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17 Nov, 2022 News Image

PM Modi, Chancellor Scholz Agree To Deepen India-Germany Trade Ties.

Prime Minister Narendra Modi and his German counterpart Olaf Scholz discussed a wide range of bilateral corporation between India and Germany at a bilateral meeting on the sidelines of the G20 Summit in Bali, Indonesia on Wednesday.

PM Modi and Chancellor Scholz also agreed to deepen cooperation in the area of trade and investment and further increase cooperation in the areas of defence and security, migration and mobility, and infrastructure, said the Ministry of External Affairs (MEA).

'The leaders discussed the wide range of bilateral cooperation between India and Germany, which entered a new phase with the signing of the Partnership on Green and Sustainable Development by them during the 6th India-Germany Inter-Governmental Consultations,' it said in a statement.

They also agreed to enhance cooperation and coordination in multilateral forums including G20 and the United Nations.

After the meeting, PM Modi posted a tweet in German along with photos of his meeting with Chancellor Scholz.

'Delighted to meet Chancellor Scholz. This is our third meeting this year and we built on the strong ground covered during the Inter Governmental Consultations held earlier. We discussed ways to boost economic ties, defence collaboration and other important issues' he tweeted.

It was the third meeting between PM Modi and his German counterpart this year. They first met during the prime minister’s visit to Berlin on May 2 for the 6th India-Germany IGC, which was followed by his visit to Schloss Elmau in Germany, as a partner country for the G7 Summit at Chancellor Scholz’s invitation.

During the meeting, PM Modi gifted an agate bowl manufactured in Kutch, Gujarat. The semi-precious stone formed of chalcedonic-silica is found in underground mines of Rajpipla and Ratanpur in riverbeds and extracted to produce a variety of ornamental objects. Agate can be seen in various contemporary designs as home decor objects as well as fashion jewellery. The healing powers attributed to agate stones have sustained the use of agate over centuries.

Source: newindian.in

17 Nov, 2022 News Image

India to start talks for new FTA next week: Piyush Goyal.

India will be launching negotiations for a free trade agreement (FTA) with a region next week, Commerce and Industry Minister Piyush Goyal said on Wednesday. He said that negotiations are going on with countries, including the UK, European Union, Canada and Israel.

'Next week, we will be launching one more very important FTA,' Goyal said here at a function of consumer electronics.

Though the minister did not disclose the name of the region, there is a likelihood that the talks may start with the Gulf Cooperation Council (GCC) as the region was keen to increase economic engagement with India.

GCC is a union of six countries in the Gulf region -- Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain.

India has already implemented a free trade pact with the UAE in May this year.

In a free trade agreement, two countries or regions either significantly reduce or eliminate customs duties on a maximum number of goods traded between them. Besides, they also ease norms to promote trade and investments.

Goyal said that the world sees huge opportunities in India and that is the reason for increasing engagement with India.

He also said that the country's economy may touch USD 30 trillion by 2047 and if things perform 'slightly better', it may touch USD 49 trillion.

Source: economictimes.indiatimes.com

17 Nov, 2022 News Image

MoFPI issues list of projects approved under Sampada Yojana.

The Ministry of Food Processing Industries (MoFPI) has issued an updated list of projects approved and sanctioned under the scheme of creation/expansion of food processing and preservation capacities under Pradhan Mantri Kisan Sampada Yojna.

A total of 317 units were approved wherein Maharashtra has the highest number of units approved, followed by Gujarat, Uttar Pradesh and Tamil Nadu.

A total of 41 units were approved in Maharashtra while Gujarat has 31 units approved, followed by Uttar Pradesh with 26 and Tamil Nadu with 24 units.

Among hill states, Himachal Pradesh has 22 approved units, followed by Assam with 21 units and Uttarakhand with 10 units.

The Central sector scheme of PM Kissan SAMPADA Yojna was introduced by the Union Government through MoFPI for development of food processing and allied sectors in the country aiming at creation of modern infrastructure with efficient supply chain management from farm to retail.

According to the MoFPI, the scheme focuses on mega parks, integrated cold chain, expansion of processing and preservation, agro processing clusters, backward & forward linkages, food safety and quality assurance, human resources and Operation Greens.

Source: fnbnews.com

17 Nov, 2022 News Image

Roundtable of Secretary, M/o Food Processing Industries with leading Agri-Food companies on the activities related to International Year of Millets & Mega Food Event 2023.

Under the dynamic leadership of Prime Minister Shri Narendra Modi, the Union Government has taken path-breaking measures towards becoming Aatma Nirbhar and promotion of Vocal for Local. The Ministry of Food Processing Industries has been following the pathway to drive the seamless growth of the food processing sector at full capacity.

Several steps have been taken such as Production Linked Incentive Scheme (PLIS), Pradhan Mantri Formalization of Micro Food Processing Enterprises Scheme (PMFME Scheme), Pradhan Mantri Kisan Sampada Yojana (PMKSY) to create modern infrastructure with efficient supply chain management, enhance manufacturing & exports, upgrade small & micro units in the informal sector which will create huge employment opportunities as well as boost farmers income.

The food and allied industry have also been witnessing new era of opportunities with various segments such as millets / nutri-cereals (super food of India), ready to eat / cook, frozen foods etc. as champion segments.

As The United Nations General Assembly has declared 2023 as the ‘International Year of Millets’, a series of events and initiatives are being organized by concerned Ministries / Departments to create awareness and inspire all stakeholders to work towards improving the production and productivity of the climate-resilient and nutritious millets across the globe.

As the Ministry of Food Processing Industries is uniquely placed amongst all stakeholders i.e., producers, food processors, equipment manufacturers, logistics players, cold chain players, technology providers, Start-up & innovators, food retailers etc., the Ministry has proposed to organize a mega food event with a focus on millets, for showcasing the myriad opportunities in millets processing & value-addition as well as opportunities available in other champion segments for all relevant stakeholders.

As a prelude to the same, Secretary, M/o FPI, Smt. Anita Praveen chaired a Roundtable Interaction with leading industry players in the Agri and food processing sector on 16th November 2022 at 10:30 am. The agenda of the roundtable was to apprise the Ministry’s plan of action as well as gather inputs of the industry players for the series of events to be organized throughout the year until the proposed Mega Food Event. The roundtable witnessed participation from NIFTEMS and over 25 prominent industry players in the Agri food sector covering sub-segments such as RTE/C, Millets, F&V, Marine, Dairy and Nutraceuticals.

During the keynote address, Secretary, FPI informed the industry participants that the event organized in 2023 is being envisaged on a larger scale and would be providing a platform to explore Indian market across the value chain in food processing and food retail.

Through this event, MoFPI is planning to popularize Nutri-cereals globally, owing to its health benefits. In lieu of the same, the industry members recommended organizing international and national campaigns, expos, food & culinary festivals and research collaboration with NIFTEMs on sustainability.

Source: pib.gov.in

16 Nov, 2022 News Image

G20 Summit: PM Modi to hold bilateral meetings with G20 leaders.

Prime Minister Narendra Modi will hold bilateral meetings with various G20 (Group of 20 countries) leaders during his official visit to Bali to participate in the 17th G20 Leaders' Summit, according to the press statement released by Prime Minister's Office.

Ahead of his official visit, PM Modi said, 'On the sidelines of the G20 Summit, I will meet with leaders of several other participating countries, and review the progress in India's bilateral relations with them.'

This G20 Summit is particularly special because India will hold the presidency of the G20 Summit from 1st December 2022 for a one-year period, and the presidency handover will take place during the Summit in Bali.

PM also said that he will have extensive discussions with other G20 leaders on key issues of global concern, such as reviving global growth, food & energy security, environment, health, and digital transformation, the statement reads.

He is all set to embark on his two-day official visit today for talks on key issues of global concern under the Summit theme of 'Recover Together, Recover Stronger'.

' In a significant moment for our country and citizens, President of Indonesia Joko Widodo will hand over the G20 Presidency to India at the closing ceremony of the Bali Summit. India will officially assume the G20 Presidency from 1st December 2022. I will also extend my personal invitation to G20 Members and other invitees to our G20 Summit next year,' according to the statement citing PM Modi.

PM Modi also said that during his interactions at the G20 Summit, he will highlight India's achievements, and our unwavering commitment to collectively address global challenges. India's G20 Presidency will be grounded in the theme 'Vasudhaiva Kutumbakam' or 'One Earth One Family One Future', which underlines the message of equitable growth and a shared future for all.

The Bali Summit, slated for November 15-16, comprises three working sessions at the leaders' level, in which PM Modi will be participating. These include sessions on food and energy security, a session on digital transformation, and a session on health.

In a special press briefing on Sunday, Foreign Secretary Vinay Kwatra said G20 deliberations have acquired a greater salience in the current global economic and political context.

He said that the world is currently struggling with many important challenges coming on top of the existing environmental challenges, lack of progress in the Sustainable Development Goals (SDGs) and the pandemic.

'These include uneven post-pandemic economic recovery, debt vulnerabilities especially in the countries of the global south, the ongoing conflict in Europe, and its knock-on effects, such as food security challenges, energy crisis and inflation on all countries of the world,' Kwatra said.

G20 leaders will discuss these challenges and underscore the importance of closer multilateral cooperation to help overcome these challenges. As the incoming presidency, India has always actively engaged in the past and during this presidency of Indonesia also with all the G20 countries and participants throughout this year.

'Our position has been of steadfast and strong support to Indonesia, which as the Presidency has shown strong leadership in ensuring that the G20 platform discusses issues of substantive interest to the world.

The G20 Summit program also includes a leaders' visit to what is called Bahasa Indonesia, Taman Hutan Raya, a mangrove forest in Bali, on November 16.

'As you know, mangroves are an important refuge of coastal biodiversity and act as bio shields against extreme climatic events and as important carbon sinks. India's own mangrove cover is significant, with one of the highest biodiversity in the world. We also recently agreed to join the Global Mangrove Alliance, which was launched jointly by Indonesia and UAE,' Kwatra said.

Source: timesofindia.indiatimes.com

16 Nov, 2022 News Image

India s Foreign Trade: October 2022.

India’s overall exports (Merchandise and Services combined) in October 2022* are estimated to be USD 58.36 Billion, exhibiting a positive growth of 4.03 per cent over the same period last year. Overall imports in October 2022* are estimated to be USD 73.00 Billion, exhibiting a positive growth of 11.82 per cent over the same period last year.

Table 1: Trade during October 2022*

		October 2022 (USD Billion)	October 2021 (USD Billion)
Merchandise	Exports	29.78	35.73
Merchandise	Imports	56.69	53.64
Services*	Exports	28.58	20.37
Services*	Imports	16.30	11.64
Overall Trade (Merchandise +Services) *	Exports	58.36	56.10
	Imports	73.00	65.28
	Trade Balance	-14.63	-9.18

* Note: The latest data for services sector released by RBI is for September 2022. The data for October 2022 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-October2021 and April-June 2022 has been revised on pro-rata basis using quarterly balance of payments data.

Fig 1: Overall Trade during October 2022*

India’s overall exports (Merchandise and Services combined) in April-October 2022* are estimated to be USD 444.74 Billion, exhibiting a positive growth of 19.56 per cent over the same period last year. Overall imports in April-October 2022* are estimated to be USD 543.26 Billion, exhibiting a positive growth of 33.80 per cent over the same period last year.

Table 2: Trade during April-October 2022*

		April-October 2022 (USD Billion)	April-October 2021 (USD Billion)
Merchandise	Exports	263.35	233.98
Merchandise	Imports	436.81	328.14
Services*	Exports	181.39	138.01
Services*	Imports	106.45	77.89
Overall Trade (Merchandise+ Services) *	Exports	444.74	371.98
	Imports	543.26	406.03
	Trade Balance	-98.52	-34.05

Fig 2: Overall Trade during April-October 2022*

MERCHANDISE TRADE

Merchandise exports in October 2022 were USD 29.78 Billion, as compared to USD 35.73 Billion in October 2021.

Merchandise imports in October 2022 were USD 56.69 Billion, as compared to USD 53.64 Billion in October 2021.

Fig 3: Merchandise Trade during October 2022

Merchandise exports for the period April-October 2022 were USD 263.35 Billion as against USD 233.98 Billion during the period April-October 2021.

Merchandise imports for the period April-October 2022 were USD 436.81 Billion as against USD 328.14 Billion during the period April-October 2021.

The merchandise trade deficit for April-October 2022 was estimated at USD 173.46 Billion as against USD 94.16 Billion in April-October 2021.

Fig 4: Merchandise Trade during April-October 2022

Non-petroleum and non-gems & jewellery exports in October 2022 were USD 21.72 Billion, compared to USD 26.15 Billion in October 2021.

Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 34.40 Billion, compared to USD 32.88 Billion in October 2021.

Table 3: Trade excluding Petroleum and Gems & Jewellery during October 2022

	October 2022 (USD Billion)	October 2021 (USD Billion)
Non- petroleum exports	25.03	30.37
Non- petroleum imports	40.84	41.36
Non-petroleum & Non Gems & Jewellery exports	21.72	26.15
Non-petroleum & Non Gems & Jewellery imports	34.40	32.88

Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

Fig 5: Trade excluding Petroleum and Gems & Jewellery during October 2022

Non-petroleum and non-gems & jewellery exports during April-October 2022 was USD 182.05 Billion, as compared to USD 176.52 Billion in April-October 2021.

Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 258.30 Billion in April-October 2022 as compared to USD 198.58 Billion in April-October 2021.

Table 4: Trade excluding Petroleum and Gems & Jewellery during April-October 2022

	April-October 2022 (USD Billion)	April-October 2021 (USD Billion)
Non- petroleum exports	206.00	200.04
Non- petroleum imports	305.82	246.33
Non-petroleum & Non Gems & Jewellery exports	182.05	176.52
Non-petroleum & Non Gems & Jewellery imports	258.30	198.58

Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-October 2022

SERVICES TRADE

The estimated value of services export for October 2022* is USD 28.58 Billion, as compared to USD 20.37 Billion in October 2021.

The estimated value of services import for October 2022* is USD 16.30 Billion as compared to USD 11.64 Billion in October 2021.

Fig 7: Services Trade during October 2022*

The estimated value of services export for April-October 2022* is USD 181.39 Billion as compared to USD 138.01 Billion in April-October 2021.

The estimated value of services imports for April-October 2022* is USD 106.45 as compared to USD 77.89 Billion in April-October 2021.

The services trade surplus for April-October 2022* is estimated at USD 74.93 Billion as against USD 60.12 Billion in April-October 2021.

Fig 8: Services Trade during April-October 2022*

Table 5: Export Growth in Commodity Groups in October 2022

Sl. No.	Commodities	(Values in Million USD)		% Change
Sl. No.	Commodities	OCT'21	OCT'22	OCT'22
	Commodity groups exhibiting positive growth
1	Oil seeds	84.26	149.98	78.00
2	Oil Meals	55.80	91.87	64.64
3	Electronic Goods	1347.00	1853.77	37.62
4	Tobacco	85.28	102.68	20.40
5	Tea	65.37	72.88	11.49
6	Rice	692.38	703.96	1.67
Sl. No.	Commodities	(Values in Million USD)		% Change
Sl. No.	Commodities	OCT'21	OCT'22	OCT'22
	Commodity Groups exhibiting negative growth
7	Iron Ore	78.73	7.83	-90.05
8	Handicrafts excl. hand made carpet	198.99	98.05	-50.73
9	Cotton Yarn/Fabs./made-ups, Handloom Products etc.	1335.97	719.03	-46.18
10	Jute Mfg. including Floor Covering	43.55	23.57	-45.88
11	Cashew	43.30	25.23	-41.73
12	Carpet	173.19	107.13	-38.14
13	Other cereals	62.23	44.53	-28.44
14	Plastic & Linoleum	782.88	580.53	-25.85
15	Man-made Yarn/Fabs./made-ups etc.	468.69	350.56	-25.20
16	Meat, dairy & poultry products	383.67	299.20	-22.02
17	Gems & Jewellery	4221.22	3311.27	-21.56
18	Engineering Goods	9401.21	7402.97	-21.26
19	RMG of all Textiles	1254.13	988.72	-21.16
20	Mica, Coal & Other Ores, Minerals including processed minerals	441.80	351.90	-20.35
21	Spices	333.22	268.11	-19.54
22	Organic & Inorganic Chemicals	2569.37	2146.88	-16.44
23	Petroleum Products	5355.77	4751.69	-11.28
24	Marine Products	807.77	720.32	-10.83
25	Ceramic products & glassware	284.47	256.84	-9.71
26	Drugs & Pharmaceuticals	2064.45	1873.73	-9.24
27	Cereal preparations & miscellaneous processed items	186.91	174.38	-6.70
28	Coffee	85.71	80.11	-6.53
29	Leather & leather products	370.68	349.03	-5.84
30	Fruits & Vegetables	225.88	222.50	-1.50

*Engineering goods exhibiting a fall of approx. USD 2 Billion includes steel and its products.

Table 6: Import Growth in Commodity Groups in October 2022

Sl. No.	Commodities	(Values in Million USD)		% Change
Sl. No.	Commodities	OCT'21	OCT'22	OCT'22
	Commodity Groups exhibiting positive growth
1	Cotton Raw & Waste	38.11	172.13	351.67
Source: pib.gov.in
16 Nov, 2022 State proposes pack house at Mopa to export veggies. To support Goa’s agricultural sector, the department has approached GMR Goa International Airports Limited (GGIAL) to set up a packaging-cum-sorting facility for agricultural produce. The agriculture department hopes to build an integrated pack house facility which can be used to export fresh fruits and vegetables by flight.Agriculture minister Ravi Naik said the state is making efforts to strengthen the agriculture logistics sector which can help reduce wastage and improve price discovery.'GMR officials assured us full cooperation to set up a pack house and we are in the process for planning for this at the new international airport,' said director for agriculture Nevil Alphonso.Alphonso and a team of officials from the department had a meeting with GGIAL officials to discuss the proposal. Lack of certified perishable pack houses and accredited testing labs in Goa hinder the export of vegetables and fruit not just from Goa but districts of neighbouring states as well.'Our government wants to lay stress on agriculture transport logistics. Produce must not get wasted, it must reach the market or the storehouse and if this happens, then the farmers will benefit,' said Naik. The agriculture department has also decided to create a digital marketplace. 'We have around seven markets and none of them are linked online. But we are in the process of converting them online under the National Agriculture Market or eNAM project,' said Alphonso. Source: goa.news
16 Nov, 2022 58.59 lakh metric tonne paddy procured: Haryana Dy CM Dushyant Chautala. Haryana's Deputy Chief Minister Dushyant Chautala on Tuesday said 58.59 lakh metric tonne paddy has been procured in the state during the current season, exceeding the target of 57 lakh MT. Chautala said that nearly 98 per cent of farmers have already received their paddy purchase payment amounting to Rs 11,819 crore directly into their bank accounts through DBT within 48 hours after the crop being procured and the balance will also be cleared this week. The deputy chief minister -- who also holds the charge of the Food, Civil Supplies and Consumer Affairs Department -- said although the target given by the Centre was 57 lakh metric tonnes of paddy procurement for the current season, the state government procured 58.59 lakh metric tonnes till November 14, a day before procurement process is completed. Chautala also said that GST collections in the state grew 22.71 per cent to Rs 18,290 crore so far against Rs 14,302 crore a year ago. 'If we compare consumption and production based-states, Haryana is at the number one spot. Only three states -- Sikkim, Goa and Delhi -- are ahead, of which Delhi is consumption based with a limited production,' he added. Likewise, healthy growth has also been registered in excise collections, said Chautala, who also holds the Excise portfolio. 'Haryana's excise year, which ends on June 7, we have registered a 23 per cent growth with collections so far of Rs 5,125 crore. We will cross the Rs 9,500 crore figure by end of the current fiscal,' he noted. Our distilleries are monitored by CCTVs, said Chautala. Fifty-five per cent of liquor vends have installed a Point-of-Sale system and by December the remaining have been ordered to install or else they will be penalised, he said. Source: economictimes.indiatimes.com
16 Nov, 2022 India-UK Free Trade Agreement expected to be closed by March 2023: Sources. India-UK Free Trade Agreement (FTA) is likely to be closed by March 2023, a commerce ministry source said on Tuesday. India and its former colonial ruler have been for about 18 months negotiating the pact to boost trade and investments between the countries. The aim was to conclude the talks by Diwali, but somehow got delayed. Whether these discussions will take place at the ministerial level or the secretarial level will soon be decided. As per the source, the two countries are expected to finalise the FTA by March 2023. Recently, Mayor of West Midlands Andy Street, a member of Britain's governing Conservative Party, said India should prioritise reducing tariffs on manufactured goods to benefit sectors like the automotive industry. According to a government source, 14 chapters out of the 26 chapters of the trade deal have been finalised, and the visiting UK delegation will aim to agree on the finer aspects of the rest of the chapters. Last month, Britain's new Prime Minister Rishi Sunak, the country's first leader of Indian descent, conveyed his hope of finalising the trade agreement during a call with his Indian counterpart Narendra Modi. Source: economictimes.indiatimes.com
16 Nov, 2022 ICAR-IIMR, MANAGE & African Delegation to Work Together for Millet Research & Production. Dr. Dayakar Rao B, Chief Executive Officer (CEO) of Nutrihub ICAR IIMR, had a meaningful discussion with the Delegation from Africa & MANAGE to extend the support for Millets on women entrepreneurship, research & development, seed development, post-harvest management, and machinery & marketing on Monday. The latter has been contributing significantly to promoting the millet ecosystem across all government and social platforms. The goal is to put an end to the micronutrient deficiencies, also called 'the hidden hunger'. To further advance research and promote varied, balanced, and healthy diets, millets are being integrated into PM POSHAN schemes in several states. It is also being produced and consumed sustainably in various feeding programmes. Nutrihub shared a clip of this meeting on its official Twitter handle, wherein members of Delegation from Africa & MANAGE can be seen having a discussion with Dr. Rao on existing possible partnerships to assess the feasibility of millet products or grains. Under the guidance of the Indian Council of Agricultural Research, the Indian Institute of Millets Research is the top institute in the nation and is at the forefront of encouraging excellence in the field of millets research and development (ICAR). The cooperation is a project to prepare for the International Year of Millets to be hosted by India's government in 2023. Dr Rao believes that once the staple diet of rural India, millets are today a superfood preferred by selected metropolitan customers. Millet, which is abundant in micronutrients, is well known as a treatment for a variety of illnesses that influence human health and lifestyle, and proper production and consumption of this superfood can ensure the wellness of the nation's population. For the not known, India's PM POSHNA scheme is the largest school feeding program in the world and presents a significant opportunity to address micronutrient deficiencies, enhance educational effectiveness, and create intergenerational opportunities, especially for girl students. Source: krishijagran.com
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