Basmati rice, tea exports to West Asia come to a grinding halt.
Amid the US-Israel conflict with Iran, exports of basmati rice and tea to West Asia have come to a halt. Exporters said the Strait of Hormuz is shut and three vessels loaded with a total of 100,000 tonnes of basmati rice at Kandla Port have been waiting for the last one week for the route to reopen.
Source: economictimes.indiatimes.com
USTR Greer to travel to India for trade talks, deal possible, senior US official says.
US Trade Representative Jamieson Greer will travel to India the week after the a senior U.S. administration official said on Saturday, saying a trade agreement was possible. Trade would be an issue discussed during President Donald Trump's meeting with Indian Prime Minister Modi during next week's gathering in France, but no agreement on a trade deal was expected at the summit, the official said.
Source: economictimes.indiatimes.com
India's FTAs set stage for $1 trillion export target: Report.
India's new generation of Free Trade Agreements can act as a catalyst for manufacturing expansion, private capex revival and supply-chain integration, with Electronics, Pharmaceuticals and Engineering & Machinery Goods positioned as the strongest beneficiaries. Yes Securities said the agreements, combined with PLI schemes and 'China+1' diversification, give India its clearest shot yet at achieving US$1 trillion in merchandise exports by 2030.
Source: economictimes.indiatimes.com
Assam CM flags off international consignment of GI-tagged Tezpur litchis to Singapore.
In an important step towards increasing the footprints of Assam’s rich horticultural produce in international markets, Chief Minister Himanta Biswa Sarma today ceremonially flagged off the export of a consignment of Geographical Indication (GI)-tagged litchis from Tezpur at the Lokpriya Gopinath Bordoloi International Airport.
Source: economictimes.indiatimes.com
India must expand international trade ties to reach $30 trillion economy vision by 2047: Piyush Goyal.
India must expand its international engagement to realise its vision of becoming a USD 30 trillion economy by 2047, according to Union Minister of Commerce and Industry Piyush Goyal. Speaking at the closing session of the 5th Annual Meeting of the India Global Innovation Connect, the Minister emphasised that India's economic growth is not a zero-sum game. Instead, he argued that the country's trajectory is deeply linked to fostering strategic partnerships with developed nations, which stand to complement rather than compete with Indian industry.
Source: economictimes.indiatimes.com
APEDA releases SOP on rice export to China, orders for immediate compliance.
APEDA has issued a new SOP for rice exports following China’s rejection of non-basmati consignments over alleged GMO (genetically modified organisms) contamination. It has begun to enforce the new procedures from Tuesday (June 9). Keen to protect its footprint in a lucrative neighbouring market that shows strong demand for Indian broken rice, the trade body is acting to cushion the sector against falling export volumes in parts of Africa.
Source: thehindubusinessline.com/
Bitter season for a sweet industry: Kashmir honey output falls sharply.
In the last week of April, when Abid Ali, a beekeeper from the Valley’s sleepy Gangoo village, about 30 kilometres south of Srinagar, returned home with dozens of beehives after spending the entire winter in Rajasthan and Punjab as part of his seasonal migratory beekeeping cycle, he was optimistic about a bumper honey harvest. However, erratic weather conditions, marked by prolonged rainfall and an unusually low temperatures and flowering season, dashed those hopes, leaving him and many other beekeepers in the Valley staring at a sharp decline in production this year.
Source: thehindubusinessline.com
India’s Presidency delivers ‘BRICS Indore Declaration’, a new charter for global agricultural cooperation; Union Minister Shri Shivraj Singh Chouhan addresses press conference.
The BRICS Agriculture Ministers and officials-level meetings held in Indore concluded today with the adoption of a unanimous ‘Indore Declaration’ that includes several historic decisions giving new direction to food security, farmer welfare, climate-resilient farming, agricultural trade and digital agriculture. Union Minister for Agriculture and Farmers’ Welfare, and Rural Development, Shri Shivraj Singh Chouhan said in the press conference that amid global crises and uncertainties, this BRICS meeting has brought a powerful message of hope, confidence and collective responsibility for the entire world. This meeting has shown how countries can come together to address common challenges in agriculture and create solutions that benefit farmers everywhere.
Source: pib.gov.in
West Asia disruptions trigger 25% slump in India’s basmati rice exports; Gulf holds 40-lakh tonne share of India’s 60 lakh tonne basmati trade.
Basmati rice, one of the country’s largest export items to West Asia, is taking a severe hit from the regional crisis. According to the data released by the Commerce and Industry Ministry, its exports have slipped nearly 25% due to a sharp decline in shipments to Gulf countries in the backdrop of the crisis. Dragged by a decline in exports to countries such as Iraq, Iran, Qatar, and Saudi Arabia, India’s total basmati rice exports slipped 27.4% in March and 20.9% in April. Cumulative exports in March and April slipped by 24% to $838.34 million this year compared to $1105.36 million last year, official data showed.
Source: indianexpress.com
India's export credibility under lens as Nepal, Japan curb mango imports.
Nepal recently imposed restrictions on the import of Indian mangoes, citing concerns over high-risk pests. Imports are now permitted subject to prescribed phytosanitary requirements, including mandatory hot-water treatment of mangoes at 48°C for one hour and certification that consignments are free from specified high-risk pests.
Source: deccanherald.com