Seoul Food & Hotel Show, Saudi Agro Food, Fine Food Show in Sydney (Australia), Belgium’s Food & Beverages Show, Germany’s BioFach and Anuga Food Fair, San Francisco’s Winter Fancy Food Show.

 

It is estimated that the millets market is set to grow from its current market value of more than $9 billion to over $12 billion by 2025.

India’s non-basmati rice exports surged 4 per cent to 14.56 million tonnes (mt) during the April-January period of the current fiscal from 14.01 mt a year ago. This is despite the Government imposing a 20 per cent export duty on white (raw) rice and banning shipments of fully broken rice.. However, with an upward trend in freight cost, the realisation by exporters may get hit if importing countries do not absorb any increase.

 

The non-basmati rice segment registered a 3 per cent growth in value at $5.17 billion (Rs.41,273 crore) from $5.01 billion in the year-ago period, according to the latest data from the Agricultural and Processed Food Products Export Development Authority (APEDA). In the entire 2021-22, non-basmati rice export was 17.26 mt worth $6.12 billion (Rs.45,652.35 crore).

 

Freight uptrend

Exporters said when the government imposed the duty in September last year, the freight cost was about $100-$120/tonne and it was declining. While it dropped to about $50/tonne in February, it began to show an uptrend in the first week.

 

'Importing countries did not feel the impact of export duty as in the same period there was a fall in the freight cost. One thing is established the world now knows India as a credible destination for non-basmati rice,' said BV Krishna Rao, President of The Rice Exporters Association (TREA). There is no concern for now and exporters are ready to wait for the next kharif crop’s arrival in October to see if any policy change will be required, Rao said.

 

He said the increase in non-basmati rice has to be seen amid the crop failure in Pakistan and also the quantitative restriction in Myanmar. However, he said: 'The world needs Indian rice. We will seek a change in policy if at all there is a drop in export.'

 

Fair assessment in Sept

Rao further said even after the imposition of export duty, neither there is a substantial improvement in procurement, nor a decline in export. He said a fair assessment could be made by September about how the kharif paddy crop would be and a decision could help exporters to enter into new contracts for shipments from October-November.

 

'As no fresh crop from any other origin to come before September, we are fairly covered till then. A policy review at that time will be definitely of help,' Rao said.

 

Meanwhile, basmati rice increased 41 per cent to $3.82 billion (Rs.30,514 crore) in the 10 months to January and there was an 18 per cent surge in volume to 3.66 mt. Total exports of rice (both non-basmati and basmati) increased 16 per cent to $8.98 billion (Rs.71,787 crore).

Amid the fall in onion prices, the government on Tuesday said it has directed cooperatives Nafed and NCCF to intervene in the market and immediately start procurement of red onion directly from farmers. National Agricultural Cooperative Marketing Federation of India Limited (Nafed) and National Consumers Cooperative Federation of India Limited (NCCF) have also been directed to simultaneously sell the procured onions in the consumption centres.

 

'Prices remained stable due to consistency in demand and supplies as well as export potential. However, the month of February saw a decline in prices of red onion, particularly in the State of Maharashtra where the modal rate dropped to Rs 500 -700/quintal,' the agriculture ministry said in a statement.

 

Experts attribute this fall due to increased production in other states, reducing dependence on the supplies from the major producing district of the country -- Nashik, it added.

 

In view of falling prices and to protect the interest of farmers, the ministry has directed two cooperatives Nafed and NCCF to immediately intervene in the market for the purchase of red onion. Nafed began the procurement on February 24 and has already purchased 4,000 tonne at above Rs 900 per quintal directly from farmers so far, the statement said.

 

Nafed has opened 40 procurement centres where farmers can sell their stock and get their payment online. It has made arrangements for the movement of the stock from purchase centres to Delhi, Kolkata, Guwahati, Bhubaneshwar, Bangalore, Chennai, Hyderabad and Kochi, it noted.

 

The government has been creating a buffer stock of onion in the last few years under the Price Stabilization Fund scheme to keep the supply chain smooth during the lean seasons.

 

In 2021-22, Nafed purchased 2.51 lakh tonne of rabi onion for buffer. This year, the government aims to buy 2.5 lakh tonne.

 

The Centre is in touch with state governments and keeping a close watch on the market so that additional interventions, if required, are taken for the benefit of farmers, as per the statement. Onion production in the country is pegged higher at 318 lakh tonne in the 2022-23 crop year (July-June) against 316.98 lakh tonne in the previous year.

Moving closer to its aim of self-sufficiency in milk production, the Kerala government will implement the Dairy Village project in 40 more panchayats during the next financial year, Minister for Animal Husbandry, Dairy Development and Milk Cooperatives J Chinchurani said.

 

The proposed plan envisages payment of ?50 lakh for each chosen panchayat, with the amount being contributed equally by the civic body and the State government, she said after inaugurating Milma’s H2F (Help to Farmers) project in Kochi.

 

The announcement comes one-and-a-half months after the government announced ?12.5 crore to implement the Ksheera Gramam (Dairy Village) project under the State’s Commercial Dairy Milk and Milk Shed Development Programme.

 

'From 20, we are doubling the number of the panchayats,' the Minister said at the function, which also saw the release of four new Milma products.

 

Appealing to dairy farmers to go for total insurance cover for their cows and calves, the Minister said the government has been striving to improve the efficiency of the State’s dairy sector by enabling a rise in the volume of milk per cow.

 

'When Punjab stands first in the country with 14.5 litres of milk a day from a cow, Kerala comes second with 10.6 litres. We need to go up the rank,' she said.

 

Releasing the logo of H2F, Chinchurani also announced the launch of compensation to APCOS (Anand Pattern Cooperative Societies) in the event of damage to their buildings owing to natural disasters. She also declared open a scheme that entitles farmers with a minimal refund if they lose their cow or calf unexpectedly.

 

The government will implement the decisions taken at the recently concluded State Dairy Development Department conclave on the timing of milking the cows to increase their efficacy.

 

'We are trying to fix the time at dawn and dusk in place of the current general practice of small hours and afternoon. This will ensure an ideal gap of 12 hours and also facilitate the dairy farmers to engage in other day-time jobs that can increase their income,' she said.

 

Milma’s also released new products such as sugar-free Peda, Chocolate Peda, Jack Fruit Peda and Guava Ice-cream.

 

ERCMPU Chairman MT Jayan said the cooperative union has submitted to the government a set of developmental projects totalling ?40 crore. 'As much as 83 per cent of Milma’s revenues go to the farmers, while the rest is used for welfare purposes,' he added.

The FSSAI has decided to extend the enforcement of regulations related to advertising & claims related to brand names identical with the characteristics of the product like fresh and natural. The food regulator has decided that the enforcement of these regulations shall be extended by six months from the date of notification so that the food businesses can exhaust their existing pre-printed packages.

 

Called the Food Safety and Standards (Advertising and Claims) Second Amendment Regulations, 2022, this regulation was notified in the Gazette of India on December 13, 2022, and enforced with immediate effect.

 

However, the food businesses made representations before the food authority seeking time as there was small but significant difference in the draft and final notification with respect to front of the pack labelling of such brand names.

 

'After due consideration of the representations of the food business operators and also to ensure sustainable practices for food business operations, it has been decided to extend the enforcement of sub-regulation (7) of regulation 4 of Food Safety and Standards (Advertising and Claims) Second Amendment Regulations, 2022 for a period of six months from the date of notification,' reads the direction issued by the FSSAI.

 

The sub-regulation (7) of regulation 4 of the final amended regulations specifies that in case of trade mark, brand name or fancy name containing adjectives such as 'natural', 'fresh', 'pure' etc., a disclaimer 'This is only a brand name or trademark, or fancy name and does not represent its true nature:(relevant one may be chosen as applicable)' shall be mentioned 'prominently' on the front of pack of the label.

 

It is pertinent to note that in the direction dated Oct 26, 2021, regarding enforcement of Food Safety and Standards (Advertising and Claims) Regulations, 2018, & re-operationalisation of Food Safety and Standards (Advertising and Claims) Amendment Regulations, 2021; sub-regulation (7) of regulation 4 specifies that in case of trade mark, brand name or fancy name containing adjectives such as 'natural', 'fresh', 'pure' etc., a disclaimer 'This is only a brand name or trade mark and does not represent its true nature' shall be mentioned 'below such trade mark, brand name or fancy name'.

 

The same provision was also included in the draft Food Safety and Standards (Advertising and Claims) Amendment Regulations, 2021, notified in the Gazette of India on Dec 27, 2021.

 

According to the FSSAI, representations were received from the stakeholders requesting an extension of implementation of the sub-regulation-7 due to the change in the final notification vis-a-vis draft notification as this would require changes in the artwork of the label and also to exhaust the existing old inventory of packaging materials.