Indian Prime Minister, Narendra Modi, has pledged to Bangladesh's Prime Minister, Sheikh Hasina, to alleviate export restrictions on essential commodities like sugar, onions, rice and wheat.

 

The decision follows a discussion between the two leaders on January 8. Factors such as the Ukraine-Russia and Israel-Hamas conflicts and the depreciation of the taka against the dollar have contributed to rising freight charges and commodity prices. The easing of export restrictions will specifically cover onions and several consumer goods crucial to Bangladesh.

 

Historically, sudden export halts from India, such as the 2019 onion export stoppage, have caused price surges in Bangladesh. Despite requests for advance notice of such bans, India has not complied. To maintain market stability, Bangladesh intends to continue regular imports from India and has requested an annual quota, including significant quantities of rice, wheat, sugar, onions, ginger and garlic.

 

Prime Minister Hasina has instructed ministers to stabilize the consumer goods market in anticipation of Ramadan. The government aims to ensure a regular supply of goods, mitigate potential inflation, and curb market manipulation, while enhancing trade transparency and holding price manipulators accountable.

In a recent development for Assam's agriculture sector, 1,000 kg of lablab beans, known locally as urohi, cultivated by farmers associated with Dihingparia Farmer Producer Company (FPC) in Nitaipukhuri, Sivasagar district, were successfully exported to London. This accomplishment follows a recent consignment where 500 kg of urohi was exported.

 

Expressing his congratulations, Agriculture Minister Atul Bora extended heartfelt wishes to the officials of the Horticulture Department of the Assam Government, concerned authorities of Sivasagar District Agriculture Department, Assam Agribusiness and Rural Transformation Project (APART), and every farmer contributing to the urohi production.

 

Highlighting the positive trend in crop exports, Bora expressed confidence in initiating a new agricultural revolution in Assam's economy. He anticipates further growth in crop exports, paving the way for a flourishing agricultural economy in Assam.

 

The Ministry of Agriculture & Farmers Welfare, Government of India, is leveraging cutting-edge Artificial Intelligence (AI) technologies for the benefit of farmers and to increase overall productivity. As a pioneering force in the integration of AI, the Ministry is setting a precedent for leveraging advanced technologies to address the challenges faced by the farmers in India. It is championing the India Digital Ecosystem Architecture (InDEA) 2.0's network approach, designed by the Ministry of Electronics & IT, Government of India.

 

A significant milestone in this journey is the development of 'Kisan e-Mitra,' an AI-powered chatbot addressing farmers' queries about the PM Kisan Samman Nidhi scheme. This comprehensive solution, available in Hindi, Tamil, Odia, Bangla, and English, is evolving to support other government programs and has been accessed by more than 21 lakh farmers within 2 months.

 

Additionally, the Ministry is developing a National Pest Surveillance System in collaboration with the private sector. AI and Machine Learning (ML) models detect crop issues, offering timely information to farmers for swift action. This initiative is expected to result in healthier crops, potentially boosting yields and improving farmers' livelihoods.

 

On 17th January 2024, a Tripartite Memorandum of Understanding (MoU) was signed between the National Farmers’ Welfare Programme Implementation Society, IndiaAI under Digital India Corporation, and Wadhwani Foundation. The MoU was signed in the presence of Shri Manoj Ahuja, Secretary, Dr. P.K. Meherda, Additional Secretary, Ms. Ruchika Gupta, Advisor(Digital), Shri Samuel Praveen Kumar, Joint Secretary(Extn.), Shri Muktanand Agrawal, Director (Digital), other senior officials from Ministry of Agriculture and Farmers Welfare and Ministry of Electronics & IT and Shri Prakash Kumar, CEO, Wadhwani Institute of Technology and Policy.

 

Shri Manoj Ahuja emphasized AI's game-changing role, citing capabilities in advisories, feedback collection, crop monitoring, yield prediction, pest control, and resource optimization. Shri Prakash Kumar expressed delight in embarking on a groundbreaking journey with the Ministry, sowing the seeds of innovation and knowledge for a more prosperous and food-secure future.

 

Per the MoU, Wadhwani Foundation will provide critical support in formulating and executing an AI strategy. The Foundation commits to assisting the Ministry in establishing India as a global leader in AI-driven digital agriculture transformation, aligning with the MeitY’s National Plan for AI. This collaboration marks a pivotal moment in India's agricultural landscape, where Ministry has institutionalized the use of AI in transforming digital agriculture through the creation of an AI cell within the Ministry.

The Indian government on Tuesday extended lower import duty on edible oil by a year, till March 2025. The lower import duty structure on crude palm oil, crude sunflower oil, and crude soy oil was originally set to expire in March, this year.

 

India is the world's biggest importer of vegetable oil. The basic import duty on refined soyabean oil and sunflower oil was cut to 12.5% from 17.5%, in June last year. India imports palm oil mainly from Indonesia and Malaysia, and a small quantity of crude soft oil, including soybean from Argentina. Sunflower oil is imported from Ukraine and Russia.

 

'The decision was expected as the government is keen to keep prices in check ahead of elections,' Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage told news agency Reuters. 'The notification is not changing the current duty structure. So, there won't be any impact on local prices or import patterns,' Bajoria said.

 

The government also imposed a 50% duty on exports of molasses, a by-product of sugarcane used as raw material for alcohol production, with effect from January 18. A finance ministry notification said molasses resulting from the extraction or refining of sugar will attract a 50% export duty.

 

According to industry data issued on Friday, India's edible oil imports fell 16 per cent on an annual basis in December to 13.07 lakh tonnes as a result of decreased shipments of crude and refined palm oils. According to data from the Solvent Extractors' Association of India (SEA), edible oil imports decreased from 15,55,780 tonnes in December of the previous year to 13,07,686 tonnes.

 

Within the edible oil category, imports of crude palm oil fell to 6,20,020 tonnes from 8,43,849 tonnes, while inbound shipments of RBD Palmolein (Refined Bleached Deodorised) dipped slightly to 2,51,667 tonnes from 2,56,398 tonnes.

Vinay Bhushan Panda, a young scientist from Barakia village of Upada block in Odisha’s Balasore district, is an inspiration for all those youths in the country who are struggling to get employment after completing their studies. Instead of waiting for employment, Vinay chose to be self-reliant by taking up mushroom farming. Today, he employs over 20 people providing them the means for their livelihood.

 

After completing his MSc, MPhil, and PhD in Botany, Vinay spent some time researching and learning the intricacies of mushroom farming. Initially, he started small with Rs 1 lakh from his savings and started button mushroom farming in his backyard. As his business grew, Vijay took a loan of Rs 1 crore under the Odisha Chief Minister’s Krishi Udyog Yojana and started button mushroom farming on a larger scale.

 

Today, Vinay earns around Rs 3-4 lakh every month and is well-known across Balasore as a successful farmer. He says he gave up the idea of searching for a job and decided to take up mushroom farming while he was doing his PhD as he saw great potential in this business. 'I came in contact with some agriculture experts and was inspired to do something on my own rather than seeking a job,' says Vinay.

 

The FSSAI has decided to introduce the provision in FoSCoS for filing of Updated/Revised Annual Returns beyond the deadline of May 31.

 

Presently, FBOs [Manufacturers and Importers] are allowed to revise/update the already filed annual returns only till the last date of submission i.e., by May 31.

 

Now, the food authority has added the provision to update/revise Annual Returns in FoSCoS (Food Safety Compliance System) after May 31 to rectify inadvertent mistakes subject to conditions and fees.

 

According to the order issued by the FSSAI, in this regard, revision of annual returns is allowed maximum of two times and the last submitted annual return will be considered as final.

 

This will be allowed to those FBOs who have filed the returns within the last date i.e., May 31.

 

In this condition, the revised filing fee applicable will be based on the timeline, wherein if revised within three months i.e., by August 31 of following year: One-year licence fee + GST and if revised  beyond three months i.e., September 1 to March 31 of following year — Two-year licence fee + GST.

 

Secondly, FBOs who have filed Annual Returns beyond May 31 of following year with late fee, only one time revised/updated filing of annual returns is allowed till March 31 of the following year, with revised filing fee equal to Two year licence fee + GST.

 

And, thirdly, revised filing of Annual Returns is not allowed for the original annual returns filed beyond March 31 of the following year.

 

'The provision for filing of updated/revised return will come into effect from 06.01.2024 for Annual Returns of FY 2022-23 for which last date of submission of original return was 31st May 2023 [and extended till 30th June 2023 vide order dated 09.06.2023],' the order reads.

 

The district of Nashik has initiated its grape export season to Europe with a shipment of over 1,000 tons. The district's Agriculture Department reports that this initial consignment, consisting of approximately 76 containers of grapes, has been dispatched to the Netherlands and Romania.

 

Kailas Bhosle, vice-president of Maharashtra Rajya Draksha Bagayatdar Sangh (MRDB), anticipates that the export process will accelerate post-January 15. He clarified that the current adverse weather conditions are causing a delay in the grape harvest. However, he expects the harvest and subsequent exports to increase in late January, with February being the peak month for grape exports.

 

During the previous grape season (2022-23), Nashik exported 127,000 tons of grapes, with a significant portion (92,000 tons) going to European nations. Grape exporters predict an export figure of around 120,000 tons for this year. To export grapes, farmers are required to register their vineyards with the state agriculture department. For the 2023-24 grape season, over 28,000 farmers have registered approximately 18,600 hectares of vineyards in Nashik district for grape export.

Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal today chaired the second meeting of the reconstituted Board of Trade held at Bharat Mandapam, New Delhi today. Shri Goyal announced initiation of work on Trade Connect ePlatform, an intermediary platform providing the facility to connect Indian exporters and entrepreneurs with various stakeholders in international trade will commence shortly.

 

The ePlatform is expected to provide facilitation for new and aspiring exporters, information on various regulations to access markets, sectors, export trends, easy access of benefits under Free Trade Agreements, access to sector specific events along with a facility to address trade related queries to officials in Government of India and associated entities to get expert advice. The platform is likely to be ready in 3-4 months’ time period.

 

In his opening remarks, Shri Goyal said that the Board of Trade meeting is an opportunity to deliberate on the key issues including how to leverage the FTAs for our benefit, how to encourage the Startups/MSMEs to go beyond our borders and start exporting, boosting exports also from the services sector which remains a key driver of export growth from the country.

 

Shri Goyal stressed on the need to internationalise the goods and services to help in improving the quality of the products and also to have economies of scale. He further emphasied on making exports a people’s movement with the States, Centre and the Industry, all playing an equal role in accelerating Indian exports.

 

The Minister emphasised on the pro-active role to be played by the States/UTs to achieve higher exports and contribute to the nation building process. He further assured that all the issues raised by the participants will be addressed and the suggestions made by them in the meeting today will be considered by the concerned. While talking of potential in service exports, the Minister emphasised on Education, Tourism and Audio-Visual services as the areas with huge potential.

 

The Board of Trade meeting focused on reviewing the export performance to achieve the $2 trillion export target for year 2030, the priorities identified in the new Foreign Trade Policy (FTP) 2023 and the strategies and measures to be adopted in order to take forward the export growth. The reconstituted Board of Trade provides an opportunity to have regular discussions and consultations with trade and industry and advises the Government on policy measures connected with the Foreign Trade Policy in order to achieve the objectives of boosting India’s trade.

 

It provides a platform to the State governments and UTs for sharing State-oriented perspectives on exports. It also acts as a platform for the Government of India for appraising State and UTs about international developments affecting India’s trade and the role States and UTs can play in promotiong exports. It remains an important mechanism for deliberations on trade related issues with Industry bodies, Associations, Export Promotion Councils, and State/UT governments. The 29 non-official members were also invited for the Board of Trade meeting.

 

During the Board of Trade meeting, presentations were made on a variety of subjects such as India’s Import/ Export Performance and State export performance, PM Gati Shakti National Master Plan Multimodal Connectivity, Leveraging FTAs for boosting export growth, discussion on foreign trade vision, trade facilitation measures undertaken by customs, Convergence and expansion of Government e-Marketplace, reforms in Indian patent system, Intervention to boost Pharma exports etc.

 

Ministers from the States made interventions in the meeting, giving their State-specific suggestions, and also expressed their commitment to creating a favorable ecosystem in promoting the external trade.

 

The meeting saw the participation of Minister of State for Commerce and Industry, Ms. Anupriya Patel, Commerce Secretary, Shri Sunil Barthwal, Special Secretary, Logistics Smt. Sumita Dawra, Director General of Foreign Trade, Shri Santosh Sarangi and other senior officials and members of Indian Industry.

 

The meeting was attended by various State Ministers and other senior officials of key line ministries and States, all major trade and industry bodies, Export Promotion Councils and industry associations.

Union commerce minister Piyush Goyal on Tuesday said the government will launch an ePlatform ‘Trade Connect’ for Indian exporters to connect with various stakeholders in international trade by May this year, which will be one of the facilitators in achieving the $2 trillion export target by 2030.

 

Goyal announced initiation of work on the Trade Connect ePlatform, an intermediary platform, during the second meeting of the reconstituted Board of Trade (BOT) held at the Bharat Mandapam in New Delhi.

 

BOT, constituted by merging the Council for Trade Development and Promotion with it, advises the government on policy measures connected with trade. Its first meeting was held on September 13, 2022.

 

The ePlatform is expected to provide facilitation for new and aspiring exporters, information on various regulations to access markets, sectors, export trends, easy access of benefits under Free Trade Agreements (FTAs), access to sector specific events along with a facility to address trade related queries to government officials and associated entities to get expert advice. The platform is likely to be ready in three-four months’ time period, he said.

 

BOT meeting is an opportunity to deliberate on the key issues including how to leverage the FTAs for our benefit, how to encourage the startups and micro, small and medium enterprises (MSMEs) to go beyond our borders, boosting exports also from the services sector, which remains a key driver of export growth from the country, he said.

 

He stressed on the need to internationalise the goods and services to help in improving the quality of the products and also to have economies of scale. The minister sought states to be pro-active to achieve higher exports and contribute to the nation building process. According to him, education, tourism and audio-visual services as the areas with huge potential.

 

BOT meeting focused on reviewing the export performance to achieve the $2 trillion export target for year 2030, the priorities identified in the new Foreign Trade Policy (FTP) 2023, and the strategies and measures to be adopted in order to take forward the export growth, the commerce ministry said in a statement. It is an important mechanism for deliberations on trade related issues with industry bodies, associations, Export Promotion Councils (EPCs), state and union territories, besides 29 non-official members are also invited in the meeting, it said.

 

The meeting was also attended by minister of state for commerce Anupriya Patel, commerce secretary Sunil Barthwal, Director General of Foreign Trade Santosh Sarangi, other senior officials and members of the industry.

India will retaliate strongly against any Non-Tariff Barriers against its exports and for that industry has been asked to bring the instances where they have faced barriers to trade to the notice of the government, Commerce and Industry Minister Piyush Goyal said Tuesday.

 

'I have told them (other countries) very categorically that if you put one non-tariff barrier we will put two. It is reciprocal,' the minister said in his closing remarks at the second meeting of the reconstituted Board of Trade.

 

He asked the industry including small and medium enterprises to convey to the government any non-tariff barriers they face so that India’s negotiating position improves. 'Today I am not able to negotiate with foreign countries because we do not have the data for their non-tariff barriers,' Goyal added.

 

The non-tariff barriers are one of the barriers erected by countries to check imports despite agreeing to lower tariffs as part of their World Trade Organisation or free trade agreement commitments. These companies in the form of quality, environment and social standards imposed on sellers.

 

These non-tariff barriers are one of the reasons for Indian exporters not being able to fully utilise the benefits of lower duties that have come with various free trade agreements that India has signed.

 

Data suggests India’s FTA partners have gained more from the trade openings that have happened. 'Trade deficit increase has been at double the rate for FTA countries,' co-founder of Global Trade Research Initiative Ajay Srivastava had said in a report.

 

In the period between 2017 and 2022, India’s exports to its FTA partners increased by 31% while its imports increased by 82 per cent, according to the report. India’s FTA utilisation remains very low at around 25%, while utilisation for developed countries typically sits between 70–80%.

 

At the meeting Goyal asked the industry to take the issue of FTA utilisation very seriously particularly when so many FTAs are under discussions. India currently has 13 FTAs which include developed economies of Japan, South Korea and United Arab Emirates. With the growth economies of Association of SouthEast Asian Nations too there is a trade agreement. India is currently negotiating FTAs with the UK, European Union, Oman, Chile and European Union Free Trade Association that includes the economy of Switzerland.

 

The minister also announced that initiation of work on Trade Connect ePlatform, an intermediary platform providing the facility to connect Indian exporters and entrepreneurs with various stakeholders in international trade, will commence shortly.

 

The platform will be ready in next 3-4 months and will provide facilitation for new and aspiring exporters, information on various regulations to access markets, sectors, export trends, easy access of benefits under FTAs, access to sector specific events along with a facility to address trade related queries to officials in Government of India and associated entities to get expert advice.