Draft of new agricultural exports policy is ready: Suresh Prabhu
The Dollar Business Bureau Commerce and Industry Minister Suresh Prabhu said on Sunday that the draft of a new policy on agricultural exports is ready with the Government and it will introduce the policy soon and added that this would provide a better market for the farmers. “Better market is essential for farmers to lead a happy life. Hence, we have thought of introducing a new policy for agricultural exports,” Prabhu said while speaking at the inauguration of new chocolate factory amenity building of Campco Ltd in Puttur, Karnataka. “The draft of the policy is ready and the same will be made available online. Concerns of farmers regarding agricultural export market will end once the policy is implemented," he added. The Minister further said ...
My ministry will work on developing global supply chain for the agri-sector, Prabhu
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 ...
Preventive trade policies restrict export of key agri commodities: study
The Dollar Business Bureau The trade policy of India on agriculture has a pro-customer prejudice which indirectly taxes farmers by putting export curbs on different crops, according to a study. The domestic prices of major agricultural items were below that of export prices in most of the years during the period 2004-2014, a joint study by The World Bank and Indian Council for Research on International Economic Relations (ICRIER) on Tuesday revealed. Policy makers have used preventive trade policies to maintain the domestic prices low in most of the years, the study found after an analysis of domestic prices deviation from global prices. The study on ‘Price Distortions in Indian Agriculture’, analysed global and domestic prices of 15 agri commodities for a 10-year period between ...
No MEIS benefit on guar gum products is impacting its exports
Aamir H Kaki The modest and humble guar gum, a low-value crop grown on marginal land got transformed into one that can generate substantial income for farmers in recent years. The modest seed mostly harvested in the tropical regions of India (Rajasthan, Haryana and Gujarat) and Pakistan, used as a food crop for animals, gained international fame due to its viscosity. The innocuous looking seed/powder transformed into a product that can generate substantial income for processors, manufacturers, traders and farmers. Owing to its usefulness in food, paper, textile and in the gas and oil industries India’s export of guar gum powder, saw a steep increase from a mere $84.7 million in 2001-02 to $3,930 million in 2012-13, becoming the largest agricultural export ...
Punjab CM discusses collaborative ventures with Japan
PTI Japan and Punjab today discussed the possibility of cooperation in ventures across the fields like agriculture, manufacturing, infrastructure and commerce to boost investment in the north Indian state. The discussion took place over a formal dinner hosted by the Punjab government for a high-level Japanese business and industry delegation led by Hiramatsu-San, Ambassador of Japan to India. Addressing the delegation, Chief Minister Amarinder Singh said he was looking forward to collaborating with Japan on a wide range of projects across key segments of growth, such as manufacturing, infrastructure, commerce etc. Noting that Punjab and Japan had a huge potential for doing business together, Amarinder extended to the Japanese delegation all support in ensuring ease of business. ...
Mid-term review of FTP would be completed early to synchronise its roll out with GST, Sitharaman
Press Information Bureau Commerce and Industry Minister Nirmala Sitharaman has said that the revised Foreign Trade Policy (FTP) would be released early to synchronise the same with the roll out of GST. The core focus of the revised FTP would be promoting exports from the SMEs and high employment potential sectors. Nirmala Sitharaman was chairing a meeting on the mid-term review of the Foreign Trade Policy 2015-20 organised jointly by Department of Commerce and Research and Information System for the Developing Countries (RIS) . Commerce Secretary Rita Teaotia, Chairman RIS Hardeep Singh Puri and DGFT Ajay Bhalla also participated in discussions. The event was attended by the trade policy experts from the industry, academia, research and Government. Major suggestions discussed during the deliberations ...
Feb exports brighten foreign trade outlook
Abin Daya It appears that India’s export performance is back on the growth track once again. After two years of decline, exports might hit a marginal positive growth figure this year. The recovery of petro exports in value terms due to the rise in crude oil prices is one of the reasons for this growth. However, the much steeper rise in imports has widened the trade deficit, though the overall figure would still be lower than last year. Indian exports will continue to be affected by headwinds to the global economy, though recovery in the US economy might provide some respite. The strengthening rupee is another concern for exporters as it takes away vital price advantage available to them. Talking about individual ...
China likely to import more food grains as output declines
The Dollar Business Bureau China is expected to import more grains as compared to last year after the country’s production this year dropped by around 5.2 million tonnes and the planting area dipped and the yield per unit edged down, as per official data. In 2016, China’s total grain output stood at around 616 million tonnes, dropped by around 5.2 million tonnes (about 0.8%), compared with the previous year, according to the data released by the China’s National Bureau of Statistics (NBS). The area under grain planting in the country has contracted by about 3.15 lakh hectares, whereas the yield per unit declined by 30.7 kg per hectare, it said. Going through the unbalanced demand and supply among varieties of grain, several areas have cut ...
