The next round of talks for the proposed free trade agreement (FTA) between India and Oman will start from January 16 and the negotiations for the pact are progressing well, a senior official said on Tuesday. The talks on the text of most of the chapters have been concluded by both sides for the pact, officially dubbed the Comprehensive Economic Partnership Agreement (CEPA).

 

'The negotiations are progressing well. Two rounds of in-person negotiations and many inter-sessional meetings have already been held. Good progress has been made on all the chapters covered under the CEPA,' the official said.

 

On certain media reports that the talks may get delayed, the official said that any talk of hindrances or bottlenecks is 'speculative and presumptuous' as the negotiating process is currently underway.

 

Currently, both sides are working towards conclusion of the negotiations with an objective of delivering a mutually beneficial agreement contributing to the welfare and development of the people of the two countries, the official, who does not wish to be named, said.

 

For India, Oman is the third largest export destination among the Gulf Cooperation Council (GCC) countries.

 

The bilateral trade was USD 12.39 billion in 2022-23 as against USD 5 billion in 2018-19. India's exports have increased from USD 2.25 billion in 2018-19 to USD 4.48 billion in 2022-23.

 

According to a report of think tank GTRI (Global Trade Research Institute), Indian goods worth USD 3.7 billion such as gasoline, iron and steel, electronics, and machinery will get a significant boost in Oman, once both sides reach a comprehensive free trade agreement.

 

India's imports from Oman stood at about USD 8 billion in 2022-23. Key products included petroleum products (USD 4.6 billion), urea (USD 1.2 billion); propylene and ethylene polymers (USD 383 million).

 

Currently, over 80 per cent of India's goods enter Oman at an average of 5 per cent import duties, the GTRI report has said, adding Oman's import duty ranges from 0 to 100 per cent along with the existence of specific duties.

 

In a CEPA, two countries could significantly reduce or eliminate customs duties on the maximum number of goods traded between them besides easing norms for promoting trade in services and increasing investments.

 

The report has said that Oman's higher per capita income (USD 25,060) compared to India's (USD 2,370) could mean a demand for more diversified and possibly higher-value goods and services in Oman, which India could aim to supply.

 

The agreement also holds considerable strategic importance for India. It serves as a gateway for India to strengthen its footprint in Middle Eastern economies. This partnership with Oman can act as a catalyst, enhancing India's geopolitical presence and fostering deeper ties with other Middle Eastern countries.

 

Commenting on the proposed pact, international trade expert and Hi-Tech Gears Chairman Deep Kapuria said this agreement would also help in boosting trade ties of India with the Middle East countries, which is a growing market for domestic products.

 

The agreement holds importance in view of India's USD 1 trillion exports target of merchandise products by 2030, Kapuria said.

 

'The UK and India will continue to negotiate towards a comprehensive and ambitious FTA. The 14th round of negotiations will take place here from Wednesday,' the official said.

 

These negotiations would focus on complex issues in the areas of goods, services, and investment.

 

Issues that are pending include duty cuts on electric vehicles, whiskey, and the movement of professionals.

 

Talks are also progressing on the proposed Bilateral Investment Treaty (BIT).

 

India and the UK launched the talks for an FTA in January 2022 with a view to boost economic ties between the two nations.

 

There are 26 chapters in the agreement, which include goods, services, investments and intellectual property rights.

 

The Indian industry is demanding greater access for its skilled professionals from sectors like IT, and healthcare in the UK market, besides market access for several goods at zero customs duties.

 

The bilateral trade between India and the UK increased to USD 20.36 billion in 2022-23 from USD 17.5 billion in 2021-22.

A GI tag is a name or sign that certifies that a product has specific properties that make it different from others. To get a GI tag on any product, an association or organisation making the products can apply

 

A GI tag is a name or sign that certifies that a product has specific properties that make it different from others.

 

A devotee, Manish Singh, expressed his happiness over the Hanumangarhi ‘ladoo’ being registered for the GI tag.

 

'I have been coming to the Hanumangarhi temple for 10 years every Tuesday. Today, I came to know that the Hanumangarhi ‘ladoos’ have been registered for the GI tag. It is a matter of great pride for all of us.'

 

The ‘ladoo’ makers thanked the government for the initiative. 'It is a matter of great joy for not only the residents of Ayodhya, but also for Modak Samaj. I want to thank the government for this great initiative.' 'The ‘ladoos’ have been famous for ages. People buy and take these to distant places with them,' a ‘ladoo’ maker said.

 

The world-famous temple of Bajrangbali Hanumangarhi is situated in Ayodhya. Lord Hanuman is considered the Kotwal of Ayodhya. It is said no one can have the darshan of Lord Ram without his permission.

India's coffee exports are likely to rise as much as 10% in 2024 as a rally in global prices prompts European buyers to pay premiums in order to increase purchases from the country, industry officials told Reuters.

 

The South Asian country - famous as a tea producer - is also the world's eighth-largest coffee grower, mainly churning out the robusta beans used to make instant coffee. It also produces some of the more expensive arabica variety.

 

'The demand for Indian coffee, particularly robusta beans, is strong due to firm global prices resulting from production issues,' said Ramesh Rajah, president of the Coffee Exporters' Association of India, predicting a rise in exports this year of up to 10%.

 

Robusta coffee is trading near its highest in at least 15 years as Vietnam, the world's biggest producer, is expected to produce less in 2023/24 than the previous season.

 

India exports three quarters of its production mainly to Italy, Germany and Belgium.

 

Indian coffee typically commands a premium over the global benchmark because it is grown under shade, hand-picked, and sun-dried. However, this year, premiums are higher than normal due to a production shortfall, exporters said.

 

Coffee exports in 2024 could jump to 298,000 metric tons from last year's 271,420 tons, said a Bengaluru-based dealer with a global trade house.

 

Indian robusta cherry is fetching a premium of nearly $300 a tonne over London futures because of strong demand, he said.

 

Weather woes

While export demand is good, traders are waiting for supplies to increase, which could bring down local prices, the dealer said.

 

This season's robusta harvest is almost 20% complete, although rainfall in recent days in growing areas has been disruptive, said M M Chengappa, a coffee grower from Kodagu, in top producing Karnataka state.

 

The state-run Coffee Board has estimated that India's production could rise to 374,200 tons in the 2023/24 season, which started on Oct. 1, up from last year's 352,000 tons. However, farmers are saying that rainfall is limiting the upside in production.

 

'Torrential unseasonal rain in the last few days, along with the rains in December, has caused a lot of fruit droppings,' said Chengappa.

 

Harvesting is also slowed by labour scarcity, despite offers of higher wages, said exporter Rajah.

 

'Global prices are rising, but Indian farmers' income is not rising in the same proportion due to higher production costs. They need to spend more on inputs and wages,' Rajah said.

The Ministry of Food Processing Industries (MoFPI) has decided to include the Integrity Pact (IP) as per CVC (Central Vigilance Commission) guidelines in the bids announced by the ministry for various schemes.

 

'The Pre-bid and Post-Contract Integrity Pact is a tool to help governments, businesses and civil society to fight corruption in public contracting. It binds both procuring entities and sellers to ethical conduct and transparency in all activities from pre-selection of bidders, bidding and contracting, implementation, completion and operation related to the contract,' reads a statement issued by the ministry adding that this removes insecurity of bidders, that while they themselves may abjure bribery, but their competitors may resort to it and win contract by unfair means.

 

The IP will be the part of the text of bid so floated for tendering Request For Proposals.

 

According to the ministry, the pact essentially envisages an agreement between the prospective contractors/bidders and the Procuring Entity, committing the persons/ officials of both sides, not to resort to any corrupt practices in any aspect/stage of the contract.

 

And only those contractors/bidders, who commit themselves to such a Pact with the Procuring Entity would be considered competent to participate in the bidding process meaning entering into this Pact would be preliminary qualification.

 

Also, the Integrity Pact envisages engagement of Independent External Monitors (IEMs) by the Government Organisations to monitor the smooth implementation of Pact.

 

MoFPI has appointed 3 such Monitors, who will act as Independent External Monitors.

The Uttar Pradesh (UP) government is tapping Russia and the Gulf markets to export horticultural crops in a bid to boost the rural economy and provide remunerative prices to the state’s farmers.

The government has exported a consignment of guava to Oman even as more bulk orders are expected.

 

Earlier, a shipment of mangoes was sent to Russia, which fetched the local farmers almost 10 times higher prices than local rates.

'The exported mango fetched Rs 800 per kg price in Russia compared to an average price of Rs 80 per kg in the local markets,' said Dinesh Pratap Singh, minister of state (independent charge) Horticulture Agriculture Marketing Agriculture Foreign Trade and Agriculture Export Department.

 

In 2021-22, the state had exported 160,000 tonnes of vegetables to Gulf countries through air routes.

Singh said the government was taking multiple steps to double the farmers’ income and facilitate farm exports.

'Several crops grown in UP are gaining traction in the export market and contributing to the government’s agenda of boosting farm income,' he said.

The state is also looking to expand the export market spectrum to European countries. It is also setting up modern packhouses to catalyse farm exports.

The government is motivating farmers to cultivate crops which have a higher export potential. It is promising assistance related to farmers’ training, subsidy and marketing support.

UP is among the top agricultural and horticultural producers in India with leadership positions in a variety of crops including sugarcane and potato.

Higher farm shipments will give a fillip to the agrarian economy of the state and accelerate socio-economic growth by promoting ‘agri-prenuers’ and food processing.

Meanwhile, UP has clocked 3.5 million tonnes (MT) in paddy procurement in the current kharif marketing season 2023-24.

It is targeting 7 million tonnes in direct paddy procurement from farmers. So far, about 525,000 paddy farmers have been paid about Rs 6,800 crore.

Moreover, about 360,000 tonnes of millets or ‘Shri Anna’ have been procured and farmers are paid Rs 838 crore. Millet crops include maize, bajra and jowar. The state is targeting to achieve a millet acreage of 2.5 million hectares.

 

At present, millet crop area and production in UP is estimated at 1.1 million hectares and 5 million tonnes respectively, which corresponds to 20 per cent of India’s annual output. Major millets in UP include jowar, bajra, kodo, ragi, kottu and sanwa.

The Agricultural and Processed Food Products Export Development Authority (APEDA), under the Ministry of Commerce and Trade, has granted the first 'Geographical Indication'(GI) tag in Jammu & Kashmir for Basmati Rice. The GI tag has been granted to Sarveshwar Foods Limited, which has become the first and only company based in the region to have the GI tag for basmati rice for export purposes.

 

'GI tag awarded by the APEDA (Ministry of Commerce & Industry, Govt. of India) after thorough verification of records, quality of the product, their properties, origin, and procurement, processing procedure adopted by Sarveshwar Foods for its Basmati Rice, and henceforth entitles the company to affix GI Tag on its packaging for export,' the company said in a release.

 

A GI is primarily an agricultural, natural or manufactured product (handicraft and industrial goods) originating from a particular geographical territory.

 

A product with the coveted geographical indication (GI) is recognised as a genuine and authentic product by the consumers. This will enable the company to penetrate deeper into the international markets and extend its product franchise across the globe.

 

'It is an honour for the entire team that Sarveshwar Foods Limited has become the first and the only Company from Jammu & Kashmir to obtain Geographical Indication'( GI) from APEDA ( Ministry of Commerce & Industry, Govt. of India) for Basmati Rice,' said Rohit Gupta, chairman of the company.

 

Sarveshwar Foods Limited (SFL) is a USFDA (United States Food and Drug Administration) certified company. It is engaged in the business of manufacturing, trading, processing, and marketing of branded and un-branded basmati and non-basmati rice in the domestic and international markets.

Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Shri Piyush Goyal inaugurated the ‘Indus Food 2024’, exhibition to showcase India's vibrant and diverse food ecosystem, being held in India Exposition Mart, Greater Noida. While delivering an inspiring address at the inauguration of the exhibition, the Minister praised India's diverse food industry, emphasizing its potential to captivate global markets.

 

Speaking on India's food processing sector, Shri Goyal highlighted the 150% growth in processed food exports over the last nine years. The Minister highlighted that India’s agricultural exports stood at an aggregate of about US$ 53 Billion. Shri Piyush Goyal quoted the Prime Minister, Shri Narendra Modi and said that the time has come for a fusion of technology and taste. He emphasized the need for large-scale food processing, product branding, and export focus to provide better value to farmers, generate employment, and enhance the country's earnings.

 

The Minister recognized the burgeoning demand for Indian foods globally, he underscored the country's diverse agro-climatic zones, 158 food and agri Geographical Indications (GIs), and the identification of 708 unique food items across districts under the One District One Product (ODOP) initiative.

 

He lauded the success of food security initiatives of the government such as the 'Pradhan Mantri Garib Kalyan Anna Yojana', providing free food grains to 81 Crore people and ensuring zero starvation deaths in the country. Additionally, he commended efforts to mitigate food inflation through strategic interventions like ‘Bharat Atta’ and ‘Bharat Dal’.

 

The Minister highlighted India's economic strengths as the fastest-growing large economy, attributing the success to solid macroeconomic foundations and a youthful demographic dividend. He credited social media and global influencers for promoting Indian culinary delights, leading to a surge in the popularity of diverse regional cuisines. Shri Piyush Goyal highlighted the richness of Indian cuisine, noting its distinctive flavors, spices, and aromas.

 

Shri Goyal stressed the vital role of women in the food sector and emphasized the need for industry-wide collaboration and cooperation while maintaining a competitive spirit. He urged the industry to focus on frozen, packaged, and ready-to-eat foods, encouraging skill development, university exchange programs, and startups in the sector. The Minister urged the industry to prioritize quality, nutrition, organic ingredients, and eco-friendly packaging, underscoring the significance of promoting food nutrition and sustainability.

 

Shri Piyush Goyal praised the significant success and outstanding achievements of the seventh edition of Indus Food, hailing it as the epicenter for food and beverage excellence in South Asia. He highlighted the international prominence of the event, revealing plans for India Global Culinary Exchange, welcoming 20 top international chefs to experience the country's culinary excellence firsthand.

 

Expressing confidence in India's capacity to host the world's largest fairs, the Minister emphasized Delhi's potential as a global hub for various expos. He shed light on the ongoing Aatmanirbhar Bharat Utsav at Bharat Mandapam and announced the upcoming Bharat Mobility in the following month, followed by Bharat Tex at the end of February 2024. He shared his vision for these events to lay the groundwork for even larger exhibitions in the coming years. Envisioning 2025 as the year for multi-venue, large-scale shows, he aspired for India to host the world's largest food fair, setting global benchmarks.

Indian exports of processed food grew 150% in the last nine years, said Piyush Goyal, minister for commerce & industry, consumer affairs, food & public distribution and textiles, adding that the country's agricultural exports stood at an aggregate of about $53 billion during this time.

 

Praising India's diverse food industry and the burgeoning demand for Indian foods globally, the minister emphasised on the need for large-scale food processing, product branding and export focus to provide better value to farmers, generate employment and enhance the country's earnings.

 

India has 158 food and agri Geographical Indications (GIs) and the identification of 708 unique food items across districts under the One District One Product (ODOP) initiative, the minister said, while inaugurating the 'Indus Food 2024', an exhibition to showcase India's vibrant and diverse food ecosystem at the India Exposition Mart, Greater Noida. The minister also highlighted India's economic strengths as the fastest-growing large economy, attributing the success to solid macroeconomic foundations and a youthful demographic dividend.

 

 

India's agriculture exports, which stood at over USD 50 billion at present, are expected to double by 2030 and reach USD 100 billion, Commerce Secretary Sunil Barthwal said on Monday. He said that the country is targeting USD 2 trillion worth of exports of goods and services by 2030.

 

'I am very sure that this USD 50 billion exports of India today will see a doubling of our exports by 2030 to almost USD 100 billion,' he said at the IndusFood Show 2024 here.

 

This is the largest food and beverage show in South Asia.

 

The secretary said that areas like the ready-to-eat food segment have huge potential to grow.

 

He also urged the industry to focus on the technical standard requirements of importing countries.

 

Inaugurating the show, Commerce and Industry Minister Piyush Goyal said that this fiscal year, the country's agri exports will be more than last year's level of USD 53 billion, despite restrictions imposed on shipments of certain key commodities, including rice, wheat and sugar.

 

Earlier, an official said that the export ban and restrictions on these commodities may hit exports of about USD 4-5 billion this fiscal.

 

The government has prohibited exports of wheat and non-basmati white rice and has also imposed curbs on sugar exports.

 

Speaking at the event, Trade Promotion Council of India Chairman Mohit Singla said that over 1,200 exhibitors and more than 7,500 buyers from across the world representing about 90 countries are participating in the three-day show.

 

Over 80 retail chains, such as Choithrams, Carrefour, Khimji Ramdas, Grand Hypermarket, Nesto, Mustafa, X5, Lulu, Almaya Group, and Spar, are also participating, he added.