India is well on track to achieve a merchandise export target of 400 billion US dollars in 2021-22 after the pandemic-induced slump of the previous year, with strong capital flows into India leading to a rapid accumulation of foreign exchange reserves, according to the Economic Survey 2021-22 released on Monday.

 

The annual survey report tabled in Parliament by Finance Minister Nirmala Sitharaman noted that the resilience of India’s external sector during the current year augurs well for growth revival in the economy.

 

It, however, cautions that the downside risks of global liquidity tightening and continued volatility of global commodity prices, high freight costs, coupled with the fresh resurgence of COVID-19 with the new variants may pose a challenge for India during 2022-23.

 

The survey states that owing to the recovery of global demand coupled with a revival in domestic activity, India’s merchandise exports and imports rebounded strongly and surpassed pre-COVID levels during the current financial year.

 

The revival in exports was also helped by timely initiatives taken by the Government. The USA followed by the UAE and China remained the top export destinations in April-November, 2021, while China, the UAE and the USA were the largest import sources for India.

 

Despite weak tourism revenues, there was a significant pickup in net services receipts during April-December, 2021 on account of robust software and business earnings, with both receipts and payments crossing the pre-pandemic levels.

 

The Economic Survey notes that the first half of the calendar 2021 witnessed an acceleration in the global economic activity that lifted the merchandise trade above its pre-pandemic peaks.

 

It says that India’s merchandise exports have followed the global trend and during April – December 2021 the merchandise exports grew by 49.7 per cent, compared to the corresponding period of last year and 26.5 per cent over 2019-20 (April-December).

 

The survey mentions that India has already attained more than 75 per cent of its ambitious export target of $400 billion set for 2021-22, and is well on the track to achieve the target.

 

It says that sharp recovery in key markets, increased consumer spending, pent-up savings and disposable income due to the announcement of fiscal stimulus by major economies, and an aggressive export push by the Government have bolstered exports in 2021-22. 

 

esponding period of last year. The Survey recommends that a push in the direction of Free Trade Agreements would help provide the institutional arrangements for India’s exports diversification.

 

On the issue of merchandise imports, the Economic Survey states that India witnessed a revival in domestic demand resulting in strong import growth. Merchandise imports grew at the rate of 68.9 per cent in April-December, 2021 over the corresponding period of last year and 21.9 per cent over April-December 2019, crossing the pre-pandemic level.

 

The survey indicates that there has been increased diversification of India’s import sources as reflected in the reduction of China’s share to 15.5 per cent from 17.7 per cent in the April-November period. The Survey indicates that the merchandise trade deficit has increased to $142.4 billion in April-December 2021.

 

India has maintained its impressive performance in world services trade in the post-COVID-19 period, with services exports growing by 18.4 per cent to $177.7 billion during April-December 2021 for the corresponding period of last year. The Survey says that the strong growth witnessed in services exports may also be attributed to key reforms undertaken by the Government. Services imports rose by 21.5 per cent to $103.3 billion in April-December 2021.

 

The Economic Survey says that India’s current account balance turned into a deficit of 0.2 per cent of GDP in the first half of 2021-22, largely led by a deficit in the trade account. Net capital flows were higher at $65.6 billion in the first half of 2021-22, on account of continued inflow of foreign investment, revival in net external commercial borrowings (ECBs), higher banking capital and additional special drawing rights (SDR) allocation.

 

India’s external debt rose to $593.1 billion at the end of September 2021, from $556.8 billion a year earlier, reflecting additional SDR allocation by IMF, coupled with higher commercial borrowings.

The Economic Survey on Monday pitched for giving a push to the ongoing negotiations for the proposed free-trade agreements (FTAs) as these pacts will help in diversifying the country's export basket and destinations.

 

It added that India has diversified its export destinations in the past 25 years, yet more than 40 per cent of the country's exports is still accounted for by only seven countries.

 

India has been negotiating FTAs with several partners, both bilateral and regional, for the past many years with a view to promote India's exports.

 

'A further push in this direction would help provide the institutional arrangements to, inter alia, diversify both products and destinations,' it said.

 

In a free-trade pact, two countries either significantly reduce or eliminate customs duties on the maximum number of goods traded between them. These pacts help provide a competitive edge to exporters.

 

Trade experts have stated that early conclusion and implementation of these agreements will help in boosting the country's exports.

 

India is negotiating such FTAs with countries including the UK, Australia, European Union (EU), Canada and the UAE. It is also reviewing its existing trade agreements with nations such as Singapore and ASEAN.

 

'Negotiations are complete for agreement with the UAE and at the advance stage with Australia,' the Survey said.

 

It also stated that India's merchandise exports touched USD 301.4 billion during April-December this fiscal.

 

'This shows that India is well on track as far as attaining the export target is concerned,' it said adding that out of an ambitious export target of USD 400 billion set for 2021-22, India has already attained more than 75 per cent.

 

'Sharp recovery in key markets; increased consumer spending; pent-up savings and disposable income due to the announcement of fiscal stimulus by major economies; global commodity price rise and an aggressive export push by the government have bolstered exports in 2021-22,' it added.

 

Initiatives like Remission of Duties and Taxes on Exported Products (RoDTEP), Developing District as Export Hub, and production-linked incentive (PLI) scheme will help in pushing the country's exports and manufacturing.

 

The Survey said that owing to the recovery of global demand coupled with a revival in domestic activity, India's merchandise exports and imports rebounded strongly and surpassed pre-COVID-19 levels during the current financial year.

 

The US, followed by the UAE and China, remained the top export destinations in April-November 2021, while China, the UAE and the US were the largest import sources for India.

 

It added that China's share in India's imports has reduced to 15.5 per cent April-November 2021, from 17.7 per cent in the corresponding period of the previous year, which reflects increased diversification of India's import sources.

 

Further, it said that a strong rebound in exports and imports have led to an increase in the merchandise trade deficit.

 

It stood at USD 142.4 billion in April-December 2021, compared with USD 61.4 billion in the year-ago period.

 

Talking about global trade, it said that overall, the balance of risks for global trade is tilted to the downside and the biggest downside risk emanates from the pandemic itself, particularly with the resurgence of new variants such as Omicron.

 

In addition to the surge in global inflation, longer port delays, higher freight rates, shortage of shipping containers, shortage of inputs such as semiconductors, with supply-side disruptions being exacerbated by a recovery in demand, pose significant risks for global trade.

 

'Against this backdrop, India's external sector has shown immense resilience during the year, which augurs well for growth revival in the economy,' it added.

 

On services trade, the Survey said India's services exports recorded growth of 18.4 per cent to USD 177.7 billion during 2021-22 (April-December).

 

'This is mainly on account of the top-three computer, business and transportation services that constitute more than 80 per cent of total services exports,' it added.

 

India’s Ambassador to Ireland, Akhilesh Mishra believes there is need for re-imagining the relationship between the countries, with broader and strategic vision. Even though India’s focus has traditionally been on the UK, as far as Europe is concerned, strong cultural and economic ties with Ireland has helped forge bilateral trade worth 1 billion euros and trading services worth 4 billion euros.

 

Sharper focus on the opportunities which Ireland offers to us. It is a country with just 5 million people and 2.3 million workers but has built an economy of close to half-a-trillion dollars. India has a lot to gain in terms of trade. The sectors that look promising are MedTech, pharma, aerospace, MRO in the B2B segment. We can consider introducing joint programmes tailored to meet shortages in Ireland in the education and research segment and also encourage start-ups and performing arts,’ said Mishra.

 

At present, India exports organic chemicals, textiles, medical devices, plastic and rubber amongst other things to Ireland. It imports machinery and mechanical appliances, telecommunications equipment, computer accessories and precision equipment.

 

'With the objective of boosting trade ties, we need to build relations from the ground level. We are reaching out to various line ministries, mayors of various counties, MPs and major business associations in Ireland. After we identify interested Irish entities, we will engage with relevant state governments in India,’ Mishra added.

 

There are around 45,000 Indians in Ireland and 5,000 students. The Deputy Prime Minister of Ireland — Leo Eric Varadkar — has Indian connections. He will become the Prime Minister this year.

 

Ties between India and Ireland date back to 19th century. The Irish played a role in the fields of education, medical science and engineering in India. Ireland’s constitution experts influenced the drafting of India’s constitution. Directives of state policies have been borrowed from the Irish constitution.

 

India has been encouraging Ireland to take part in its flagship programmes like Make in India, Digital India, Clean India. Indian companies in Ireland include Crompton Greaves, Wipro, TCS, Shapoorji Pallonji, Tech Mahindra and others. Irish companies in India include Diageo, Glanbia, Keventer, ICON, Kerry Group, Quinn Property among others.

 

'We would like to focus on virtual connect and consultations between India and Irish parties, first to do due diligence and build understanding before actual, in-person exchange of delegations,’ Mishra said. India can look at Ireland as the country that connects it with the EU and also has proximity with the UK. It also offers trans-Atlantic connectivity with the US and Canada.

India’s export of final consumer food products such as Ready to Eat (RTE), Ready to Cook (RTC) and Ready to Serve (RTS) under the APEDA basket has registered a significant growth in the last one decade.

 

With the Ministry of Commerce & Industry laying thrust on Value Addition of products for exports, the food products under the RTE category have registered an Compound Annual Growth Rate (CAGR) of 12 per cent in the last one decade and the share of RTE in APEDA export has increased from 2.1 per cent to 5 per cent during the same period.

 

The export of products under Ready to Eat (RTE), Ready to Cook (RTC) and Ready to Serve (RTS) segment have registered an CAGR of 10.4 per cent from 2011-12 to 2020-21. India exported more than $ 2.14 billion worth of final food products in 2020-21. Since final food products are time saving and readily available, the demand for food items under the categories of RTE, RTC and RTS has increased manifold in recent years.

 

The export of products under RTE, RTC and RTS categories rose by more than 23% to $ 1011 million in April – October (2021-22) compared to $ 823 million reported in April – October (2020-21). In view of this, export of RTE/RTC and RTS for last three years is placed in below graph.  

 

According to the latest Directorate General of Commercial Intelligence and Statistics data, India exported final food products which includes RTE, RTC and RTS, worth USD 5,438 million in the last three financial three years (2018-19 and 2020-2021).

 

In 2018-2019, India recorded RTE exports of USD 766 million, which rose to USD 825 million in 2019-20 and USD 1043 million in 2020-21. Meanwhile, the RTC food products recorded an export of USD 473 million in 2018-19, USD 368 million in 2019-20 and USD 560 million in 2020-21. A comparative analysis of RTE/RTC and RTS for the current year, April--October (2021-22) against previous years for the same periods is placed in below graph. Export value of RTE/RTC and RTS has increased in 2021-22 against previous year.  

 

The RTS food category registered an export of USD 436 million in 2018-19, USD 461 million in 2019-20 and USD 511 million in 2020-21.

 

The products covered under RTE category, includes Biscuits & Confectionery, Jaggery, Breakfast Cereals, Wafers, Indian Sweets and Snacks, Pan Masala & Betal Nuts etc. The Biscuits and Confectionery and Indian Sweets and Snacks constitute a major share of 89% in the RTE export in 2020-21.

 

The share of each category in RTE export are 52.32% (Biscuits & Confectionery), 1.52% (Jaggery), 4.11% (breakfast cereals), 1.73% (wafers), 37.04% (Indian sweets and snacks), and 3.28% (Pan Masala and Betal nuts).

 

The growth rate of RTE in 2020-21 against previous year was 26% while growth in Biscuits & Confectionery category recorded at 28.87%, Jaggery at 48.18%, Breakfast Cereals at 4.24%, Indian sweets and snacks at 29.75%, Pan Masala and B’nuts at 4.2% for the same period.

 

Notably more than 56% of RTE food products were exported to top 10 countries in 2020-21. USA is the top importing country in four categories of RTE products such as Biscuits & Confectionery (USD 79.54 million), Breakfast cereals (USD 5.33 million), Indian sweets and snacks (USD 99.7 million), Pan Masala & Betal Nuts (USD 5.95 million) while the remaining two products under RTE are significantly imported by Malaysia and Nepal. Malaysia imported Jaggery worth of USD 5.09 million and Nepal imported Wafers worth of USD 3.5 million in 2020-21.

 

The major destination of RTE export as per 2020-21 data are U.S.A (18.73%), U.A.E (8.64%), Nepal (5%), Canada (4.77%), Sri Lanka (4.47%), Australia (4.2%), Sudan (2.95%), U.K (2.88%), Nigeria (2.38%), Singapore (2.01%).

 

The RTC food products have been growing at CAGR of 7 per cent in the last one decade and the share of RTC in APEDA export has increased from 1.8 per cent to 2.7 per cent in the same periods. The major categories of food products covered under RTC are ready to cook, papad, flours and milled products and powder and starch. The category-wise share in RTC export is ready to cook (31.69%), papad (9.68%), flours and milled products (34.34%) and powder & starch (24.28%).

 

The growth rate of RTC in 2020-21 against previous year is 52 per cent while category wise growth rate of RTC is highest for powder and starch (174%) followed by Flours and Milled Products (36%), Ready to Cook (35%) and Papad (19%) in 2020-21 against previous year.

 

Above 74% of RTC food products were exported to top 10 countries in 2020-21 and USA is the top importing country of Flours and Milled Products and Ready to Cook from India in 2020-21 while two countries namely UK and Indonesia are at the top in importing of Papad and Powder & Starch during 2020-21.

 

The major exporting destination for RTC export in 2020-21 are U.S.A (USD 18.62 million), Malaysia (USD 11.52 million), U.A.E (USD 8.75 million), Indonesia (USD 7.52 million), UK (USD 7.33 million), Nepal (USD 5.89 million), Canada (USD 4.31 million), Australia (USD 4.2 million), Bangladesh (USD 3.43 million) and Qatar (USD 2.76 million).

 

In the category of RTS, the export has been growing at an CAGR of 11 per cent in the last one decade. The major final food products under the RTS category include jellies, squash & juices, other beverages, energy products/drinks and ice cream, soups, sauces, pasta and seasoning. The share of RTS has increased from 1.1 per cent to 2.5 per cent in last one decade.

 

The growth rate of RTS in 2020-21 against previous year (2019-20) is 11 per cent while category-wise growth rate of RTS is highest for Energy Products/Drinks (31.10%) followed by Ice Cream, Soups, Sauces, Pasta and Seasoning (19.34%), other beverages (14.12%).

 

The rise in export of agricultural and processed food products has been largely due to the various initiatives taken by APEDA such as organizing B2B exhibitions in different countries, exploring new potential markets through product specific and general marketing campaigns by active involvement of Indian Embassies.

 

APEDA has also taken several initiatives to promote geographical indications (GI) registered agricultural and processed food products in India by organizing virtual Buyer Seller Meets on agricultural and food products with the major importing countries across the world.

 

In order to ensure seamless quality certification of products to be exported, APEDA has recognized 220 labs across India to provide services of testing to a wide range of products and exporters.

 

APEDA also assists in upgradation and strengthening of recognized laboratories for export testing and residue monitoring plans. APEDA also provides assistance under the financial assistance schemes of infrastructure development, quality improvement and market development for boosting export of agricultural products.

The Economic Survey 2021-22 was tabled in Parliament on Monday by Finance Minister Nirmala Sitharaman soon after the President's address to both Houses of Parliament. The survey, presented a day before the Union Budget, underlines the state of the economy and outlines suggestions for policy actions.

 

'India’s GDP is projected to grow in real terms by 8.0-8.5% in 2022-23,' said the Survey. Growth will be supported by 'widespread vaccine coverage, gains from supply-side reforms and easing of regulations, robust export growth, and availability of fiscal space to ramp up capital spending,' it added.

 

Here are the key highlights from the Economic Survey 2022:

 

GDP growth rate projected in the range of 8-8.5% for the next fiscal 2022-23 (FY23)

Growth projections based on oil price projection of $70-75 per barrel next fiscal, against current price of $90

 

Agriculture least hit by pandemic, sector to grow by 3.9% in 2021-22 after growing 3.6% the previous year

 

Disruptions in the global container market not yet over; will continue to impact the global sea trade.

 

Crop diversification towards oilseeds, pulses and horticulture needs to be given priority

Inflation on everyone's mind: Eco Survey flags global resurgence of inflation, warns of imported inflation

 

The Survey also went into detail on the government's use of the Barbell approach to COVID-19, saying that this 'helped make it possible to target the vulnerable sections/businesses better, keeping the pandemic's economic toll at much less than what could have been'

Industrial sector likely to grow at 11.8%.

 

Survey pegs services sector to see 8.2% growth in 2021-22

 

Expenditure on social services rises by 9.8% to Rs 71.61 lakh crore in FY22

 

Government consumption is estimated to grow by a strong 7.6% surpassing pre-pandemic levels.

India’s total exports are expected to grow by 16.5% in 2021-22 surpassing pre-pandemic levels.

Imports are expected to grow by 29.4% in 2021-22

 

Consumption has grown 7% in 2021-22 with a significant chunk of it thanks to government spending.

Middle-class borrowing to own houses well below the 21.1% growth year-on-year; also below the level of the last four years

 

Pandemic, job uncertainty continues to make people wary of EMIs, with home loans registering 8% growth in Novemeber 2021, 0.4% below 2020

 

Railways: Rs 65,157 crore capital expenditure from April to November 2021; capex outlay in the ongoing financial year is at Rs 2.15 lakh crore, which is five times the 2014 level.

 

'Railways capex will increase further in coming years and emerge as an engine of national growth,” the survey says.

 

India has third largest startup ecosystem in the world after US and China.

 

In April-November 2021 Rs 89,066 crore was raised via 75 IPO issues versus 29 companies which raised Rs 14,733 crore in the same period in 2020

 

Forex, low current account deficit and capital inflows keeping external sector well supported

Share of individual investors in total NSE turnover increases to 44.7%

 

221 lakh individual Demat accounts added between April-November 2021

 

UPI takes centre stage, with the country seeing 4.6 billion transactions worth Rs 8.26 lakh crore in December 2021 alone

 

In April-November 2021, UPI processed more than 24.26 million One Time Mandate create transactions worth Rs 44,381 crore.

 

Rs 1.81 lakh crore raised through equity issues

 

'Rate transmission has been higher in public sector banks than in private sector banks in the current monetary easing cycle,' says the Survey

 

Housing sales expected to see a boost after COVID-19 slump on the back of reduced duties in multiple states

 

Five sectors capture around 83% of the aggregate pipeline value: Roads (27%), Railways (25%), Power (15%), Oil & Gas pipelines (8%) and Telecom (6%)

 

Government finances to witness consolidation in 2021-22, after uptick in deficit and debt indicators in the previous year

 

'Climate finance will remain critical to successful climate action by developing countries, including India,' says the Survey

 

India's exports to China have increased about 34 per cent to USD 22.9 billion in 2021 from USD 17.1 billion in 2019, according to data from the commerce ministry. Imports, on the other hand, rose 28 per cent to USD 87.5 billion in 2021 as against USD 68.4 billion in 2019.

 

According to the data, the trade deficit has increased to USD 64.5 billion last year as compared with USD 51.2 billion in 2019.

 

Trade experts have stated that India's exports to China have increased at a faster pace than that of its imports from China in 2021 when compared with the normal year of 2019.

 

Khalid Khan, vice-president of the Federation of Indian Export Organisations, said the huge export potential is there for Indian exporters in China.

 

'Our exporters are doing quite good in China. We can push our exports further,' Khan said.

 

The share of raw material, intermediate goods and capital goods imports from China increased in 2021 as compared to 2019, whereas imports of consumer goods have fallen from 14.7 per cent in 2019 to 10.4 per cent in 2021, another expert said.

 

Further, in 2021, the US has taken a top slot as India's merchandise trade partner with a value of USD 112.3 billion. America was followed by China (USD 110.4 billion), UAE (68.4 billion), Saudi Arabia (USD 35.6 billion), Switzerland (USD 30.8 billion), and Hong Kong (USD 29.5 billion).

 

'There is a shift in the growth pattern of trade in 2021 with respect to 2020. In the post-COVID-19 period, India's merchandise trade with all other top trading partners except for Hong Kong and Singapore have registered growth higher than that of the growth registered with China in 2021 over 2020,' an expert added.

 

The love and trend for food and beverage have considerably multiplied on the worldwide front over the period of time and the trend is changing day by day. Over the past few decades, the food and beverage business has seen majestic growth and is projected to expand to a magnificent extent.

 

The retail sales for attire, white product, and footwear are decreasing globally and area units replaced by the food and beverage industry.

 

The change in the demand for beverages by native people as well as by tourists is due to globalisation and cultural diversification. This makes the food and beverage industry is more competent and more innovative with their products. The indeed required critical thinking makes the market more diverse in terms of creativity in beverages and selection of the ingredients. Just thinking of the above discussion one more important term strikes the mind -Functional Beverages.

 

Ready-to-drink beverages that are non-alcoholic and comprise non-traditional ingredients are referred to as ‘functional drinks’. Functional drinks comprise a couple of common ingredients like minerals, herbs, some raw fruits or vegetables. The health-related advantages offered by functional drinks are far more than the daily organic process intake.

 

Improved heart health, system strengthening, improved psychic energy, improved bone health, steroid and alcohol management, and different health-related advantages associated with eye health and vision. Dairy, increased fruit drinks and juices, ready-to-drink tea, energy drinks, functional milk, soy beverages, and sports and performance drinks are the foremost common forms of functional drinks.

 

The global functional beverage market is estimated to reach $208 billion by 2026, expanding at a CAGR of around 9% during the forecast period, 2020 – 2026. The growing shopper inclination towards the consumption of functional beverages is principal because of the rising demand for non-alcoholic beverages. Functional drinks are being most popular over effervescent drinks and fruit juices by shoppers.

 

For gaining a footing within the market corporations are springing up with new innovations. For varied blessings of functional beverages, the shoppers are willing to pay a premium that is one every of the most important blessings of functional beverages. Some facts and figures about the UAE retail sale revenue.

 

As reported by Euromonitor, in 2018, UAE retail sales value of soft drinks reached $5.1 billion. From 2013 to 2018, UAE retail sales of soft drinks grew with CAGR of around 5.7%. The largest category in this group was bottled water, juice and carbonated water. It is also worth mentioning that Ready to Drink (RTD) coffee had the highest CAGR of 22% between 2013 and 2018.

 

'The Arab Beverages Conference returns to the UAE following a great success last year, the conference offers networking opportunities and promotes discussion among hundreds of participants from the beverage industry and it supporting industries from all around the world. The Arab non-alcoholic beverages industry is now one of the fastest-growing industries in the Arab world, playing a vital role in the Arab countries economies, catering to over 300 million consumers in the Arab region alone, with a production volume of over 10 billion liters per yea' stated the chairman of the Arab Beverage Association Monther Al Harthi.

New Delhi: India and the United Kingdom on Friday concluded the first round of negotiations, for a bilateral Free Trade Agreement (FTA), the commerce and industry said in a Joint Outcome Statement.

 

The talks covered 26 policy areas including trade in goods and services such as financial services and telecommunications, investment, intellectual property, customs, sanitary and phytosanitary measures, technical barriers to trade, gender, sustainability and geographical indicators.

 

'Both teams maintain a shared ambition to conclude negotiations by the end of 2022- as part of both sides’ efforts to secure a comprehensive agreement,' the ministry said in a statement, adding that the negotiations were 'productive'.

 

The negotiations were held virtually for over weeks and saw the coming together of technical experts from both counties for discussions in 32 separate sessions.

 

India and the UK formally launched negotiations for an FTA earlier this month with an aim to put an interim agreement in place by mid-April followed by a comprehensive deal by the end of the year.

 

The second round of negotiations is due to take place on March 7-18.

 

Indian exporters have shipped out around 17 lakh tonnes (lt) of sugar in the October-December quarter of the current sugar season 2021-22 as compared to 4.5 lt in the same period last year, an increase of around 277 per cent. According to the Indian Sugar Mills Association (ISMA), the apex trade body, another 7 lt was in the pipeline for exports during January 2022.

 

Indian exporters have contracted have already signed about 38-40 lt of sugar for exports, but a decline in global prices have forced them to take the wait-and-watch approach. Global raw sugar prices have slumped to a five month low at around 18 cents per pound amidst news of expectedly better upcoming season 2022-23 (April-March) in Brazil.

 

'Indian mills are still waiting for the opportune time and are in no hurry to enter into further export contracts beyond 38-40 lt which have already been signed so far,” ISMA said in a note on Monday.

 

More number of mills in operations

This is even as sugar production in the country till from October 1 to January 15 registered a six per cent increase at 151.41 lt as compared to 142.78 per cent in the same period last sugar season. The increase is mainly on account of more number of mills in operations this year at 504 as compared to 487 in the same period last year.

 

In Maharashtra, sugar production has increased to 58.84 lt till mid-January this year as against 51.55 lt in the same period last season, an increase of 14 per cent. However, in Uttar Pradesh the production is trailing last year’s levels at 40.17 lt as compared to 42.99 lt in the same period last season.

 

In Karnataka, the third largest sugar producing State, output has increased to 33.20 lt as of mid-January this season as compared to 29.80 lt in same period last season. ISMA further said that the second advance estimates of sugar production for the 2021-22 season would be released by the end of January.

 

The Federation of Indian Exports Organisations (FIEO) is organising a webinar on 'Focus on Geographical Indication for Agricultural Products' on 4th February, 2022 at 3pm. 

 

The topic of discussions are to learn the criterion for identifying GI products, importance & International scenario of GI products and success stories of GI products, and registration link is https://t.co/EC6l05Kyhv.

 

Understanding the importance of GI products on an international level will help domestic agro product to boost exports and get an edge in the global trade. 

 

Participation in the webinar is free of cost and for any query, contact PT Srinath, Joint Director & Telangana Head on following contact details: 91-40-23210380, 9831726300, fieohyd@fieo.org, ptsrinath@fieo.org.

 

Geographical Indications of goods are defined as that aspect of industrial property which refers to the geographical indication referring to a country or to a place situated therein as being the country or place of origin of that product. 

 

Typically, such a name conveys an assurance of quality and distinctiveness which is essentially attributable to the fact of its origin in that defined geographical locality, region or country. 

 

Darjeeling Tea, Kangra Tea, CoOrg Orange, Mysore Betel leaf, Nanjanagud, Banana, Mysore Jasmine, Navara Rice, Palakkadan Matta Rice, Malabar Pepper, Allahabad Surkha, Monsooned Malabar, Arabica and Robusta Coffee, Coorg Green, Cardamom, Eathomozhy Tall Coconut, Dharwad Pedha, Pokkali Rice, Laxman Bhog, Mango and Naga Mircha, etc  are products that have GI status.