Search Result for : Agri Exports

The Dollar Business Bureau Commerce and Industry Minister Suresh Prabhu said on Monday that India needs a new agricultural exports policy focussing on enhancing the exports of agricultural products from the country and to increase the incomes of the farmers. “A new agricultural exports policy is required that lays focus on increasing exports of value-added agricultural products so that farmers can access international markets and increase their income,” Prabhu said while speaking at the 3rd meeting of Council of Trade Development and Promotion in New Delhi. Prabhu further emphasised on the participation of states to explore ways for tapping into global trade, which is pegged at around $5 trillion, by promoting exports of services, value addition to agricultural products, organic farming, utilisation of the ...

The Dollar Business Bureau The Commerce and Industry Ministry will soon bring in a policy framework for facilitating access to global markets for the Indian agriculture produce, Union minister Suresh Prabhu said while addressing an agri summit. Prabhu, who took charge as Commerce and Industry Minister recently, said that his ministry will work on developing global supply chain for the agriculture sector.  Addressing the agri summit the minister said that multilaterally there is also need to work on removing trade restrictions with an aim to boost Indias agri exports. "If they (farmers) produce something, they (should) get an access to global market and get better prices for that, and for that we will put in place a good policy framework very soon," Prabhu said. "We have ...

The Dollar Business Bureau With the GST regime just around the corner, agri exporters have raised concerns to the Commerce Ministry regarding their working capital issues.  The government had announced doubling the tax on fertilisers to 12% under the GST regime, which is likely to hit both the farmers, the manufacturers and the exporters. Presently fertilisers attract an excise duty of 1% with a value added tax upto 5%. Ironically natural gas the key raw material in the making of urea has been kept out of the GST ambit. And fertiliser companies cannot claim input tax credit on finished goods as natural gas is out of the GST purview. This could lead to a cascading effect as natural gas which usually attracts ...

The Dollar Business Bureau The government is planning to merge all the commodity boards and establish an umbrella organisation, a decision aimed at improving production and exports of crops such as coffee, tea and spices. The Ministry of Commerce pointed out that some of these commodity boards were established prior to independence, but their merger could harmonise their activities, leading to enhanced exports. The five commodity boards are responsible for output, development and outbound shipments of coffee, rubber, spices, tea and tobacco. “India has a huge potential to boost agri exports. One board will provide better services. So, we are working to form one specialised body with different verticals,” according to a senior commerce ministry. The Coffee Board was constituted in accordance with the Coffee ...

The Dollar Business Bureau  Underlining that Afghanistan’s farm production and exports have been on a growth trajectory, Afghanistan on Tuesday invited Indian businesses to invest in the country’s agriculture sector and emphasised that it offers vast opportunities in its manufacturing, marketing, packaging and processing of farm products. "Rebuilding trade relationships and expanding export markets for Afghan products are critical for Afghanistan’s job creation, capital flows and overall stability," said Abdul Qadeer Jawad, Afghanistan’s Deputy Minister for Ministry of Agriculture, Irrigation and Livestock. The Minister pointed out that Afghanistan is committed to producing agri-products in line with WTO norms. The country will become the 164th official member of the WTO on July 29. “Afghanistan is looking for potential investors in the areas of agriculture manufacturing and ...

The Dollar Business Bureau India’s exports of various agriculture commodities, including coffee, tea, rice and cashew fell in the month of May in the wake of declining commodity prices globally. Oil meals, cereals, dairy and poultry products also witnessed a negative growth during May. In total, 7 out of 13 key agriculture commodities that are closely watched by the ministry of commerce, were falling. On the other hand, experts from the industry are hopeful that the global prices of commodities would gradually become stable, which in turn, help in boosting exports of agricultural products. Ajay Sahai, DG & CEO, Federation of Indian Export Organisation (FIEO), said, “Prices of agriculture products would start becoming stable. It would help in pushing up agri exports.” ...

Sharath Chowdary Hyderabad chapter of The Indus Entrepreneurs (TiE) organised a summit on Agri Innovation Summit for the benefit of entrepreneurs and startups in Agri-tech industry. The objective was to bring together policy makers, influencers, entrepreneurs, academicians, researchers, progressive farmers, investors, all under one roof to deliberate, discuss and find ways and means to rejuvenate India’s past glory.  Emphasising on the summit’s objective, Challa said, “During the Budget speech, Union Finance Minister has boldly addressed that farmers’ income will double in the next five years. Thus, keeping in mind the vision, TiE Agri- Innovation Summit is initiated.” He was of the opinion that, a way to achieve the vision is by increasing productivity and reducing inefficiency in the system, which will make ...

There is a need for a long-term sustainable policy for attracting more investments in the sector and increasing private partnerships in rural and remote areas, says D S Rawat, ASSOCHAM General Secretary The Dollar Business Bureau The State's mine owners recently had written to the Prime Minister Narendra Modi, requesting him to abolish the export duty   Aided by factors like policy stabilization, institutional support, awareness about safety norms and infrastructure development, Indias agricultural exports are expected to cross $300 billion mark by 2023, projected an Associated Chamber of Commerce and Industry (ASSOCHAM) study. During the past decade, the countrys agri exports (including tea, coffee and marine products) have grown almost eight times from around $5 billion in 2003 to over $39 billion in ...