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06 Sep, 2022 News Image

FTAs with U.K., Canada to be sealed in 2022 .

India’s free trade pact negotiations with the United Kingdom are ‘within touching distance’ of a deal and a similar deal along with a Bilateral Investment Treaty with Canada is expected to be concluded by December, its top trade official said on Saturday.

Exuding confidence about achieving record high exports of $750 billion in 2022-23 despite global headwinds, Commerce Secretary B.V.R. Subrahmanyam said that the government is readying a new Foreign Trade Policy which will be unveiled on September 30 as part of a package to propel goods exports that dipped sequentially for the third successive month in August.

'We are going to probably clinch the FTA with the United Kingdom by the end of this month itself. They don’t have a full-time Prime Minister and somebody will be in place by Monday or Tuesday. Once that is done, we are going to see a $10-15 billion uptick from there,' he said.

'There is a global demand to move out of China and one of the reasons why countries are running to do Free Trade Agreements (FTAs) with India and have become more flexible, is to reduce their own dependence on China,' Mr. Subrahmanyam said.

'In 18 of 20 top product groups Australia imports, China has 50% to 80% market share. That’s the kind of dependence… no wonder they want to sign an FTA with us,' he pointed out, adding the same issue plagues Europe and the U.K. which are looking to diversify.

'That’s why we are pushing for these FTAs which are an important part of our trade strategy. FTAs will open new markets and market access is our goal,' he underlined, adding that the second round of talks with the EU were slated to begin soon.

While textiles exports are facing stress, the Australian FTA, which has already been put up to its Parliament and should get passed in a month’s time, would hopefully boost shipments, the Commerce Secretary noted. Jewellery exports to the UAE had already risen 50% in the first two months of an FTA, he pointed out.

Source: thehindu.com

06 Sep, 2022 News Image

Jaishankar appreciates Iranian envoy s contribution toward building India-Iran ties.

External Affairs Minister S Jaishankar on Monday met Iranian Ambassador to India Ali Chegeni on completion of his tenure and appreciated his contribution to building India-Iran ties.

'Pleased to receive Ambassador of Iran Dr. Ali Chegeni on the completion of his tenure. Appreciate his enthusiasm and contribution towards building our bilateral relationship,' Jaishankar tweeted.

India-Iran commercial ties were traditionally dominated by the Indian import of Iranian crude oil. In 2018-19 India imported USD 12.11 billion worth of crude oil from Iran.

However, following the end of the Significant Reduction Exemption (SRE) period on 2 May 2019, India has suspended importing crude from Iran. The bilateral trade during 2019-20 was USD 4.77 billion, a decrease of 71.99 per cent as compared to the trade of USD 17.03 billion from 2018-19.

What is significant is that Indian exports to Iran between 2011-12 and 2019-20 have grown by 45.60 per cent. India’s major exports to Iran include rice, tea, sugar, soya, medicines/pharmaceuticals, man-made staple fibres, electrical machinery, etc.

Major imports from Iran include inorganic/organic chemicals, fertilizers, cement clinkers, fruits and nuts, leather, etc. Both countries are negotiating a Preferential Trade Agreement, on which five rounds of talks on have been held so far.

India is developing the 1st Phase of Shahid Beheshti Port at Chabahar. The capacity of the port will reach 8.5 MT at the end of the first phase. During the visit of Prime Minister Narendra Modi to Tehran in May 2016, the contract on the Shahid Beheshti port of Chabahar was signed which, inter-alia, comprises an investment of $85 million for procuring equipment for the port.

Source: theprint.in

06 Sep, 2022 News Image

MoS Smt. Anupriya Patel lays foundation stone of 'Chunar Logistics Park' in Mirzapur, UP.

Minister of State (MoS) for Commerce & Industry, Smt. Anupriya Patel today said 'Chunar Logistics Park' will pave the way for development of the people of Chunar and surrounding areas. She was addressing the foundation stone laying ceremony for 'Chunar Logistics Park' in Mirzapur, UP. Shri Ashwini Vaishnaw, Minister of Railways, Communications and Electronics & Information Technology virtually attended the event as a Chief Guest.

At the outset Smt. Patel thanked Minister of Railways, Shri Ashwini Vaishnaw for taking keen interest and providing continuous cooperation of the Ministry of Railways in facilitating the setting up of Logistics Park.

Noting that the carpet and handicraft industries of Chunar, Mirzapur and surrounding areas are not only nationally renowned, but also internationally recognized for their uniqueness and quality, Smt Patel emphasized that the state-of-the art 'Chunar Logistics Park' will cater to the long felt needs of local exporters, importers and traders for their export, import and domestic trade requirements.

Stating that the Project will meet the business needs of Eastern UP and adjoining areas, the Minister said all necessary facilities and assistance will be provided to exporters and importers to promote exports and imports under various schemes of the Government.

The Minister emphasized that the setting up of Logistics Park will also lead to a significant increase in employment generation. It will also play an important role in promoting rail freight transportation and reduce logistics cost and transit time, thereby giving a fillip to the local carpet and handicrafts industry.

Smt Patel informed that initially under this project, a facility for around 400 containers will be developed and 2000 square mtr Godowns will be provided for storage and handling of cargo. The facility will also include round the clock security, CCTV cameras, state-of-the-art container handling equipment. She added that based on the requirement of trade and industry and keeping in view the commercial viability, the services in the Logistics Park will be expanded in a phased manner.

Minister expressed confidence that the 'Chunar Logistics Park' will surely prove to be a milestone in accelerating the pace of development of Chunar and nearby region.

Source: pib.gov.in

05 Sep, 2022 News Image

Revving exports to America keeps India in race to be next China.

India, believed by many to have the potential to become the next China, is finally making headway in the exports market as it broke into the top 5 suppliers of Christmas decorative items and t-shirts to the US.

Sea-borne shipments of festival goods and accessories to America touched $20 million last month, almost triple the value from the year-ago period, according to US customs data. In the process, India gained a clear lead over the Philippines as buyers diversify supply sources in the face of rising labor costs and disruptions from China’s strict Covid-zero policy.

One such beneficiary of the early Christmas present is Amit Malhotra, whose Asian Handicrafts Pvt. supplies decoration items to global brands such as Walt Disney Co., London’s Harrods, Target Corp. and Dillard’s Inc. He confirmed a 20% jump in orders compared to a year ago, and that he has bumped up production capacity.

'This year we have shipped over 3.2 million units of Christmas decoration, up from 2.5 million last year,' said Malhotra, director at Asian Handicrafts. 'Though China exports a significant share of Christmas decoration items, many first-time buyers have been approaching us now,' he said.

The trend isn’t limited to Christmas goods. Exporters in Asia’s third-largest economy have been witnessing a significant increase in orders from both the US and Europe, with the shift mostly seen in low-cost, labor-intensive sectors such as apparel, handicrafts and non-electronic consumer goods. While diversification of supply chains began with the US-China trade war in 2018, India hadn’t seen any meaningful gains back then as countries such as Vietnam cornered the bulk of orders that were moving away from Beijing.

The pandemic, which saw China adopt strict lockdowns, is helping change that. India’s goods exports, which touched $420 billion in the fiscal year ended March, have already reached close to half that level in the five months beginning April. While that’s hardly worthy of comparison to China’s annual $3.36 trillion of exports, analysts view it as a good starting point for the sub-continent’s largest economy, which is currently growing at the world’s quickest pace.

'Taiwan, the EU, the US, Japan -- all are willing to give India a second look,' said Alex Capri, a research fellow at Hinrich Foundation, set up by US entrepreneur Merle Hinrich to promote sustainable global trade.

Indian government data showed Christmas decoration exports in the year ended March increased more than 54% from fiscal year 2020 levels, while handicraft exports witnessed a jump of around 32% during the same period.

China’s continued decoupling from the global economy along with post-pandemic recovery presenting an opportunity for India to accelerate its investment in longer-term competitiveness and prioritize ‘winnable’ sectors, Siddharth Jain, a partner in the operations and performance practice at Kearney, said. By 2030, India is projected to have the world’s most abundant labor force, and could contribute over $500 billion annually to the global economy, according to a report by Kearney and the World Economic Forum.

'We have started to see green-shoots of this with India’s exports in FY22 reaching around $420 billion, far higher than earlier years,' Jain said. 'This was driven by a combination of external as well as internal factors.'

India also managed to surpass El Salvador to become one of the top 5 suppliers of cotton t-shirts to the US this year.

The apparels sector, where India competes with nations like Bangladesh, saw an up-tick owing to multiple factors including a ban of all cotton products from China’s Xinjiang region over alleged ill-treatment of its ethnic Uighur Muslim minority, said Gautam Nair, managing director at Matrix Clothing Pvt., a medium-sized garment export firm. 'The surge also further accentuated due to huge boom in buyers’ purchase and supply chain diversification.'

Medium- and large-export firms saw a jump of 30%-40% in their order books last fiscal year and the upswing would be more visible in the current financial year ending March 2023, Nair said. Matrix Clothing, which exports apparels to global brands including Superdry, Ralph Lauren, Timberland, and Napapijri, has seen orders climb by 45% last fiscal year compared to the pre-covid year.

Still, there are hurdles to the growth of low-value added manufacturing in the form of non-labor costs, warn analysts.

'The bigger problems are the legacy issues of contract enforcements, tax transparency etc.,' said Priyanka Kishore, an economist at Oxford Economics. 'These do pose a challenge to India’s manufacturing ambitions and need to be addressed for the country to fully tap its potential as a manufacturing hub.'

Source: economictimes.indiatimes.com

05 Sep, 2022 News Image

India s merchandise export in April -August 2022-23 was USD 192.59 billion with an increase of 17.1% over USD 164.44 billion in April -August 2021-22.

India has achieved merchandise export of USD 33.0 billion in August 2022, almost at similar levels of USD 33.38 billion in August 2021.

Value of non-petroleum exports in August 2022 was 28.09 USD billion, registering a negative growth of only 2.22% over non-petroleum exports of USD 28.73 billion in August 2021. The value of non-petroleum exports in April -August 2022-23 was USD 152.29 billion, an increase of 7.97% over USD 141.05 billion in April -August 2021-22.

Value of non-petroleum and non-gems and jewellery exports in August 2022 was USD 24.8 billion, registering a negative growth of 1.96% over non-petroleum and non-gems and jewellery exports of USD 25.29 billion in August 2021. The cumulative value of non-petroleum and non-gems and jewellery exports in April -August 2022-23was USD 135.49 billion, an increase of 8.4% over cumulative value of non-petroleum and non-gems and jewellery exports of USD 124.99 billion in April -August 2021-22.

Amongst the major products, exports of Electronic goods (50.68%) , Rice (42.32%), Organic and Inorganic chemicals (13.35%) registered impressive growth during August 2022.

India’s merchandise import in August 2022 was USD 61.68 billion, an increase of 36.78% over USD 45.09 billion in August 2021. India’s merchandise imports in April -August 2022-23 was USD 317.81 billion with an increase of 45.64% over USD 218.22 billion in April -August 2021-22.

Value of non-petroleum imports was USD 44.07 billion in August 2022 with a positive growth of 23.63% over non-petroleum imports of USD 35.65 billion in August 2021.The cumulative value of non-petroleum imports in April -August 2022-23was USD 218.44 billion, showing an increase of 32.02% compared to non-oil imports of USD 165.46 billion in April -August 2021-22.

Value of non-oil, non-GJ (gold, silver & Precious metals) imports was USD 37.46 billion in August 2022 with a positive growth of 40.37%over non-oil and non-GJ imports of USD 26.69 billion in August 2021.Non-oil, non-GJ (Gold, Silver & Precious Metals) imports in April -August 2022-23 was USD 184.98 billion, recording a positive growth of 37.59%, as compared to non-oil and non-GJ imports of USD 134.44 billion in April -August 2021-22.

The import surge reflects the strong demand of the domestic economy due to robust growth and strong fundamentals of the Indian economy. In value terms, the surge in imports is due to a combination of quantity and price factors. High increase in import values in August 2022 have been witnessed in the following major commodity groups Coal, Coke & Briquettes, etc.(133.64%), Petroleum, Crude & products (86.44%), Organic & Inorganic Chemicals (42.73%), Vegetable Oil (41.55%)

Statement1:India’sTotal Trade in Merchandise goods in August 2022
	Value in Billion USD		%Growth
	AUGUST'22	AUGUST'21	AUGUST'22vsAUGUST'21
Exports	33.00	33.38	-1.15
Imports	61.68	45.09	36.78
Deficit	28.68	11.71	-

Statement 2: India’s Total Trade in Merchandise goods in April-August 2022-23
	Value in Billion USD		% Growth
	APR’22-AUGUST'22	APR’21-AUGUST'21	APR-AUGUST 2022-23 vs APR-AUGUST 2021-22
Exports	192.59	164.44	17.12
Imports	317.81	218.22	45.64
Deficit	125.22	53.78	-

Statement 3: Merchandise Non-POL Trade in August 2022
	Value in Billion USD	pib.gov.in
	05 Sep, 2022 Shri Piyush Goyal to visit San Francisco and Los Angeles from 5-10 September to attend the first ever in-person Ministerial meeting of the Indo-Pacific Economic Framework (IPEF). The Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal will visit San Francisco and Los Angeles in the United States of America from 5th to 10th September 2022 to attend the India-US Strategic Partnership Forum conference and Indo-Pacific Economic Framework (IPEF) Ministerial meeting. He will also interact with eminent business persons, US officials and industry leaders during the visit to fortify the partnership between the two nations and strengthen trade and economic ties. India and the United States (US) enjoy a comprehensive global strategic partnership covering almost all areas of human endeavor, driven by shared democratic values, convergence of interests on a range of issues, and vibrant people-to-people contacts. Regular exchanges at the leadership-level have been an integral element of the expanding bilateral engagement. The outcomes emerging from these visits have been instrumental in further strengthening the multifaceted ties between the two countries. The Indo-Pacific Economic Framework for Prosperity (IPEF) was launched jointly by USA and other partner countries of the Indo-Pacific region on May 23, 2022 at Tokyo. India joined the IPEF and Prime Minister Shri Narendra Modi attended the launch event along with US President Joe Biden, Japanese Prime Minister Kishida Fumio and other leaders from partner countries. Previously, virtual Ministerial Meetings were held immediately after the launch on May 23 and thereafter from July 26-27, 2022. The IPEF seeks to strengthen economic engagement among partner countries with the goal of advancing growth, peace and prosperity in the region. The framework is structured around four pillars relating to Trade (Pillar I); Supply Chains (Pillar II); Clean Economy (Pillar III); and Fair Economy (Pillar IV). The meet would focus on strengthening economic cooperation and enhancing resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness in the Indo-Pacific region. India is committed to a free, open and inclusive Indo Pacific Region and would work towards deepening economic cooperation among partners for growth and prosperity of the region. The framework is inclusive and allows flexibility to partner countries to associate with pillars based on their respective priorities. The Minister will also hold bilateral meetings with US Secretary of Commerce, USTR and Ministers from other IPEF partner countries on the sidelines of the IPEF Ministerial. During the visit, the Minister would interact with the CEOs of multinationals, Indian diaspora, startup community including venture capitalists and academia to propel existing trade and investment relations between Indian and US business communities. The visit would focus upon emphasizing the attractiveness of India as the most preferred investment destination with a number of government interventions such as Gati-shakti, Startup India, Investment Corridors, measures undertaken for ease of doing business and improving investment climate. Shri Goyal will hold discussions upon the need and potential for closer industrial collaborations and further expand partnerships and establish trade and investment linkages across priority areas. Curated interactions with the startup ecosystem and the Indian diaspora that would help in empowering and mentoring their growth and expansion are also on the agenda. The Minister will also launch Institute of Chartered Accounts of India’s (ICAI) representative offices in USA Shri Goyal is expected to interact with globally renowned technology, entrepreneurship, and academic communities in the Bay Area, specifically, in the Silicon Valley to undertake focused discussions with American companies looking to invest or expand in India across sectors - Electronics (including Semiconductor), Technology, FinTech etc. The Minister is to engage with the vibrant Startup community in San Francisco to explore greater partnerships with the Indian startup ecosystem, mobilize global capital for India’s domestic markets, and encourage mentorships by experienced global business leaders for Indian entrepreneurs. Source: pib.gov.in
05 Sep, 2022 Centre in collaboration with Government of Manipur organizes in-store export promotion show in Dubai for pineapples. In a move towards harnessing export potential of naturally grown, organic certified fresh pineapples of North-Eastern Region (NER), centre, through Agricultural & Processed Food Products Export Development Authority (APEDA) organized an in-store export promotion programme in Dubai, United Arab Emirates (UAE) for Manipur’s pineapples among consumers. The ‘in-store promotion show’ of organic certified fibre rich Kwe variety of pineapples from Manipur, was organized at the Lulu hyper market, Dubai’s largest supermarket in association with Manipur Organic Mission Agency (MOMA) of Government of Manipur. This event is part of government’s strategy to promote locally produced agricultural products in the international markets. Manipur Organic Mission Agency (MOMA) has supported the sourcing of organic certified Kwe variety of pineapples directly from the farmers of Manipur. The Manipur pineapple, which is showcased with the support from APEDA, is fibre-rich sweetener from North Eastern Region (NER). The showcased pineapples are procured from Thayong Organic Producer Company Ltd in Imphal East district, Manipur. At the in-store export promotion show, consumers were offered Manipur pineapple to taste the sweetness of the fruit. Northeast pineapple is one of the most important tropical fruits grown in the NER and the fibre-rich fruit is cultivated in almost all the region. With a production of 134.82 metric tonne (MT) in 2020-21, Manipur ranks sixth in pineapple production having a share of 7.46 per cent in total production in India. The top ten importing countries of Indian pineapples are UAE, Nepal, Qatar, Maldives, USA, Bhutan, Belgium, Iran, Bahrain and Oman. A quantity of 7665.42 MT of pineapples valued at USD 4.45 million was exported in the year 2021-22. With the intervention of APEDA, there has been a significant increase in the export of agricultural produce from NE states like Assam, Nagaland, Manipur, Mizoram, Tripura, Arunachal Pradesh, Sikkim and Meghalaya in the last few years. Besides pineapple, the APEDA has also decided to take forward the promotion of other locally grown unique horticultural products from Manipur to the international market. The other unique products from Manipur are tamenglong orange, kachai lemon, black rice, etc. Tripura was the first North Eastern state to export its ‘queen’ variety of pineapple to Dubai and Doha in 2018. Tripura’s pineapple was also exported to Bangladesh in 2020. Assam also made a debut in pineapple export to Dubai in 2019. The NE region witnessed an 85.34 percent growth in the export of agricultural products in the last six years as it increased from USD 2.52 million in 2016-17 to USD 17.2 million in 2021-22. The major destination of export has been Bangladesh, Bhutan, the Middle East, the UK and Europe. In the last three years, APEDA organised 136 capacity building programmes on export awareness across the different parts of NER. Highest, 62 capacity building programmes were held in NER in 2019-20, while 21 in 2020-21 and 53 such programmes were organised by APEDA in the year 2021-22. Apart from capacity building initiatives, APEDA facilitated 22 International Buyer-Seller Meets as well as trade fairs in NER in the last three years. APEDA also organized a conference on the Export Potential of Natural, Organic and Geographical Indications (GI) Agro Products in Guwahati on June 24, 2022 to tap the abundant export potential of organic agricultural products from Assam and neighbouring states of NER. APEDA aims at creating a platform in Manipur for the exporters to get the products directly from the producer group and the processors. The platform will link the producers and processors of Assam and exporters from other parts of the country that would expand the base of the export pockets in the North-Eastern states, including Manipur and increase the employment opportunities among the people of the state. On the occasion, APEDA chairman Dr. M. Angamuthu stressed on promoting processed form of value-added pineapple to sustain in the global export market for a longer time period. 'We need to focus on promoting pineapple sourced from farmers in processed form in the Gulf countries through Lulu Group. It will help farmers in better price realization of their produce,' Dr Angamuthu said. Shri P Vaiphel, Additional Chief Secretary, Government of Manipur also attended the meet. Source: pib.gov.in
05 Sep, 2022 Ethiopia, Bangladesh, UAE amongst recipients of 3.5 lakh tonnes of G2G wheat exports since ban. Ethiopia, Israel, Bangladesh, UAE and Bhutan are amongst the recipients of the 3.5 lakh tonnes of wheat exported by India on a government-to-government (G2G) basis since a ban on its exports was imposed in May this year following concerns about a domestic spike in prices and possible shortages. New Delhi may also consider exporting wheat flour, maida, semolina and whole wheat flour to 'friendly countries’’ through the same route if the situation warrants, a source told BusinessLine. While export prohibition on wheat, wheat flour, maida, semolina and whole wheat flour is likely to continue for some time, the government is not worried about rice as its export has not increased much over the past months, the source told BusinessLine. 'Rice traders have been apprehensive about a the possibility of a ban on rice exports but the government does not seem to be in a hurry as situation appears to be under control,' he added. Curbs on wheat flour export Following the ban on export of wheat on May 13, the government placed restrictions on the export of wheat flour in July and subsequently banned it. 'Export of wheat flour was banned as there was a 208 per cent increase in exports over the April-August 2022 period. It was because of the sharp increase in exports that the government also decided to ban export of related products including semolina, maida and whole wheat flour,' the source said. The situation for rice is different as increase in export of rice in the April-August 2022 period has been only about 5 per cent, he added. India’s decision to ban export of wheat had led to a lot of global flak as several developed nations such as the US, the EU, Japan, Paraguay and Brazil blamed it for a further rise in global prices of the foodgrain. Interestingly, China jumped to India’s defence on the matter at the WTO stressing that targeting it was not right, more so when the purpose of the wheat export regulation was also to ensure that the country could continue to supply to other nations and neighbours with which it had struck agreements. In its defence, India had argued that its wheat exports were less than 1 per cent of the world trade and hence the country’s curbs should not affect the global markets. India ranked 19th, amongst wheat exporting countries, in 2020 and accounted for a fraction of exports carried out by nations such as the US, Canada, France, Australia and Argentina. In 2021-22, India’s wheat exports were at 7.85 million tonnes. 'Globally, things have changed for the better now as supplies have improved following the Black Sea Grain Initiative agreement between Russia and Ukraine with Turkey and the United Nations for export of food from Ukraine,' the source said indicating that India was facing less pressure now. Source: thehindubusinessline.com
05 Sep, 2022 Gujarat s area under horticulture grows three-fold in 20 years. Ahmedabad, Sept 3 Gujarat's horticulture crop area has jumped by nearly three times in the past 20 years, putting the State on the national map of fruit crops, the state government said. The cultivated area of horticultural crops has increased to 19.77 lakh hectares currently from 6.92 lakh hectares about 20 years ago. Horticultural production has increased from 62.01 lakh tonnes (lt) to 250.52 lt in the period. Chief Minister Bhupendra Patel said over 35 lakh horticulturists have benefited from the horticulture schemesin the past 20 years. The Kesar mango variety has received a geographical identification (G.I.) tag, making it a unique product of the state, which is also the biggest producer of okra (bhindi) and sapota (chikoo) in the country. 'This is a matter of pride for the horticultural farmers of Gujarat,' said Patel, after laying foundation stones for three new Centres of Excellence (CoEs) in Ahmedabad, Jamnagar and Kheda, and primary processing centres in Banaskantha, Kutch, Jamnagar, Navsari and Panchmahal districts. The State government has implemented a comprehensive horticulture development programme for cultivation of perennial fruit crops on commercial basis. It also provides necessary assistance to assists farmers against high initial investment.The programme also benefits members of registered trusts, FPOs, FPCs and cooperative societies holding cultivable land. Cultivation of fruit crops such as kamalam (dragon fruit) has been incentivised with maximum assistance of up to Rs 4.50 lakh per hectare for a farmer. Also, a Mission Madhmakhi Karyakram for beekeeping provides up to 75 per cent assistance in beekeeping, processing, packaging, cold room and bee clinics. The CoEs will support farmers in making horticulture profitable and ensuring infrastructure facilities are available to the farmers. The state government has also allocated Rs 10 crore for apiculture (beekeeping). 'The state government has allocated Rs 10 crore n the last five years to 7.26 lakh benefic have availed the benefits of various horticulture schemes of the government,' Patel said. The State has also implemented drone technology at an outlay of Rs 35 crore to cover 1.40 lakh acres of land. This technology is used to sprinkle fertiliser in fields, saving on labour costs. Source: thehindubusinessline.com
05 Sep, 2022 India needs machinery and technologies for small & marginal farmers: Shobha Karandlaje, MoS (Agriculture). With India becoming a food surplus country, the Indian farmer needs affordable machinery and technologies to expand production and come up with value-added products with export potential, said Sushri Shobha Karandlaje, Union Minister of State for Agriculture and Farmers Welfare, at the 7th International Exhibition and Conference EIMA Agrimach India 2022. Sushri Shobha Karandlaje, accompanied by Shri Murugesh R Nirani, Minister of Large and Medium Industries, and Shri Muniratna, Minister for Horticulture and Planning & Statistics, Government of Karnataka, inaugurated the three-day conference cum exhibition in Benguluru yesterday. Speaking on the occasion, MoS Karandlaje encouraged equipment manufacturers and technology developers to manufacture food processing machinery to check the rampant wastage of agriculture and horticulture produce in the absence of value addition. She said that instead of wasting, the food could be exported to nations with limited food production avenues. Sushri Karandlaje said, 'what the country needs now is affordable and quality food processing, agri-marketing and agri-export avenues.' She also noted that with 2023 being the 'International Year Of Millets', India could step up exports as the country is among the leading producers of millets. In his address, Shri Murugesh R Nirani said that increased efforts were needed for technology improvement, adoption, and exports. In addition, the minister encouraged foreign industry participants to introduce affordable mechanised farming, given the small land holdings in the state. EIMA Agrimach India 2022, running in its 7th edition, is being organised for the first time in Bengaluru. The event has registered participants from more than 40 countries. Over three days, more than 10,000 farmers, industry participants, foreign delegates, investors, agriculture researchers, and students would visit the exhibition and conference. Source: pib.gov.in
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