India's exports may touch record $800 bn this year: Piyush Goyal.
India's exports are growing significantly and would achieve a record USD 800 billion in 2024-25 fiscal year, Commerce and Industry Minister Piyush Goyal said on Friday. 'Exports have been growing and have risen significantly in the last four years. This year also, there will be growth. We will end the year with over USD 800 billion exports for the very first time in India's history,' Goyal said during Question Hour in the Rajya Sabha.
Source: economictimes.indiatimes.com
Kerala budget 2025: New scheme to make state horticulture hub.
The finance minister announced that the agriculture sector recorded an improved growth rate over the past three years. There was an increase in vegetable production in the state from 6.28 lakh tonnes in 2015-16 to 17.2 lakh tonnes in 2023-24 through more infrastructure development in the agriculture sector. An amount of Rs 727.40 crore is provided for the plan schemes and Rs 115.50 crore is expected as central assistance.
Source: timesofindia.indiatimes.com
India to Inaugurate EFTA Desk to Enhance Trade and Investment under TEPA.
In a significant step towards deepening economic ties with the European Free Trade Association (EFTA), Union Minister for Commerce and Industry Shri Piyush Goyal along with the EFTA bloc represented by H.E. Mrs. Helene Budliger Artieda, Swiss State Secretary, H.E. Mr. Tomas Norvoll, State Secretary of Trade and Industry, Norway, H.E. Martin Eyjolfsson, Permanent Secretary of State, Iceland, H.E. Dominique Hasler, Minister of External Affairs, Education, and Sport, Liechtenstein, Mr. Markus Schlagenhof, Deputy Secretary General, EFTA Secretariat and Mr. David Sveinbhornsson, Senior Officer, EFTA Secretariat, will inaugurate the EFTA Desk at Bharat Mandapam, New Delhi, on February 10, 2025.
Source: pib.gov.in
Asia Rice: Fresh supplies push India rates to 19-month low; Vietnam prices tumble.
Indian rice export prices dropped to an over 19-month low this week, weighed down by rising supplies from the new season crop and a plummeting rupee, while Vietnam's rates slid to their lowest level since early September 2022. India's 5% broken parboiled variety was quoted at $418 to $428 per metric ton this week, down from last week's $429 to $435. Indian 5% broken white rice was quoted at $395 to $405 this week.
Source: economictimes.indiatimes.com
The roadshow hosted by Ministry of Development of North Eastern Region aims to attract investment for the development of North East India.
The Ministry of Development of North Eastern Region (MDoNER) hosted the North East Trade and Investment Roadshow in Chennai on Wednesday. The roadshow evoked strong interest from potential investors who are eager to explore opportunities in the North Eastern States. The event was attended by the Hon’ble Minister, Ministry of Development of North Eastern Region & Ministry of Communications, Shri Jyotiraditya M. Scindia, alongwith Pu Lalnghinglova Hmar, Hon'ble Minister of Sports & Youth Services, Government of Mizoram, senior officials from MDoNER, North Eastern Council and North Eastern States.
Source: pib.gov.in
Global nuts and dry fruits trade show in Mumbai from Feb 12.
Nuts and Dry Fruits Council of India (NDFCI) will conduct second edition of ‘MEWA India 2025’, a B2B exhibition dedicated to the global nuts and dried fruits industry, in Mumbai from February 12-14. A media statement said the event will host over 300 exhibitors and is expected to attract more than 10,000 participants from over 25 countries, providing a unique platform for industry professionals to showcase products and services.
Source: thehindubusinessline.com
India now exports fruits and vegetables to 123 countries.
Thanks to the Agricultural and Processed Food Products Export Development Authority’s (APEDA) support schemes, India’s exports of fruits and vegetables have increased by 47.3 per cent in volume and 41.5 per cent in value terms over the last five years, beginning FY20. India also expanded the reach of its exports of fruits and vegetables to cover 123 countries. Fresh fruits and vegetables from India entered 17 new markets, including Brazil, Georgia, Papua New Guinea, Czech Republic, Uganda, Ghana etc, in the last three years.
Source: domain-b.com
e-NAM Platform expanded to boost agricultural trade with addition of 10 New commodities and their tradable parameters.
In response to the continuous demand from farmers, traders and other stakeholders for inclusion of more agricultural commodities, the Department of Agriculture and Farmers’ Welfare, Government of India has decided to further expand the scope of trade under e-NAM. This initiative aims to increase the coverage of agricultural commodities and offer more opportunities for farmers and traders to benefit from the digital trading platform, Directorate of Marketing and Inspection (DMI) has formulated tradable parameters for 10 additional agricultural commodities. These new commodities parameters are a result of extensive consultation with key stakeholders, including state agencies, traders, subject matter specialists and SFAC and with approval from the Union Minister of Agriculture and Farmers’ Welfare Shri Shivraj Singh Chouhan.
Source: pib.gov.in
Government pegs higher production of onion, tomato and potato for 2024-25 in first estimate.
India's onion production is expected to rise by 19 per cent to 288.77 lakh tonne in the ongoing crop year ending June 2025, according to the agriculture ministry's latest estimate. Production of onion stood at 242.67 lakh tonne in the previous year. The crop year runs from July to June.
Source: economictimes.indiatimes.com
Indian rice offered at lowest price in Bangladesh tender for 50,000 tons.
The lowest price offered in the tender from Bangladesh's state grains buyer to purchase 50,000 metric tons of rice which closed on Thursday was assessed at $434.77 a metric ton CIF liner out, traders said. The offer was made for Indian origin rice by trading house Agrocorp, they said.
Source: economictimes.indiatimes.com