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 ...
WTO removes subsidies helps Indian cotton farmers
The Dollar Business Bureau On the removal of subsidies on cotton exports by developed member countries of the World Trade Organisation (WTO), the Government of India said that it would help Indian cotton growers and prevent other countries from dumping subsidised products into India. Under the Nairobi Ministerial Declaration of WTO, the decision to eliminate subsidies on cotton exports will help the Indian exporters as it will provide an equal opportunity for local farmers, who were earlier not allowed subsidies, while other developed nations were offering the same to their farmers, the Ministry of Commerce said in a release. The Government of India is committed to the well-being of the country’s cotton farmers. To safeguard them, it has ...
Ministry planning to exempt perishable agri products from GST: Harsimrat Kaur Badal
Sai Nikesh D | The Dollar Business Harsimrat Kaur Badal, Minister of Food Processing Industries, India, has assured the food industry that the agri and food sectors would have a minimal impact of the Goods and Service Tax (GST) when it is rolled out in next year and the Ministry would try to keep perishable agri products outside the purview of GST. Badal informed about the Ministry’s plans to Alok B. Shriram, President, PHD Chamber, when he led a delegation, consisting of its Senior Vice-President, Vice-President and Executive Director Mahesh Gupta, Gopal S Jiwarajka and Saurabh Sanyal, among others at her office in New Delhi yesterday. GST is an all-encompassing tax that will absorb central taxes like Central Excise ...
Markets, not governments, should rule international rice prices: TREA
The Dollar Business Bureau | @TheDollarBiz Rice exporters have won the contest against government intervention and populist policies in Thailand. No wonder, the country notched up two points to fetch the 26th rank in World Bank’s latest Ease of Doing Business (for the year ending May 31, 2014) despite the political turmoil it has seen in the last few years. Interestingly, in the “Trading Across Borders” sub-index, Thailand has dropped three places to 36. And the country’s rice support programme, which was discontinued earlier this year by the caretaker government, could be one of the reasons. The Thai government under Yingluck Shinawatra started the ambitious rice pledging program in 2011 as a part of its electoral promise. Against the ...
Indias agri exports fastest growing in the world: USDA
Bidhu Bhushan Palo | @TheDollarBiz Growing production due to government support is behind India's agri export competitiveness, says report India’s agri exports have grown at a rate of over 21% in the last decade (2003-2013) helped by government support and a changing export matrix, according to a new report by the US Department of Agriculture (USDA). India’s rapid growth overshadows the growth rate of 15% recorded by Brazil, 12% by China and 9% by USA in the sector in the last ten years. Last year, India overtook Australia to become the world’s seventh largest exporter of agricultural products (up from the 13th position in 2003), and in terms of net exports, India is now the world’s sixth-largest net exporter of agricultural ...
India launches Reefer Vehicle Call-In Centre (RVC) to help improve food exports
Reducing inefficiencies in reefer transport will make Indias food exports more competitive in the global market, says Sushil Rathi, Senior Vice-President, Mahindra Logistics The Dollar Business Bureau | @TheDollarBiz Most of the perishable products in India are transported via non-reefer mode; existing reefer transport capacity in India covers less than 4% of total requirement With an aim to improve cold chain transport in India, the government has launched a Reefer Vehicle Call-In Centre (RVC). Complaints and data collected through the RVC will be used to address bottlenecks and build policies to control price rise and boost exports of perishable products. At the launch of the RVC last week, Radha Mohan Singh, Indias Minister of Agriculture, said that key products including fruits, vegetables, meat, ...
Lack of storage, poor transport facilities plague Indias food exports
Sachin Manawaria | @TheDollarBiz Most of the perishable food produce in India is transported through non-reefer mode India’s exports of fruits and vegetables have grown in the last three years due to surging demand in Pakistan, Kuwait, Bangladesh, and Sri Lanka. Overall, India’s exports of fruits and vegetables increased to around $1.4 billion in FY2013-14, which is up about 36% from the previous year, according to the Agricultural and Processed Food Products Export Development Authority (APEDA). However, exports could get a significant boost with improvement in storage and transport facilities, say experts. India annually suffers around Rs.550 billion as wastage of fruits and vegetables due to inadequate cold storage, supply chain infrastructure and lack of food processing in agri-sector, according ...
