The Ministry of Food Processing Industries (MoFPI) has accorded approvals to various companies under Production Linked Incentive Scheme for Millet Based Products (PLISMBP) and Production Linked Incentive Scheme for Food Processing Industries (PLISFPI) for 'Organic Products'.

 

A total of 33 companies were given approval including eight large entities, 22 MSMEs and 3 organic product manufacturers.

 

The large entities include Nestle India Ltd, Tata Consumer Products Ltd, ITC Ltd, Hindustan Unilever Ltd, Marico Ltd, Mrs Bector's Food Speciality Ltd, Ravi Food Pvt Ltd and SWG Industries Ltd.

 

MoFPI had invited Expression of Interest (EoI)/ Proposals in June this year for availing sales based incentives under Production Linked Incentive Scheme for Millet Based Products from Large Entities and MSMEs.  

 

Applications were also invited for availing sales based incentives for organic products under Production Linked Incentive Scheme for Food Processing Industries from SME categories of applicants.

 

The three organic manufacturers include  Elite Green Pvt Ltd, LRM Spices Pvt Ltd and NB Laboratories Pvt Ltd.

 

The Government of India has approved the PLI scheme for Food Processing for implementation for the year 2021-22 to 2026-27 with a corpus of Rs 10,900 crore. The objective of the scheme was to support creation of global food manufacturing champions, and support Indian brands of value-added food products in the international markets.

 

Also, earlier this year MoFPI has issued specifications of millet content in the millet-based ready to cook/ ready to eat products under the Production Linked Incentives Scheme for Food Processing Industry. Millet products were divided into three categories.

 

The products include breakfast cereals having finger, pearl, foxtail, little, kodo, barnyard and sorghum millets, wherein the minimum incorporation level with individual millet was fixed at 25%, the second category includes pasta, noodles, spaghetti having finger, pearl, foxtail, little, kodo, and sorghum millet, wherein the minimum incorporation level with individual millets is fixed at 10% and other ready to cook/ eat products with 20% minimum incorporation level of individual millet.

Union Minister for Commerce and Industries, Consumer Affairs, Food, Public Distribution and Textiles Shri. Piyush Goyal attended as Chief Guest at the inagural of Indian Institute of Foreign Trade (IIFT), Kakinada Campus, in Andhra Pradesh today. Union Minister of Finace, Corporate Affairs Smt. Nirmala Sitaraman inagurated the IIFT Kakinada campus.

 

Union Minister Piyush Goyal, on this occasssion said that Union Finance Minister Smt. Nirmala Sitaraman paid special attention and initiative for the establishment of IIFT campus. The establishment of this new campus marks the beginning of a new chapter.

 

He further said that an expert management of human resources is necessary for Indian commerce to gain more international recognition in the future. These human resources will be made available through IIFT’s. 

 

With political stability, high competitiveness, collective efforts and developing economic system, India will become an economic force in the world to rekonwith. 

 

He also said that at present, the Indian economy is worth of 3.5 trillion US dollars. A developing country can be taken to the level of a developed country with integrated economic growth and collective efforts. With continuous efforts Indian economy will reach tenfold in the next 25 years, by 2047, when we mark the 100th year of independence. The development can be achieved by making available expert human resources to the maximum extent.

 

He mentioned that the actions and special allocation of budgets by the central government under the Atman Nirbhar Bharat makes country's economic system much stronger and enriched. , He also said that Andhra Pradesh is growing a lot in the fields of agriculture, fisheries etc, and the state of Andhrapradesh also have various special economic zones.

 

The minister has called for the promotion of local products, artisans, skilled weavers etc, as it is important to support them in every way.

 

The programme was attended by Members of Parliament, Smt. Vanga Geeta, Shri GVL Narasimha Rao, Shri P. Subhas Chadnrabose, Shri M. Bharat Ram, Andhra Pradesh Finance Minister Shri B. Rajendranath Reddy, Civil Supplies Minister, Shri K. Venkata Nageswara Rao, BC Welfare, I&PR and Cinematography Minister Shri Ch. Venugopala Krishna, R&B Minister Shri D. Raja and others.

Agricultural and Processed Food Products Export Development Authority (APEDA), Ministry of Commerce, Govt. of India facilitated the flag off of the first consignment of GI Tagged 'Kaipad Rice& its value-added products' from Kannur, Kerala to UAE virtually on 26th October 2022. 

 

The flag-off ceremony was organized under the direction of Dr. M Angamuthu IAS, Chairman, APEDA & under the chairmanship of Dr. Tarun Bajaj, Director, APEDA. The first consignment of Kaipad rice & its value-added products to UAE was jointly flagged off by APEDA in association with Dr. Ishita Roy IAS, Agriculture Production Commissioner, Govt of Kerala/ Vice-Chancellor of Kerala Agricultural University, Thrissur, and Sunjay Sudhir IFS, Ambassador of India to UAE.  Rajeev Arora, Second Secretary, Embassy of India, UAE; Representatives from Kerala Agricultural University, Thrissur; Fair Exports India Pvt Limited and Malabar Kaipad Farmers Society took part in the event. 

 

Ishita Roy IAS, Agriculture Production Commissioner, Govt of Kerala thanked APEDA for propelling agricultural exports from Kerala. She quoted that APEDA identifies & promotes distinct products from Kerala state in global markets which projects the uniqueness of the local products among the international diaspora. As stated by her, 40% of the food & commodity export basket from Kerala are agricultural products.

 

The government of Kerala has been providing vital support to APEDA for the identification of unique products and its production belts. APEDA has initiated export promotion drives in 14 districts with the aim to promote exports from Kerala in association with the Department of Agriculture Development & Farmers welfare of the state.  APEDA is in the process to sign MOU with Kerala Agricultural University, Thrissur for enhancing export-oriented production in Kerala.

 

Sunjay Sudhir IFS, Ambassador of India to UAE also complimented APEDA for the stellar role played in the promotion of GI products which is the nation’s pride. He has mentioned that India has always been a trusted partner of trade for UAE. GI tagged Kaipad rice & its value-added products like rice flakes, puttu flour & noolputtu flour are exported from Kannur, Kerala by Fair Exports India Pvt. Ltd to UAE. Fair Exports India Pvt. Ltd. belonging to the Lulu Group International is a leading exporter registered under APEDA.

 

India is the largest producer as well as the largest exporter of cereal products in the world. In the production of rice, India ranks 2nd in the world. According to the 4th advance estimates for the year 2021-22 by the Ministry of Agriculture of India, the production of rice stood at 130.29 million tonnes. In the fiscal year 2021–2022, India exported 12,872.64 USD million worth of cereals. Rice occupies the major share in India's total cereals export with 75% share during the same period. The country has exported 3,948,161.03 MT of Basmati Rice worth 3,540.40 US$ Mill and 17,262,235.10 MT of Non-Basmati Rice worth 6,124.27 USD Millions to the world during the year 2021-22. Bangladesh, Iran, Saudi Arabia, Nepal, Vietnam, and Benin are major export destinations of rice from India.

 

Rice is the staple food of Kerala. Kerala has the highest number of GI-tagged non-basmati rice among states of India. GI tag indicates the uniqueness of a product with respect to its geographical area of production. The GI-tagged non-basmati rice of Kerala includes Palakkadan matta, Navara rice, Kaipad rice, Pokkali rice, Wayanadan Jeerakasala rice and Wayanadan Gandhakasala rice. Non-basmati rice of 71,551.66 MT worth 40.17 million USD was exported from Kerala to the world in 2021-22 and Kerala ranks 11th among states of India in the export of non-basmati rice. The major export destinations of non-basmati rice from Kerala include UAE, Oman, Saudi Arabia, Qatar, Kuwait, Baharain, Benin etc.

 

Kaipad rice is naturally organic red rice produced in the saline-prone coastal rice tract in Kozhikode, Kannur, and Kasargod districts of Kerala. The Kaipad system of rice cultivation is an integrated organic farming system in which rice cultivation and aquaculture coexist in coastal brackish water marshes which is rich in organic matter. Kaipad rice received GI tag in 2014 due to its peculiarities. Neither chemical/organic fertilizers nor plant protection chemicals are used in rice tracts as there is no pest and disease incidence. Kaipad rice has excellent cooking qualities and the cooked rice is very tasty. The nutritive value of Kaipad rice is enormous with good content of iron, calcium and potassium. The medicinal value of Kaipad rice makes it a suitable meal during illness for a speedy recovery.

 

Rice flakes of Kaipad rice contain bran of rice unlike milled rice, thus the nutritive value of rice flakes available at Kaipad tract which is naturally an organic tract is imperative. Kaipad rice & its value-added products like rice flakes, puttu flour & noolputtu flour are being exported for the first time from Kerala to UAE sourced from a farmer producer organisation (FPO) of Kerala named Malabar Kaipad Farmers Society based in Kannur.

Onion production during the 2021-22 crop year has been pegged at a record high of 31.27 million tonnes (mt), though it is lower than the second advance estimate of 31.7 mt, the Ministry of Agriculture said in a statement today. 

 

The record output comes on the heels of a record 1.94 million hectares (mh) being brought under the bulb during the crop year that ended in June. Farmers felt encouraged to plant onions last year after two years of good returns. 

 

In 2019 and 2020, onion prices ruled high with retail prices topping Rs.100 a kg farmers planted onion on 1.91 mh in 2020 and improved it further to 1.94 mh in 2021. In 2019 and 2020, onion prices soared after the crop was affected by unseasonal rains during October-December. 

 

Prices slump

However, the high production has resulted in onion prices plunging to a five-year low last month with exports being affected due to slack demand. 

 

Currently, the weighted average price of onion in Maharashtra, the primary source of the vegetable for the country, is Rs.1,868 a quintal against Rs.2,321 during the same period a year ago. 

 

The statement said potato production last season declined to 53.39 mt from 56.17 mt the previous year — a 4.5 per cent drop. It is lower than the second advance estimate of 53.60 mt. 

 

Bengal factor

Last year, the potato crop was affected by rains in Bengal resulting in a lower production of the spud. The ministry lowered the area under the crop marginally to 2 mh from 2.21 mh. 

 

The lower production has resulted in potato prices increasing. The national weighted average price of the spud, currently, is Rs.1,863 a quintal with the price in West Bengal ruling at Rs.2,174. During the same period a year ago, the weighted average price was Rs.1,223 and Rs.1,442 respectively. 

 

The output of tomato, the other key crop under the Centre’s focus apart from potato and onion, dropped four per cent to 20.33 mt against 21.18 mt the previous year. This is a tad higher than the 20.30 mt projected in the second advance estimate.

 

A drop in the acreage of tomatoes also pulled down the production. The Agriculture Ministry pegged the area under the crop at 8.41 lakh hectares against 8.45 in 2020-21. In the second advance estimated, it had projected the area at 8.3 lakh hectares. 

 

Veg, fruits estimate

Currently, the weighted average price of tomato is Rs.1,874 a quintal with prices in West Bengal and Tripura being the highest at over Rs.5,000. The vegetable’s price was Rs.2,428 with prices ruling higher than other States in Bengal, Odisha and Tripura.

 

The Ministry said the total horticulture production is estimated to be  342.33 mt in 2021-22, another record high. It is up by about 7.73 mt or 2.3 per cent year-on-year.  

 

Overall, the output of vegetables is estimated to be 204.84 mt against 200.45 mt in 2020-21, while that of fruits is projected at 107.24 mt compared with 102.48 mt.

India is in talks with about a dozen smaller countries as the government seeks to expand bilateral trades through bespoke rupee accounts and internationalise indigenous payment modes. The object is to bypass the dollar-denominated trades through baby steps and creating an alternative payment ecosystem other than the global SWIFT platform.

 

They include African countries such as Djibouti, Zimbabwe, Malawi, Ethiopia and Sudan, said people familiar with the matter.

 

The Reserve Bank of India (RBI), finance ministry and National Payment Corp. of India (NPCI) did not comment on the matter. The Indian Economic Trade Organization (IETO) and NPCI are primarily engaged in such cross-border dialogue before it reaches the regulators. For example, IETO held a meeting of all Common Market for Eastern and Southern Africa (Comesa) ambassadors in Hyderabad last week. Senior ministry of external affairs and Telangana government officials were present. Madagascar also participated.

 

'We are engaging with a group of smaller countries which may be interested in bilateral trades via dedicated rupee account,' said Asif Iqbal, president, IETO. 'We are helping to kickstart bilateral talks after which we will make a pitch for the UPI payment system involving NPCI. Such baby steps will help the rupee gain international clout gradually through non-dollar bilateral trades.'

 

The Unified Payments Interface (UPI) developed by NPCI is the country's flagship payment system and has earned accolades across the world.

 

Cereals, sugar and plastic products are part of the country's trade with Djibouti. Such transactions, if routed through any dedicated rupee account, can be settled in local currencies. Djibouti's franc is equal to about half a rupee.

 

Similarly, trade with Ethiopia, Namibia, Cuba and Kenya could be directly settled in Indian rupees against birrs, Namibian dollars, pesos and shillings, respectively.

 

The RBI and NPCI will be involved in sorting out the exchange rate and payment technicalities once strategic partnerships between countries are agreed upon.

 

To be sure, current trade volumes are insignificant with these smaller countries when compared with giants such as the US, UK or even Russia. But it would mark a start and grow to become potentially significant with the addition of more countries.

 

Sudan, which imports pharmaceutical products and confectionery among other items, could settle payments directly in rupees against its pound. While the payment settlement mechanism with Bangladesh is being fast tracked, it has likely slipped into the slow lane with Sri Lanka due to the turmoil there.

 

India trades in multiple items including food, oil seeds and garments with Bangladesh. However, payment settlement between rupees and the Bangladeshi taka may be capped at Rs 5 lakh amid apprehensions of possible misuse.

 

Alongside, the Indian authorities are also pushing for wider acceptance of the homegrown Rupay card so that it gains global recognition.

Union Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal asked India’s business community to give primacy to products that are made in India. He was addressing the All India Vaishya Federation (AIYF) in Hyderabad.

 

The Minister emphasized the need to promote industry and manufacturing in India and said that this would help boost employment and bring in prosperity to the lives of our citizens. Endorsing PM Modi’s call to the travellers and tourists to spend at least 5 percent of their travel budget on locally made products, the Minister said that our talented artisans, craftsmen and entrepreneurs deserve to be supported and promoted. 

 

Shri Goyal pointed out that in the last 30 years, India’s GDP had grown by 11.8 times. He reminisced that there was a time when a large section of the population was focussed upon securing the very basic necessities of life such as food, clothing and shelter. He observed that the situation has improved tremendously now due to the government’s extensive focus on structural reforms that make sure that people were freed from the constant struggle for the necessities of life. 

 

He went on to say that the reform that was closest to his heart was the governments success in building over 12 crore toilets, taking safe sanitation, a very basic necessity, to every household in the nation. 'It was not just a matter of toilets but that of dignity and self-respect, especially for our women,' he stressed. 

 

The Minister said that the government had ensured food security to nearly 80 crore citizens by supplying food grains under the National Food Security Act (NFSA) and additional 5 kilo food grains per person per month. He said that it should be a matter of gratification to tax payers that their money was being used well to help those in real need. 50 Crore people are now being given free, quality healthcare, clean drinking water is now taken to every household through taps under the Jal Jivan Mission, he noted. 

 

He referred to all these initiatives as the foundational work to ensure that our population, especially our youth are freed up to take up activities that spearhead growth and development, thereby helping us reap our incredible demographic dividend. 'Our youth is now free from struggles for necessities and is highly aspirational. They aspire to become innovators and entrepreneurs and drive growth', he added. 

 

The Minister spoke of the need to secure the basic necessities of women, especially that of menstrual hygiene. Expressing concern over girl children dropping out of schools on attaining puberty, the Minister stressed that the government was providing sanitary napkins at very low prices. He called for more awareness programs to educate women about various aspects of menstrual hygiene to protect and empower them. The Minister asked AIVF to strive to ensure that in the next one year every single woman in the nation had awareness and access to sanitary pads. 

 

The Minister stressed that India was ready to take decisive steps towards becoming a developed nation, a vishwaguru. He expressed confidence that India’s huge youth population had the capability to drive this quest forward. 'India is the sole bright spot in the world today. The world is looking towards India with great hope', he added. He noted that developed nations were now aspiring to enter into FTAs with India and said that the fastest FTA in the world was concluded between India and UAE in just 88 days. He added that the rest of the GCC nations were also gearing up to sign FTAs with India. 

 

The Minister spoke of the Prime Minister’s stress on the need to go back to our roots and said that India’s history, its culture, traditions and value systems, had great strength in them. He asked to bring an end to social discrimination and said that divisive tendencies have no place in New India. The Minister referred to the ‘panch pran’ given by Prime Minister Shri Narendra Modi and said that the pran of unity and oneness formed an integral part of the panch pran. He said that if India was to truly realize its immense potential, it was essential that the whole nation worked together with oneness and unity. 

 

He expressed confidence that if the whole nation worked together as one, our children would learn of our efforts through their history books rather than the glory days of kings, Nizams and colonialism. 

India is likely to start next month negotiations with the Gulf Cooperation Council for a free trade agreement that will not only boost economic ties between the regions but also be a shot in the arm for New Delhi's ambition to significantly shore up its share in global exports.

 

'Terms of reference for the agreement are being finalised and we expect to launch the negotiations next month,' an official told PTI.

 

GCC is a union of six countries in the Gulf region that includes Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain. In May, India had implemented a free trade agreement with the UAE.

 

This comes as New Delhi and the United Kingdom missed the Diwali deadline to conclude their FTA talks. The prime ministers of both nations are set to resume talks and agreed on the need for early conclusion. Political changes in the UK and British home secretary Suella Braverman's recent remarks on Indians being the largest group of people overstaying in the UK were seen to be major hurdles in concluding a deal, according to officials.

 

Experts believe, the GCC region holds huge trade potential and a trade pact will help in further boosting India's exports to that market.

 

'GCC is a major import dependent region. We can increase our exports of food items, clothing and several other goods. Duty concessions under a trade agreement will help in tapping that market. It will be a win-win situation for both sides,' said Rakesh Mohan Joshi, Director, Indian Institute of Plantation Management, Bangalore.

 

India targets to ramp up exports of goods and services to $2 trillion by 2030 and also eyes to raise the share of its exports in global trade to 3% by 2027 and 10% by 2047 from the current 2.1%, promoting hundred Indian brands as global champions.

 

Bilateral trade between the regions increased to $154.73 billion in 2021-22 from $87.4 billion a year earlier.

 

India's exports to the GCC increased by 58.26 per cent to about $44 billion in 2021-22 against $27.8 billion in 2020-21, according to data of the commerce ministry.

 

The share of these six countries in India's total exports has risen to 10.4 per cent in 2021-22 from 9.51 per cent in 2020-21. Similarly, imports rose by 85.8 per cent to $110.73 billion compared to $59.6 billion in 2020-21, according to commerce ministry data.

 

The share of GCC members in India's total imports rose to 18 per cent in 2021-22 from 15.5 per cent in 2020-21.

 

India mostly buys crude oil and natural gas from the Gulf nations such as Saudi Arabia and Qatar, and exports pearls, precious and semi-precious stones; metals; imitation jewellery; electrical machinery; iron and steel; and chemicals to these countries.

 

Mumbai-based exporter and founder chairman of Techno-craft Industries India, Sharad Kumar Saraf said the GCC has emerged as a major trading partner for India and there is huge potential for increasing investments between the two regions.

 

'FTA will have a major benefit for both the sides,' Saraf said.

 

Federation of Indian Exports Organisation (FIEO) Vice Chairman Khalid Khan said sectors like chemicals, textiles, gems and jewellery and leather will get a major impetus by this agreement.

 

Saudi Arabia was India's fourth-largest trading partner last fiscal. From Qatar, India imports 8.5 million tonnes a year of LNG and exports products ranging from cereals to meat, fish, chemicals, and plastics.

 

Kuwait was the 27th largest trading partner of India in the last fiscal, while the UAE was the third-largest trading partner in 2021-22.

India on Friday flagged to the UAE some of the issues faced by its agriculture sector, including problems faced by rice exporters, during a meeting here. S Vikramjit Singh, MP, Chair, India-Arab Council, and Member of the India-UAE Joint Task Force, met Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of UAE and discussed various areas of bilateral cooperation.

 

Singh said that trade with the UAE would take new dimensions with two major bilateral agreements already in place. He also flagged issues faced by the Indian agriculture exporters to the Gulf nation.

 

'Major discussions took place between both sides regarding trade between India and the UAE after the conclusion of the Comprehensive Economic Partnership Agreement (CEPA) and the Free Trade Agreement (FTA),' Singh said in a statement.

 

Singh, a member of the India-UAE Joint Task Force, flagged the key issues faced by the agriculture sector regarding the rejection of rice exports from India due to the presence of pesticide residue.

 

'He emphasised on having accredited labs of mutually-acceptable standards together with fast-track approval for Pharma products from India,' said the statement.

 

Singh also requested the minister to reduce the minimum threshold for investment, for 100 per cent ownership in health and other sectors, which is currently pegged at AED 100 million.

 

Singh requested the minister for early conclusion of the UAE-India Bilateral Investment Treaty, to streamline the working of India and UAE joint ventures, the statement said.

 

'Minister of State for Foreign Trade of the UAE expressed his satisfaction on deeper engagement with India in trade and investment and assured UAE's investment in India,' it said.

 

Singh also stressed on bilateral trade and the key areas between Punjab and the UAE. On behalf of Punjab's Chief Minister, Singh also discussed investment in the infrastructure sector, basmati export and agri-processing sectors by the UAE in Punjab.

 

Exports of major agriculture and processed products, promoted by Agricultural and Processed Food Products Export Development Authority (APEDA), have jumped by a quarter to $13.77 billion (Rs.1,07,942 crore) during H1 FY23 from $11.06 billion year-ago. Exceeding the target, APEDA products had registered record $25,6 billion in FY22.

 

There has been an impressive over 100 per cent jump in export value in wheat, pulses, and milled products, while guar gum and poultry products have registered more than 80 per cent growth.

 

'APEDA will focus on value-added and processed food products where our potential is definitely very high. Special thrust will be given on millet-based products, which have higher value than raw grains, particularly among health-conscious population,’ said M Angamuthu, chairman, APEDA.

 

Plans to hold 17 major events abroad to promote the nutri-cereals

 

'We will also encourage exporters to source their products directly from farmer producers’ organisations (FPOs), besides focussing on improving quality of food products,' Angamuthu added.

 

APEDA has been given a mandate for the promotion of all agri products, broadly divided under 27 categories, except tea, coffee, spices, and marine products. APEDA has a share of over 50 per cent in the entire export in agriculture and allied sector valued at $50.21 billion during 2021-22.

 

 

Even as the government banned wheat export from May 13, its export has registered 136 per cent growth at $1.49 billion during H1 of the current fiscal from $0.63 billion in the corresponding period last year. Other cereals, including maize (rice, wheat excluded) grew by 12 per cent to $ 525 million from $ 467 million.

 

The Government had permitted shipments of wheat for the quantity for which exporters had already received LCs (letters of credit) before the ban date.

 

Rice exports

Export of rice (both basmati and non-basmati) increased 19 per cent to $5.5 billion from $4.6 billion. The non-Basmati rice has grown a modest 8 per cent to $3.21 billion from $2.97 billion, but basmati export has surged 37 per cent to $2.28 billion from $1.66 billion, thanks to an increased global demand.

 

There has been a decline in price realisation in non-Basmati rice export to $358/tonne in H1 FY23 from $361/tonne in the year-ago period. On the other hand, the realisation in Basmati rice has increased to $ 1,057/tonne from $853/tonne.

 

'The concerted efforts of APEDA in addressing exporters’ problems, particularly post-Covid, has provided the needed thrust to augment exports. It is inevitable to mention that APEDA was more focused on the export promotion of Basmati rice, non-Basmati rice, and meat in the last two decades. But in recent times, APEDA has been aggressively promoting neglected products and also conducting state and district level export initiatives,' said S Chandrasekaran, a trade policy analyst.

 

Export of buffalo meat, which has a 12 per cent share in APEDA basket, has increased 2.7 per cent to $1.64 billion from $1.59 billion. Pulses shipments have fetched $ 330 million as against $135 million and processed fruits and vegetables have registered 19 per cent growth to $695 million as against $584 million year-ago.

 

Guar gum export, which had a record $3.92 billion in the entire FY13, has registered 92 per cent growth at $344 million in H1 of current fiscal as against $179 million in the corresponding period of last year.

India is considering resuming purchases of Russian wheat with the aim of processing and re-exporting it, the TASS news agency reported.

 

This is reportedly seen as a way for India to increase its own exports, RT reported.

 

New Delhi previously bought wheat from Ukraine, Russia, and Australia but has currently stopped importing grain, according to the source. The decision to halt the purchases was said to have nothing to do with the ongoing military conflict.

 

'Starting from 2018, India launched a state programme on boosting national exports and sharply limited agricultural imports in order to support domestic producers,' the source told Tass, adding that since then his country had completely stopped the imports of wheat and yellow peas.

 

Instead, India is reportedly looking to establish joint ventures in the country to process Russian wheat into flour and other goods, such as pasta, and resell them to the neighbouring countries. It may also import goods manufactured in Russia that are ordered by Indian retailers, according to the outlet.

 

The source told the agency that in the financial year of 2017-2018, overall volumes of wheat imported by India were worth $364.5 million. Russia’s share of that came in at $86.87 million, while Ukraine and Australia accounted for a respective $148.93 million and $125.63 million.