The government on Friday exempted advance authorisation holders and export-oriented units (EOUs) from mandatory quality control orders for imported goods that are used as inputs for exports. It said that the exemption will be with pre-import conditions, and those inputs will be utilised in the manufacturing of the export products.

 

'Enabling provisions are made for exempting inputs imported by Advance Authorisation holders and EOUs from mandatory Quality Control Orders (QCOs),' the Directorate General of Foreign Trade (DGFT) said in a notification.

 

The unutilised material will be destroyed in the presence of jurisdictional GST/customs authorities, it added.

 

Mandatory QCOs help curb the import of sub-standard products, prevent unfair trade practices and ensure the safety and well-being of consumers as well as the environment.

 

QCOs are applicable for products domestically manufactured as well as imported. Every manufacturing unit in and outside India has to comply with these orders if they want to sell in the domestic market.

 

The focus of the government is to bring more and more products under the ambit of QCOs for the development of the quality ecosystem in the country and to provide consumers with quality products.

 

Union Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Shri Piyush Goyal announced the extension of Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme support to additional export sectors in New Delhi today. The Government of India has announced extension of the RoDTEP Scheme support to additional export sectors i.e. Advance Authorisation (AA) holders, Export Oriented Units (EOU) and Special Economic Zones (SEZ) export units. This decision comes in recognition of the significant contribution these sectors make to India’s Exports, constituting approximately 25% of our exports. Amidst global economic uncertainties and supply chain disruptions, extending RoDTEP to the uncovered sectors such as AA, EOU, and SEZ units will help the exporting community in handling the international headwinds.

 

The Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme is a key initiative by the Government of India aimed at refunding various embedded taxes and duties on exported products. Since its inception in January 2021, the RoDTEP Scheme has already provided support amounting to Rs.42,000 Crores to more than 10,500 export items at 8-digit ITC HS Code level. In the current financial year, the scheme has a budget of Rs.15,070 Crore with an additional increase of 10% in FY 2024-25.

 

Keeping budgetary allocation in view, the extension of RODTEP to additional sectors is presently till 30.09.2024. The extension of the RODTEP scheme to these sectors is aimed at enhancing India’s export competitiveness in international markets. Key sectors such as Engineering, Textiles, Chemicals, Pharmaceuticals & Food Processing and many others stand to benefit from the measure.

 

By providing support to crucial export sectors, the government aims to not only enhance their competitiveness but also create employment opportunities and contribute to overall economic growth, aligning with the vision of building an Aatmanirbhar Bharat. The government is confident that the proactive measures being taken, including efforts to negotiate new FTAs, will further accelerate India’s journey towards achieving USD One trillion merchandise export levels.

Shortly after New Delhi inked a USD 100 billion free trade pact with a four-member European bloc, Norway on Sunday said it will eliminate customs duties for almost 98 per cent of the imports from India under the framework of the pact. The ambitious trade pact, signed between India and the European Free Trade Association (EFTA) comprising Norway, Switzerland, Iceland and Liechtenstein, aims to expand trade across a range of areas including pharmaceuticals, manufacturing, new technologies and machinery.

 

After the EEA (European Economic Area) agreement, this could become one of the most important trade agreements Norway has ever entered, said Norwegian Prime Minister Jonas Gahr Stoere.

 

At a media briefing, Norway's Minister of Trade and Industry Jan Christian Vestre described the Trade and Economic Partnership Agreement (TEPA) as a major result-oriented milestone that would not only boost two-way trade but also promote a rules-based trading system.

 

'Norwegian businesses that export to India today meet high tariff barriers of up to 40 per cent on certain goods. With this new agreement we have secured zero tariff on almost all Norwegian exports to India,' he said.

 

'This is a breakthrough that can mean a lot for workplaces throughout Norway,' he said.

 

Vestre said India is a 'economic and political power house' with an extraordinary economic growth rate that it is set to continue in years to come and Norwegian companies will have a lot of opportunities in the country.

 

'We will eliminate all customs duties for almost 98 per cent of the imports from India including all important goods and services. For Indian companies, it will be a great opportunity,' he said.

 

The pact will come into force following completion of the ratification process by the signatories.

 

'For our companies exporting to India, the customs duties today are between 5 to 40 per cent and 93 per cent of that customs duty will be under zero per cent in 10 years from now,' he said.

 

Asked about the proposed USD 100 billion investment by the four EFTA countries in India in the next 15 years, Vestre said it will be for the private companies to achieve the goal.

 

'It is a binding commitment to promote investment and the goal is USD 100 billion and one million jobs. It is up to the private companies and businesses,' he said.

 

'After 15 years we will sit down and find ways to ensure that it happens,' he said, replying to a question on what the EFTA would do if the goal is not met.

 

Vestre said the EFTA bloc will set up an office in India to coordinate implementation of the mega trade deal.

 

'The four EFTA countries all together will mobilise private investments and the goal is to ensure USD 100 billion investment by the next two decades besides one ensuring million jobs,' he said.

 

At present, around 130 Norwegian companies are operating in different sectors in India including in areas of infrastructure, construction, renewable energy and technology.

 

A Norwegian readout said the TEPA also includes a reference to human rights.

 

Human rights are a central part of Norwegian foreign policy. Therefore, it has been important for Norway to include human rights and international environmental conventions as a part of the agreement, said PM Gahr Stoere.

 

In his remarks, Vestre also referred to geopolitical tensions and how the pact climate ambitions.

 

In a turbulent world, with geopolitical tensions, it is important to strengthen the ties between India and the West, he said.

 

The agreement also elevates climate ambitions and will ensure worker's and women's rights, Vestre added.

 

'The EFTA countries commit to promoting investments and the creation of more jobs in India. A designated office will be established in India to support Norwegian businesses in operating in the Indian market,' the readout said.

 

It said India will undergo a major green and digital transition, and in this context, Norwegian businesses have a lot to offer, from renewable energy and health technology to green mobility and seafood.

 

The agreement provides large possibilities for trade and investments in a market that is growing rapidly.

 

Through investments in India, Norwegian businesses can contribute to sustainable development, said Vestre.

India on Sunday signed a trade and economic partnership agreement with the European Free Trade Association (EFTA) - a grouping of Switzerland, Norway, Liechtenstein and Iceland - that includes a binding $100-billion investment commitment.

 

As part of the Trade and Economic Partnership Agreement (TEPA), EFTA has committed to promote investments to increase the stock of foreign direct investments (FDI) in India by $100 billion in the next 15 years, and to facilitate the generation of one million direct employment in India through such investments, the government said in a statement.

 

'The global leadership of EFTA countries in innovation and R&D across diverse spheres...will open up new doors of collaboration,' PM Narendra Modi said about the trade agreement.

 

Commerce and industry minister Piyush Goyal said India is signing an FTA with four developed nations for the first time. It is a 'modern and ambitious' trade agreement with an important economic bloc in Europe, he said.

 

FDI of $50 billion is expected to flow in the first 10 years, with another $50 billion expected to come in the following five years. 'The investment flow may be larger than we have estimated. We will mutually work out if there is any shortfall in investment,' Goyal said, noting that investment from EFTA has grown at a compounded annual growth rate of 13% in the last decade.

 

Officials said the agreement gives India the right to rebalance or suspend concessions if the investment value is not realised. They also stated that the deal provides legal certainty in terms of tariff regime and investment relations.

 

The investments are hinged on the nominal GDP growth of 9%, officials said. Goyal said India has included several elements such as environment, trade, IPR, and gender for the first time in TEPA. 'The free trade agreement balances asymmetries within economies of the EFTA region and Indian economy,' the minister said.

 

TEPA is the fourth major deal signed by India to promote trade and economic cooperation in the last three years. The others are with Australia, Mauritius and the UAE.

 

The deal has got a thumbs-up from the industry. 'Improved market access for goods will boost India's export potential to EFTA markets and greatly expand employment opportunities, especially with the historic $100 billion committed investment from the EFTA region,' said Chandrajit Banerjee, director general of the Confederation of Indian Industry (CII).

India is poised to become the largest member of the World Trade Centers Association (WTCA), potentially surpassing China within five years, according to John E. Drew, Chairman of the WTCA, an international trade organisation that connects over 300 World Trade Centres in nearly 100 countries. In a chat with ET’s Vinod Mahanta, Drew talks about the brand’s India plans, rise of India in the global economy, doing business in the era of deglobalisation and dealing with disruptive models like WeWork. Edited excerpts:

 

How has the World Trade Center (WTC) brand been faring in India, and what are the plans for its expansion and development in the country?

 

The brand presence in India has been established since nearly the inception of the World Trade Center Association group in Mumbai. Memberships date back to the 1980s, indicating a longstanding and robust relationship. Numerous meetings, primarily sponsored by Mumbai, have taken place, including general assembly meetings and regional forums. This deep connection with India has facilitated interactions with other Indian groups holding World Trade Center licences.

 

It's worth noting that the association is not new; it has a rich history of fostering economic growth and prosperity through collaboration with Indian developers interested in establishing a distinct brand identity. These developers are increasingly keen on assuming the dual roles of developer and trade services provider. The association's role extends to working with such entities to encourage economic development and forge connections between its members worldwide.

 

The association positions itself as a trusted advisor, facilitating business discussions and providing background checks on potential partners to ensure credibility and reliability. This aspect is crucial in international business dealings, where making connections is relatively easy, but verifying the authenticity of partners can be challenging.

 

Moreover, the association's brand carries significant value and recognition in India and globally, enhancing leasing prospects and potentially securing better rates for affiliated buildings. While assuming the responsibility of upholding the brand requires effort, the benefits, both locally and internationally, are substantial.

 

WTCA has about 40 licensees in India, covering more than 30 Indian cities. Did WTCA have a different strategy for India?

 

It's quite surprising how several years ago, there was a notable occurrence where a particular company sought multiple sites and was granted them. They operated under a different concept known as a "spoke-and-wheel" model. This approach involved centralised services distributed across a network of buildings, with the services being concentrated in one or two primary trade centers within each city. This experimental approach diverges from the traditional expectation of services being integrated directly within each building by an associated team.

 

This model has its merits and is being explored, though typically we anticipate that the services will be housed within the building itself, providing a more direct connection. However, this shift in approach may also reflect broader economic dynamics, including the fluctuations in the global and Indian economies. As a developer myself, I understand the importance of market conditions and rates in influencing development decisions.

 

The development of these trade centers is a focal point for us, and we are committed to expediting their progress. We aim to see every city holding a World Trade Center license actively engaged. Therefore, a significant portion of our staff's efforts are dedicated to activating cities that are still in the developmental phase. While these cities are already members and participate in our meetings, we strive for them to progress further and establish operational capabilities in each city where they have a presence.

 

What is the selection criteria WTCA uses to select members?

 

We have a rigorous screening process for potential members, starting with an initial briefing. Subsequently, we guide them through a comprehensive background program to understand their business and expansion plans. Emphasising the importance of securing development sites, we ensure members have detailed plans in place. Our goal is to help them navigate potential challenges and understand market dynamics. We offer guidance on real estate development and enforce timely activation of trade services. Additionally, we provide access to experienced real estate advisors within the association to support strategic planning. This hands-on approach has significantly accelerated our association's growth.

 

How does the current trend towards deglobalisation, alongside risky geopolitical situations and businesses realigning their supply chains and operations, impact the growth and trajectory of the WTCA brand and business?

 

It truly does affect our business. In some respects, it's advantageous for us to pivot. Being able to provide consultation services to our members adds value. The intricacies of navigating a complex world are even more pronounced now. Consider the trade service aspect; issues like new tariffs and regulatory controls, once thought to be fading, are resurfacing. This complexity poses challenges for small and midsize businesses. Our association fills the gap by offering practical advice and support. For instance, our team in Ireland assists smaller companies in understanding logistics for international trade. It's essential to balance positivity with factual information. These qualifications reinforce the value of our association. We must address the ongoing changes and offer practical guidance. While we're not solely focused on economics, our hands-on approach to business allows us to speak from the perspective of our members and provide solutions to their challenges in international trade.

 

So if I am a member in India and I want to understand the business situation in Russia, Europe, or China, how would it work?

 

In a two-step process, let's say a licensee in Mumbai or Bangalore encounters an issue and wants to delve deeper into understanding Russia or any other country. Here's how we can assist:Firstly, we have resources available at our central office in New York, including our resource center, which we can immediately make accessible to you.

 

Secondly, we can directly connect you with the World Trade Center in Moscow. We'll share your questions with them, enabling you to communicate directly and obtain answers. They are well-positioned to facilitate this process and provide accurate insights. If they encounter difficulty in addressing your queries, they can redirect you to the appropriate resources.

 

We see it as a shared responsibility among members to support one another in navigating such challenges. This collaborative approach underscores our commitment to facilitating knowledge exchange and problem-solving. The close ties between the World Trade Center team in Moscow and the government ensure reliable information. Ultimately, our goal is to connect you with the most suitable source for accurate and timely answers.

 

From your perspective as a business leader with a global outlook, how do you perceive the rise of India's economy over the past few years, considering it is now the fifth-largest economy?

 

I would say, particularly in the last 10 years, India's presence on the global stage has become increasingly pronounced. While India's growth trajectory has been ongoing, its recognition and active participation in major economic discussions alongside China, the US, Russia, and the EU signify its emergence as a significant player in the global economy. The influx of Indian students studying at universities in the US has notably increased, contributing to India's visibility in international settings. This trend, which was previously unaffordable for many Indian families, has become more accessible over the past two decades. Additionally, the rise of Indian entrepreneurs establishing successful companies in the US, particularly in tech hubs like California and Massachusetts, has further solidified India's influence in global business. This trend is expected to continue, paralleling the trajectory seen with Chinese entrepreneurship.

 

Do you expect Indo-US trade to increase, given that more US businesses are outsourcing work to Indian global capability centers and setting up more manufacturing units in India?

 

It's undoubtedly a yes, but I believe the trajectory will be swifter and more intentional this time around. Unlike the scenario with China, where manufacturing was primarily driven by cost considerations, the situation with India is marked by a significant emphasis on intellectual property. India's strength lies not just in its lower costs but also in its intellectual capabilities and educational standards, enabling it to tackle more complex projects adeptly. However, a critical aspect that needs attention is infrastructure development. Outside investment, like ours, must play a role in building necessary infrastructure, such as office buildings and factories, to support the growing economy. This is where external support remains crucial in propelling India's business landscape forward.

 

China has a large number of WTCAs across cities. Is the China business the largest outside of the US?

 

It has the largest membership. It’s fascinating to note how our membership, particularly in China, has evolved over time. Initially, CCPIT (China Council for the Promotion of International Trade) played a significant role in sponsoring and overseeing the development of World Trade Centers in China.

 

Then individual developers came in, often with outside investment.

 

Lately, there has been a slowdown in financing from Chinese banks for such projects.

 

Interestingly, our Chinese board members, especially those who operate independently, have found a unique niche within this evolving landscape. They utilise the World Trade Center platform to offer services that complement those provided by the government, catering to individual companies and sponsoring localised events to stimulate business growth. Unlike the CCPIT-led approach, which focused on large-scale exhibitions and conferences, these independent members organise smaller, more targeted events that cater to specific business needs.

 

While there have been some challenges, such as difficulties faced by members heavily reliant on Chinese bank financing, the overall trajectory in China remains dynamic. However, it's worth noting that India will surpass China in terms of membership numbers in the next five years.

 

 

The global economy is showing mixed signals, with the EU and US slowing down and India growing at 6+ percent. What’s your take on the state of the global economy?

 

I find it very interesting. In the United States, efforts to temper the economy have had some effect, but not as much as anticipated. What we are beginning to see is that interest rates have slowed down housing development, Covid-19 slowed down office development. The US is winding up with surplus office space because of the work-from-home trend.

 

There's a gradual push to bring employees back for training and socialisation. However, this process is slower than expected. That's affecting us. Spending is down a bit, but it's not showing because prices are up. Although spending is slightly down, rising prices are masking it. Additionally, on the real estate development side, supply chain issues persist. This administration tried to bring manufacturing back to the US, which requires rebuilding infrastructure and addressing concerns about job stability. Addressing these psychological and infrastructure challenges will take time but is feasible.

 

Looking globally, India shows significant growth potential, but there's pressure to create more opportunities for people and create better jobs. Europe faces demographic challenges with declining native populations and integration issues with immigrants, which could impede progress for the next decade or so. Latin America, Africa, and Southeast Asia are poised for growth, while China grapples with population decline and migration issues. The US needs to address its migration policy to facilitate safe and easier entry for immigrants. Local politics may delay progress, but these issues must be tackled head-on.

 

Do you see WTCA also adopting a WeWork kind of model sometime?

 

The WeWork situation is something worth considering in certain regions of the world. For instance, in the United States, there has been a significant downturn in WeWork's fortunes. Upon closer examination, it appears that the company, along with another major player in the market, was cautious about not committing to leases, which led to complications when they couldn't fulfil their lease obligations during the slowdown. This was more of a legal and financial issue than a lack of demand for such shared workspace concepts. In parts of India, however, I believe the WeWork model could potentially thrive and even expand. I think it could work well in North Africa.

 

 

What strategies are being employed to identify and connect Indian businesses with those from other member countries within the Global Development Forum?

 

Essentially, with the Global Development Forum (GDF), our focus is primarily on the business aspect. We're identifying Indian businesses early on and endeavouring to connect them with businesses from our other member countries for potential meetings. Coordinating these meetings involves understanding the interests and preferences of participants. This matchmaking process is a crucial component of our meetings and will increasingly shape how we conduct them in the future. Our team in Bengaluru is doing an excellent job of collaborating with chambers and other organisations to identify Indian companies. Similarly, we aim to replicate this effort in other regions to ensure a diverse representation of companies at our events. This aspect of the GDF is pivotal and warrants attention, as it will play a significant role in our future endeavours.

Highlights of 2022-23 (Final Estimates)      

 

The horticulture production in the country in 2022-23 (Final Estimates) is estimated to be about 355.48 Million Tonnes, an increase of about 8.30 Million Tonnes (2.39%) over 2021-22. An increase in area of 1.41% or 0.40 Million Ha is observed in 2022-23 (Final Estimates) over 2021-22.

The Fruit production is estimated to be 110.21 Million Tonnes in 2022-23 (Final Estimates), mainly due to increases in production of Apple, Banana, Grapes, Mango and Watermelon.

Production of vegetables has increased from 209.14 Million Tonnes in 2021-22 to 212.55 Million Tonnes in 2022-23 (Final Estimates). This is mainly contributed by increase registered in all vegetables except Chillies (Green), Onion, Radish, Tapioca and Tomato.

Onion: Production in 2022-23 (Final Estimates) is estimated to be 302.08 Lakh Tonne compared to 316.87 Lakh Tonne in 2021-22.

Potato: Production in 2022-23 (Final Estimates) is estimated to be around 601.42 Lakh Tonne, compared to 561.76 Lakh Tonne estimated for 2021-22.

Tomato: Production in 2022-23 (Final Estimates) is estimated to be around 204.25 Lakh Tonne, compared to 206.94 Lakh Tonne estimated for 2021-22.

Highlights of 2023-24 (First Advance Estimates)      

 

The horticulture production in the country in 2023-24 (First Advance Estimates) is estimated to be about 355.25 Million Tonnes. An increase in area of 1.15% or 3.27 Lakh Ha is observed in 2023-24 (First Advance Estimates) over 2022-23 (Final Estimates)

The production of Fruits expected to reach 112.08 Million Tonnes, mainly due to increases in production of Banana, Mandarin and Mango.

Production of Vegetables is envisaged to be around 209.39 Million Tonnes. Increase is expected in production of Cabbage, Cauliflower, Pumpkin, Tapioca, Tomato and Other Vegetables.

Tomato: Production of Tomato is expected to be around 208.19 Lakh Tonne compared to around 204.25 Lakh Tonne last year, an increase by 1.93% Lakh Tonne.

Onion: Production of Onion in 2023-24 (First Advance Estimates)  is expected to be around 254.73 Lakh Tonne compared to around 302.08 Lakh Tonne last year due to decrease of 34.31Lakh Tonne in Maharashtra, 9.95 Lakh Tonne in Karnataka, 3.54 Lakh Tonne in Andhra Pradesh and  3.12 Lakh Tonne in Rajasthan.

Potato: Production of Potato in 2023-24 (First Advance Estimates) is expected to be around 589.94 Lakh Tonne compared to around 601.42 Lakh Tonne last year, attributed to decrease in West Bengal over the previous year.

The government on Wednesday permitted exports of 4,750 tonnes of onion to Bhutan, Bahrain, and Mauritius through the National Cooperative Exports Ltd (NCEL).

The Directorate General of Foreign Trade (DGFT) in a notification said that while export of 550 tonnes of onion is permitted to Bhutan; 3,000 tonnes to Bahrain, and 1,200 tonnes to Mauritius.

 

'Exports of onions' to these three countries 'through NCEL is notified,' it said.

Last week, India allowed exports of 64,400 tonnes of onion to the UAE and Bangladesh.

DGFT is an arm of the commerce ministry, which deals with norms related to imports and exports.

Though onion exports are banned, shipments are allowed on the basis of permission granted by the government to other countries based on their request.

On December 8 last year, the government banned exports of onion till March 31 this year with a view to increase domestic availability and to keep prices in check.

To control prices, the government has earlier taken several steps. It had imposed a minimum export price (MEP) of USD 800 per tonne on onion exports on October 28 till December 31, 2023.

In August, India had imposed a 40 per cent export duty on onions up to December 31, 2023.

Between April 1, 2023, and August 4, 2023, this fiscal, 9.75 lakh tonnes of onions have been exported from the country. The top three importing countries in value terms are Bangladesh, Malaysia and the UAE.

Onion is a politically sensitive commodity.

NCEL is a multi-state cooperative society. It is jointly promoted by some of the leading cooperative societies in the country, namely, Gujarat Cooperative Milk Marketing Federation (GCMMF), popularly known as AMUL; Indian Farmers Fertilizer Cooperative Ltd (IFFCO); Krishak Bharati Cooperative Ltd (KRIBHCO); and National Agricultural Cooperative Marketing Federation of India Ltd (NAFED).

ICAR-Indian Institute of Horticulture  Research has developed a variety of chilli, Arka Nihira, which is highly suitable for processing and also can resist the deadly chilli curl leaf disease and Phytophthora root rot.

 

Even as chilli is a good source of vitamin C, besides, its pungent and medicinal uses, it is vulnerable to various fungal, bacterial and viral diseases which hamper its production and productivity.

 

The country is the largest producer and consumer of chillies. Andhra Pradesh is the leading producer of spices in the world with around 36% share in global chilli production. In India, the state is the largest producer of chilli with a 57% share in total production. It also  accounts for exports of dry chillies globally, which is contributing to the total exports of spices. This generates a foreign exchange earning of a whopping  Rs 8,429.92 crore as per the Spice Board data. Also, other leading chilli-growing districts in India are in Tamil Nadu, Karnataka and Maharashtra covering  Dharwad, Nagpur, Prakasam, Khammam, Guntur and Warangal.

 

Chilli is considered as an indispensable condiment consumed in Indian diet because of its nutritional properties. It has to be processed to increase the storage life, because it is highly perishable. Value-added products made of chilli like dehydrated chilli, powder, paste, pickle and sauce obtain higher returns. Real return in chilli comes only from processed products. This provides consumers with an incentive to make purchase. This is where the National Institute of Food Technology, Entrepreneurship and Management under the Ministry of Food Processing Industries encourages chilli processed products.

 

Going by the unpredictable climate conditions, deadly chilli curl leaf disease and Phytophthora rot affect the crop and are seen to be serious threats.

 

According to Dr Madhavi Reddy, Principal Scientist, Division of Vegetable Crops, ICAR-IIHR, the salient features of Arka Nihira are that it is suitable for dual thick market segment. It has high yield with length. Its ark green turns into red on maturity. 

 

Phytophthora rot is caused by Phytophthora capsici Leonian, which is a fungal soil-borne destructive pathogen that results in root rot. It is estimated to cause around US$100 million in global losses. Also whiteflies and transmitting begomo viruses have also seen to be devastating in chilli cultivation. Now, going by the way such diseases affect chilli plant loss, farmers have refrained from cultivating this crop.

The India-United States trade is likely to surpass the previous record of $200 billion this year and huge opportunities exist for the two countries to expand cooperation in defence, space besides critical emerging technologies like semiconductors and artificial intelligence, said American Ambassador Eric Garcetti on Thursday.

The US is proud to be India's No. 1 trading partner with two-way trade reaching nearly $200 billion last year, Garcetti told reporters in Indore. 'I think this year we will break the (previous) record of $200 billion in bilateral trade (between India and the US),' he said.

The envoy asserted that US President Joe Biden in the past had emphasized that trade between India and America should rise to the level of $500 billion given the potential for expansion.

Efforts are on achieve this goal, said the Ambassador who took charge of his new diplomatic assignment last year. Garcetti said huge opportunities exist to further grow Indo-US trade, and for bilateral cooperation in areas such as defence, agriculture, space, climate, energy and health, as well as critical emerging technologies like semiconductors, telecommunications, AI and quantum computing.

He noted transport-related technologies, especially electric vehicles, could be perhaps the biggest area of growth in bilateral trade. 'We would like to see India manufacturing electric vehicles in greater numbers. India can export these vehicles to the US,' Garcetti said.

Meanwhile, on the eve of International Women's Day, the US Ambassador met Indore Mayor Pushyamitra Bhargava and enquired about 'pink buses' run by female drivers for women commuters in the city.

He interacted with women drivers of these electric buses and listened to their experiences in the profession.

The US ambassador said women drivers of the 'pink buses' inspire everyone. 'No country or city in the world can succeed if women don't feel safe and empowered,' Garcetti maintained.

On February 28, 2024, India successfully flagged off its first commercial trial shipment of pomegranates to US via sea under the aegis of Agricultural Processed Food Products Export Development Authority (APEDA) by InI Farms from IFC facility, MSAMB, Vashi (Navi Mumbai). Rajesh Aggarwal, additional secretary, Ministry of Commerce & Industry and Abhishek Dev, chairman, APEDA flagged off the pomegranate shipment comprising of 4200 boxes (12.6 tons).

 

The ceremony was graced by dignitaries from the Maharashtra State Agricultural Marketing Board (MSAMB), Regional Plant Quarantine Station (RPQS- MoA&FW), State Agriculture Department (Government of Maharashtra), NRC Pomegranate, US Consulate and InI Farms.

 

Last year APEDA successfully carried out an air shipment of Pomegranates with irradiation treatmentand static trial in association with ICAR-NRC Pomegranate Solapur as technical partner. Based on the successful result of the static trial, APEDA aimed for a successful sign off for this consignment via sea opening trade relations to potential markets for Indian Pomegranates. India, one of the largest Producers of Pomegranates in the World and is also now aiming to be amongst the top Pomegranate exporting countries in the World. India is a key player growing in the EU, Middle East and Asian Markets.