India's exports to Australia grew 14% since the signing of the India-Australia Economic Cooperation and Trade Agreement (ECTA) with textiles, chemicals, and agriculture growing substantially, and new lines, including gold studded with diamonds and turbojets highlighting the diversification enabled by the agreement, the government said Sunday.

The food processing sector plays an important role in increasing farm income and creating off-farm jobs, reducing post-harvest losses in agriculture and allied sector production through on- and off-farm investments in preservation and processing infrastructure. Accordingly, Ministry of Food Processing Industries has undertaken several initiatives to give impetus to development of food processing sector in the country and has made significant achievements in its schemes during the year of 2024.

India’s exports of agricultural and processed food products rose by over 8% to $14.01 billion during the April-November periods of the current fiscal year compared to FY24 after the government removed most of the restrictions on rice shipment a couple of months back.

India is poised to achieve new heights in foodgrain production in 2025, driven by favourable monsoon, though significant challenges persist in pulses and oilseeds production as the country's agricultural sector shows signs of robust recovery.

The flexible duty, applied previously, could go up to 7% depending on the rouble's exchange rate. The measure will help maintain a balanced ratio between exports and domestic consumption of legumes, the government said in a statement.

Since the beginning of this millennium, India's trade landscape has transformed, with both exports and imports of goods surging by over 12 and 15 times, respectively. This growth has been driven not only by a diversification of product categories but also by an expansion into new geographies, reshaping India’s global trade footprint.

India's growing capabilities in high-value sectors like machinery and electronics are supporting the country's exports, amid global uncertainties caused by conflicts, and the gradual economic recovery in developed markets offers improved growth prospects for the Indian exporting community in 2025. Trade experts suggest that if the new US administration imposes higher tariffs on China, Mexico, and Canada, Indian exporters could benefit further by seizing those opportunities.

The first consignment of 27,000 tonnes of rice has arrived in Bangladesh through Chittagong port.

In a statement to stakeholders in the rice industry, the Ministry announced that 'from 1 January 2025, customs duties and VAT will be suspended on rice imports classified under tariff code 1006.20.90.00 until 31 December 2025.'

According to Bui Trung Thuong, the Trade Counselor of Vietnam in India, the trade turnover between Vietnam and India is expected to surpass 15 billion USD in 2024, and reach 20 billion USD soon.

Agricultural supply chains are fundamental to global food security and economic stability. However, they are fraught with challenges that threaten the livelihoods of farmers and the efficiency of markets. Collateral management emerges as a critical mechanism to address these challenges, offering solutions that mitigate risks and foster trust among stakeholders. This article explores how collateral management reduces risks and enhances agricultural supply chains’ resilience.