India has entered into a contract for export of about 35 lakh tonnes of sugar so far in the ongoing 2022-23 season, out of which 2,00,000 tonnes have been shipped last month, industry body ISMA said on Thursday.

 

The 2022-23 sugar export policy announced on November 5 allowed exports of 60 lakh tonnes of the sweetener on a quota-basis till May 31. Further quantities for export would be allowed after assessing the domestic production.

 

According to Indian Sugar Mills Association (ISMA), 'As per port information and market reports, about 35 lakh tonnes of contracts for export of sugar have already been entered into so far.'

 

Out of this, about 2,00,000 tonnes sugar have been physically exported out of the country in October, when compared to about 4,00,000 tonnes in the corresponding month last year, it said in a statement.

 

ISMA noted several traders entered into export contracts for the 2022-23 season much before the export policy was announced by the government.

 

'Since then, there has been upward trend in international prices of sugar, as a result of which sugar mills are renegotiating export contract prices,' it said.

 

The crushing operation has begun in the current 2022-23 season. Mills have produced 19.9 lakh tonnes of sugar till November 15 of the current season, slightly lower than 20.8 lakh tonnes in the year-ago period.

 

Several sugar mills in West started their operations late this season, because of which the sugar production till November 15 was slightly lower, it added.

 

In the 2021-22 season, the country had exported 11 million tonnes of sugar.

Myanmar is committed to enhancing bilateral ties and wants to expand the G2G trade basket with inclusion of more agro items such as green mung beans, a minister from the southeast Asian country said.

 

The government-to-government (G2G) memorandum of understanding on trade cooperation for urad and tur pulses, signed in June 2021, has been 'very successful', Myanmar minister of Commerce Aung Naing Oo told PTI in an interaction during his visit to Kolkata earlier this month.

 

'It (the MoU) is not just the success of two governments, it is the success of people of both sides,' he said.

 

Naing Oo also hoped that both countries will be able to expand their trade basket under the G2G MoU by including green mung beans and more pulses.

 

According to the MoU, Myanmar can export 250,000 tonne of urad and 1,00,000 tonne of tur to India annually from the 2021-22 fiscal to 2025-26 financial year.

 

Pulses and beans are among Myanmar’s major export items to India.

 

The southeast Asian country is 'committed to enhancing bilateral ties' and engagements through meetings of the India-Myanmar Joint Trade Committee, Joint Border Trade Committee and other events, Naing Oo said.

 

Myanmar is encouraging bilateral trade settlement in local currencies with India, he said.

 

'We are also diversifying the use of the currencies of neighbouring countries in trade, and the Central Bank of Myanmar has been working closely with its counterpart in India for being able to use the rupee and the kyat (currency of Myanmar) in our bilateral trade,' the Myanmar commerce minister told PTI.

 

The Myanmar government had reportedly intended to initiate the currency convertibility for the Indian rupee for trade along the border it shares with India, following the southeast Asian country’s agreement to deal in Thai baht with neighbours and the kyat-baht initiative for border trade with China.

 

Notably, the Centre allowed international trade settlements in Indian rupees for export promotion schemes under the Foreign Trade Policy.

 

Myanmar is aware of the 'Act East' and 'Neighborhood First' Policies of India and is ready to join hands for promoting trade, investment, and all other key sectors for the benefit of the people on both sides, Naing Oo said.

 

He also stated that potential areas include agriculture, agro-processing, agrochemicals, oil and gas, energy, healthcare, information technology, skill development, and textiles.

 

The minister also said projects such as the Kaladan Multi-Modal Transit Transport will create a route for the shipment of cargo from Kolkata to Myanmar as well as to the northeastern region of India through Mizoram.

 

The project will link Kolkata with Sittwe port in Myanmar’s Rakhine state, spanning over 500 km.

 

Myanmar supports the successful completion of negotiation for the coastal shipping agreement, which will help Indian vessels access Mizoram through Sittwe Port on the Bay of Bengal and the Kaladan River multi-modal link between South East Asia and South Asia, according to the minister.

Union Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal today said that India is a bright shining spot in the world economy amidst global economic uncertainty. He was addressing the 21st World Congress of Accountants in Mumbai.

 

Union Commerce Minister said that India has demonstrated that despite the prevailing volatility, uncertainty, complexity, ambiguity in the world, our country has the leadership, capabilities and the skill that is required to navigate the economic recovery. 'Despite the pandemic challenges, very reasonable measures were taken to sustain the Indian economy where a strong focus was on the macroeconomic fundamentals. Our Government focussed on inclusive well-being of all sections of society.'

 

The Union Commerce Minister said that the world today is looking up to Indian economy to steer growth and to show the way. 'The world recognises India’s strong economic fundamentals, demographic dividend, an unmatched consumer base, skillsets and management abilities of India’s youth.'

 

Speaking about the G-20 presidency, the Commerce Minister said that our theme for the G20 Presidency is ‘Vasudhaiva Kutumbkam’. 'India believes that the world is one family. India cares for the whole world and it is in this context that we have placed the theme of our Presidency as One Earth, One Family, One Future. While the world focuses on consumption led growth, India focuses on sustainability and respects nature. India believes in inter-generational equity and that it is incumbent on each one of us to leave behind a better planet than the one we have inherited.'

 

The Union Minister said that we are working with a vision to make India a developed nation by 2047 and to take prosperity to every Indian. 'Prime Minister Shri Narendra Modi and the people of India have envisioned a future where we wish to see India a developed nation as we celebrate 100 years of Independence'.

 

Addressing the Chartered Accountants at the World Congress of Accountants, the Union Minister said Chartered Accountants are custodians of this vision. 'CAs will be required to validate the progress of this mission, to recognise whether all that is promised and agreed amongst nation, is being implemented. We certify the true and fair picture.'

 

He added 'In the global economic recovery as the world prepares itself for better energy security, food security, as we see the future where innovation and technology is going to drive growth, it is the responsibility of all of us as CAs to work with the Government & Institutions'.

 

The 21st World Congress of Accountants 2022 is being hosted by The Institute of Chartered Accountants of India in Mumbai in Hybrid mode. This theme for the WCOA 2022 is ‘Building Trust Enabling Sustainability’.

Taking a step towards implementation of the India-Australia free trade pact, Canberra's Joint Standing Committee on Treaties Friday recommended ratification of the Economic Cooperation and Trade Agreement (ECTA) with New Delhi to its government.

 

The committee, which has been appointed by the Commonwealth Parliament and reviews Australian government's treaty actions, said that 'there is no single market with more growth opportunities for Australian businesses than India'.

 

The ECTA will enter into force 30 days after both countries have confirmed with each other in writing that they have completed their respective domestic requirements.

 

As per the committee's report, opening new markets is important for market diversification for Australia, and deepening economic links with 'like-minded partners would support open markets and a stable and prosperous Indo-Pacific'.

 

'Other countries are negotiating agreements with India, and Australia risks being left behind...demonstrating the commitment of Australia and India to trade liberalisation and countering protectionist sentiment during a period of geopolitical uncertainty and trade tensions,' it said while raising concerns at the lack of consultation on the deal, transparency of the negotiations and independent modelling.

 

The agreement, once implemented, will provide duty-free access to the Australian market for over 6,000 broad sectors of India, including textiles, leather, furniture, jewellery and machinery.

 

Under the pact, Australia is offering zero-duty access to India for about 96.4% of exports (by value) from day one. This covers many products that currently attract 4-5% customs duty in Australia.

The government on Thursday reconstituted a committee for preparation of an   actionable export and financial road map for 'One-District-One-Product' (ODOP).

 

'In supersession of Government Order No 1257-JK(GAD) of 2022 dated October 18, 2022, sanction is hereby accorded to constitution of a Committee for preparing an actionable export and financial road map for 'One-District-One-Product' (ODOP) scheme in Union Territory of Jammu & Kashmir,' read GAD order.

 

As per GAD order, the reconstituted panel will have Administrative Secretary Agriculture Production Department as chairman.  Administrative Secretary Industries and Commerce Department; Director Agriculture Jammu; Director Agriculture Kashmir; Director Horticulture Jammu; Director Horticulture Kashmir; Director Industries and Commerce Jammu/Kashmir; Director Handloom and Handicrafts Jammu/Kashmir; Managing Director JK Trade Promotion Organization; Managing Director J&K Horticulture, Planning Marketing Corporation; a representative each of Development Commissioner, Ministry of Commerce, Government of India and Director General of Foreign Trade, Government of India; Chief General Manager NABARD will be its members.

 

A representative of APEDA; Regional Director Reserve Bank of India; General Manager J&K UTLBC and Circle Head Punjab National Bank, Jammu will also be its members.

The Uttar Pradesh government is set to leverage the Varanasi-Haldia inland waterway to boost exports, including those of farm commodities and manufacturing goods. The government is targeting increasing of merchandise exports from Rs 1.56 trillion to Rs 3 trillion in the next three years. The micro, small and medium enterprises (MSME) sector contributes 75 per cent to the state’s export basket.

The plan is to harness easy and cheaper cargo movement from Varanasi through the Ganga to the seaport in West Bengal to export agricultural and horticultural produce, dairy products and MSME items. Growing number of expressway projects, coupled with 4-6-lane state and national highways, provides faster connectivity between destinations. The integration of the Varanasi-Haldia inland waterway with the road and expressway network will provide a seamless transportation channel for the state’s export cargo.

 

Although the Varanasi-Haldia inland waterway, operated by the Inland Waterways Authority of India (IWAI) is operational, the state aims to develop alternative intrastate inland waterways systems to cater to both passenger and cargo movements. 'The state government will offer full support to the Centre to develop such waterways projects, which will go a long way in providing jobs to the youth and benefitting the farmers,' Chief Minister Yogi Adityanath said.

 

He said the state was at the crux of the Eastern and Western Dedicated Freight Corridors and is fast developing as a multimodal logistics hub in India.

 

Meanwhile, the Varanasi inland port has already clocked exports of one district one product (ODOP) items worth Rs 3,700 crore to date.

 

According to Union Ports, Shipping and Waterways Minister, Sarbananda Sonowal, the inland waterways cargo movement had jumped from 16 million tonnes (Mt) in 2016 to 109 Mt in 2021-22. Recently, he inaugurated seven community jetties and laid the foundation of eight others on the Ganga. In UP, jetties are being developed on a 250 km stretch between Varanasi and Ballia to facilitate small-scale industries, enhance the region’s cultural heritage and generate local employment opportunities.

Union Agriculture and Farmers Welfare Minister Shri Narendra Singh Tomar has said that Haryana is ahead in crop production and horticulture, it cannot be praised enough. Today it is necessary that farmers cultivate new crops, use technology in production and produce quality products. It is a matter of happiness that the farmers of Haryana and the Haryana government are walking on this path. Shri Tomar was speaking at the inauguration of 30 Integrated Pack Houses across the state at Aterna village in Sonipat (Haryana). During this, Haryana's Agriculture and Farmers Welfare Minister Shri Jayprakash Dalal was also present.

 

In this programme organized by the Horticulture Department of the Haryana Government, Union Minister Shri Tomar praised the schemes being run for the farmers in the state. In Haryana, 30 pack houses are being built across the state through FPOs. The Haryana government has planned about 500 pack houses, and not just 100 pack houses in the state. Setting up of 100 pack houses will change the picture of Haryana, while 500 pack houses will bring revolution in the field of horticulture in the state. Shri Tomar said that the Government of India and Prime Minister Shri Narendra Modi care about the farmers. To help the farmers, the Central Government has deposited Rs 2,17,000 crore in the accounts of crores of farmers under the Kisan Samman Nidhi. Minimum Support Price has been fixed for Rabi and Kharif crops, which is directly benefiting the farmers. Shri Tomar said that the Haryana government is walking step by step with the Central Government and is also implementing 100 percent central schemes in the state. He also praised the Haryana government for starting an insurance scheme for fruits and vegetables.

 

Shri Tomar said that Haryana is the leading state in agriculture. The farmer here is in a good condition. There have been innovations in farming in the last 7 to 8 years. Efforts have been made to develop farmers and agriculture. The Haryana government has helped the farmers by purchasing coarse grains. He said that the results of the new schemes of the Central Government and the Haryana Government have started coming. He also praised Haryana Chief Minister Shri Manohar Lal and Agriculture Minister Shri J.P. Dalal regarding progress in the agriculture sector.

 

Central and Haryana government accepted the primacy and priority of agriculture

 

Shri Tomar said that India is an agricultural country. The importance and priority of agriculture has been accepted by the Central and Haryana Government. History is witness that the village economy has supported in the recession. The world had stopped at the time of Corona. Knowing the problems of the farmers, the central government bought the crop by setting up more purchase centers. That year the sowing of the farmers crop was more than the previous years. The export of agricultural products stood at Rs.4.4 lakh crore.

 

Haryana is the state of farmers – no other state has as many schemes as the Haryana government has brought: Shri J.P. Dalal

 

Haryana's Agriculture Minister Shri Dalal welcomed Union Agriculture Minister Shri Tomar on his arrival in Haryana. He said that Haryana is a state of farmers. No other state has as many schemes as the Haryana government has brought for the farmers. This includes Crop Insurance Scheme, Bhavantar Bharpayee Yojana, purchase of crops on MSP, proper arrangement of mandis etc. He said that under the guidance of Prime Minister Shri Narendra Modi and Chief Minister Shri Manohar Lal, pack houses have been established in the state through FPOs. This will benefit the farmers.

 

Shri Dalal said that today there are 11 excellence centers in the state, through which crores of saplings are being prepared and given to the farmers. Farmers of Haryana are being given the benefit of crop insurance scheme. The state government has doubled the budget for canals. Up to 85 percent subsidy is being given in the field of irrigation. The Haryana government has formed a pond authority for the renovation of ponds. Along with this, brackish water farmers have been encouraged to take up shrimp farming. The land on which earlier the farmer used to earn 20 to 30 thousand rupees annually, today 20 to 30 lakh rupees are being earned from shrimp farming. Shri Dalal said that cold stores, pack houses are being established in the state. The world's largest vegetable market is being set up in Gannaur, which will be spread over 5500 acres. It will cost Rs 10,000 crore to make it. This will provide employment to thousands of people.

 

Shri Dalal said that the day is not far when the products of the farmers of Haryana will go to America and other countries. He said that the farmer of Haryana is influenced by the policies of Shri Modi and Shri Manohar Lal. Prosperity of farmers will bring prosperity in Haryana. He said that Haryana was number one in agriculture, is number one and will remain number one.

 

Additional Chief Secretary, Agriculture and Farmers Welfare Department, Haryana Smt. Sumita Mishra also addressed.

 

On this occasion, Sonipat's MP Shri Ramesh Kaushik also welcomed and felicitated Union Minister Shri Tomar on reaching Sonipat.

In the last eight years, Haryana’s exports have registered over a three-fold rise from Rs 68,032 crore in 2013-14 to Rs 2.17 lakh crore in 2021-22.

 

Several schemes have been implemented to promote industrial exports by the Haryana government during the past few years.

 

'Consequently, not only Haryana got a new identity but the state has taken a quantum leap in its export graph. As per the official figures in 2013-14, Haryana exported goods worth Rs 68,032 crore, while increasing this by four-fold to touch exporting goods worth Rs 2,17,222 crore,' said an official statement here on Thursday.

 

As the Manohar Lal Khattar-led BJP government promoted the ease of doing business (EoDB), Haryana is now third in the country and first in North India in terms of EODB, whereas in the year 2014 it was at 14th position, it added.

 

Economic development has also remained the utmost priority of the chief minister and his government, along with generating jobs and providing livelihood to thousands of people as the state has emerged as a preferred global investment destination.

 

To propel the state to the next level of growth trajectory, Enterprise Promotion Policy (EPP) in the year 2015 was launched. The policy is aligned with the ‘ Make in India’ ‘Digital India’ and ‘Skilling India’ campaigns of the central government and offers best-in-class incentives to attract investments.

 

Going a step ahead to create a more conducive environment for the industries in the state, for the first time, Haryana has formulated Haryana Enterprises and Employment Policy (HEEP) 2020 after considering suggestions from the industrialists, the statement said.

 

The policy fulfils the chief minister’s vision to establish Haryana as a competitive and favoured investment destination, achieve regional development and export diversification, and augment livelihood opportunities for its people through resilient economic development.

 

The policy objective is to attract investments of Rs 1 lakh crore and generate 5 lakh jobs in the state. Many big investors are currently coming forward to invest, the investment said.

 

The state government had also launched Programme to Accelerate Development for MSME Advancement (PADMA) programme to strengthen the economic condition of every region.

 

Under PADMA ‘clusters’ of small and medium industries are being established at the block level. Clusters have been formed in all 143 blocks of the state. In the first phase, the work of developing 40 clusters has started.

 

Brands — namely Har Amrit for fertilizer, Har Agro for cattle feed, Haryana Fresh for mineral water, and Ikshu for sugar are being promoted to give special recognition to the products of the state, it added.

 

'Five special policies have been implemented for agriculture and food processing, textiles, warehousing-logistics retail, pharmaceutical and MSME sectors. For settlement of government dues and other disputes, help has been provided to industrialists through’ Vivaadon ka Samadhan’.

 

'A state-of-the-art industrial and commercial township is being developed on about 3,300 acres of land near Kharkhoda town in Sonipat district and Industrial Model Township is being developed on 1,400 acres at Sohna in Gurugram,' as per the statement.

 

Walmart Vriddhi E-Institute has been started by Walmart in Panipat. Setting up of Medical Device Park in Panipat and Bulk Drugs Park in Hisar and Food and Drug Testing Lab in Panchkula are among some of the ambitious industrial development projects being undertaken by the state government.

 

'We are providing a conducive environment to the investors because of which the state has become a favourable investment destination.

 

'No stone is left unturned to facilitate prospective investors by taking care of their investments and other needs. State government’s investment-friendly policies are becoming a role model among other states,' the statement quoted Chief Minister Manohar Lal Khattar as saying.

India has entered into a contract for export of about 35 lakh tonnes of sugar so far in the ongoing 2022-23 season, out of which 2,00,000 tonnes have been shipped last month, industry body ISMA said on Thursday. The 2022-23 sugar export policy announced on November 5 allowed exports of 60 lakh tonnes of the sweetener on a quota-basis till May 31. Further quantities for export would be allowed after assessing the domestic production.

 

Sugar season begins from October to September.

 

According to Indian Sugar Mills Association (ISMA), 'As per port information and market reports, about 35 lakh tonnes of contracts for export of sugar have already been entered into so far.'

 

Out of this, about 2,00,000 tonnes sugar have been physically exported out of the country in October, when compared to about 4,00,000 tonnes in the corresponding month last year, it said in a statement.

 

ISMA noted several traders entered into export contracts for the 2022-23 season much before the export policy was announced by the government.

 

'Since then, there has been upward trend in international prices of sugar, as a result of which sugar mills are renegotiating export contract prices,' it said.

 

The crushing operation has begun in the current 2022-23 season. Mills have produced 19.9 lakh tonnes of sugar till November 15 of the current season, slightly lower than 20.8 lakh tonnes in the year-ago period.

 

Several sugar mills in West started their operations late this season, because of which the sugar production till November 15 was slightly lower, it added.

 

In the 2021-22 season, the country had exported 11 million tonnes of sugar.

The country's export of oilmeal, used as animal feed, rose 38.45 per cent to 19.84 lakh tonnes during the April-October period of the current fiscal on sharp rise in shipment of rapeseed meal, industry body SEA said on Thursday. The country had exported 14.33 lakh tonnes of oilmeal in the same period of the previous financial year.

 

According to Solvent Extractors Association of India (SEA), out of the total oilmeal exports, the shipment of rapeseed meal doubled to 13.41 lakh tonnes during the April-October period of the current fiscal, from 6.58 lakh tonnes in the year-ago period.

 

Export of rapeseed meal rose sharply on account of a record crop and crushing that resulted in highest processing and availability of the commodity, it said.

 

Currently, India is the most competitive supplier of rapeseed meal to South Korea, Vietnam, Thailand and other Far East Countries at USD 295 per tonne FOB (freight on board), while rapeseed meal Hamburg ex-mill was quoted at USD 363 per tonne, it added.

 

Export of groundnut extraction too rose to 9,632 tonnes during April-October of this fiscal, from 1,390 tonnes in the year-ago period.

 

However, there was a decline in export of other oilmeal in the said period.

 

Exports of soyabean extraction remained lower at 1.62 lakh tonne during April-October period of the 2022-23 fiscal, as compared to 1.76 lakh tonnes in the year-ago period.

 

Similarly, export of rice bran extraction declined to 2.81 lakh tonnes from 4.01 lakh tonnes, while that of castorseed extraction shipments fell to 1.89 lakh tonnes from 1.96 lakh tonnes in the said period.

 

Major exporting destinations were South Korea, Vietnam, Thailand, Bangladesh and Taiwan.