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24 Apr

India only country among top 10 nations to register growth in steel production in Jan-March

Union Steel Minister Shri Ram Chandra Prasad Singh congratulated the Indian steel industry for sterling performance at a global level and encouraged them to sustain this level of performance in the year 2022.

Such momentum of production will help India reach the targeted level of 500 million tonne production capacity in the next 25 years of Amritkaal, he added.

As per the data released by World Steel Association on April 22, India is the only country among top 10 steel producing nations of the world, which has registered growth in steel production in the January to March 2022 period, as compared to the corresponding period last year.

India has produced 31.9 million tonnes of steel in the period with a growth of 5.9 percent. In March 2022, with a production of 10.9 million tonnes of steel in India, the growth rate is 4.4 percent.

Brazil is the only other country among the top 10 Nations which has registered growth in the month of March.

According to a press statement by Ministry of Steel, Steel Minister held separate meetings with public sector and private sector steel companies earlier this week and reviewed their capital expenditure, production targets and future plans.

He exhorted them to keep in mind the carbon neutral commitment of India by 2070, hydrogen mission and clean & green steel while making strategic plans for the future.

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24 Apr

Sitharaman Participates In Meeting Of Development Committee Plenary In Washington D.C.

Union Minister of Finance Nirmala Sitharaman participated in the 105th Meeting of the Development Committee Plenary in Washington D.C. on Saturday.

The items on the agenda included Digitalisation & Development, Making Debt Work for Development and Macroeconomic Stability, and World Bank Group’s Response to Global Impacts of the War in Ukraine: A Proposed Roadmap.

In her intervention at this session, the Finance Minister stated that India’s economic growth in the current year is robust and highest among all large economies and reflects India’s resilience and strong recovery.

Sitharaman stated that India faced the COVID-19 pandemic crisis with great resilience and made remarkable progress in vaccination and administered more than 1.85 billion COVID-19 vaccine doses.

The Finance Minister underlined that India voluntarily offered COVID Vaccine Intelligence Network (CoWIN) platform to all countries and stand willing to provide assistance for other public-goods platforms recognising the importance of replication of proven and scalable digital platforms.

Sitharaman drew the attention of distinguished gathering in the meeting to the unprecedented situation in Sri Lanka and hoped for decisive relief to Sri Lanka so that they come out of the crisis.

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22 Apr

“Felt Like Sachin Tendulkar, Amitabh Bachchan”: UK PM Boris Johnson on India welcome

On Friday UK PM Boris Johnson addressed a joint press meet with PM Modi in Delhi and acknowledged the amazing reception he received. He said that he felt like Sachin Tendulkar.

“And I had an amazing reception – absolutely amazing– I felt like Sachin Tendulkar – my face was about as ubiquitous everywhere as Amitabh Bachchan. I was everywhere to be seen and it was fantastic,” said PM Johnson.

Talking about the Indo-Pacific region he said, “It was great to see you (PM Modi) at the G7. But since then, the threats of autocratic coercion have grown even further and it’s therefore vital that we deepen our co-operation, including our shared interest in keeping the Indo-Pacific open and free.”

India and UK will extend the partnership in science, and said that he had “the Indian jab” in his arm.

Johnson said, “We’re extending our partnership as science superpowers, And building on the collaboration between Oxford/Astra-Zeneca and the Serum Institute, which vaccinated more than a billion people against Covid, – including me – I have the Indian jab in my arm and the power of good it did me so thanks to India.”

These partnerships form the superstructure of the Living Bridge that Narendra describes between our countries, and today that bridge is humming with goods and services and people and capital, whizzing back and forth east to west

Johnson said that the new deals between India and UK are worth £1 billion and will create more than 11,000 new jobs across the UK.

Johnson said that the next round of the talks regarding the Free Trade Agreement will begin next week. Johnson has told the negotiators to get it done by Diwali in October.

“We’ve already closed four chapters, and today we’re announcing new measures to make it easier to export UK-made medical devices to India and ensure mutual recognition of UK higher education qualifications. And as the next round of talks begins here next week, we are telling our negotiators: get it done by Diwali in October. Get it done by Diwali,” said PM Johnson.

 

 

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22 Apr

UK PM Johnson Meets PM Modi In Delhi, Free Trade Agreement To Conclude By This Year

UK PM Boris Johnson arrived in Gujarat on Thursday for the start of his two-day visit to India. Boris Johnson met Prime Minister Narendra Modi in Delhi on Thursday as the UK looks to discuss topics from climate change to energy security to defence, the partnership of our democracies is vital as the world faces growing threats from autocratic states.

Addressing the joint press meet, PM Modi said PM Johnson has played a very important role in strengthening the relations between India and the UK and that the arrival of Prime Minister Boris Johnson here is a historic moment in itself.

“For the past several years, Prime Minister Johnson has played a very important role in strengthening the relations between India and the UK. At this time, when India is celebrating the Amrit Festival of its independence, the arrival of Prime Minister Boris Johnson here is a historic moment in itself,” said PM Modi.

Modi and Johnson also reviewed the progress made in “Roadmap 2030” which will guide the relationship between the UK and India in this decade.

“And we also launched an ambitious “Roadmap 2030” to guide our relationship in this decade. In our conversation today, we also reviewed the progress made in this roadmap, and also set some goals for the future,” Modi said.

Modi said that the Free Trade Agreement between both countries might be concluded by the end of this year.

“The teams of both the countries are working on the subject of Free Trade Agreement. Good progress is being made in the negotiations. And we have decided to do our best to conclude the FTA by the end of this year,” said Modi.

Modi also invited UK to join India’s National Hydrogen Mission to deepen the climate and energy partnership.

Modi emphasized the Global Innovation Partnership and said that it will prove to be a very important initiative between both countries. UK will also finance up to $100 million for scaling-up of “Made in India” innovations to third countries

“The conclusion of the implementation arrangements of the Global Innovation Partnership will prove to be a very important initiative between us today. This will further strengthen our development partnership with other countries,” Modi said.

“Under this, India and UK will co-finance up to $100 million for the transfer and scaling-up of “Made in India” innovations to third countries,” Modi further added.

Modi and Johnson also discussed the developments taking place at the regional and global level. They also talked about the Indo-Pacific region and India welcomed UK’s decision to join Indo-Pacific Oceans Initiative.

“We emphasized on maintaining the Indo-Pacific region based on a free, open, inclusive and rules-based order. India welcomes UK’s decision to join Indo-Pacific Oceans Initiative,” said Modi.

During the meeting both the leader reiterated the importance of respect for the territorial integrity and sovereignty of all countries.

 

“We stressed on dialogue and diplomacy in Ukraine for an immediate ceasefire and resolution of the problem. We also reiterated the importance of respect for the territorial integrity and sovereignty of all countries,” said Modi.

Talking about the Afghanistan situation Modi said that Afghan land should not be used to spread terrorism in other countries.

“We reiterated our support for a peaceful, stable and secure Afghanistan and for an inclusive and representative Government. It is necessary that Afghan land should not be used to spread terrorism in other countries,” said Modi.

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21 Apr

UK PM Boris Johnson meets industrialist Gautam Adani in Ahmedabad

UK Prime Minister Boris Johnson who is on a two-day tour of India, arrived in Ahmedabad on Thursday morning.

“It’s fantastic to be in India, the world’s largest democracy. I see vast possibilities for what our great nations can achieve together. Our powerhouse partnership is delivering jobs, growth and opportunity. I look forward to strengthening this partnership in the coming days,” PM Johnson tweeted after arriving in Ahmedabad.

On the first day of his tour, Johnson met Adani Group Chairman, Gautam Adani at the Adani headquarters at Shantigram on the outskirts of Ahmedabad.

“Honoured to host @BorisJohnson, the first UK PM to visit Gujarat, at Adani HQ. Delighted to support climate & sustainability agenda with focus on renewables, green H2 & new energy. Will also work with UK companies to co-create defence & aerospace technologies,” Adani wrote in his Twitter.

After the meeting, Johnson visited the Sabarmati Ashram, the place from where Gandhi led India’s freedom struggle from the British colonial rule.

“I was honoured to follow in the footsteps of millions in visiting the Gandhi Ashram in Ahmedabad today. As the world faces renewed conflict, Mahatma Gandhi’s teachings remind us of the power of peace in changing the course of history,” tweeted PM Johnson.

 

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21 Apr

Rajnath Singh Invites US Companies To Carry Out Joint R&D, Manufacturing & Maintenance

Defence Minister Rajnath Singh invited US companies to carry out joint R&D, manufacturing and maintenance of defence equipment to achieve the vision of ‘Make in India, Make for the World’.

The Defence Minister was addressing the members of the American Chamber of Commerce in India (AMCHAM India) through video conferencing during its 30th Annual General Meeting on April 21, 2022. He invited the US companies for co-production, co-development, investment promotion and development of Maintenance Repair and Overhaul facilities in India.

“Of late, some US companies have expanded their local presence in partnership with Indian industry to achieve our aim of ‘Make in India, Make for the World’. We believe this is just a beginning. With increasing business, we aspire for increased investments by US companies in India. Making full use of the Industrial Security Agreement, we need to facilitate collaboration & indigenisation of defence technology and boost the participation of US and Indian companies in each other’s defence supply chains. American companies are welcome to establish manufacturing facilities in India,” said Rajnath Singh.

Rajnath Singh listed out a number of initiatives taken by the Government to facilitate partnerships between major Original Equipment Manufacturer (OEMs) and Indian companies.

“From increase in FDI limit to improving ease of doing business and from encouraging innovation through the iDEX platform to an enhanced positive list to give fillip to manufacture in India, the government is sharply focussed on enhancing the share of defence manufacturing, export by India-based companies and joint ventures,” he said.

Rajnath Singh pointed out that US companies have not only been a source of FDI & employment in India, but are also contributing to India’s defence exports, totalling around $2.5 billion to US in last five years, which is 35 per cent of total exports achieved during the period.

The Defence Minister termed the recently held India-US 2+2 Ministerial Dialogue in Washington as positive and fruitful, saying that the defence sector is a strong and growing pillar of the bilateral relationship. India and US are uniquely poised to leverage each other’s strengths for a mutually beneficial and bright future, he said.

“Both India and US share a common vision of a free, open, inclusive and rules-based Indo-Pacific and Indian Ocean Region. The India-US Comprehensive Global Strategic Partnership is of critical importance for international peace, stability and prosperity,” Rajnath Singh added.

He termed the India-US economic relationship as one of the defining business relationships of the 21st century.

Rajnath Singh added that during the 2+2 Ministerial meeting, India and US confirmed their intent to advance cooperation in Critical and Emerging Technologies such as advanced communication technology, artificial intelligence, quantum science, STEM, semi-conductors and biotechnology.

AMCHAM-India is an association of American business organisations operating in India. Established in 1992, AMCHAM has over 400 US companies as members.

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21 Apr

Oil India Limited commissions India’s first 99% pure green hydrogen plant

Oil India Limited (OIL) has taken the first significant step towards the Green Hydrogen Economy in India with the commissioning of India’s First 99.999% pure Green Hydrogen pilot plant, with an installed capacity of 10 kg per day at its Jorhat Pump Station in Assam on Wednesday. The plant was commissioned in a record time of 3 months.

The plant produces Green Hydrogen from the electricity generated by the existing 500kW Solar plant using a 100 kW Anion Exchange Membrane (AEM) Electrolyser array. The use of AEM technology is being used for the first time in India.

Chairman & Managing Director, Sushil Chandra Mishra said that the plant is expected to increase its production of green hydrogen from 10 kg per day to 30 kg per day in future. He further said the company has initiated a detailed study in collaboration with IIT Guwahati on blending of Green Hydrogen with Natural Gas and its effect on the existing infrastructure of OIL.

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21 Apr

India’s Non-basmati rice exports grow by 109% since 2013-14 to USD 6115 million

India’s non-basmati rice exports witnessed an astounding growth of 109 % from USD 2925 million in FY 2013-14 to USD 6115 million in FY 2021-22.

India is the world’s second-largest rice producer after China. The record exports would enable the rice producers to reduce their stocks and would also benefit the farmers as the increased demand for Indian Rice is likely to improve their realizations.

As per DGCIS data, India exported rice to over 150 countries across the globe in 2021-22. India exported more than USD one million to 76 countries out of the 150 countries reported in 2021-22, It indicates the diversification of India’s rice export over the years.

Highlighting the historic achievement in a tweet, Union Minister for Commerce and Industry, Piyush Goyal tweeted, “India’s rice exports takes an astounding growth of 109%. Modi Govt. policies help farmers get access to the global market and also ensure food security.”

According to the DGCIS data, India had exported non-basmati rice worth USD 2015 million in 2019-20, which rose to USD 4799 million in 2020-21 and USD 6115 million in 2021-22.

Registering a growth of 27% in 2021-22, export of non-basmati rice was the top forex earner among all agri-commodities, at USD 6115 million.

West African country Benin is one of the major importers of non-basmati rice from India. Other destination countries are Nepal, Bangladesh, China, Cote D’ Ivoire, Togo, Senegal, Guinea, Vietnam, Djibouti, Madagascar, Cameroon Somalia,  Malaysia, Liberia U.A.E., etc.

In 2020-21, India shipped non-basmati rice to nine countries – Timor-Leste, Puerto Rico, Brazil, Papua New Guinea, Zimbabwe, Burundi, Eswatini, Myanmar and Nicaragua, where exports were carried out for the first time or earlier the shipment was smaller in volume.

The major rice producing states are West Bengal, Uttar Pradesh, Punjab, Tamil Nadu, Andhra Pradesh, Bihar, Chhattisgarh, Odisha, Assam, and Haryana.

As per Second Advance Estimates for 2021-22, the total production of Rice during 2021-22 is estimated at record 127.93 million tonnes, which is higher by 11.49 million tonnes than the last five years’ average production of 116.44 million tonnes.

However, as per second Advance Estimates for 2021-22, total food grains production in the country is estimated at record 316.06 million tonnes which is higher by 5.32 million tonnes than the production of food grain during 2020-21. Further, the production during 2021-22 is higher by 25.35 million tonnes than the previous five years’ (2016-17 to 2020-21) average production of food grains.

 

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19 Apr

European Commission President Ursula Von Der Leyen to visit India on April 24-25

On Tuesday Ministry of External Affairs announced that the President of the European Commission, Ursula Von Der Leyen will be visiting India on 24-25 April 2022. This will be her first visit to India as the President of the European Commission.

During her visit, Ursula Von Der Leyen will hold bilateral talks with the Prime Minister of India. She will also meet the President of India and other dignitaries. She has been invited as the Chief Guest for this year’s edition of Raisina Dialogue and will address the inaugural session on 25 April 2022.

“India and the European Union share a vibrant Strategic Partnership which has been witnessing strong growth with wider and deeper co-operation in Political and Strategic, Trade and Commerce, Climate and Sustainability, Digital and Technology aspects as well as people-to-people ties,” MEA said in a press release.

“The India-EU Leaders’ Meeting in May 2021 set new milestones with the decision to resume trade talks and the launch of India-EU Connectivity Partnership. The forthcoming visit of the President of the European Commission will be an opportunity to review progress and further intensify the multifaceted partnership with EU,” read the press release.

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18 Apr

India’s sugar exports grow by 291% since 2013-14: Ministry of Commerce & Industry

India’s Sugar Exports saw a growth of 291% from USD 1,177 million in FY 2013-14 to USD 4600 million in FY 2021-22. As per DGCI&S data, India exported sugar to 121 countries across the globe.

Notably, India is the world’s second-largest sugar producer after Brazil.

Sugar export jumped 65 per cent in 2021-22 corresponding to previous year.

Highlighting the achievement, Union Minister for Commerce and Industry Piyush Goyal tweeted, “India’s Sugar Exports witness an astounding growth of 291%. Modi Government’s policies are helping farmers increase their income by tapping global markets.”

According to the DGCI&S data, India had exported sugar worth of USD 1965 million in 2019-20, which rose to USD 2790 million in 2020-21 and USD 4600 million in 2021-22.

According to a statement by the Ministry of Commerce & Industry, in 2021-22 (April-February), India has exported sugar worth of USD 769 million to Indonesia, followed by Bangladesh (USD 561 million), Sudan (USD 530 million) and U.A.E (USD 270 million).

“India also exported sugar to Somalia, Saudi Arab, Malaysia, Sri Lanka, Afghanistan, Iraq, Pakistan, Nepal, China, etc. Indian sweetener has also been imported by USA, Singapore, Oman, Qatar, Turkey, Iran, Syria, Canada, Australia, South Africa, Germany, France, New Zealand, Denmark, Israel, Russia, Egypt, etc,” read the statement.

“Uttar Pradesh, Maharashtra and Karnataka account for nearly 80 percent of the total sugar production in the country. The other major sugarcane-producing states are Andhra Pradesh, Gujarat, Madhya Pradesh, Odisha, Tamil Nadu, Bihar, Haryana, and Punjab,” the statement further stated.

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