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Union Commerce and Industry Minister Shri Piyush Goyal to attend G7 Trade Ministers’ Meeting in Osaka, Japan.

Oct 27, 2023

Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Shri Piyush Goyal will attend the Group of Seven (G7) Trade Ministers' Meeting in Osaka, Japan from 28-29 October, 2023. The Minister will also have bilateral meetings with a few G7 countries, invitee countries and a few International organisations such as WTO, on the sidelines of the outreach programs.

Trade Ministers of G7 Member States hold an annual meeting with the aim to meet the current global challenges related to Trade and Investment and to set the course for a better future. Under its Presidency this year for the G7 Trade Ministers meeting to be held during 28-29 October 2023, Japan has invited India along with a very few other invitee countries (Australia, Chile, Indonesia, and Kenya) to participate in the outreach program to be held on 28 October. Apart from them, International organisations such as WTO, ERIA and OECD have also been invited.

This year, Japan has selected contemporary topics for the outreach program namely, 'How to enhance Supply Chain Resilience' and 'Promote Trade and Sustainability- environment, Development and digital, including prospects for WTO MC13'.

The G7 is an intergovernmental political forum consisting of the United States, the United Kingdom, Japan, Italy, France, Canada and Germany. Additionally, the European Union (EU) is a 'non-enumerated member'. G7 meetings are organized around shared values of pluralism, liberal democracy, and representative governments. G7 Members constitute 10% of the world’s population but cater to around 40% of World GDP.

Source: pib.gov.in

Amit Shah launches national seed cooperative, moots bigger share in global trade.

Oct 27, 2023

Stressing on the need to provide farmers with quality seeds, Union Cooperation Minister Amit Shah on Thursday said the government aims to develop new varieties using traditional seeds to ensure they are only on par with the world’s highest yielding varieties, but also contain health benefits.

Launching the newly established Bharatiya Beej Sahakari Samiti Ltd (BBSSL), which was approved by the Cabinet in January, Shah said the share of India in the global seed trade is less than 1 per cent and that he was confident the seed cooperative would strengthen the country’s position.

The BBSSL has an authorised share capital of Rs 500 crore and has been established with an initial paid-up share capital of Rs 250 crore, shared equally by IFFCO, Kribhco, Nafed, National Co-operative Development Corporation (NCDC), and National Dairy Development Board (NDDB). The rest will be held by primary agricultural credit societies (PACS) and other cooperatives once they become members.

Shah unveiled the logo, website and brochure of BBSSL and distributed membership certificates.

Benefiting small farmers

The minister said that BBSSL has made a small beginning but is set to make a major contribution in India’s seeds production, conservation, promotion and research efforts.

He said small farmers, who are left out of privately controlled seed chain development, can benefit by becoming members of local PACS, which will be roped in by BBSSL for seed production. 'The entire profit made by this cooperative will be distributed among farmers directly into their bank accounts,' he announced.

Of the 787 lakh quintal seeds required annually, only 372 lakh quintal is available through organised retail, leaving an untapped potential for 415 lakh quintal (estimated value of Rs 40,000 crore), for which farmers rely on their own crops and that of their neighbours.

Highlighting the potential of the cooperative sector in the seed business, he said it should aim to grow its share from less than one per cent of certified seeds production to 33 per cent.

BBSSL will work in collaboration with ICAR, IARI, central and state agriculture universities, and Krishi Vigyan Kendras (KVKs) as there is no competition with these organisations, the minister said.

Promoting local R&D

He said seed production in India is by and large based on the technology of other countries and was confident that Indian agriculture scientists, if given a good platform, will develop varieties having the highest yield in the world. The BBSSL will also work in R&D of seeds, he added.

He pointed out that lack of access to scientifically produced certified seeds affected not only farmers but also the country’s foodgrain production.

'There is a need to conserve traditional seeds of India and distribute those among farmers to ensure health-proof production of foodgrains and other food items as well as fruits and vegetables. This task will also be performed by the seed cooperative,' Shah said.

BBSSL will focus on production, testing, certification, processing, storage, labelling, packaging and exports of seeds simultaneously, he said, adding that the entire ecosystem will use modern technology with world-class facilities.'

Source: thehindubusinessline.com

India, Saudi Arabia commerce ministers discuss ways to promote trade ties.

Oct 27, 2023

Commerce and Industry Minister Piyush Goyal on Wednesday held discussions with his Saudi Arabian counterpart Majid bin Abdullah AlKassabi on ways to further promote trade ties between the two countries. Goyal was in Riyadh for two days to attend the seventh edition of Future Investment Initiative (FII).

'Discussed how the robust India-Saudi trade ties can be further scaled to make global supply chains more resilient,' Goyal said on social platform X.

He also met Saudi Arabia Energy Minister Prince Abdul Aziz Bin Salman Al-Saud; Investment Minister Khalid A Al Falih; Industry and Mineral Resources Minister Bandar bin Ibrahim AlKhorayef; and Governor Public Investment Fund (PIF) Yassir Rummayyan.

Goyal talked about the multiple opportunities offered by India.

The bilateral trade between the countries stood at USD 52.75 billion in 2022-23 against USD 42.86 billion in 2021-22.

India received USD 3.22 billion in foreign direct investment from Saudi Arabia between April 2000 and June 2023.

Source: economictimes.indiatimes.com

Govt cuts floor price of basmati exports to USD 950 per tonne

Oct 27, 2023

The government has reduced the floor price for basmati rice exports to USD 950 per tonne from USD 1,200 per tonne amid concerns that higher prices were hurting outward shipments.

In a communication to export promotion body APEDA, the Union Commerce Ministry has said 'it has been decided to revise the price limit for registration of contract for export of basmati rice from USD 1,200 per tonne to USD 950 per tonne.'

Agricultural and Processed Food Products Export Development Authority (APEDA) has been directed to register only those contracts having value of USD 950 per tonne and above.

The government on August 27 decided not to allow exports of basmati rice below USD 1,200 per tonne to restrict possible 'illegal' shipment of white non-basmati rice in the garb of premium basmati rice.

India's total exports of basmati rice stood at USD 4.8 billion in 2022-23 in terms of price, while in volume terms it was at 45.6 lakh tonne.

Rice exporter associations have been demanding from the last two months to reduce this price, stating that India is losing its export market due to the tough price competition from neighbouring countries like Pakistan.

They have been also arguing that India's average export realisations in the last 2-3 financial years have been USD 800-900 per tonne.

On October 15, the food ministry had said the government is considering the industry's demand to reduce the floor price.

Based on representations received from the associations that the high FOB (free on board) value is adversely affecting the export of basmati rice from India, Food and Consumer Affairs Minister Piyush Goyal had attended a consultative meet with the basmati rice exporters, the food ministry had said in a statement.

Seeking to control retail prices of rice, the central government has been taking several steps to boost domestic supply.

In September last year, it banned exports of broken rice, while in July this year, it imposed restrictions on non-basmati white rice. A 20 per cent export duty was also slapped on par-boiled non-basmati rice.

With these curbs, India has imposed restrictions on all varieties of non-basmati rice.

As per the Foreign Trade Policy, APEDA is mandated to register all contracts for the export of basmati rice and then it issues registration-cum-allocation certificate for the export of basmati rice.

The basmati crop grown in kharif season has started arriving in the market and the decision to reduce the floor price will boost exports.

'Now, the new crop of basmati has started arriving and there is generally a decline in prices when the new crop starts arriving,' the food ministry had said while giving a rationale for the need for the review.

As per the final estimate, rice production is estimated to be a record 135.75 million tonnes in 2022-23 as against 129.47 million tonnes in the previous year.

According to industry, the average export prices of basmati rice stood at USD 850-900 per tonne in 2021 and 2022.

This year, it was around Rs 1,050 per tonne before the government's August 25 decision not to register contracts below USD 1,200 per tonne.

Basmati rice exporter GRM Overseas MD Atul Garg said the move will reinstate competitiveness of Indian basmati rice shipments in the global markets.

'Exporters are now working towards regaining the lost ground. As a result, the buying cycle is showing signs of getting the momentum back. The decision to cut MEP (minimum export price) of basmati rice will benefit all key supply chain stakeholders,' he said.

Rajya Sabha member from Punjab Vikramjit Singh Sahney, too, has urged the commerce ministry to cut the price.

On the decision, he said it is a big relief for exporters and farmers.

'There are almost 40 varieties of basmati rice ranging from USD 850-1,600 per tonne. Lower varieties of Basmati rice contribute to 70 per cent of the export market,' Sahney said.

Source: economictimes.indiatimes.com

Saudi Arabia and India look to boost $52bn trade partnership.

Oct 27, 2023

Saudi Arabia and India are looking to develop economic ties and boost the SR196bn ($52bn) trade relations between the two countries.

The Federation of Saudi Chambers held a Saudi-Indian roundtable to review investment opportunities in the Kingdom.

Indian Minister of Commerce and Industry Piyush Goyal, FSC Chairman Hassan Alhwaizy, Indian Ambassador to Saudi Arabia Suhel Ajaz Khan, and more than 100 representatives of Saudi and Indian entities and companies took part in the meeting that explored Indian investment prospects in sectors specified in the Kingdom’s Vision 2030, economic trends and developments in India, and the opportunities available to Saudi business owners in this country.

Saudi-India trade

Goyal said that the visit made by Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister, to India achieved historic results for relations between the two countries.

He underscored India’s unique position as an economic and investment destination for foreign investors, with its large market size exceeding 1.4bn people, and said that his country has an economic vision that targets $2tn annually in overall exports.

Goyal said that the Kingdom’s Vision 2030 and the India-Middle East-Europe Economic Corridor (IMEEC) will boost international trade and cooperation, and the volume of future investments in the two counties, highlighting the Indian companies’ desire to enter the Saudi market.

Alhwaizy highlighted India’s ongoing 75-year economic partnership with the Kingdom, and the fact that the Kingdom is India’s fourth trading partner and the second largest energy supplier; it registered SR196bn ($52bn) volume of trade in 2022, a growth of 51 per cent.

He expressed his appreciation for the Saudi-Indian Strategic Partnership Council efforts, which, he said, has brought about a major shift in the trade and investment relationship between the two countries in recent years.

He said he was looking forward to seeing new partnerships formed in:

Green hydrogen

Manufacturing

Energy

Agriculture

Food security

Healthcare

Information technology

Saudi-Indian Business Council Chairman Abdulaziz Al Qahtani said that in the course of 26 years, the council played an important role in strengthening economic relations and encouraging partnerships between business owners in the two countries, adding that India is an important market for KSA companies, and Indian investors have great opportunities in the Kingdom.

FSC and the Federation of Indian Industry signed a memorandum of understanding at the meeting, stipulating strengthening economic relations, ensuring coordination between business owners and companies in the Kingdom and India, and cooperating in trade and investment.

Source: arabianbusiness.com

DPIIT issues quality control orders for drums and tins to boost product quality.

Oct 27, 2023

The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, in collaboration with the Bureau of Indian Standards (BIS) and industry stakeholders, has been actively identifying key products for the notification of Quality Control Orders (QCO). This endeavour has resulted in the development of over 60 new QCOs, encompassing 318 product standards, including seven standards related to Drums and Tins, read the press release by the Ministry of Commerce and Industry.

Drums are cylindrical containers employed for the packaging of powders, semi-solids, and liquids, primarily for transportation and storage purposes. Tins, on the other hand, are containers constructed from tin-coated sheet metal, commonly used for packing food items in various forms, including powders, semi-solids, and liquids. Drums and tins are vital for storing and transporting a wide range of substances, including toxic, flammable, and hazardous materials, and find applications in diverse sectors such as waste management, healthcare, and food services, read the press release.

Hence, ensuring the quality of drums and tins is essential to prevent leakages, adulteration, and fire hazards. On October 20, 2023, DPIIT issued the Drums and Tins (Quality Control) Order, 2023. This QCO encompasses seven Indian Standards, addressing different aspects of these containers, read the press release.

The move aligns with Prime Minister Narendra Modi's vision of manufacturing high-quality products, as he emphasized, 'With our people's ability and the nation's credibility, Indian products of top quality will travel far and wide. This will also be a true tribute to the ethos of Aatmanirbhar Bharat - a force multiplier for global prosperity.'

DPIIT is diligently working to establish a quality control regime in India for various industrial sectors, in collaboration with BIS, the industry, and other stakeholders. QCOs are expected to raise the manufacturing quality standards in the country, bolster the brand value of 'Made in India' products, and contribute to the development of a robust quality ecosystem, read the press release. It's important to note that the standards for any product are typically for voluntary compliance, unless the Central Government notifies them, making them mandatory through the Quality Control Order (QCO) under Scheme-I and Compulsory Registration Order (CRO) under Scheme-II of the BIS Conformity Assessment Regulations, 2018.

The objective behind notifying QCOs is to enhance the quality of domestically manufactured products, prevent the importation of sub-standard products into India, and safeguard human, animal, and plant health, as well as environmental safety, read the press release. The Drums and Tins QCO will become effective six months from its notification in the E-Gazette. To support small and micro industries, relaxations have been granted regarding timelines.

Small industries receive an additional three months, while micro industries are granted an additional six months for the QCO's implementation. Furthermore, an exemption has been provided for drums and tins containing powder, semi-solid, or liquid materials when imported into India, read the press release. The implementation of these QCOs is critical for consumer safety, enhancing manufacturing quality standards, and curtailing the influx of sub-standard products into India.

These initiatives, combined with the development of quality testing labs and product manuals, will contribute to building a robust quality ecosystem in India, aligning with the government's vision of developing world-class products and achieving an 'Aatmanirbhar Bharat', read the press release. Non-compliance with the BIS Act can result in penalties, including imprisonment of up to two years or a fine of at least Rs 2 lakh for the first offence.

For subsequent violations, the fine may rise to a minimum of Rs 5 lakh and extend to ten times the value of the goods or articles.

Source: devdiscourse.com

Uttar Pradesh Gears Up for Sri Anna Mahotsav to Promote Millet Usage.

Oct 27, 2023

In a bid to raise awareness about the benefits of millets and their cultivation, the UP government is all set to host the Sri Anna Mahotsav from October 27 to 29, 2023. This three-day event, held at the Indira Gandhi Pratishthan in the state capital, aims to encourage the use of millets and recognize the efforts of progressive farmers who have contributed to millet production.

The event, coming just before the Krishi Kumbh, will witness the inauguration by Chief Minister Yogi Adityanath on its first day. The Sri Anna Mahotsav is set to be a state-level workshop where farmers from different divisions will come together to share their experiences and knowledge.

On the opening day, farmers from six divisions will converge to discuss millet cultivation and consumption. The second day will see participation from farmers in five divisions, and on the final day, seven divisions will join the event. In total, fifty progressive farmers from each division will be part of this initiative.

The primary objective of the Sri Anna Mahotsav is to create awareness among both the general public and farmers regarding the cultivation and consumption of millets within the state. Millets are gaining recognition worldwide for their numerous health benefits and their role in sustainable agriculture.

To further promote millets, approximately 40 stalls featuring various millet-based food products will be set up during the event. This will give attendees the opportunity to taste and appreciate the diverse culinary offerings derived from millets.

In addition to fostering millet awareness, the state government has announced plans to honor farmers who have made significant contributions to millet production. This recognition aims to encourage more farmers to explore millet cultivation and drive its adoption across the state.

The Sri Anna Mahotsav is not only a celebration of millets but a step towards making them a more prominent part of Uttar Pradesh's agricultural landscape. By engaging farmers, the government hopes to spark a millet revolution that will not only boost agricultural sustainability but also improve the health and nutrition of its citizens.

Source: krishijagran.com

Centre on millets gets going.

Oct 27, 2023

With the focus of the fourth agricultural road map for Bihar, launched recently by President Droupadi Murmu, being on production of millets, a centre of excellence on millets and value chain has started functioning in the state.

The centre is working with a view to increasing the area, production and productivity of millets in the state. The Rajendra Prasad Central Agricultural University (RPCAU), Pusa, Bihar Agricultural University (BAU), Sabour, the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) and the Bihar state agriculture department are all engaged in carrying out research of societal relevance.

RPCAU’s vice-chancellor P S Pandey said that over Rs 113 crore has been earmarked for this centre for a period of five years (2023-28). ICRISAT has been allotted a sum of Rs 68 crore and both RPCAU and BAU have been sanctioned Rs 7.50 crore each for the research work. The centre’s building at Gaya would be constructed by the state government at an estimated cost of Rs 30 crore, he said.

He added that the salient features of the project include development of high-yielding varieties of millets for different agro-climatic zones of Bihar and seed production of millets by institutions and through Farmers Producers’ Organizations (FPOs). The project also aims at developing location-specific crop production technologies and also developing farm machineries and primary processing and secondary processing machineries. The centre would work for the development of value chain, and market linkage of millets and capacity building, the VC said.

Head of RPCAU’s genetics and plant breeding department and project’s principal investigator (small millets) Shweta Mishra said the university has developed four varieties of finger millets (ragi), one variety each of foxtail millet (kangni) and proso millet (chena) and five varieties of Barnyard millet (sanwa) which are in seed chain. The university is also promoting cultivation of finger millet and proso millet as a summer crop. Besides, a number of other varieties of millets are in pipeline, she said.

She further added that the university has organized may awareness programmes for capacity building, seed production and value addition to millets. Two processing equipment have been developed and patented. Besides, many value-added products have been developed, of which one food formulation has got patent, she said.

Mishra said millets are climate resilient crops as they have a very low water requirement and very high water use efficiency. They can tolerate drought, high temperatures, salinity and can be easily grown in degraded soils without much effect on their yield.

In Bihar, finger millet, barnyard millet, proso millet, foxtail millet and pearl millet (bajra) are preferably grown by farmers. Many traditional food items are prepared from millets and consumed in Bihar, like madua ki roti, thekua, halwa, sanwa ki kheer, kauni ki khichdi, cheena ka madha, etc.

Source: timesofindia.indiatimes.com

‘Consumption of unbranded basmati leaving scope for adulteration’.

Oct 27, 2023

With the demand for basmatirice shooting up in the country, the premium fragrant variety is becoming a target of unscrupulous players, who are flooding the market with adulterated rice. This is not only casting a shadow on exports sometimes; it is misleading unsuspecting consumers who end up buying substandard basmati rice.

The Food Safety and Standards Authority of India (FSSAI), which has recently come out with a set of standards for this premium rice variety, has launched a nationwide awareness campaign in association with the industry to promote the quality standards.

'We have been receiving complaints, particularly from rural areas, against adulterated basmati rice and duplicate brands. We have alerted all our field officers to collect samples from supermarkets and retail outlets frequently and send them for testing,' G Kamala Vardhana Rao, Chief Executive Officer of FSSAI, said.

Addressing the 10-city national roadshow - Basmati Rice - No Compromise - virtually on Thursday, he said the authority had set the standards for basmati rice for the first time in August 2023. 'The consumption of basmati rice is increasing. So there is a need to ensure quality standards are conformed to. The standards cover quality, flavour, aroma, texture, and moisture,' he said.

Domestic offtake

Ayush Gupta, Business Head of KRBL Ltd (a leading exporter of basmati rice), said the country produced about 7.5 million tonnes of basmati rice. 'Of this, about 4.5 mt are exported and the remaining 3 mt are consumed domestically. While the hospitality sector consumes 60 per cent of the 3 mt, the remaining quantity (about 1.8 mt) is consumed by individual consumers,' he said.

He said a large chunk (1.2 mt) of the basmati rice consumed by individuals was unbranded, leaving a huge scope for adulteration. 'This is impacting the image of basmati rice. Since they are mixing it with ordinary rice varieties, they are able to sell it cheap,' he said.

Educating ecosystem

The countrywide roadshow is aimed at educating the ecosystem about the new standards and creating awareness on adulteration.

Harinder Singh Oberoi, Director of National Institute of Food Technology Entrepreneurship and Management, felt that there was a need to develop a tool kit to easily test the samples.

'We have mooted the idea with the industry. If we get funding, we can develop a simple testing equipment, which can assess the quality in a few minutes,' he said.

'Adulteration in basmati rice doesn’t mean that it will spoil the health of people. Since they mix it with other rice varieties, there are no health risks. But it is the question of deceiving the consumers,' he pointed out.

Source: thehindubusinessline.com

Ukraine exports 700,000 tons grain via new Black Sea corridor: Minister.

Oct 27, 2023

About 700,000 metric tons of grain have been exported through Ukraine's new Black Sea export corridor since it began operating in August, the Ukrainian agriculture minister said.

Ukraine launched a 'humanitarian corridor' to release ships bound for African and Asian markets, and to circumvent a de facto blockade after Russia abandoned a deal this summer that had guaranteed its exports during the war.

A senior agricultural official said later that month it was considering using the route for grain shipments.

'During the operation of the new corridor, 38 ships entered the ports and more than 30 left, not all of them with grain, of course,' the agriculture ministry quoted Mykola Solsky as saying late on Monday.

'However, we managed to export almost 700,000 tons of grain.'

The export deal brokered by the United Nations and Turkey collapsed in July as Russia declined to recognise it, saying its demand that sanctions on its grain and fertiliser exports be lifted had not been met.

Ukraine had been exporting up to 3 million tons a month of food via the corridor while it was operating, with its total food exports, including alternative routes, reaching up to 6 million tons per month.

Solsky said that in September Ukraine had also exported 2.3 million tons of agricultural goods from small Ukrainian river ports on the Danube River. He said overall food exports totalled 3.6 million tons last month.

'We need to export about 6 million tons per month to preserve our agriculture as a key sector of the economy,' Solsky said.

This volume of transportation can only be ensured by restoring the full operation of the country's deepwater ports in the Odesa region, he added.

'We see a trend towards an increase in the number of ships leaving our ports. We hope it will continue,' Solsky said.

Ukrainian agricultural producers this week said the new Black Sea corridor could enable exports of up to 2.5 million metric tons of food a month, almost offsetting the impact of Russia's decision to quit the U.N.-brokered deal.

Ukraine's shipping sources said more than 40 cargo vessels have entered the corridor so far.

Agriculture ministry data shows that as of October 23, Ukrainian grain exports were down 29.7% at 8.3 million tons in the 2023/24 July-June season so far.

Ukraine is expected to harvest 79 million tons of grain and oilseed in 2023, with 2023/24 exportable volumes of about 50 million tons, agriculture ministry estimates.

Source: timesofindia.indiatimes.com

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