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Maldives Thanks India For Essential Exports

Maldivian minister Moosa Zameer stated that the decision by India demonstrates the longstanding friendship between two countries and the strong commitment to further expand bilateral trade and commerce.

Responding to Maldivian minister Moosa Zameer remarks thanking India for the decision to export essential commodities to the island nation for the fiscal year 2024-2025, Union minister S Jaishankar has reiterated New Delhi’s commitment to its policies of neighbourhood first and SAGAR.

Zameer stated that the decision by India demonstrates the longstanding friendship between two countries and the strong commitment to further expand bilateral trade and commerce.

In a post on X, Zameer said “I sincerely thank EAM @DrSJaishankar and the Government of #India for the renewal of the quota to enable #Maldives to import essential commodities from India during the years 2024 and 2025. This is truly a gesture which signifies the longstanding friendship, and the strong commitment to further expand bilateral trade and commerce between our two countries.”

In response to the Maldives Minister of Foreign Affairs’ post on X, External Affairs Minister (EAM) Jaishankar wrote, “You are welcome, FM @MoosaZameer. India stands firmly committed to its Neighbourhood First and SAGAR policies.”

India’s ‘Neighbourhood First policy’ guides its approach towards the management of ties with countries in its immediate neighbourhood – Afghanistan, Bangladesh, Bhutan,

Maldives, Myanmar, Nepal, Pakistan and Sri Lanka. The policy is aimed at enhancing physical, digital and people-to-people connectivity across the region and augmenting trade and commerce.

In a post on X, the Indian High Commission in the Maldives on Thursday stated that the quotas for each of these items have been revised upwards.

“Upon the request of the Government of Maldives, the Government of India has allowed for export of certain quantities of essential commodities for the year 2024-25 under a unique bilateral mechanism, wherein, the quotas for each of these items have been revised upwards,” the Indian High Commission in Maldives posted on X.

Notably, the approved quantities are the highest since this arrangement came into effect in 1981.The quota for river sand and stone aggregates, crucial items for the booming construction industry in the Maldives, has been increased by 25 per cent to 1,000,000 metric tonnes.

There has also been an increase of 5 per cent in the quotas for eggs, potatoes, onions, sugar, rice, wheat flour and dal (pulses). Moreover, last year as well, India continued to export rice, sugar and onions to the Maldives despite a worldwide ban on the export of these items from India.

“India remains strongly committed to supporting human-centric development in the Maldives, as part of its ‘Neighbourhood First’ policy,” the statement by the Indian High Commission in Maldives stated.

Notably, ties between India and the Maldives had become strained since Maldives President Mohamed Muizzu assumed office. He criticised India during and after the presidential polls and his government also formally requested India to withdraw its troops from Male.

However, in March, Muizzu requested New Delhi for debt relief measures, while stating that India would continue to remain the Maldives’ “closest ally,” local media reported. He further claimed that he has “not taken any action nor made any statements” that may strain the relationship between the two countries.

In an interview with local media ‘Mihaaru’, Muizzu said that he hopes India will accommodate debt relief measures for the Maldives’ in the repayment of the hefty loans taken from the country over consecutive governments, Adhadhu reported.

“The conditions we have inherited are such that there are very large loans taken from India. Hence, we are holding discussions to explore leniencies in the repayment structure of these loans. Instead of halting any ongoing projects, proceed with them at speed. So I see no reason for any adverse effects [on Maldives-India relations],” he said. (ANI)

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Business India News

India to export over $23 bn agricultural goods

The APEDA also plans to raise awareness among the stakeholders in the food export industry by showcasing its impact on human beings through different digital platforms, including social media sites…reports Asian Lite News

India has set a goal of exporting $23.56 billion worth of agricultural products in 2022-23, the Ministry of Commerce and Industry said in a statement released on Sunday.

APEDA, which is an export promotion organisation for agricultural products of the Ministry of Commerce & Industry has created an outreach strategy for the promotion of agricultural exports in order to reach the USD 23.56 billion export goal. Under this strategy, 300 events will be organised in the current year to increase exports.

The APEDA also plans to raise awareness among the stakeholders in the food export industry by showcasing its impact on human beings through different digital platforms, including social media sites.

The suggested outreach strategy is intended to forge a solid and ongoing relationship with exporters, farmers, agripreneurs, food processors, logistics providers, foreign exchange management companies, etc. using a variety of mainstream publications, electronic channels, and well-known social media platforms by highlighting a list of potential products with a wealth of export potential.

Following the lead of Prime Minister Narendra Modi, who has made a strong case for the creation of “AtmaNirbhar Bharat,” the emphasis is on encouraging budding agricultural entrepreneurs to pursue agriculture export as a lucrative career by providing them with technical training and hands-on experience.

A programme for agribusinesses to take advantage of export potential from India’s diverse agroclimatic zones is also being proposed by the ministry of commerce and the industry’s top agro-export promotion authority.

Due to its therapeutic and health benefits, India has a significant potential for exporting items with the Geographical Indication (GI) tag. Hence, orientation programmes have been organised to raise awareness among stakeholders for GI products in the North Eastern Region (NER).

According to the outreach approach, it has been suggested that GI registry owners join an association to improve cooperation and build a bridge between GI stakeholders and the government.

The proposed programmes, which would be organised under the outreach strategy, would concentrate on issues such as the automation and mechanisation of the agricultural supply chain; the Agri Export Policy; one district and one product; pre- and post-harvest practises that are on par with SPS and Global GAP; the logistics and infrastructure needed for integrated cold chain management; and measures for addressing these issues.

ALSO READ-Collaborations with UAE helps boost Indian farm exports

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Lavrov in Turkey to discuss Ukraine grain exports

As Ukraine receives multiple-launch rocket systems and more sophisticated weapons, Moscow has vowed that it will retaliate by pushing its enemies further away…reports Asian Lite News

Russian foreign minister Sergei Lavrov, who is in Ankara along with a high-level Russian military delegation, will be meeting his Turkish counterpart M Cavusoglu with not just the situation in Ukraine but also Syria on his mind.

Turkey’s President Recep Tayyip Erdogan had recently announced the launch of a new military operation in northern Syria, a move which has been opposed by Moscow, Washington and also New Delhi.

As reported by IndiaNarrative.com last week, while India has highlighted “acts of external players” contributing to the inability to tackle terrorism in Syria, Russia said that it “received with alarm” reports of Turkey’s new military operation in northern Syria which could allow Ankara to take 600 km of the Syrian-Turkish border under its control.

“Such a step, in the absence of the consent of the legitimate government of the Syrian Arab Republic, would constitute a direct violation of the sovereignty and territorial integrity of the Syrian Arab Republic (SAR), and would provoke an additional escalation of tension in this country,” Russian Foreign Ministry spokesperson Maria Zakharova had said on Thursday.

Around Ukraine, while Lavrov has said that he would not like to comment on Ankara playing any role in the issue of normalizing the situation, he insisted that his visit would take forward the telephone conversation held between Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan recently.

MOSCOW, March 5, 2020 (Xinhua) — Russian President Vladimir Putin (R) meets with his Turkish counterpart Recep Tayyip Erdogan in Moscow, Russia, on March 5, 2020. Russia and Turkey agreed Thursday on a ceasefire in the de-escalation zone in Syria’s northwestern province of Idlib, after talks between Russian President Vladimir Putin and his Turkish counterpart Recep Tayyip Erdogan which lasted for about six hours. (Sputnik/Handout via Xinhua/IANS)

“President Putin outlined in detail how to unblock food supplies from the Black Sea ports mined by Ukrainians, from the ports of the Sea of Azov controlled and cleared by the Russian Federation. Of these, there are reliable routes through the Kerch Strait to the Bosphorus and the Dardanelles,” said the Russian foreign minister before leaving for Ankara.

Russia has maintained that its military has been declaring humanitarian corridors in the Black and Azov Seas for the exit of foreign ships, which are being “held hostage” by the Ukrainian authorities.

“In order for ships to use these corridors, the Ukrainians must clear mines. Our Turkish colleagues declared their readiness to help in this. I think our military will agree on how best to organize this, so that through the minefields that need to be removed, the ships go to the open sea. Further, we guarantee – independently or with Turkish colleagues – their fine-tuning to the straits and further to the Mediterranean Sea,” said Lavrov.

As Ukraine receives multiple-launch rocket systems and more sophisticated weapons, Moscow has vowed that it will retaliate by pushing its enemies further away.

“The more long-range systems are supplied to the Kyiv regime, the further we will move the Nazis away from the line from which the threats to the Russian population of Ukraine and the Russian Federation come from,” said Lavrov.

Russian President Vladimir Putin has already warned of destroying those military facilities in Ukraine that have not yet been targeted by the Russian forces if Kyiv continues to receive supply of Multiple Launch Rocket Systems (MLRS) from the West.

Lavrov said that the newly supplied weapons to Ukraine are capable of hitting targets not only near the border, but also “more remote regions” of the Russian Federation.

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Business India News

India achieves record high of agriculture exports in 2021-22

According to the Ministry, highest ever exports have been achieved for staples like rice ($9.65 billion), wheat ($2.19 billion), sugar ($4.6 billion) and other cereals ($1.08 billion)…reports Asian Lite News

India achieved a record high of agriculture exports in 2021-22, which crossed the $50 billion-mark, the Ministry of Commerce and Industry said on Wednesday.

As per the provisional figures released by the Directorate General of Commercial Intelligence and Statistics (DGCI&S), agri exports grew by 19.92 per cent in 2021-22 to touch $50.21 billion.

“The growth rate is remarkable as it is over and above the growth of 17.66 per cent at $41.87 billion achieved in 2020-21, and it has been achieved in spite of unprecedented logistical challenges in the form of high freight rates, container shortages etc.,” the Ministry said.

“This achievement over the past two years will go a long way in realising the Prime Minister’s vision of improving farmers’ income,” it added.

According to the Ministry, highest ever exports have been achieved for staples like rice ($9.65 billion), wheat ($2.19 billion), sugar ($4.6 billion) and other cereals ($1.08 billion).

“Wheat has recorded an unprecedented growth of more than 273 per cent, jumping nearly four-fold from $568 million in 2020-21 to touch close to $2,119 million in 2021-22.

“Increase in exports of these products has benefitted the farmers in states like Punjab, Haryana, Uttar Pradesh, Bihar, West Bengal, Chhattisgarh, Madhya Pradesh, Telangana, Andhra Pradesh, Maharashtra etc. India has captured nearly 50 per cent of the world market for rice,” the Ministry said.

Besides, the data showed that export of marine products, at $7.71 billion, is also the highest ever, benefiting farmers in the coastal states of West Bengal, Andhra Pradesh, Odisha, Tamil Nadu, Kerala, Maharashtra and Gujarat.

“Spices exports have touched $4 billion for the second year in a row. Despite facing tremendous supply side issues, coffee exports have crossed $1 billion for the first time, which has improved realisations for coffee growers in Karnataka, Kerala and Tamil Nadu,” it said.

The ministry said that this achievement is the result of sustained efforts on the part of the Department of Commerce and its various export promotion agencies like APEDA, MPEDA and various commodity boards.

“The Department has made special efforts to engage state governments and district administrations in promoting agricultural exports. In order to ensure that the farmers benefit from exports, the Department of Commerce has made special efforts to provide export market linkage directly to farmers and FPOs.

“A ‘Farmer Connect Portal’ has been set up for providing a platform to the farmers, FPOs or FPCs, and cooperatives to interact with the exporters. This approach has resulted in agriculture exports taking place from hitherto unexplored areas,” the Ministry said.

The statement also said that exports have taken place from clusters like Varanasi (fresh vegetables, mangoes), Ananthpur (banana), Nagpur (orange), Lucknow (mango), Theni (banana), Solapur (pomegranate), Krishna and Chittoor (mango), among others.

“Initiatives like ‘Happy Banana’ train, an exclusive train with reefer containers to transport bananas from Anantapur to JNPT, Mumbai, have been taken to boost exports from unconventional areas,” it said.

In addition, the Ministry said that the outbreak of the Covid-19 pandemic during the first quarter of 2020 resulted in increased demand for staples, which provided an opportunity for increasing agriculture exports.

“Because of the institutional framework already in place at the state and district levels, and the special efforts made to overcome the pandemic-induced bottlenecks, India has been able to rise to the occasion and emerge as a reliable supplier of food.

“Even during the current crisis triggered by the Russia–Ukraine war, the world is looking at India for supplies of wheat and other foodgrains,” the statement said.

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UK govt bans luxury goods exports to Russia

The UK government included a list of the £900 million ($1.17 billion) worth of goods such as iron, steel, fertilizers, and vodka that will be impacted by additional 35% tariffs when imported into the UK…reports Asian Lite News

The government announced a ban on luxury goods exports to Russia on Tuesday as well as imposing new tariffs on Russian imports, including vodka, in its bid to isolate Russia from the global economy following its invasion of Ukraine.

In a press release announcing the news, the UK government said that the new export ban will come into force shortly and “will make sure oligarchs and other members of the elite, who have grown rich under President Putin’s reign and support his illegal invasion, are deprived of access to luxury goods.”

The UK has already imposed sanctions on seven Russian oligarchs, including the owner of English Premier League soccer club Chelsea FC, Roman Abramovich, and “Putin’s right-hand man” Igor Sechin.

In the announcement Tuesday, the government said that its G7 Allies – Canada, France, Germany, Italy, Japan, and the US – also plan to ban exports of luxury goods to Russia.

The UK government included a list of the £900 million ($1.17 billion) worth of goods such as iron, steel, fertilizers, and vodka that will be impacted by additional 35% tariffs when imported into the UK.

Finance minister Rishi Sunak said in a statement Tuesday: “These tariffs build on the UK’s existing work to starve Russia’s access to international finance, sanction Putin’s cronies and exert maximum economic pressure on his regime.”

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Business

India’s pineapple exports at $3.26 mn

The states where pineapple is grown include Assam, Meghalaya, Tripura, Manipur, West Bengal, Kerala, Karnataka and Goa…reports Asian Lite News

India’s pineapple exports rose by almost 100 per cent to $3.26 million during the April-December period in 2021, compared to $1.63 million recorded in the corresponding period of 2013, the Ministry of Commerce and Industry informed on Monday.

The major export destinations last year were the UAE (32.2 per cent), Nepal (22.7 per cent), Qatar (16.6 per cent), Maldives (13.2 per cent) and the US (7.1 per cent).

India is the fifth-largest producer of pineapple in the world with an annual output of about 1.2 million tonnes. The other leading producers are Thailand, the Philippines, Brazil, China, Nigeria, Mexico, Indonesia, Colombia and the US.

The states where pineapple is grown include Assam, Meghalaya, Tripura, Manipur, West Bengal, Kerala, Karnataka and Goa.

The other states where it is grown on a smaller scale are Gujarat, Maharashtra, Tamil Nadu, Andhra Pradesh, Odisha, Bihar and Uttar Pradesh.

The Agricultural and Processed Food Products Export Development Authority (APEDA) actively supported the government in taking the export of agricultural products to $20.67 billion in 2020-21 from $0.6 billion in 1986 when it was founded.

The APEDA also helped expand the export basket to 205 countries.

The export target set by APEDA for the current financial year (2021-22) is $23.7 billion, out of which more than 70 per cent, i.e., $17.20 billion, has been achieved till January.

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Business Tech Lite

Maruti becomes ‘car export king’ in India

Besides exports, the other driver for demand, according to Srivastava, will come from the high Capex announced in the Union Budget FY23…reports Asian Lite News

Automobile major Maruti Suzuki is on course to become the largest car exporter from India in FY22.

The feat has been achieved after a gap of 11 years with new Baleno leading the pack.

The automaker exported 205,450 units in the calendar year 2021.

In a conversation with IANS, Maruti Suzuki India’s Senior Executive Director, Sales and Marketing, Shashank Srivastava said the company already shipped out almost 206,000 units to foreign markets in calendar year 2021.

“This financial year also we should be doing something like 220,000 units. Maruti is now the largest exporter of cars in India,” he said.

Besides exports, the other driver for demand, according to Srivastava, will come from the high Capex announced in the Union Budget FY23.

“There is no doubt that increased Capex capital will ultimately benefit the industry.”

Furthermore, the re-opening of contact intensive sectors such as education is also expected to give demand a push, he said.

“A lot of the demand should come back from the reopening of institutions across the country.”

“Once the normalcy starts returning… it is expected to help us get back to the normal economy.”

On the pandemic induced rise in automobile sales trend, he said that the shift to personal mobility will continue for some more time.

“When the pandemic began, it was expected that car demand will come down but it has been the opposite of that. It has done better than the expectation even with the loss of income levels and the disruption that we saw in the last two years.”

“Going forward, the expectation is that the shift to personal mobility will continue for some more time. The pandemic may go away but the fear might still linger on.”

In addition, the company plans to launch a slew of new as well upgraded products in the market.

It recently opened the bookings for its new generation Baleno.

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Arab News News World

Israel’s high-tech industry exports increased by 25% in 2021

Israel’s high-tech industry exports increased by 25 per cent in 2021 as compared to 2020, the country’s Central Bureau of Statistics has reported…reports Asian Lite News

Israel’s high-tech exports totaled $20.16 billion in 2021, up from $16.13 billion in 2020, according to the Bureau.

In December 2021, Israel’s high-tech exports totaled $2.02 billion, up 32.9 per cent from the $1.52 billion in December 2020, Xinhua news agency reported.

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In 2021, Israel’s total exports increased by 18.5 per cent to $56.28 billion, up from $47.49 billion in 2020.

In 2021, Israel’s imports totaled nearly $89.1 billion, up 29.6 per cent from $68.75 billion in 2020.

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Export drive for Indian honey in the UAE

India’s Agricultural and Processed Food Products Export Development Authority (APEDA) is mounting a drive to promote its honey exports to the UAE and Saudi Arabia…reports Asian Lite News

The drive is part of efforts to diversify export markets for Indian honey. “At present, India’s natural honey exports are majorly dependent on one market, the United States, which accounts for more than 80 per cent of such exports,” according to an APEDA brief on the beekeeping industry released here today.

“We are working in close collaboration with state governments, farmers and other stakeholders in the value chain to boost exports to other countries and regions,” Dr M Angamuthu, Chairman of APEDA, said in the brief. “India is also renegotiating the duty structures imposed by various countries for boosting honey exports.”

The drive is in line with Indian Prime Minister Narendra Modi’s vision of a “Sweet Revolution” through the promotion of beekeeping and allied activities, according to APEDA.

India exported 59,999 metric tonnes of natural honey worth Indian rupees 716 crores (about $96.77 million) during the fiscal year 2020-21. Of this, the US took 44,881 metric tonnes.

Some exports went to the UAE, Saudi Arabia, Bangladesh and Canada, markets which APEDA is now planning to tap with greater vigour. India started its honey exports only in the fiscal year 1996-97. It is now the world’s eighth largest honey producer and ranks ninth among the honey exporting countries globally.

In February last year, the government here launched a National Beekeeping and Honey Mission (NBHM). The mission has been allocated Indian rupees 500 crore (about $ 67.5 million) until 2023.

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Last month, India’s Minister of State for External Affairs, V Muraleedharan said that the UAE is the most popular destination in the world for Indian tourists, according to figures submitted to Parliament by him.

Muraleedharan said 314,495 Indians left on tourist visas for the UAE in the first quarter of this year, the latest period for which figures were made available to Members of Parliament (MPs).

This represented an increase of slightly more than 50 percent over the corresponding period last year until India suspended all international passenger traffic into and out of the country on 23rd March 2020 following the global outbreak of COVID-19.

The attraction of the UAE for Indian tourists is especially underlined in the Parliament figures because during the periods under review, the total number of Indian tourists going abroad declined while the UAE’s share of the tourist traffic increased. (WAM/Krishnan Nayar)

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Business India News

Exports rose 37%, imports up 38% in December

The value of non-petroleum and non-gems and jewellery exports rose to $28.69 billion, registering a positive growth of 28.64 per cent over December 2020….reports Asian Lite News

India’s merchandise exports in December 2021 rose to $37.29 billion, higher by 37 per cent on a year-on-year basis, preliminary data showed on Monday.

Exports in December 2020 stood at $27.22 billion.

According to the data furnished by the Commerce and Industry Ministry, last month’s exports rose by 37.55 per cent over December 2019.

“Value of non-petroleum exports in December 2021 was $31.67 billion, registering a positive growth of 27.31 per cent over non-petroleum exports of $24.88 billion in December 2020 and a positive growth of 34.92 per cent over non-petroleum exports of $23.48 billion in December 2019.”

The value of non-petroleum and non-gems and jewellery exports rose to $28.69 billion, registering a positive growth of 28.64 per cent over December 2020.

As per the data, India’s merchandise imports last month increased by 38.06 per cent to $59.27 billion over $42.93 billion in December 2020, a rise of 49.70 per cent over $39.59 billion reported for the corresponding month of 2019.

“Value of non-petroleum imports was $43.37 billion in December 2021 with a positive growth of 30.22 per cent over non-petroleum imports of $33.31 billion in December 2020 and a positive growth of 50.20 per cent over non-petroleum imports of $28.88 billion in December 2019.

“Value of non-oil, non-GJ (gold, silver and precious metals) imports was $35.57 billion in December 2021 with a positive growth of 34.68 per cent over non-oil and non-GJ imports of $26.41 billion in December 2020 and a positive growth of 47.75 per cent over non-oil and non-GJ imports of $24.07 billion in December 2019.”

Consequently, India’s trade deficit last month widened by 39.90 per cent YoY to $21.99 billion from $15.72 billion while it increased by 76.10 per cent when compared to $12.49 billion reported for December 2019.

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