16 Aug, 2022 News Image India s overall exports (Merchandise and Services) for July 2022 records a positive growth of 11.51 per cent over the same period last year.

India’s overall exports (Merchandise and Services combined) in July 2022* are estimated to be USD 61.18 Billion, exhibiting a positive growth of 11.51 per cent over the same period last year. Overall imports in July 2022* are estimated to be USD 82.22 Billion, exhibiting a positive growth of 42.90 per cent over the same period last year.

Table 1: Trade during July 2022*

 

 

July 2022

(USD Billion)

July 2021

(USD Billion)

Growth vis-à-vis July 2021 (%)

Merchandise

Exports

36.27

35.51

2.14

Imports

66.27

46.15

43.61

Trade Balance

-30.00

-10.63

-182.10

Services*

Exports

24.91

19.36

28.69

Imports

15.95

11.39

40.02

Net of Services

8.96

7.97

12.49

Overall Trade (Merchandise+

Services) *

Exports

61.18

54.87

11.51

Imports

82.22

57.54

42.90

Trade Balance

-21.04

-2.67

-688.49

* Note: The latest data for services sector released by RBI is for June 2022. The data for July 2022 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-July 2021 has been revised on pro-rata basis using quarterly balance of payments data.

Fig 1: Overall Trade during July 2022*

India’s overall exports (Merchandise and Services combined) in April-July 2022* are estimated to be USD 253.84 Billion, exhibiting a positive growth of 22.85 per cent over the same period last year. Overall imports in April-July 2022* are estimated to be USD 317.40 Billion, exhibiting a positive growth of 47.68 per cent over the same period last year.

 

Table 2: Trade during April-July 2022*

 

 

April-July 2022

(USD Billion)

April-July 2021

(USD Billion)

Growth vis-à-vis April-July 2021 (%)

Merchandise

Exports

157.44

131.06

20.13

Imports

256.43

173.12

48.12

Trade Balance

-98.99

-42.07

-135.31

Services*

Exports

96.40

75.57

27.56

Imports

60.96

41.80

45.85

Net of Services

35.44

33.77

4.93

Overall Trade (Merchandise+

Services) *

Exports

253.84

206.63

22.85

Imports

317.40

214.92

47.68

Trade Balance

-63.55

-8.29

-666.23

* Note: The latest data for services sector released by RBI is for June 2022. The data for July 2022 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-July 2021 has been revised on pro-rata basis using quarterly balance of payments data.

Fig 2: Overall Trade during April-July 2022*

MERCHANDISE TRADE

  • Merchandise exports in July 2022 were USD 36.27 Billion, as compared to USD 35.51 Billion in July 2021, exhibiting a positive growth of 2.14 per cent.
  • Merchandise imports in July 2022 were USD 66.27 Billion, which is an increase of 43.61 per cent over imports of USD 46.15 Billion in July 2021.
  • The merchandise trade deficit in July 2022 was estimated at USD 30 Billion as against USD 10.63 Billion in July 2021, which is an increase of 182.10 per cent.

Fig 3: Merchandise Trade during July 2022

  • Merchandise exports for the period April-July 2022 were USD 157.44 Billion as against USD 131.06 Billion during the period April-July 2021, registering a positive growth of 20.13 per cent.
  • Merchandise imports for the period April-July 2022 were USD 256.43 Billion as against USD 173.12 Billion during the period April-July 2021, registering a positive growth of 48.12 per cent.
  • The merchandise trade deficit for April-July 2022 was estimated at USD 98.99 Billion as against USD 42.07 Billion in April-July 2021, which is an increase of 135.31 per cent.

Fig 4: Merchandise Trade during April-July 2022

  • Non-petroleum and non-gems & jewellery exports in July 2022 were USD 26.62 Billion, registering a positive growth of 1.55 per cent over non-petroleum and non-gems & jewellery exports of USD 26.21 Billion in July 2021.
  • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 38.45 Billion in July 2022 with a positive growth of 42.91 per cent over Non-petroleum, non-gems & jewellery imports of USD 26.90 Billion in July 2021.

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

 

July 2022

(USD Billion)

July 2021

(USD Billion)

Growth vis-à-vis July 2021 (%)

Non- petroleum exports

29.90

29.67

0.76

Non- petroleum imports

45.14

33.74

33.77

Non-petroleum & Non Gems & Jewellery exports

26.62

26.21

1.55

Non-petroleum & Non Gems & Jewellery imports

38.45

26.90

42.91

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

 

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

  • Non-petroleum and non-gems & jewellery exports during April-July 2022 was USD 110.47 Billion, an increase of 10.81 per cent over non-petroleum and non-gems & jewellery exports of USD 99.69 Billion in April-July 2021.
  • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were USD 147.56 Billion in April-July 2022, recording a positive growth of 36.94 per cent, as compared to Non-petroleum, non-gems & jewellery imports of USD 107.75 Billion in April-July 2021.

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

 

April-July 2022

(USD Billion)

April-July 2021

(USD Billion)

Growth vis-à-vis April-July 2021 (%)

Non- petroleum exports

123.98

112.32

10.38

Non- petroleum imports

174.40

129.81

34.35

Non-petroleum & Non Gems & Jewellery exports

110.47

99.69

10.81

Non-petroleum & Non Gems & Jewellery imports

147.56

107.75

36.94

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

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

SERVICES TRADE

  • The estimated value of services export for July 2022* is USD 24.91 Billion, exhibiting a positive growth of 28.69 per cent vis-a-vis July 2021 (USD 19.36 Billion).
  • The estimated value of services import for July 2022* is USD 15.95 Billion exhibiting a positive growth of 40.02 per cent vis-à-vis July 2021 (USD 11.39 Billion).
  • The services trade balance in July 2022* is estimated at USD 8.96 Billion, which is an increase of 12.49 per cent over July 2021 (USD 7.97 Billion).

Fig 7: Services Trade during July 2022*

 

  • The estimated value of services export for April-July 2022* is USD 96.40 Billion, exhibiting a positive growth of 27.56 per cent vis-a-vis April-July 2021 (USD 75.57 Billion).
  • The estimated value of services imports for April-July 2022* is USD 60.96 Billion exhibiting a positive growth of 45.85 per cent vis-à-vis April-July 2021 (USD 41.80 Billion).
  • The services trade balance for April-July 2022* is estimated at USD 35.44 Billion as against USD 33.77 Billion in April-July 2021, which is an increase of 4.93 per cent.

Fig 8: Services Trade during April-July 2022*

 

 

Table 5: Export Growth in Commodity Groups in July 2022

Sl. No.

Commodities

(Values in Million USD)

% Change

JUL'21

JUL'22

JUL'22

 

Commodity groups exhibiting positive growth

1

Tobacco

65.16

113.48

74.16

2

Electronic Goods

1244.20

1817.64

46.09

3

Coffee

71.19

93.39

31.18

4

Rice

710.94

930.50

30.88

5

Cereal preparations & miscellaneous processed items

182.45

227.18

24.52

6

Oil Meals

65.45

80.64

23.21

7

Oil seeds

76.58

92.68

21.02

8

Meat, dairy & poultry products

256.39

308.81

20.45

9

Leather & leather products

387.72

464.38

19.77

10

Ceramic products & glassware

295.97

332.28

12.27

11

Tea

70.07

78.33

11.79

12

Petroleum Products

5840.02

6376.21

9.18

13

Organic & Inorganic Chemicals

2426.09

2620.85

8.03

14

Fruits & Vegetables

220.06

234.00

6.33

15

Other cereals

96.78

101.98

5.37

16

Spices

338.42

343.53

1.51

17

Marine Products

701.60

711.87

1.46

18

Mica, Coal & Other Ores, Minerals including processed minerals

406.45

409.77

0.82

Sl. No.

Commodities

(Values in Million USD)

% Change

JUL'21

JUL'22

JUL'22

 

Commodity Groups exhibiting negative growth

19

Iron Ore

363.20

20.58

-94.33

20

Handicrafts excl. hand made carpet

189.04

121.23

-35.87

21

Cotton Yarn/Fabs./made-ups, Handloom Products etc.

pib.gov.in
16 Aug, 2022 News Image Commerce ministry suggests host of incentives to revamp SEZs.
The government's move to revamp special economic zones (SEZs) could begin with the introduction of a host of direct and indirect incentives, as proposed by the commerce ministry, an official said.
 
The expected incentives could include deferral of import duties and exemption from export taxes, which could pave the path for revamping Special Economic Zones, through a new legislation.
 
 
The Centre proposed in the Union Budget this year, to replace the existing law governing Special Economic Zones (SEZs) with a new legislation to enable states to become partners in 'Development of Enterprise and Service Hubs' (DESH).
 
The commerce ministry has sought views of different ministries, including finance, on the new bill, PTI quoted an official as saying.
 
 
After collating the feedback, the ministry would seek approval of the Cabinet and then introduce the new bill in Parliament.
 
 
The proposals seek to provide incentives such as retention of zero-rating of IGST (integrated goods and services tax) on domestic procurement by a unit in an SEZ; continuation of indirect tax benefits to developers of these zones; and allowing depreciation on sale of used capital goods cleared to domestic tariff areas.
 
Moreover, there is also a plan to extend the corporate tax rate to 15 per cent without any exemptions for units undertaking authorised operations in these development hubs.
 
States can also provide support measures to these zones to boost manufacturing and job creation.
 
 
The existing SEZ Act was enacted in 2006 with an aim to create export hubs and boost manufacturing in the country. However, these zones started losing their sheen after imposition of minimum alternate tax and introduction of sunset clause for removal of tax incentives.
 
These zones are treated as foreign entities in terms of provisions related to customs. Industry has time and again demanded continuation of tax benefits provided under the law. Units in SEZs used to enjoy 100 per cent income tax exemption on export income for the first five years, 50 per cent for the next five years and 50 per cent of the ploughed back export profit for another five years.
 
In the Budget 2016-17, the government had announced that the income tax benefits to new SEZ units would be available to only those units which commence activity before March 31, 2020.
 
 
As on June 30, 2022, the government has given formal approvals to 425 SEZ developers, out of which 268 are operational. These zones have attracted about Rs 6.5 lakh crore investments and employ about 27 lakh persons.
 
During April-June this fiscal, exports from these zones rose by 32 per cent to about Rs 2.9 lakh crore. It was about Rs 10 lakh crore in 2021-22 as compared to Rs 7.6 lakh crore in 2020-21.
 
Presenting the Budget 2022-23 , Finance Minister Nirmala Sitharaman had said: "The Special Economic Zones Act will be replaced with a new legislation that will enable the states to become partners in Development of Enterprise and Service Hubs."
 
This would cover all large existing and new industrial enclaves to optimally utilise available infrastructure and enhance competitiveness of exports.

 Source:  m.economictimes.com
16 Aug, 2022 News Image Mustard, maize and moong cultivation must be promoted to boost farmers' income.
The cultivation of maize, mustard and moong should be promoted to boost farmers' income and attain self-sufficiency in edible oils, a senior official from the union agriculture ministry said on Saturday. Indian Council of Agricultural Research (ICAR) Deputy Director General (Agriculture Extension) and Agriculture Commissioner, Government of India A K Singh also pitched for the adoption of technologies like drones in the agriculture sector.
 
He was speaking at a consultative meeting 'Emerging Challenges in Plant Protection of Major Kharif Crops' organized in association with agro-chemical firm Dhanuka Group.
 
'Crop diversification must be promoted in a big way. Instead of focusing on wheat and rice, cultivation of 3Ms - Maize, Moong & Mustard - should be promoted as it can help the country in attaining self-sufficiency and at the same time help in enhancing the income of farmers,' Singh was quoted as saying in a statement.
 
India imports around 60 per cent of its domestic edible requirements. Pulses too are imported, although in a small quantity.
 
Singh also emphasised on the need for adoption of the modern technology and called upon agricultural research institutes to develop a protocol for usage of drones at the earliest.
 
'We also need to have a contingency plan for different crops way in advance so that farmers can adopt it,' Singh said.
 
Several well-known agriculture scientists from 33 Krishi Vidyalaya Kendras (KVKs), as well as scientists from ICAR, participated in the consultative meet, which also witnessed the participation of policymakers, industry players and farmers among others.
 
R G Agarwal, Chairman, Dhanuka Group stressed on the need for the adoption of 'Integrated Crop Management' practices, usage of modern technology and quality agri-inputs.
 
'On the lines of Integrated Pest Management, we may look at adopting 'Integrated Crop Management' as a practice. This will help address critical issues pertaining to different crops cultivated across the country. We need precision agriculture today, to enhance crop yield and income of our farmers,' Agarwal said.
 
Technology has to play an important role in it and therefore the farm sector is embracing drones and other technologies in a big way, he added.
 
'Unfortunately, India's agri-input market including the agrochemical segment is saddled with lower quality and sub-standard products. In the interest of the farmers, it is imperative to tackle the menace of inferior agri-inputs on priority so as to ensure the government's noble objective of doubling the farmers' income,' said Agarwal.
 
Rajbir Singh, Director, ICAR-Agricultural Technology Application Research Institute (ATARI) said, this is the first time a national-level consultation meet is being organized in association with a private sector and hope the recommendation from the meet would help farmers overcoming the issue of pest and various crop diseases.
 
Subhash Chander, Director, ICAR- NCIPM said, 'Farmers would benefit immensely by adopting integrated pest management techniques and it needs to be adopted in a holistic manner.'
 
Sujay Rakshit, Director, ICAR-IIMR, Ludhiana said diversification of crops is the need of the hour. 'Cultivation of short duration crops would also help the farming community a great deal'.

 Source:  economictimes.indiatimes.com
16 Aug, 2022 News Image India can help the Commonwealth scale up its trade, says Commonwealth Secy General.
India can play a leadership role in enhancing trade and digital connectivity within the Commonwealth, says Patricia Scotland, secretary-general of the 56-nation club, in an interview to Himani Kothari. Scotland, who visited India last week, says intra-Commonwealth investments have nearly trebled since she took office in 2016 and that she is confident of achieving $2 trillion in annual trade between the member countries by 2030.
 
 
What issues did you focus on during your India visit?
 
I have loved every visit to India, and this visit was no different. This is a remarkable country: a driving force in the Commonwealth and a leader in the wider world. I have enjoyed discussions with ministers, high-level officials and partners in NGOs, international organisations and the private sector on priority issues for India and the Commonwealth, especially how we can work together to implement the clear outcomes from the Commonwealth Heads of Government Meeting in June.It is impossible not to be struck by the mutual significance of the relationship between India and the Commonwealth: India is the largest member of the Commonwealth, and the Commonwealth is committed to working closely with India. India's dynamism and innovation offer a large scope of opportunities for collaboration with the other 55 countries in our family. Furthermore, there is an opportunity to explore the natural synergies between India and the rest of the Commonwealth.
 
 
What was the intra-Commonwealth trade turnover in 2021 and India's share in that?
 
India's trade with other Commonwealth members is significant and growing, and India is a key driver of intra-Commonwealth trade in goods and services. While not a formal trading bloc, the Commonwealth trade advantage means our members can enjoy bilateral trade costs which are 20% lower than trade with non-Commonwealth countries, with a near-tripling of intra-Commonwealth investment since I took office as secretary-general.Although India enjoys a healthy share of Commonwealth trade, there are still opportunities to further scale up intra-Commonwealth trade, and we are determined that we will reach our goal of $2 trillion in annual intra-Commonwealth trade by 2030. And last but not least, 60% of the Commonwealth population is under the age of 30. To empower our youth to reach their full potential we must close the digital divide. This week, I spoke at the Management Development Institute in New Delhi about the importance of utilising strategies such as SMART governance to close the digital divide.
 
 
What are the areas where you would like India to play a larger role?
 
India is already an active, engaged Commonwealth member and leads on a range of issues from Covid-19 vaccine distribution to environmental issues. My visit has enabled us to explore ways in which the Commonwealth Secretariat can provide more assistance to India, and where India can play a leadership role within the Commonwealth in areas such as the Blue Charter and Living Lands agendas, intra-Commonwealth trade and enhancing digital connectivity.
 
There was some innovation in the recently concluded Commonwealth Games, with Esports making its debut...
 
The Commonwealth Games have always been innovative - it is the most inclusive multi-sport games in the world. Esports is not the only first at the 2022 Commonwealth Games - it is the first major multi-sport games where there were more medals for women than men. I think the Commonwealth Games was a fantastic illustration of the unity and purpose within the Commonwealth, and a great reflection of the Commonwealth's breadth and diversity. I'd like to congratulate India on their 61 medals, finishing 4th overall in medals with 22 gold, 16 silver and 23 bronze. And to Sharath Kamal, a table tennis champion and India's most successful athlete in these games with 4 medals.

 Source:  m.economictimes.com
16 Aug, 2022 News Image Renewed push for agro export promotion to achieve USD 23.56 billion target for 2022-23.
APEDA, an export promotion body for agricultural products of the Ministry of Commerce & Industry has made an outreach strategy for the promotion of agro export to accomplish the export target of USD 23.56 billion for the financial year 2022-23. 300 events will be organized under the plan in the current year for boosting exports.
 
Given that sanitary and phytosanitary measures used as technical barrier to trade by countries which pose a major challenge in the export of food products, particularly in developed countries, the APEDA plans to create awareness among the stakeholders of food export by highlighting its impact on human life through various online platforms, including social media platforms.
 
As per the proposed outreach strategy, it is planned to establish a strong and regular connection with exporters, farmers, Agriprenures, food processors, logistics providers, foreign exchange management companies, etc, with the help of different mainstream publications and electronic channels as well as prominent social media platforms by highlighting a list of potential products have an abundant export potential.
 
A list of potential markets will also be displayed at various social media platforms. Besides, country-wise and product-wise specific requirements of India’s export potential products would be highlighted especially at the APEDA portal for exporters.
 
Also, quick updation of importing countries' requirements immediately may be circulated among the stakeholders and product wise benefits of India’s exports to its preferential partner countries would also be highlighted to grab more opportunity in the partner countries.
 
To attract more exporters, APEDA export procedures would be circulated at various platforms especially at electronic media and one pager news of its procedure for export to be circulated at grass root and village level along with its benefits.
 
Working in line with Prime Minister Shri Narendra Modi’s clarion call towards creating AtmaNirbhar Bharat , focus is on nurturing potential budding Agriprenures through practical and technical training and motivate them to choose agriculture export as an attractive career.
 
The apex agro export promotion body of the Ministry of Commerce & Industry also proposes to organise a programme for Agriprenures to harvest export opportunities from diversified agro climatic zones in India.
 
The stakeholders in agri supply chain such as farmers, students, officials, etc would be oriented for agriculture export procedures, guidelines, fiscal and financial incentives in agri supply chain from government, sanitary and phyto-sanitary issues in supply chain viz., residues, maximum residue limits, traceability, etc.
 
As India has a good potential for export of Geographical Indication (GI) tagged products due to its therapeutic and health values, orientation programmes have been planned to create awareness among stakeholders for GI products in the North Eastern Region (NER).
 
In India, there are more than 140 GI registered agriculture products and out of those, 123 agro products are APEDA’s scheduled products. Considering the biodiversity in India, it has been planned to hold a series of national and international exhibitions and workshops to promote the export of GI products across the globe by taking universities, organizations, NGOs, etc on board as knowledge partners at national and international level.
 
As per the outreach strategy, it has been proposed to form an association of GI registry owners for better coordination and to bridge the link between GI stakeholders and government. The move is aimed at establishing the integrity and authenticity of GI products as there is an organization for registration of GI products, but there is no agency to verify its authenticity.
 
The proposed programmes to be organized under outreach strategy would focus on challenges in export oriented agri supply chain in India, automation and mechanization of agri supply chain, effective implementation of new technologies in agriculture and food processing, Agri Export Policy, one district and one product, pre and post harvest practices at par with SPS and Global GAP, logistics and infrastructure requirements for integrated cold chain management and measures for safe residue zones especially pesticides and toxins residues
 
It has been proposed to make video and info-graphics content about the success stories of exporters and promote it on social media platforms regularly. The agro export promotion body has also proposed to publish motivational success stories of farmers, start-ups, exporters, etc, in different print and social media.

 Source:  pib.gov.in
16 Aug, 2022 News Image Modi s five-point agenda to put India on developed nation orbit.
Prime Minister Narendra Modi on Monday enumerated the ‘Panch Pran’ (five pledges) that all citizens should take to contribute to India achieving the status of a developed nation by 2047, in the 100th year of its Independence.
 
 
Another highlight of the PM’s 82-minute-long address to the nation was his exhortation for a nationwide campaign against corruption and nepotism, which he defined as the two big challenges facing the country.
 
India is categorised variously as 'Developing' (UN), 'Low Middle Income Country' (World Bank) and 'Emerging Economy' (IMF). These categorisations are based on a number of factors, including our human development indicator and per capita income .
 
'We should focus on the five pledges -- a resolve for a developed India; removing any trace of the colonial mindset; taking pride in our legacy; our strength of unity; and fulfilling the duties of citizens with honesty, which should be done by the Prime Minister and Chief Ministers as well,' said the PM while addressing the nation from the ramparts of the Red Fort in New Delhi on the 76th Independence Day.
 
With his government often accused by the Opposition of weakening states’ rights, he underlined his faith in cooperative federalism and the spirit of 'team India', saying that was what he practised when he was Gujarat Chief Minister and a different party (Congress) was in power at the Centre. 'We may have different programmes and working styles, but our dreams for the nation are not different,' he said in an apparent appeal to the Opposition parties to work together to develop the country.
 
He said in this ‘Amrit Kaal’, every Indian is aspiring to see the fast progress of a new India with enthusiasm and impatience. 'Our nation has proved that diversity is an inherent strength and the common thread of patriotism makes India unshakeable,' Modi said.
 
Research and innovation
The PM made a strong pitch for research and innovation, by adding ‘Jai Anusandhan’ to the slogan of ‘Jai Jawan, Jai Kisan, Jai Vigyaan.’  The PM had first given the slogan ‘Jai Anusandhan’ at the Indian Science Congress in Jalandhar in January 2019.
 
He hailed the Digital India movement, saying innovations such as UPI BHIM have taken the fin-tech world by storm. 'Look at the power of our innovation. Forty per cent of financial digital transactions in the world take place in India,' he said.
 
India will soon step into the 5G era, and it has also made rapid strides in laying optic fibre. 'The dream of a Digital India will be realised through a transformation in the villages,' he said.
 
The Digital India movement will power big changes in education, healthcare and every other aspect of life in the coming decade. 'A new world is emerging. India will play a key role in this. The coming decade will prove to be a techade for humankind. This decade of technology is India‘s ‘techade’. We have proved ourselves in the field of technology,' Modi said.
 
The PM said an aspirational society was India’s biggest asset. 'It is our endeavour that the youth of the country get all the support for research in all areas, from space to the depths of the ocean. That is why we are expanding our Space Mission and Deep Ocean Mission. The solution to our future lies in the depths of space and the ocean,' he said.
 
Corruption & nepotism
Highlighting the need to target corruption & nepotism, he said, 'Corruption is eating the country like termites and we have to fight it with our full might. It is our endeavour that those who have looted the country, have to return it.' The PM said the need of the hour is for people to develop a feeling of ‘nafrat’ (hatred) for corruption and the corrupt.
 
Also hitting out at dynastic politics and nepotism, he said their presence in politics nourished this 'evil' in all other institutions of the country. This must be ended, he said.
 
'Nepotism harms India‘s talents and capabilities. That is also a reason for corruption as people resort to it when they see no other option,' he said, seeking awareness against this to rid India‘s institutions of these evils for their bright future,' he said, underlining that he considered it his constitutional and democratic responsibility to fight these evils and sought the people’s support and mandate in this crusade.
 
'In politics too, dynasties have done the most injustice to the country’s strength. Dynastic politics is aimed at a family’s welfare and has no interest in the country’s welfare,' he said, asking people to join him in 'purifying' Indian politics and its institutions to take the country forward.

 Source:  thehindubusinessline.com
16 Aug, 2022 News Image UAE-India to further strengthen economic ties through CEPA.
The UAE has announced its plan to invest in India’s food parks. What does it mean for the UAE-India trade ties?
 
A new quadrilateral forum I2U2 comprising India, Israel, the UAE and the US was announced with a shared vision for contributions to energy and food security and economic growth on a global scale. It has identified six areas of cooperation — water, energy, transportation, space, health and food security.
 
In line with our robust bilateral engagements and the signing of the milestone Comprehensive Economic Partnership Agreement (CEPA), under the I2U2 framework, the UAE will invest $2 billion (Dh7.3 billion) to develop a series of integrated food parks incorporating state-of-the-art climate-smart technologies to reduce food waste, conserve fresh water and employ renewable energy sources across India. US and Israeli private sectors will be invited to lend their expertise and offer innovative solutions that contribute to the overall sustainability of the project.
 
The food parks will bring farmers, processors and retailers together. Using advanced climate technology to minimise waste, conserve water and maximise crop yields, these will focus at first on crops including potatoes, rice and onions.
 
How do you assess UAE-India bilateral relations?
 
The historical people-to-people contacts between India and the UAE laid the strong foundation for special and friendly relations. The 3.5-million Indians residing in the UAE have been the pillar of our friendship. The UAE has been an important partner of India for over five decades and continues to be an integral strategic partner.
 
Today, the bilateral relations are at the most exciting phase with the signing of CEPA that will bring in quantum jump in the bilateral merchandise trade as well as two-way investment flows.
 
Our partnership across sectors such as energy, food security, defence, cultural, advanced technologies and space are forward-looking under the visionary leadership of both the countries.
 
What initiatives has the consulate taken to further promote trade relations between the UAE and India?
 
Being a global trade hub and hosting the vibrant Indian business community, Dubai offers innumerable opportunities for bilateral trade.
 
The consulate has been actively interacting with the government authorities, chambers of commerce and all other stakeholders to promote trade and investments.
 
India’s participation at Expo 2020 Dubai has been instrumental in forging partnerships across sectors with participation of many Indian states, central ministries and young Indian entrepreneurs. India Innovation Hub and Elevate pitching sessions for start-ups at the India pavilion displayed innovations of more than 730 start-ups during Expo 2020 Dubai.
 
We are taking forward the positive outcomes of these interactions for mutual growth in both the Indian and UAE start-up ecosystems. The consulate recently organised the 22nd edition of Elevate XXII at the consulate auditorium.
 
The consulate regularly organises Buyer Seller Meet focused on specific sectors that enable our Export Promotion Councils and agencies to have face-to-face interactions and better understand the dynamics of the UAE market and its re-export potential.
 
The consulate facilitates the robust participation of Indian delegations in trade exhibitions and events in Dubai. It also organises workshops that brings together all stakeholders in leveraging the best available opportunities created by both governments.
 
How does the consulate reach out to the Indian community in Dubai and the northern emirates and connect with them?
 
The Indian diaspora in the UAE is among the largest expatriate group in the world. The consulate closely works with the community in its efforts to make its services friendly and offer them in a timely manner. Since August 2020, the consulate has been open all the days of the year.
 
Passport services are now being delivered in a fast and transparent manner. Visa applications are getting processed on the same day and delivered to applicants the next day. Consulate officers visit various locations in northern emirates on weekends to provide services .
 
Pravasi Bhartiya Sahayata Kendra serves 365 days a year. It functions from the consulate premises with provisions for daily walk-ins and legal, financial and psychological counselling sessions.
 
Community outreach programmes for blue-collar workers disseminating various welfare schemes, as well as sessions on health and financial literacy are regularly organised.
 
Upskilling and training sessions for Indian blue-collar workers have also been organised in Dubai and the northern emirates.
 
During Expo 2020 Dubai, community organisations were instrumental in making India’s participation successful, bringing forward unique flavours of Indian culture.
 
Indian schools, institutes and cultural groups have been closely working with the consulate in celebrating Azadi ka Amrit Mahotsav, marking 75 years of India’s independence.

 Source:  gulfnews.com
16 Aug, 2022 News Image APEDA initiates pilots to boost export of agricultural products under ODOP.
To boost unique agricultural products under the one district one product (ODOP) programme, the Agricultural and Processed Food Products Export Development Authority (APEDA) has initiated pilots in seven districts across five states for providing necessary infrastructure and financial assistance through convergence mode.
 
The districts where the pilots have been initiated include Lucknow (mango) in Uttar Pradesh; Nagpur (mandarin orange), Nasik (onion), Sangli (grapes) in Maharashtra, Krishna (mango) in Andhra Pradesh ,Kumuram Bheem (millets) in Telangana and Dharamapuri (millets) in Tamil Nadu.
 
In identified clusters, APEDA in collaboration with the ministry of food processing is organising sensitisation workshops of farmer producer organisations (FPOs), farmer producer companies (FPCs) and self-help groups (SHGs) for boosting exports of unique agricultural products from these districts.
 
The focus of the ODOP initiative was to converge various schemes being implemented by agriculture, food processing, animal husbandries along with the commerce ministry to create necessary infrastructure for increasing exports.
 
'Providing market access for chosen products, hand holdings of farmers or FPOs for harnessing export potential are part of the initiative to ensure that each district in the country emerges as a major export hub for chosen agricultural products,' an official said.
 
Through a preliminary survey, the identified districts are being assessed for identifying key challenges in terms of infrastructure available and current challenges in exports of agricultural products from the particular district.
 
'Through facilitating buyers and sellers to meet with FPOs, FPCs and cooperatives, we have facilitated exports of more than 50 products under ODOP,' M Angamuthu, chairman, APEDA, told FE.
 
Angamuthu said convergence of the programme would allow access of the farmers and exporters to common facilities such as cooling chamber and pack houses and other infrastructure along with capacity building of key stakeholders in the exports value chain.
 
Under ODOP, the government is aiming to converge resources from various centrally sponsored schemes — Mission for Integrated Development of Horticulture, National Food Security Mission, Rashtriya Krishi Vikas Yojana, Paramparagat Krishi Vikas Yojana and various initiatives of the ministry of fisheries, animal husbandry and dairying.
 
APEDA has also formed export promotion forums for boosting exports of grapes, onions, mango, banana, pomegranate, floriculture, rice, dairy products and nutri-cereals.
 
Towards integration with ODOP initiative, APEDA in association with Invest India and Indian missions abroad have been organising various events such as mango festivals to promote India’s agricultural products exports.
 
In the first quarter of the 2022-23, the exports of APEDA basket products such as rice, fruits, vegetables, processed food and dairy products rose by 31% $ 7.4 billion from $ 5.6 billion reported during the same period previous fiscal.
 
For the current fiscal, an export target of $ 23.56 billion has been fixed by APEDA for the agricultural and processed food products basket.

 Source:  financialexpress.com
16 Aug, 2022 News Image India resumes mango exports to the US after two years.
India resumed mango exports to the US after a pandemic-induced two-year gap. More than 1,000 tonne of alphonso, kesar and other varieties of mangoes have been shipped recently, trade sources said.
 
India also exported mangoes to Japan for the first time while shipment to South Korea resumed after two years too.
 
Officials told FE that in the current year, alphonso and kesar mangoes from India have been sold in the US market at a premium of $9 and $7 per kg, respectively, compared to $3 to $4 a kg realised from mangoes sourced from other countries.
 
The exports of mangoes were halted in 2020 and 2021 as inspectors from the US department of agriculture (USDA) could not visit India for inspection of irradiation facilities due to travel restrictions because of Covid19.
 
Mangoes exported to the US undergo an irradiation process, where fruit is exposed to gamma radiation, which kills insects or pesticides inside the fruit.
 
Agricultural and Processed Food Products Development Authority (Apeda) is aiming to increase India’s presence in the US mango market, which is mostly dominated by countries such as Peru, Brazil and Venezuela.
 
Following a phytosanitary framework agreement signed between the agriculture ministry and the USDA’s animal and plant health inspection service earlier this year, mango exports from three irradiation facilities at Vashi (Navi Mumbai), Nasik and Bengaluru have commenced.
 
Apeda organised a series of mango promotion programme in Dubai, Bahrain, Denmark, San Francisco, Turkey, Afghanistan and Germany.
 
 
India has commenced exports of mangoes to Japan through a shipment of around 50 tonne. Apeda in collaboration with the Indian embassy in Japan held a mango promotion programme at supermarkets in Japan. Similarly, mango exports to South Korea also commenced this season after a gap of two years.
 
A Malaysian delegation has inspected the irradiation facilities in Mumbai, Nashik and Bengaluru, and assured imports of mango varieties such as alphonso, kera and banganpalli from the next season.
 
Apeda organised a mango festival in Bahrain where 34 varieties of mangoes from eastern states, including West Bengal, Bihar, Jharkhand and Odisha, were displayed at Bahrain’s Al Jazira group supermarket
 
Stating that India has received market access from Argentina for mango exports, M Angamuthu, chairman, Apeda, said “our thrust has been to export various unique varieties of mangoes sourced from various states to more than 50 countries”.
 
India is the world’s largest producer of mangoes, followed by China. However, it exports less than 1% mainly because of lack of sea container protocol and air freights are expensive. Uniqueness of Indian mangoes is its sweetness and smaller size.
 
In 2021-22, the United Arab Emirates (44%), United Kingdom (22%), Qatar (7%), Oman (6%) and Kuwait (5%) had 84% share in the India’s value of fresh mango exports.

 Source:  financialexpress.com
12 Aug, 2022 News Image Govt plans to reduce import dependence on palm oil by 25-30%.
The government is aiming at reducing import dependence on palm oil by 25 to 30% through the production of 2.8 million tonne (MT) of oil by 2030 under the National Edible Oil Mission.
 
Currently, around 0.35 million hectare (MH) is under palm plantation. Under the mission launched last year, an additional area of 0.65 MH will be brought into palm plantations by 2025-26.
 
India imports 56% of its edible oil requirement annually. The country imports around 8 MT of palm oil while the domestic production is around 0.5 MT.
 
'Through bringing in more area under palm plantation in the next three years, especially in Andhra Pradesh, Telangana, Assam, Tripura and Mizoram, we plan to reduce our palm oil import dependence by 2030,' an official who is involved in the national oil palm mission, told FE.
 
Also Read| CGD players may cut prices as APM gas supply hiked
 
In the seventh meeting of the governing council of Niti Aayog, Prime Minister Narendra Modi stressed achieving self-sufficiency in oilseeds, pulses and other crops.
 
In August 2021, the national oil palm mission was launched with an investment of Rs 11,040 crore. Out of which the Centre’s share is Rs 8,844 crore, while the rest is contributed by the state government for providing viability gap funding and financial assistance for planting material.
 
Godrej Agrovet, Patanjali food and 3F oil palm agrotech industries account for a major chunk of the country’s oil palm plantations.
 
'For the last three years, we are adding around 11,000 hectare annually for palm plantation and by 2026, we will have around 0.1 MH under oil palm mostly in Andhra Pradesh, Telangana, Assam, Tripura, Tamil Nadu and Odisha,' said Sougata Niyogi, CEO (oil palm) of Godrej Agrovet.
 
Godrej Agrovet currently produces around 0.11 MT of crude palm oil, which will be doubling its production by 2030 as it takes about 5 – 7 years for the plantation to provide fruit for the extraction of oil.
 
Under the palm oil mission, the Tripura government signed an agreement with Patanjali Foods Limited for palm oil plantations. Hyderabad-based 3F oil palm has planned to expand its palm plantation in Assam and Arunachal Pradesh.
 
Andhra Pradesh, Telangana and Kerala are the major oil palm growing states, which account for 98% of the total production.
 
Currently, India produces about 44% of its domestic edible oil consumption requirement. Mustard (40%), soybean (24%) and groundnut (7%) are other oils that have a share in domestic production.
 
India’s annual imports are around 13-14 MT. Around 8 MT of palm oil is imported from Indonesia and Malaysia, while other oils, such as soya and sunflower, come from Argentina, Brazil, Ukraine and Russia.
 
Meanwhile, the government has been working on a plant to increase the area under sunflower production which used to be grown on 2.66 MHin 1993-94.
 
According to an agriculture ministry official, the average area under sunflower ranged from 2.1 MH in 1990-95 to 1.94 MH in 2005-2010. The area declined to 0.28 MH during 2017-18 and currently stagnated around 0.26 MH.

 Source:  financialexpress.com