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02 Jan, 2023 News Image International Year of Millets (IYM) 2023 kick starts with Focussed Activities being undertaken by Central Ministries, State Governments and Indian Embassies.
Spearheaded by the Prime Minister, the Government of India sponsored the proposal for International Year of Millets (IYM) 2023 which was accepted by the United Nations General Assembly (UNGA). The declaration has been instrumental for the Government of India to be at the forefront in celebrating the IYM. The PM of India, Shri Narendra Modi has also shared his vision to make IYM 2023 a ‘People’s Movement’ alongside positioning India as the ‘Global Hub for Millets’.
 
‘Millets’ were among the first crops to be domesticated in India with several evidence of its consumption during the Indus valley civilization. Being grown in more than 130 countries at present, Millets are considered traditional food for more than half a billion people across Asia and Africa. In India, millets are primarily a kharif crop, requiring less water and agricultural inputs than other similar staples. Millets are important by the virtue of its mammoth potential to generate livelihoods, increase farmers’ income and ensure food & nutritional security all over the world.
 
Recognising the enormous potential of Millets, which also aligns with several UN Sustainable Development Goals (SDGs), the Government of India (GoI) has prioritized Millets. In April 2018, Millets were rebranded as “Nutri Cereals”, followed by the year 2018 being declared as the National Year of Millets, aiming at larger promotion and demand generation. The global millets market is projected to register a CAGR of 4.5% during the forecast period between 2021-2026.
 
On 6th December 2022, the Food and Agriculture Organization (FAO) of the United Nations, organized an opening ceremony for the International Year of Millets – 2023 at Rome, Italy. The event was attended by a delegation of senior government officials from India. Next in the series, prior to the year-long celebration of ‘International Year of Millets (IYM) 2023’, the Department of Agriculture & Farmers Welfare hosted a special ‘Millet Luncheon’ for the Members of the Parliament at the Parliament house.
 
The Department of Agriculture & Farmers Welfare has taken a proactive multi-stakeholder engagement approach (engaging all the central government ministries, states/UTs, farmers, start-ups, exporters, retail businesses, hotels, Indian Embassies etc.) to achieve the aim of IYM 2023 and taking Indian millets globally. Ministries, states and Indian embassies have been allocated focussed months in 2023 to carry out various activities for promotion of IYM and increase awareness about benefits of millets for the Consumer, Cultivator and Climate.
 
Among central ministries, the activities related to IYM for the month of January 2023 will be kick started by the Ministry of Sports and Youth Affairs, Government of India. The ministry has planned 15 activities over 15 days in January which include engaging sports persons, nutritionists and fitness experts through video messages, conducting webinars on millets with leading nutritionists, dieticians and elite athletes, promotion amplification through Fit India App, etc. Some of the other ministries which have planned events in January are Ministry of Food Processing Industries which will be organizing Millet Fair-cum-exhibitions in Andhra Pradesh, Bihar and Madhya Pradesh; FSSAI will organize Eat Right Melas in Punjab, Kerala and Tamil Nadu etc.
 
With respect to states, Chhattisgarh, Mizoram and Rajasthan have been allocated the month of January for carrying out specific activities for sensitization and promotion of IYM. The states will be conducting millet centric activities including mahotsavs/ melas and food festivals, training of farmers, awareness campaigns, workshops/ seminars, placement of hoardings and distribution of promotional material at various key locations in the state, etc. Other states that are organizing similar activities in the month of January include Maharashtra, Uttarakhand and Punjab.
 
During January 2023, Agricultural and Processed Food Products Export Development Authority (APEDA) and DA&FW will be participating in the Trade Show in Belgium wherein a multi-stakeholder delegation with representatives from DA&FW, APEDA, start-ups, exporters and Farmer Producer Organizations (FPOs) will showcase the diversity of Indian millets through RTE and RTC millet-based products marketed by Indian companies, B2B, B2G interactions etc.
 
Moreover, Embassies of India across more than 140 countries will be participating in celebration of IYM during 2023 by conducting side events on IYM involving the Indian Diaspora through exhibition, seminars, talks, panel discussions, etc. In January, Embassy of India in Azerbaijan and Embassy of India in Belarus will be conducting activities such as B2B meeting with the participation of local chambers, food bloggers, importers of food items and local restaurants etc. Cooked Millets dish exhibitions/ contests will be organized with the help of Indian diaspora and Millets dishes will be served as part of the Republic Day celebrations. The High Commission of India in Abuja and Consulate General of India in Lagos, as part of promotion of IYM, have planned a Millets Food Festival and a Millets Food preparation competition in January 2023. The Millets Food Festival would be held at the High Commission premises and provide stalls for preparation with invitees including both Nigerian dignitaries and Indian community.
 
Towards this endeavour, through a collaborative approach, the DA&FW urges everyone including the International Organizations, Academia, Hotels, Media, Indian Diaspora, Start-up communities, Civil Society, and all others in the Millets value-chain to come forward and join hands to revive the forgotten glory of ‘Miracle Millets’ through the grand celebration of International Year of Millets - 2023.
 
Millets are also an integral part of the G-20 meetings and delegates will be given a true millet experience through tasting, meeting farmers and interactive sessions with start-ups and FPOs.
 
The spirit of the whole of government approach is truly being seen in the celebration of the International Year of Millets 2023.

 Source:  pib.gov.in
02 Jan, 2023 News Image Global oilseeds output estimated higher despite setback to palm kernel, sunflower.
Global oilseed production estimates have been lowered by at least one million tonnes (mt) on fears of palm kernel, cottonseed, rapeseed and sunflower seed output being affected. However, overall oilseed production during the current season (November 2022-October 2023) is projected to be over six per higher than last season.
 
According to the US Department of Agriculture (USDA), oilseed production will be higher mainly in view of soyabean output being about 10 per cent higher this season at 391.17 mt against 355.61 mt a year ago. 
 
This will result in edible oil production rising by over 4 per cent to 217.55 mt against 208.95 mt a year ago.
 
B35 scheme
'Global edible oil supply this season is likely to be at least 7 mt higher with oilseed production projected to rise sharply by over 30 mt. Even if Indonesia diverts more palm oil for biodiesel by introducing B35 (biodiesel with 35 per cent palm content), there will be ample supply,' said BV Mehta, Executive Director of the Solvent Extractors Association of India. 
 
'Indonesia wants the B35 scheme to be successful and it is trying to balance between the higher biodiesel content and edible oil supply. Jakarta might resort to cutting the domestic market obligation (DMO) for local refiners,' said Pakistan-based edible oil analyst Abdul Hameed.
 
The USDA raised the oilseeds trade volume as it sees a higher export of sunflower seed exports from Ukraine this season. It has projected the trade at 198.27 mt compared with 178.01 mt last season. 
 
The higher availability of sunflower seeds will be another factor to drag soyabean prices, but palm oil might gain as a result.
 
'The price gap between soyabean and palm oil may narrow in the coming delays. Soyabean prices will decrease but palm oil can gain by at least $100 a tonne,' said Hameed. 
 
According to traders, a higher rabi oilseed production in India might be another factor. 'This season, mustard production will be about or over 9.5 mt due to higher acreage and conducive weather,' said Amith Aggarwal, co-founder and CEO of AgriBazaar.  
 
'Indonesia has come up with B35 just to keep palm oil steady. We have to see how this will unfold. Raising the blending by 5 percentage points will not make much of an impact,' Mehta said. 
 
Hameed said Indonesia was lower the DMO and raising the diesel-palm oil blending limit since inventories with Jakarta could be lower. 'The market thinks Indonesia might have 6-7 mt of palm oil stock. But I will not be surprised if it is half of that,' he said. 
 
Though palm oil production is stabilising, it may be slow in the first quarter of 2023. 'Indonesia palm oil exports are expected to slow in the first quarter, though they might meet the festival season demand,' Hameed said. 
 
Price outlook
Mehta said edible oil prices could rule a tad lower in the first quarter and may be slightly higher in the second half. 
 
According to SEA, palm oil prices are currently at least $300 a tonne lower than the average 2021 December rates. On the other hand, prices of soyabean and sunflower oils are lower by less than $100. 
 
This is where, Hameed says, there is some room for palm oil to gain.   
 
'The sunflower oil outlook is bearish and it is now discounted at $80-100 a tonne to soyabean. The market looks bearish since Russia and Ukraine hold last year’s stocks and this year’s crop looks good,' he said. 
 
'Still, India will gain if it buys more palm oil, which is nearly $400 a tonne lower than soyabean and sunflower oils,' the Pakistan analyst said. 

 Source:  thehindubusinessline.com
30 Dec, 2022 News Image Expect to sign at least 2 more FTAs in 2023, says Piyush Goyal
Union Commerce Minister Piyush Goyal on Thursday said he expects at least two more free trade agreements to be signed up in 2023. Negotiations are scheduled with the UK, European Union and Canada, Goyal said at an event here, adding that his ministry does not have the bandwidth to tend to requests by smaller trading partners like New Zealand with which the bilateral trade stands at USD 350 million.
 
'India today works from a position of strength, we negotiate with confidence,' Goyal said, adding that the country will sign at least two such free trade agreements.
 
Speaking at the event to mark the operationalisation of the India-Australia Economic Cooperation and Trade Agreement signed in April this year, Goyal said January itself is filled with meetings between Indian Commerce Ministry officials and their counterparts abroad.
 
After handing over certificates of origin to the first among the Indian goods being sent to Australia after the agreement, Goyal said the FTA will benefit a slew of sectors, including textiles, gems and jewellery and also information technology, which gets aided by the dropping of double taxation.
 
Goyal said he expects Indian IT companies' billing to Australia alone growing to USD 1 billion in the next 5-7 years from USD 200 million at present.
 
 
The Regional Comprehensive Economic Partnership (RCEP), which India walked out of in 2019, would have become a free trade agreement with China in effect, Goyal said, adding that Indian industry was 'petrified' with the earlier UPA government's move to start negotiations on the same.
 
He called the walkout an economically prudent and wise decision.
 
As of now, with the agreement with Australia, India has separately struck trade agreements with 13 of the 15 countries in the RCEP, while only New Zealand and China remain.
 
 
He said on a conservative basis, the ministry expects the bilateral trade between India and Australia to increase to USD 31 billion in five years with the free trade agreement in place.
 
The agreement is a win-win document that has the complementarities as its fundamental building block, Goyal said, adding that India will get access to cheaper raw materials like coal from Australia while the finished Indian goods will have a market there.
 
With the new government in Australia ratifying the agreement, 98 per cent of the Indian exports by value will enter the country sans any duties, Goyal said.
 
 
Meanwhile, when asked about the critique of former chief economic advisor Arvind Subramanian about the tariffs hurting the government's production-linked incentive scheme, the country's inward-looking attitudes on trade and the disservice done to Indian enterprise by the government's urge to create 'national champions' in the industry by promoting specific groupings, Goyal said the former CEA wants India to open up at a go while the government is in favour of adopting a calibrated approach.
 
'We believe that it is important that we calibrate the opening up so that Indian industry gets enough time to mature, develop themselves and be able to compete on fair terms,' Goyal said.

 Source:  m.economictimes.com
30 Dec, 2022 News Image 'India-Australia FTA to help bilateral trade cross $70 billion in next five years'
The free trade agreement (FTA) between India and Australia, which comes into effect from Thursday, will help boost bilateral trade in goods and services to cross USD 70 billion in the next five years, according to economic think tank GTRI. The India-Australia Economic Cooperation and Trade Agreement (ECTA) has come into force from December 29.
 
Global Trade Research Initiative (GTRI) said trade of value USD 23 billion would become duty-free from day one.
 
'This is 93% of merchandise trade of USD 25 billion in 2021-22 between India and Australia. This creates opportunities for more trade in tough times. GTRI estimates suggest that the bilateral trade will cross USD 70 billion in the next five years due to buoyant trade relations and Australia's gradual weaning away from China,' GTRI Co-founder Ajay Srivastava said in a statement.
 
India's goods exports to Australia stood at USD 8.3 billion and imports from the country aggregated to USD 16.75 billion in 2021-22.
 
He said while India's exports are diversified, ranging from agriculture, garments, and railway engines to telecom, 95 per cent of India's imports from Australia are raw materials and mining products needed by industry.
 
This makes the two countries gain from both exports and imports, he added.
 
He also said this agreement will be an antidote for Australia's China troubles.
 
They will negotiate in many new areas like digital trade and government procurement.
 
'India has negotiated ECTA well; it needs to use similar prudence in dealing with new subjects,' Srivastava said.
 
Under the agreement, Australia is allowing duty-free import of all Indian products. Key gainers will be India's labour-intensive exports. Duty on these will decrease from the current four-five per cent to zero.
 
These goods include textiles, apparel, footwear, furniture, sports goods, jewellery, machinery, railway wagons, and medicines.
 
'The onus is now on the Indian industry to translate this advantage into increase in exports,' he said.
 
Coal accounts for three-fourths of Indian imports from Australia. LNG, alumina, and manganese are other vital imports.
 
He added that the Indian power sector will gain from cheaper coal and domestic factories will gain from cheaper minerals and intermediates.
 
Australian wine will gain from reduced-duty access to the Indian market. India charges 150 per cent duty on wines, the highest on any product in India.
 
Under ECTA, Australian wines priced above USD 5 for a 750ml bottle can enter India at reduced duties. This pact also allows limited quantities of Australian almonds, pears, oranges, and mandarins.
 
'No threat to local produce is seen as India already imports these products in large values, India has exercised prudence in opening its market. It did not provide any concession on dairy products, wheat, rice, bajra, apple, sugar, oil cake, etc. to protect the interest of farmers,' he said.
 
Overall, India allows duty-free import of Australian products covered under 40 per cent tariff lines (or product categories) immediately. India will make duty on additional 30 per cent tariff lines zero over a period ranging from 3 to 10 years.
 
In terms of value, 85.3 per cent of Australian goods will enter India duty-free immediately. This figure will rise to 89.7 per cent in 10 years, he said.

 Source:  economictimes.indiatimes.com
30 Dec, 2022 News Image The export of Processed Food Products has increased from US$ 8.56 billion in 2020-21 to US$ 10.42 Billion in 2021-22

The export of Processed Food Products has increased from US$ 8.56 billion in 2020-21 to US$ 10.42 Billion in 2021-22

Achievements of MoFPI

(January to December -2022)

  1. Azadi Ka Amrit Mahotssav
  • ‘Food Processing Week 2.0’ organized by the Ministry of Food Processing Industries, under the ‘Kisan Bhagidari Prathmikta Hamari’ Campaign by the Ministry of Agriculture & Farmers Welfare under the 'Azadi Ka Amrit Mahotsav' umbrella.
  • Virtual Inauguration of 75 Food Processing Projects by Union Minister for Food Processing Industries, Shri Pashupati Kumar Paras.

 

WhatsApp Image 2022-12-29 at 3.17.23 PM.jpeg

 

B. Creation Infrastructure Facilities

  • A total of 112 food processing projects were completed/operationalized covering - Mega Food Park:1, ColdChain:15, Units:71, Agro-Processing Clusters(APC):4, Food Testing Laboratories:20, Backward & Forward Linkage projects:1
  • The 112 completed projects have created additional processing and preservation capacity of agricultural produce of 23.08 lakh MT per annum. 15 cold chain infrastructure projects created additional milk processing and storage capacity of 23.30 lakh liter per day and 9.25 MT/hour of IQF (Instant Quick Freezing) of fruits and vegetables.
  • The 112 completed projects leveraged private investment of Rs. 706.04 crore and generated direct and indirect employment for 25293 persons.

C. Approval of New Infrastructure Facilities

  • A total of 190 food processing projects were sanctioned viz; Agro Processing Clusters:23, Cold Chain:33, Units:120, Food Testing Laboratories:12 and Mega Food Park:2
  1. Aatmanirbhar Bharat Abhiyan
  2. Production Linked Incentive Scheme (PLIS) for the Food Processing Industries

As part of Hon’ble Prime Minister’s announcement of Aatmanirbhar Bharat Abhiyan, the Government, on 31st March, 2021, approved a Central Sector Scheme, namely “Production Linked Incentive Scheme for Food Processing Industry” with an outlay of INR 10,900 crores to be implemented for a period of seven years from 2021-2022 to 2026-27.

The primary objectives of this scheme are to support creation of global food manufacturing champions; support Indian brands of food products in the international markets; increase employment opportunities of off-farm jobs; and ensure remunerative prices of farm produce and higher income to farmers.

Specific food product segments, having high growth potential have been identified for providing support under the scheme. These include ready to cook/ready to eat (RTC/ RTE) foods including millet based products, processed fruits & vegetables, marine products and mozzarella cheese. Support to innovative and organic products of SMEs for these product segments and overseas Branding & Marketing are also covered under the scheme. A component for Millet Based Products has subsequently carved out from the scheme, with an outlay of ?800 Crore, to encourage the use of Millets in RTC/RTE products and incentivising them under the PLI Scheme to promote its value addition and their sale in domestic and export markets.

Under the PLI Scheme for Food Processing Industry, a total of 182 applications have been approved under different categories including 30 applications (8 large entities and 22 SMEs) under the PLI Scheme for Millet Based products.

The implementation of PLI scheme is likely to facilitate expansion of food processing capacity by nearly Rs. 30,000 crore and create additional direct and indirect employment opportunities for about 2.5 lakh persons by the year 2026-27. The investments by the PLI beneficiaries is likely to result in increase in sales and export of food products. A positive stimulus to domestic industry is expected as the scheme stipulates that in order to get incentive, the entire chain of manufacturing processes, including primary processing of the food products shall take place in India. The scheme will also facilitate promotion of Indian brands abroad.

As per the data being reported by the PLIS beneficiaries, investment of about ?4900 Crores has been made under the Scheme. Incentives amounting to ?800 Crores are likely to be disbursed in the current financial year. Sales based incentive of ?107.3 Crores has been disbursed so far.

Stakeholder consultations are also underway for introducing a PLI Scheme for Nutraceutical sector to enable this sector to reach its potential and find its rightful place.

  1. PM Formalisation of Micro Food Processing Enterprises (PMFME)

The Prime Minister- Formalisation of Micro Food Processing Enterprises (PM-FME) scheme, aimed at promoting ‘vocal for local’ in the sector, under the Atmanirbhar Bharat Abhiyan, was launched in June 2020 to support 2 lakh micro food processing units with credit linked subsidy with a total outlay of Rs. 10,000crores over the period 2020-2025.

The Scheme adopts One District One Product (ODOP) approach to reap the benefit of scale in terms of procurement of inputs, availing common services, and marketing of products. These ODOP has been approved for 713 districts of 35 States/ UTs with 137 unique products.

  • Capacity Building & Training
  • 760 training modules (ODOP) developed containing Presentations, Videos, DPR and Course Content/Handbook and are available on the PMFME website - https://www.mofpi.gov.in/pmfme/
  • 486 Master Trainers of 35 States/UTs were trained.
  • Training of 931 District Level Trainers for EDP and Food Processing concluded in 26 States/UTs and ongoing in other States
  • 10910 Beneficiaries trained in 26 States/ UTs.
  • 972 DRPs were trained on EDP & ODOP in 32 State/UTs.
  • Seed Capital
  • SHG members engaged in food processing activities are being identified with help of DAY-NRLM under Ministry of Rural Development and DAY-NULM under Ministry of Housing and Urban Affairs.
  • Seed Capital amount of Rs. 252.53 Cr. has been released to SRLM for 79,693 SHG members
  • Seed Capital amount of Rs. 56.06 Cr. released to SULM for 16,159 members.
  • Branding and Marketing:
  • 12 brands have been launched to promote various ODOPs under the Branding & Marketing component of the scheme. These include Dilli Bakes (Bakery), Makhana King (Foxnuts), Kashmiri Mantra (Spices),Amrit Phal (Aamla), Madhu Mantra (Honey), Somdana (Millets), Cori Gold (Coriander), Madhurmithas (Jaggery), Pind Se (Pickle), Madhurmithas (Pineapple Candy), Aasnaa (Murabba, Jaggery) and Bhimthadi ( Millets).
  • Branding and Marketing proposal for phase 2 from NAFED amounting to Rs.19.75 Cr approved by the Inter-Ministerial Empowered Committee (IMEC)
  • 4 State level for Branding & Marketing, two from the State of Karnataka under the brand names “Seemi” and “Bhima” and two from the State of Andhra Pradesh under the brand names “Madugula Halwa” and “Aamodam” approved by the Inter-Ministerial Empowered Committee (IMEC).

  • Incubation Centre:

76 proposals with an Outlay of Rs. 205.95 Crore have been approved which are mainly State Agriculture University, ICAR-KVKs, etc.

  • Credit Linked Subsidy:
  • 58,354 individual applications received out of which 13,638 loans were sanctioned of Rs. 1305.74 crores by Banks. Rs. 129.76 Cr. of Centre share of Credit linked grant has been released to 5210 individual beneficiaries.
  • State Level Upgradation Plan (SLUP)
  • 35 States/ UTs have appointed agencies for conducting studies for State Level Up-gradation Plan (SLUP).
  • SLUPs of Bihar, Dadra Nagar Haveli & Daman and Diu, Delhi, Himachal Pradesh, Karnataka, Maharashtra, Telangana, Tripura and Uttar Pradesh finalized.
  • PM-FME Scheme related Promotional Activities
  • 24 editions of the PMFME e-newsletter have been successfully published and reached more than 7 lakh stakeholders.
  • 51 ODOP Webinars/Offline Workshops are being conducted by States/UTs and NIFTEM/IIFPT
  • 69 success stories of the beneficiaries of the PMFME Scheme published since March 2021 till date via the MoFPI Website and MoFPI and PMFME social media handles.
  • Scheme-related posts regularly published on PMFME social media handles which include Facebook, Twitter, Youtube, and WhatsApp. Special focus on user engagement on social media through contests/quiz in collaboration with MyGov.
  • Convergence
  • A Joint SoP has been signed with Ministry of Agriculture for the convergence with “Agriculture Infrastructure Scheme” to provide the benefit of Interest Subvention to PMFME Beneficiaries.

E.     Operation Green scheme

  • Ministry has been implementing a Central Sector Scheme- “Operation Greens” under Pradhan Mantri Kisan SAMPADA Yojana since November, 2018. The scheme has two components namely short term interventions and Long Term Interventions i.e. Value Chain Development Projects.

  • In pursuance of budget announcement 2021-22, the scope of long term interventions i.e. value chain development under this scheme has been expanded from TOP crops to 22 Crops. The scheme guidelines for 22 crops along with the list of production clusters have been notified on 08.06.2022 and now, Grants-in-aid is provided in the range of 35%-50% for setting up of value chain development projects.
  • Expression of Interest (EOI) for inviting project proposals from eligible entities as per scheme guidelines was floated on 21.06.2022 and in total 44 projects have been approved in November, 2022 against 56 applications received. In addition, provisional approval has been given by the Ministry recently for two more Value Chain Development projects for Onion and Potato. Thus, total 46 new projects approved under Operation Greens Scheme in the Calendar Year 2022.
  • The details of 46 new projects are as under.

ü Total Project Cost:     Rs. 2218.69 Crore

ü Approved Grants-in-aid: Rs. 466.66 Crore*

ü Private Investment Leveraged: Rs.1752.03 Crore

ü Total Processing Capacity expected to be created: 8,21,780 MT per Annum

ü Total Preservation Capacity expected to be created: 1,81,616 MT

ü Employment Generation: 1,01,559 Nos.

ü Farmers to be benefitted: 1,42,554 Nos.

  • Direct Subsidy through Kisan Rail was continued till 31.03.2022 and it has been discontinued w.e.f. 01.04.2022.
  • Total subsidy disbursed through direct claims under short term interventions in the Calendar Year 2022 till 20.12.2022 is Rs. 29.59 crore against 277 claims for transportation and storage of 2,97,075 MT of notified fruits & vegetables.

F.     Economic Achievement of Food Processing Sector

1. Food processing sector has been identified as one of the Champion Sectors under “Make in India” and has emerged as an important segment of the Indian economy in terms of its contribution to GDP, exports, investment and employment.

2. The export of Processed-Food Products has increased from US$ 8.56 billion in 2020-21 to US$ 10.42 Billion in 2021-22. The share of processed food exports in total Agri- food exports has increased to 22.6% in 2021-22.

3. During 2021-22, food processing sector attracted US$ 709.72 Million of Foreign Direct Investment (FDI).

  1. Promotional Activities

 

  • AKAM – April 2022
  • In order to commemorate 75 years of India's independence, the Government of India is celebrating the 'Azadi Ka Amrit Mahotsav.' As a part of the celebration, Ministry of Food Processing Industries organized ‘Food Processing Week 2.0’ from 25th to 30th April, 2022 under ‘Kisan Bhagidari Prathmikta Hamari’ Campaign by Ministry of Agriculture & Farmers Welfare under the 'Azadi Ka Amrit Mahotsav' umbrella.
  • The Ministry launched the ‘Food Processing Week 2.0’ on 25th April, 2022, through a social media campaignunder which awareness about the schemes of the Ministry, the success story of the beneficiaries of the schemes of the Ministry were covered on social media throughout the week. Apart from this, ODOP workshop and exhibition on Processing and Value Addition of One District One Product is also being organized under PMFME scheme in many districts across the country.
  • In this sequence, Union Minister for Food Processing Industries, Shri Pashupati Kumar Paras virtually inaugurated 75 (seventy-five) food processing projects of Central Sector Scheme - Pradhan Mantri Kisan SAMPADA Yojana.
  • The total cost of these projects is about Rs. 1238 crores, and the Ministry has provided financial support through grant of Rs. 309 crores for these projects. These projects will provide direct and indirect employment to about 36,000 people and benefit about 4 lakhs 63 thousand farmers.

 Source:  pib.gov.in

30 Dec, 2022 News Image Total 46 New Projects Approved Under Operation Greens Scheme In The Calendar Year 2022 With An Outlay Of Rs. 2218.69 Crore
  • ‘Food Processing Week 2.0’ organized by the Ministry of Food Processing Industries, under the ‘Kisan Bhagidari Prathmikta Hamari’ Campaign by the Ministry of Agriculture & Farmers Welfare under the ‘Azadi Ka Amrit Mahotsav’ umbrella.
  • Virtual Inauguration of 75 Food Processing Projects by Union Minister for Food Processing Industries, Shri Pashupati Kumar Paras.

B. Creation Infrastructure Facilities

  • A total of 112 food processing projects were completed/operationalized covering – Mega Food Park:1, ColdChain:15, Units:71, Agro-Processing Clusters(APC):4, Food Testing Laboratories:20, Backward & Forward Linkage projects:1
  • The 112 completed projects have created additional processing and preservation capacity of agricultural produce of 23.08 lakh MT per annum. 15 cold chain infrastructure projects created additional milk processing and storage capacity of 23.30 lakh liter per day and 9.25 MT/hour of IQF (Instant Quick Freezing) of fruits and vegetables.
  • The 112 completed projects leveraged private investment of Rs. 706.04 crore and generated direct and indirect employment for 25293 persons.

C. Approval of New Infrastructure Facilities

  • A total of 190 food processing projects were sanctioned viz; Agro Processing Clusters:23, Cold Chain:33, Units:120, Food Testing Laboratories:12 and Mega Food Park:2
  1. Aatmanirbhar Bharat Abhiyan
  2. Production Linked Incentive Scheme (PLIS) for the Food Processing Industries

As part of Hon’ble Prime Minister’s announcement of Aatmanirbhar Bharat Abhiyan, the Government, on 31st March, 2021, approved a Central Sector Scheme, namely “Production Linked Incentive Scheme for Food Processing Industry” with an outlay of INR 10,900 crores to be implemented for a period of seven years from 2021-2022 to 2026-27.

The primary objectives of this scheme are to support creation of global food manufacturing champions; support Indian brands of food products in the international markets; increase employment opportunities of off-farm jobs; and ensure remunerative prices of farm produce and higher income to farmers.

Specific food product segments, having high growth potential have been identified for providing support under the scheme. These include ready to cook/ready to eat (RTC/ RTE) foods including millet based products, processed fruits & vegetables, marine products and mozzarella cheese. Support to innovative and organic products of SMEs for these product segments and overseas Branding & Marketing are also covered under the scheme. A component for Millet Based Products has subsequently carved out from the scheme, with an outlay of ?800 Crore, to encourage the use of Millets in RTC/RTE products and incentivising them under the PLI Scheme to promote its value addition and their sale in domestic and export markets.

Under the PLI Scheme for Food Processing Industry, a total of 182 applications have been approved under different categories including 30 applications (8 large entities and 22 SMEs) under the PLI Scheme for Millet Based products.

The implementation of PLI scheme is likely to facilitate expansion of food processing capacity by nearly Rs. 30,000 crore and create additional direct and indirect employment opportunities for about 2.5 lakh persons by the year 2026-27. The investments by the PLI beneficiaries is likely to result in increase in sales and export of food products. A positive stimulus to domestic industry is expected as the scheme stipulates that in order to get incentive, the entire chain of manufacturing processes, including primary processing of the food products shall take place in India. The scheme will also facilitate promotion of Indian brands abroad.

As per the data being reported by the PLIS beneficiaries, investment of about ?4900 Crores has been made under the Scheme. Incentives amounting to ?800 Crores are likely to be disbursed in the current financial year. Sales based incentive of ?107.3 Crores has been disbursed so far.

Stakeholder consultations are also underway for introducing a PLI Scheme for Nutraceutical sector to enable this sector to reach its potential and find its rightful place.

  1. PM Formalisation of Micro Food Processing Enterprises (PMFME)

The Prime Minister- Formalisation of Micro Food Processing Enterprises (PM-FME) scheme, aimed at promoting ‘vocal for local’ in the sector, under the Atmanirbhar Bharat Abhiyan, was launched in June 2020 to support 2 lakh micro food processing units with credit linked subsidy with a total outlay of Rs. 10,000crores over the period 2020-2025.

The Scheme adopts One District One Product (ODOP) approach to reap the benefit of scale in terms of procurement of inputs, availing common services, and marketing of products. These ODOP has been approved for 713 districts of 35 States/ UTs with 137 unique products.

  • Capacity Building & Training
  • 760 training modules (ODOP) developed containing Presentations, Videos, DPR and Course Content/Handbook and are available on the PMFME website – https://www.mofpi.gov.in/pmfme/
  • 486 Master Trainers of 35 States/UTs were trained.
  • Training of 931 District Level Trainers for EDP and Food Processing concluded in 26 States/UTs and ongoing in other States
  • 10910 Beneficiaries trained in 26 States/ UTs.
  • 972 DRPs were trained on EDP & ODOP in 32 State/UTs.
  • Seed Capital
  • SHG members engaged in food processing activities are being identified with help of DAY-NRLM under Ministry of Rural Development and DAY-NULM under Ministry of Housing and Urban Affairs.
  • Seed Capital amount of Rs. 252.53 Cr. has been released to SRLM for 79,693 SHG members
  • Seed Capital amount of Rs. 56.06 Cr. released to SULM for 16,159 members.
  • Branding and Marketing:
  • 12 brands have been launched to promote various ODOPs under the Branding & Marketing component of the scheme. These include Dilli Bakes (Bakery), Makhana King (Foxnuts), Kashmiri Mantra (Spices),Amrit Phal (Aamla), Madhu Mantra (Honey), Somdana (Millets), Cori Gold (Coriander), Madhurmithas (Jaggery), Pind Se (Pickle), Madhurmithas (Pineapple Candy), Aasnaa (Murabba, Jaggery) and Bhimthadi ( Millets).
  • Branding and Marketing proposal for phase 2 from NAFED amounting to Rs.19.75 Cr approved by the Inter-Ministerial Empowered Committee (IMEC)
  • 4 State level for Branding & Marketing, two from the State of Karnataka under the brand names “Seemi” and “Bhima” and two from the State of Andhra Pradesh under the brand names “Madugula Halwa” and “Aamodam” approved by the Inter-Ministerial Empowered Committee (IMEC).
  • Incubation Centre:

76 proposals with an Outlay of Rs. 205.95 Crore have been approved which are mainly State Agriculture University, ICAR-KVKs, etc.

  • Credit Linked Subsidy:
  • 58,354 individual applications received out of which 13,638 loans were sanctioned of Rs. 1305.74 crores by Banks. Rs. 129.76 Cr. of Centre share of Credit linked grant has been released to 5210 individual beneficiaries.
  • State Level Upgradation Plan (SLUP)
  • 35 States/ UTs have appointed agencies for conducting studies for State Level Up-gradation Plan (SLUP).
  • SLUPs of Bihar, Dadra Nagar Haveli & Daman and Diu, Delhi, Himachal Pradesh, Karnataka, Maharashtra, Telangana, Tripura and Uttar Pradesh finalized.
  • PM-FME Scheme related Promotional Activities
  • 24 editions of the PMFME e-newsletter have been successfully published and reached more than 7 lakh stakeholders.
  • 51 ODOP Webinars/Offline Workshops are being conducted by States/UTs and NIFTEM/IIFPT
  • 69 success stories of the beneficiaries of the PMFME Scheme published since March 2021 till date via the MoFPI Website and MoFPI and PMFME social media handles.
  • Scheme-related posts regularly published on PMFME social media handles which include Facebook, Twitter, Youtube, and WhatsApp. Special focus on user engagement on social media through contests/quiz in collaboration with MyGov.
  • Convergence
  • A Joint SoP has been signed with Ministry of Agriculture for the convergence with “Agriculture Infrastructure Scheme” to provide the benefit of Interest Subvention to PMFME Beneficiaries.

E.     Operation Green scheme

  • Ministry has been implementing a Central Sector Scheme- “Operation Greens” under Pradhan Mantri Kisan SAMPADA Yojana since November, 2018. The scheme has two components namely short term interventions and Long Term Interventions i.e. Value Chain Development Projects.
  • In pursuance of budget announcement 2021-22, the scope of long term interventions i.e. value chain development under this scheme has been expanded from TOP crops to 22 Crops. The scheme guidelines for 22 crops along with the list of production clusters have been notified on 08.06.2022 and now, Grants-in-aid is provided in the range of 35%-50% for setting up of value chain development projects.
  • Expression of Interest (EOI) for inviting project proposals from eligible entities as per scheme guidelines was floated on 21.06.2022 and in total 44 projects have been approved in November, 2022 against 56 applications received. In addition, provisional approval has been given by the Ministry recently for two more Value Chain Development projects for Onion and Potato. Thus, total 46 new projects approved under Operation Greens Scheme in the Calendar Year 2022.
  • The details of 46 new projects are as under.

ü Total Project Cost:     Rs. 2218.69 Crore

ü Approved Grants-in-aid: Rs. 466.66 Crore*

ü Private Investment Leveraged: Rs.1752.03 Crore

ü Total Processing Capacity expected to be created: 8,21,780 MT per Annum

ü Total Preservation Capacity expected to be created: 1,81,616 MT

ü Employment Generation: 1,01,559 Nos.

ü Farmers to be benefitted: 1,42,554 Nos.

  • Direct Subsidy through Kisan Rail was continued till 31.03.2022 and it has been discontinued w.e.f. 01.04.2022.
  • Total subsidy disbursed through direct claims under short term interventions in the Calendar Year 2022 till 20.12.2022 is Rs. 29.59 crore against 277 claims for transportation and storage of 2,97,075 MT of notified fruits & vegetables.

F.     Economic Achievement of Food Processing Sector

1. Food processing sector has been identified as one of the Champion Sectors under “Make in India” and has emerged as an important segment of the Indian economy in terms of its contribution to GDP, exports, investment and employment.

2. The export of Processed-Food Products has increased from US$ 8.56 billion in 2020-21 to US$ 10.42 Billion in 2021-22. The share of processed food exports in total Agri- food exports has increased to 22.6% in 2021-22.

3. During 2021-22, food processing sector attracted US$ 709.72 Million of Foreign Direct Investment (FDI).

  1. Promotional Activities

 

  • AKAM – April 2022
  • In order to commemorate 75 years of India’s independence, the Government of India is celebrating the ‘Azadi Ka Amrit Mahotsav.’ As a part of the celebration, Ministry of Food Processing Industries organized ‘Food Processing Week 2.0’ from 25th to 30th April, 2022 under ‘Kisan Bhagidari Prathmikta Hamari’ Campaign by Ministry of Agriculture & Farmers Welfare under the ‘Azadi Ka Amrit Mahotsav’ umbrella.
  • The Ministry launched the ‘Food Processing Week 2.0’ on 25th April, 2022, through a social media campaignunder which awareness about the schemes of the Ministry, the success story of the beneficiaries of the schemes of the Ministry were covered on social media throughout the week. Apart from this, ODOP workshop and exhibition on Processing and Value Addition of One District One Product is also being organized under PMFME scheme in many districts across the country.
  • In this sequence, Union Minister for Food Processing Industries, Shri Pashupati Kumar Paras virtually inaugurated 75 (seventy-five) food processing projects of Central Sector Scheme – Pradhan Mantri Kisan SAMPADA Yojana.
  • The total cost of these projects is about Rs. 1238 crores, and the Ministry has provided financial support through grant of Rs. 309 crores for these projects. These projects will provide direct and indirect employment to about 36,000 people and benefit about 4 lakhs 63 thousand farmers.
  • Food Processing Summits:
  • Ministry of Food Processing Industries organized food processing summitsin Telangana, Andhra Pradesh, Andaman, Chhattisgarh, Jharkhand, Nagaland, Arunachal Pradesh, West Bengal, Mizoram, Manipur, Sikkim andMeghalaya during May 2022 and December 2022 respectively for creating awareness of various initiatives of Government of India in the agri-food sectors, Ministry’s schemes, investment opportunities etc. These summits witnessed participation of stakeholders, including Farmer Producer Organization’s (FPOs), entrepreneurs, corporates, bankers, State departments etc.
  • Social Media Activities:
  • Monthly Social Media Campaigns are being launched to spread awareness regarding Covid-19.
  • ‘Under the Amrit Mahotsav, Know Your Scheme’ three-month social media campaigns being run by the Ministry in which, one post related to MOFPI Scheme & sub-schemes are being posted regularly over the social media handles.
  • Union Minister Shri Pashupati Kumar Paras inaugurated ‘NIFTEM Capacity Building Centre’ & launched the Makhana King ODOP brand in Patna, Bihar in Month January 2022.  The inauguration was widely disseminated on all the social media handles of the Ministry.
  • Union Minister Shri Pashupati Kumar Paras and MoS Shri Prahlad Singh Patel launched 3 ODOP Brands & 5 products developed under the branding and marketing component of the #PMFMEScheme. The 3 brands launched were Pind Se, Madhurmithas & Anaras from Amritsar, Muzaffarnagar and RiBhoi district and the 5 products launched were Mango Pickle, Jaggery Powder, Spicy Dried Pineapple, Kashmiri Masala Paste and Lemon Honey.

 

  • “Centre of Excellence in Non-thermal Processing, NIFTEM-T Entrance Arch & Woman’s Day Special Awareness Program on PMFME Scheme for SHGs was Virtually Inaugurated by Union Minister Shri Pashupati Kumar Paras &MoS Shri Prahlad Singh Patel in March2022.
  • Ministry participated in the “AAHAR 2022” event, an International Food and Hospitality Fair in association with APEDA in the month of April at Pragati Maidan, New Delhi.  A total number of 33 beneficiaries of the Schemes of the Ministry were allocated stalls free of cost to exhibit their products, and to hold B2B meetings.
  • Ministry also participated in 15thedition session of Annapoorna and FOODWORLDINDIA at Mumbai in September 2022.  Hon’bleMinister of State Shri Prahlad Singh Patel Inaugurated the event.A total number of 18 beneficiaries of the Schemes of the Ministry were allocated stalls free of cost to exhibit their products, and to hold B2B meetings.
  • Union Minister Shri Pashupati Kumar Paras and Union Minister of Agriculture and Farmers Welfare Shri Narendra Singh Tomar inaugurated the ‘Convergence Portal’ in September, 2022.
  • The ‘Sashakt Bharat Ki AatmanirbharNaari’ campaign was held on the occasion of ‘Women’s Day’ from 1 March 2022 to 30 March 2022 and “Anna Devo Bhava-Food for All 2.0” online quiz competition was run in collaboration with MyGov.The competition was hosted on MyGov Platform and on Ministry of Food Processing Industries’ social media handles during the period from 11 March 2022 to 31 March 2022.
  • To celebrate World Food Day, 15 days’ campaign was launchedover the Social Media handles of the Ministryin October 2022 & to widely promote the International Year of Millet 2023 posts related to Millet-based processed food were shared during this period.
  • A social media campaign on Swatchh Office was launched to spread awareness related to cleanliness in the office premise.
  • Various campaigns were launched on the occasions like Vigilance day, Constitutions dayand Ayurveda day for one week respectively.
  • MoFPI participated in the 3-days SIAL INDIA 2022and the event was covered on all the MoFPI’s social media handles.A total number of 38 beneficiaries of the Schemes of the Ministry were allocated stalls free of cost to exhibit their products, and to hold B2B meetings.
  • Investment Promotion

Ministry of Food Processing Industries (MoFPI), Government of India has set up a dedicated Investment Facilitation Cell with Invest India – the national investment promotion and facilitation agency of Government of India. Some of the key activities undertaken under Investment Promotion during 2022 were as follows –

1)     Regular interactions with State Government and UT Administrations through Project Development Cell of MoFPI, to discuss about development of investible projects, potential investment interest, company specific issues, creating awareness about various initiatives of Government of India in the food processing sector

2)     Food processing summits were organized in various states / UT such as Madhya Pradesh, West Bengal, Assam, Jharkhand, Meghalaya, Nagaland, Arunachal Pradesh, Odisha, Andaman & Nicobar etc. These summits focused on creating awareness about benefits under MoFPI schemes, B2G interactions etc.

3)     Interactions were held with Indian and Foreign Missions to promote opportunities and attract investments in Indian food processing sector

4)     Active participation in domestic events such as AAHAR 2022, Annapoorna ANUFOOD India and SIAL 2022. During these events, initiatives of the Ministry were showcased amongst relevant stakeholders, interactions were held with participating business visitors.

  • Skill Study Commissioned by MoFPI and its outcomes: –

The Ministry of Food Processing Industries (MoFPI) commissioned a study titled “Study to assess Human Resource and Skill Requirements in Indian Food Processing Sector during 2021-2030” in October 2020 through M/s. Feedback Business Consulting Services Private Limited, Bangalore. The study was mandated to cover 11 sub-sectors of the Food Processing Sector as they are considered the major segments in terms of production, huge scope for increasing processing levels, the requirement of the skilled labour force in these sub-sectors, etc. The 11 sub-sectors are – Bread and Bakery products, Cold Chain (including logistics), Dairy Products, Fish and Seafood processing, Fruits & Vegetables Processing, Meat & Poultry Processing, Milling (Grains & Oilseeds), Beverages (Tea & Coffee), Ready-to-Eat & Ready-to-Cook Products, Soya Processing and Spices. The above Study report was finally accepted by the Ministry in September 2022 and has since been published on the Ministry’s website. The above study has identified that the net expected number of skilled human resource requirement in these 11 sub-sectors of Food Processing during 2021-30 is around 13.4 Lakh”.

 

G. Achievements of NIFTEMs

  1. NIFTEM-Kundli, Haryana
  • In NIRF India Rankings 2022 under the Engineering category, NIFTEM-K scored 37.96 and ranked 127 among 1249 Institutions participated.
  • NIFTEM-K conducted its 4th Convocation on 24 June 2022 in which B.Tech., M.Tech., MBA and Ph.D. degrees were conferred on students passed out from the Institute in the Academic Year 2020 and 2021 by the Honourable Chancellor, NIFTEM Deemed to be University, Smt. Anita Praveen, Secretary, Ministry of Food Processing Industries, Govt. of India. The Union Minister of State, MoFPI, Shri Prahlad Singh Patel was the Chief Guest. He honoured 19 students with Ph.D. degrees and awarded Gold Medals to 14 top rankings students of B. Tech., 5 disciplines of M. Tech. and MBA passed out at the end of academic years 2020 and 2021.
  • In all 525 students were conferred Degrees in the 4th Convocation. It included 306 B. Tech., 155 M. Tech., 45 MBA and 19 Ph.D. graduates.
  • About 37% of B. Tech., 34% of M. Tech. and 52% of MBA students received paid internships.
  • Overall, 84% B. Tech., 98% M. Tech. and 100% MBA students were selected in campus placement by companies/industries, with overall placement of 93.33% for the year 2021-2022.
  • There was 100% placement in the MBA and 4 disciplines of M. Tech.
  • R&D Portal, a repository of the country’s R&D works on Food processing technologies and Value addition is developed by NIFTEM, and continuously updated jointly by MoFPI, NIFTEM-K and NIFTEM-T.  The website present the information on products, processes and technology development as well as latest innovations by different Food Technology development Institutes of the country to all categories of users such as entrepreneurs, industry, promoters, consumers, researchers, students and many more. At present, the portal has 355 technologies developed in India.
  • NIFTEM-K has obtained 2 patents entitled “New Method for Preservation of Sugarcane Juice” and “A Refrigerator Operable on both AC and DC Supply”. Two more patents have been filled.
  • Copyright for “3D Printing of PidiKollukatti” has been obtained. One more copyright has been registered.
  • CFRA, an advanced Food Testing facility set up by NIFTEM in 2018 as a referral laboratory of FSSAI. It has acquired the prestigious accreditation of ISO/IEC17025-2017 from NABL, and integrated accreditation from FSSAI & APEDA for food quality testing. There are more than 2500 test parameters accredited by NABL in chemical and biological disciplines.
  • NIFTEM-K has joined hands with GAIN, an international development sector partner and Hexagon Nutrition, a leading food and nutraceutical company to set up a Centre of Excellence for Food Fortification with aim to address the problem of malnutrition, including the micronutrient malnutrition, through scalable solutions. It has three demonstration units of fortification of wheat flour (capacity 50 kg/h), edible oil (capacity 50 kg/h) and rice.
  • NIFTEM-K PMFME-PMU has prepared Video, PPT, DPR, and Handbook on 62 unique products with 95 sub-categories and all the contents are translated to 13 regional languages.
  • NIFTEM-K observed Nutrition month (September 2021), Hindi Pakhwada (14-28 September 2021) and International Women’s Day (8 March 2022) with several events befitting to the celebration.
  • NIFTEM-K Technology Innovation and Business Incubation Foundation (NTIBIF) conducted its first Cohort N-SIP 1, and incubated 5 Startups with business ideas ranging from ready to cook curries, farm to fork model based business, Suvarnahaldi infused cookies and green tea, millet based cookies and wellness and immunity boosting tonics and products.
  • NTIBIF launched its second program N-SIP 2 on 20 February 2022. Total 10 incubates have be
     Source:  orissadiary.com
30 Dec, 2022 News Image Russia starts foreign trade settlements in rupee, more countries to join
Russia has become the first country to begin settlement of foreign trade in rupee, giving up dollar and euro all together. Recently, a few transactions in the Indian currency involving Russian firms have taken place.
 
The Reserve Bank of India (RBI) in July this year introduced guidelines to promote the settlement of international trade in rupee.
 
Financial Express in a report quoted trade sources saying more transactions in rupee are likely to take place in coming months as a sanction-hit Russia has opened a dozen-and-a-half vostro accounts to facilitate trade.
 
Not just Russia, Sri Lanka and Mauritius have opened vostro accounts to facilitate the rupee trade.
 
Facilitating the rupee trade is expected to spur exports to Russia, which dropped by 16 per cent till October this fiscal from a year ago to $1.6 billion majorly due to the delayed receipt of payments.
 
Countries interested in rupee trade mechanism
 
There are about 30-35 countries, including those from Asia, Scandinavia and Africa who have expressed interest in better understanding the rupee trade mechanism for possible adoption.
 
India’s neighbours – Sri Lanka, Bangladesh, Myanmar, Nepal – which have been facing shortage of dollar reserves have also shown interest in trade settlements in rupee.
 
Also Read: Sri Lanka, Russia to use Indian rupee for international trade, more countries in talks
 
India is also in talks with Southeast Asian, African and Latin American countries to start trade settlement in rupee.
 
Which Russian banks have opened vostro accounts?
 
In the recent months, trade with Russia has increased as it has enhanced the supply of discounted crude to India. After Russia began invasion in Ukraine, several Western countries slapped sanctions on
 
Moscow, putting off the SWIFT system (the system which is used by banks for payments in foreign currency).
 
Russian banks including Sberbank, VTB, Gazprom, BCS, MTS, Tinkoff, Soyuz, Credit Europe Bank (Russia), PSCB, Ros and JSCB have opened Vostro accounts.
 
Of these, six accounts have been opened with IndusInd Bank and one each with UCO Bank, HDFC Bank, Union Bank of India and Canara Bank.
 
As per the FE report Sberbank and VTB have opened one such account with their local branches.
 
Meanwhile, SBI Mauritius and People’s Bank of Sri Lanka have opened vostro accounts with State Bank of India (SBI).
 
Sri Lankan banks — Seylan Bank, NDB Bank and Commercial Bank of Ceylon — have opened vostro accounts with Indian Bank. Bank of Ceylon has opened one such account with its branch in India.
 
Read all the Latest News, Trending News, Cricket News, Bollywood News,
India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.

 Source:  firstpost.com
30 Dec, 2022 News Image Bangladesh: Govt approves purchase of 2.09cr litres of soybean oil for Ramadan
The government today approved a proposal to buy 2.09 crore litres of soybean oil and 8,000 tonnes of lentils for the upcoming holy month of Ramadan.
 
The cabinet committee on government purchase approved the Trading Corporation of Bangladesh's (TCB's) proposal to buy 44 lakh litres of soybean oil from Sena Edible Oil Industries for Tk 81.18 crore through a local direct purchase method.
 
The meeting also approved the purchase of 1.1 crore litres of soybean oil from Zad Al Rahil International LLC Sultanate of Oman at a cost of Tk 151.74 crore through international direct purchase method by TCB.
 
Besides, approval was given to purchase 55 lakh litres of soybean oil from Shun Shing Edible Oil Limited at Tk 101.47 crore through direct purchase method locally.
 
 
According to another approved proposal, 8,000 tonnes of lentils will be purchased from India for Tk 81.57 crore through international open tender.

 Source:  thedailystar.net
30 Dec, 2022 News Image APEDA flags-off Marayoor jaggery shipment to Canada
The Agricultural and Processed Food Products Export Development Authority (APEDA) organised a virtual flag-off of marine shipment of the GI-tagged ‘Marayoor Jaggery’, sourced from Anchunadu Karimbu Ulpadhana Vipanana Sangam based at Marayoor in Idukki, to Toronto in Canada on Wednesday.  
 
Sanjay Kumar Verma, High Commissioner of India in Canada, flagged off the consignment. Mr. Verma said there existed a large market in Canada for Indian products with around 2.3 million Indian diaspora in that country. He added that cane jaggery exports from India to Canada had gone up significantly over the past few years, but comparing the global import of cane jaggery to Canada, the share of India is meagre.  
 
The consignment was shipped by Nilamel Exports, according to a communication.

 Source:  thehindu.com
30 Dec, 2022 News Image Trade agreement with Australia coming into force watershed moment for our partnership: PM Modi
Prime Minister Narendra Modi on Thursday said the India-Australia Economic Cooperation and Trade Agreement (ECTA) will unlock the enormous potential of economic ties between the two countries, and described its operationalisation as a 'watershed' moment. The India-Australia ECTA) has come into force from December 29.
 
'Glad that IndAus ECTA is entering into force today. It is a watershed moment for our Comprehensive Strategic Partnership. It will unlock the enormous potential of our trade and economic ties and boost businesses on both sides. Look forward to welcoming you in India soon,' Modi tweeted.
 
The free trade agreement (FTA) between India and Australia will help boost the bilateral trade in goods and services to cross USD 70 billion in the next five years, according to economic think tank GTRI.

 Source:  economictimes.indiatimes.com