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India has set a target to achieve a turnover of Rs 1.75 lakh crore ($25 billion) including export of Rs 35,000 Crore ($ 5 billion) in aerospace and <keyword id="8127101" type="UNKNOWN" weightage="20" keywordseo="defence-goods">defence goods</keyword> and services by 2025. This is part of the <keyword id="9693161" type="UNKNOWN" weightage="20" keywordseo="draft-defence-production">draft Defence Production</keyword> and Export Promotion Policy (DPEPP 2020) announced on Sunday. Defence Minister <keyword id="6355121" type="PERSON" weightage="20" keywordseo="Rajnath-Singh">Rajnath Singh</keyword> announced the draft policy through a tweet on Monday. "In order to provide impetus to self-reliance in Defence manufacturing and to position India amongst the leading countries of the world in Defence and Aerospace sectors, a draft Defence Production and Export Promotion Policy 2020 (DPEPP 2020) has been formulated," he said. In implementing such framework and to position India amongst the leading countries of the world in defence and aerospace sectors, <keyword id="6369097" type="COMPANY" weightage="20" keywordseo="ministry-of-defence">Ministry of Defence</keyword> (MoD) has formulated a draft Defence Production and Export Promotion Policy 2020 (DPEPP 2020). The DPEPP 2020 is envisaged as overarching guiding document of MoD to provide a focused, structured and significant thrust to defence production capabilities of the country for self-reliance and exports. The policy proposes to develop a dynamic, robust and competitive defence industry, including <keyword id="9694649" type="COMPANY" weightage="20" keywordseo="aerospace-and-naval-shipbuilding">aerospace and naval shipbuilding</keyword> industry to cater to the needs of armed forces with quality products. It also seeks to reduce dependence on imports and take forward "Make in India" initiatives through domestic design and development. The policy's aim is to promote export of defence products and become part of the global defence value chains. It emphasizes creation of an environment that encourages R&amp;D, <keyword id="9694650" type="UNKNOWN" weightage="20" keywordseo="rewards-innovation">rewards innovation</keyword>, creates Indian IP ownership and promotes a robust and self-reliant defence industry. The policy brings out multiple strategies under the focus areas of procurement reforms, indigenization and support to MSMEs/startups, optimize resource allocation, investment promotion, FDI and Ease of Doing business, innovation and R&amp;D, DPSUs and OFB, quality assurance and testing infrastructure and export promotion. The vision as stated in the policy is "To make India amongst the leading countries of the world in Defence sector, including Aerospace and Naval Shipbuilding sectors, from design to production, with active participation of public and private sector and thus fulfilling the twin objectives of self-reliance and exports". SEE ALSO: <a href="https://www.businessinsider.in/tech/news/mark-zuckerberg-and-jeff-bezos-got-14-billion-richer-in-a-single-day-as-facebook-and-amazon-shrugged-off-the-coronavirus-recession/articleshow/77333152.cms" data-type="tilCustomLink">Mark Zuckerberg and Jeff Bezos got $14 billion richer in a single day as Facebook and Amazon shrugged off the coronavirus recession</a> <a href="https://www.businessinsider.in/business/corporates/news/dgca-asks-spicejet-to-stop-ticket-sale-offer-as-govt-imposed-fare-limits-are-in-place/articleshow/77333769.cms" data-type="tilCustomLink">DGCA asks SpiceJet to stop ticket sale offer as govt-imposed fare limits are in place</a>

Draft defence policy aims to achieve ₹1.75 lakh crore turnover by 2025

To expand the domestic <keyword id="2377476" type="PERSON" weightage="20" keywordseo="defence-manufacturing">defence manufacturing</keyword> ecosystem, a negative list of weapons and platforms would be notified with year-wise timelines for placing an embargo on import of such items from those dates. As per the draft <keyword id="9695994" type="UNKNOWN" weightage="20" keywordseo="defence-production-and-export-promotion-policy">Defence Production and Export Promotion Policy</keyword> (DPEPP 2020) announced on Monday, this list would be updated periodically, without compromising on the operational requirements of the Services, to allow lead-time to industry to prepare itself for any such procurement which is likely to come up, subsequent to the indicated embargo date. The policy proposes a Technology Assessment Cell (TAC) in coordination with the services, which would assess the industrial capability for design, development and production including re-engineering for production of various major systems like <keyword id="386104" type="PERSON" weightage="20" keywordseo="Armoured-Vehicles">armoured vehicles</keyword>, <keyword id="117400" type="PERSON" weightage="20" keywordseo="Submarines">submarines</keyword>, fighter aircraft, <keyword id="54022" type="PERSON" weightage="20" keywordseo="helicopters">helicopters</keyword>, radars with the major industries in the country. A Project Management Unit (PMU), with representation from the Services, would be set up to support the acquisition process and facilitate management of the contracts. This setup would bring in expertise to the process of acquisition as well as create focus and synergy in building military capabilities. With self- reliance as the motto, aim is to move away from licensed production to Design, Develop and produce wherein the Nation owns the Design Rights and IP of the systems. "Our Armed forces have over the years acquired a range of platforms from diverse sources leading to a buildup of spares and consumables which has resulted in sub-optimal planning and resource allocation. Efforts would be made to adopt a family of weapons approach to standardize and optimize inventory and supply chain management," the policy said. In addition, efforts would be made to provide the industry greater visibility into the likely opportunities in the defence sector. Understanding future capital acquisition priorities will enable industry to develop technologies, carry out necessary ground work and position themselves in an optimal manner to compete at the appropriate time. In order to enhance procurement from domestic industry, it is incumbent that procurement is doubled from the current Rs 70,000 crore to Rs 1,40,000 crore by 2025. In order to achieve this objective, it is proposed to carve out a distinct budget head for domestic capital procurement. The policy will also strive for enhancing allocation for domestic capital procurement at the rate of minimum 15 per cent per annum for the next five years. Various studies have over the years brought out the need to enhance cost effectiveness and improve efficiency in the use of MoD's resources. Efforts would be made to scrutinize, evaluate and optimize various items of expenditure in the Defence budget. The policy says that investment promotion would be encouraged to provide specific focus on certain identified segments and technological areas. Investments in aviation sector which help in co-development and strengthening defence ecosystem would be facilitated in association with the Ministry of Civil Aviation. Efforts would be made to address the identified gaps in those segments and offer incentives to global OEMs and domestic industry to set up design and manufacturing facilities in India. The investments in these segments would also be channelized by offering high multipliers through offsets obligations. Development of aero engines complex is a priority area. While significant improvements have been made, there are still critical gaps in the aero engine segment for future development programmes as well as for taking up the engine related MRO activities of the current inventory of platforms. The two Defence Corridors set up in Tamil Nadu and Uttar Pradesh would be specifically targeted by providing additional support as well as by offering higher multipliers for offset discharge for investments flowing into the Defence Corridors. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/draft-defence-policy-aims-to-achieve-1-75-lakh-crore-turnover-by-2025/articleshow/77342252.cms">Draft defence policy aims to achieve ₹1.75 lakh crore turnover by 2025</a> <a href="https://www.businessinsider.in/defense/news/fresh-negotiations-between-military-commanders-from-india-and-china-starts-today-to-end-friction-in-ladakh/articleshow/77311439.cms">Fresh negotiations between military commanders from India and China starts today to end friction in Ladakh</a> <a href="https://www.businessinsider.in/defense/news/comparison-of-indias-rafale-fighter-jets-with-chinese-latest-j-20-fighter-jets/slidelist/77238828.cms">India’s Rafale fighter jets — Here’s how it stacks up against Chinese J-20</a>

India's new defence policy proposes a cell to re-engineer armoured vehicles, submarines, fighter aircraft, helicopters and more

India is preparing country-wise profiles of defence products and platforms to promote their exports and the government will stand "side by side" with the domestic industry in this endeavour through diplomatic channels, a senior Defence Ministry official said Monday. Raj Kumar, secretary, Department of Defence Production, said at a webinar that the domestic defence industry will hold web interactions with the representatives of friendly countries to figure out what kind of products and platforms they require. "We are preparing country-wise profiles of products, weapons and platforms which are probably needed by our friendly countries. So we are now planning to start web interaction led by the industry," Kumar said. "That country's defence attache, our DPSUs (defence public sector undertakings), industry, will then figure out what is in the store for us to promote there for exports," he said. Kumar said the government will be standing side by side with the domestic industry through its defence attaches, embassies and diplomatic channels to promote exports. To promote indigenous production, the Defence Ministry on August 9 announced restrictions on import of 101 weapons and military platforms including light combat helicopters, conventional submarines and cruise missiles under a staggered timeline till 2024. Kumar said a second list of import-restricted defence items will be notified soon. "This is the first list we are examining and then a second list will also come. We expect you (industry) to come forward and start investing to meet our requirements," he said at the webinar -- "Army Make Projects 2020" -- organised by FICCI. The senior official said as successful domestic bidders move to the defence equipment production stage, his department will share their details with the UP and Tamil Nadu defence corridor authorities, who "will compete in attracting your units to their respective states". He said since the three services are making efforts to push the "Make II" category of defence production projects, he will interact with project participants to understand their concerns and share best practices among the services. As secretary of the Department of Defence Production, Kumar heads the collegiate committee that approves the "Make II" category of projects. Under the Make II category, no government funding is given to the Indian company for the prototype development process. If a prototype developed by the company meets the standards set by the armed forces, an order is placed for such equipment or platforms. "Everything, whether it is defence industrial corridor, or whether it is defence production and export promotion policy, or whether it is a negative list - everything works in the same direction that we have to be among the top producers of defence items," he said. On August 9, Defence Minister Rajnath Singh said the ministry was now ready for a "big push" to indigenous defence manufacturing in tune with Prime Minister Narendra Modi's call for an "Atmanirbhar Bharat" (Self-Reliant India). India is one of the most lucrative markets for global defence giants. The country has figured among the top three global importers of military hardware for the last eight years. The Indian armed forces are projected to spend around USD 130 billion in capital procurement in the next five years. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-hcl-tech-wipro-and-likes-are-hoping-global-5g-race-resumes-next-year-bringing-some-large-deals-before-that/articleshow/77583638.cms">Tech Mahindra, HCL Tech, Wipro and likes are hoping global 5G race resumes next year⁠ — bringing some large deals before that</a> <a href="https://www.businessinsider.in/international/news/gaza-strips-only-power-plant-may-run-out-fuel-in-the-next-24-hours-following-israel-border-shut-warns-expert/articleshow/77584765.cms">Gaza Strip's only power plant may run out fuel in the next 24 hours following Israel border shut, warns expert</a> <a href="https://www.businessinsider.in/tech/apps/news/the-heat-is-on-mark-zuckerberg-in-india-as-facebook-and-whatsapp-incur-the-ire-of-modis-rivals/articleshow/77575358.cms">The heat is on Mark Zuckerberg in India as Facebook and WhatsApp incur the ire of Modi's rivals</a>

After import embargo, India is creating country profiles for its defence exports

Nagpur, Nov 16 () The government is working on two policies to increase MSME exports and bring down imports by encouraging local production, Union MSME and Road Transport Minister Nitin Gadkari said on Saturday. 
 While addressing the gathering at Small Micro Enterprise (SME) conference at Nagpur, Gadkari mentioned that the MSME sector has 29 per cent contribution in country's growth and 48 per cent of export is done through MSMEs. Similarly, about 10-11 crore jobs have been created in MSMEs.
 "The government is working on two policies.Firstly on the industries which are into export business - how to support and increase their export," the minister said.
 The leather industry has a total turnover of Rs 1,40,000 crore of which Rs 80,000 crore to Rs 90,000 crore is domestic and around Rs 45,000-50,000 crore is from export.
 "I have suggested them on working on modernisation, upgradation, product designing and how to reduce the cost of production and improve quality, so that our share increases in the international market. We are working on a policy on how to strenghten export business," Gadkari said.
 He further said that secondly, the government is working on policy to increase indigenous production of products that are being imported.
 "The products that being particularly imported should get manufactured in the country itself. We are in talks with the commerce ministry on these two policies and it is in the final stages," said Gadkari.
 Gadkari emphasized on three important factors - reducing capital cost, power cost and logistic cost - to become competitive in international market and these these factors have also been discussed while making the new policy.
 Gadkari also spoke about contribution of MSMEs in the defence sector.
 Gadkari raised concern over defence procurement procedure saying that the files are stuck for many years and when the product is finalised and tenders are issued till then the product becomes outdated.
 He asked for change in Defence procurement system.
 Gadkari also said that MSMEs does not get that much work from defence sector as these should get and asked for study to make a good policy which can facilitate work for MSME in defence sector. CLS NSK MR
MR

Govt working on policy to push MSME exports: Gadkari

New Delhi, Feb 12 () The government is likely to provide certain support measures in the proposed national fisheries policy to promote exports of marine products, an official said. The government is drafting a national fisheries policy to enhance growth of marine fishery, aquaculture and mariculture in the country. "One of the prime objectives of the policy is to double fishery exports and improve lives of fishermen," the official said. The sector has been one of the major contributors of foreign exchange earnings with India being one of the leading seafood exporting nations in the world. The marine exports stand at about 5 per cent of total exports of India, which was USD 330 billion in 2018-19. It constitutes about 20 per cent of total agri-exports. During 2018-19, export of marine products stood at 13,92,559 tonnes and valued at Rs 46,589 crore (USD 6.73 billion). The rapid increase in the growth of seafood exports has been mainly due to boom in brackish water aquaculture. The official also said the greater emphasis would be given for product and market diversification in exports with improved infrastructure, trained human resources and support facilities to move up the value chain and meet international standards. Appropriate interventions are also under consideration in the policy to address the critical gaps for growths of exports, the official added. India is emerging as the fourth-largest exporters of sea food in the world and it is the second-largest aquaculture producer, and third-largest fish producer in the world. RR HRS

Support measures likely in national fisheries policy to promote exports of marine products

When <keyword id="44528" type="ORGANIZATION" weightage="100" keywordseo="FDI">FDI</keyword> is being actively promoted for all other sectors, why shouldn’t the Indian Military benefit from the same? Let us take a quick look at the pros and cons before the D-Day on July 10, when the newly elected Narendra Modi government will present its first Union Budget. 
 
Current scenario Even though India is the world’s largest importer of arms and has one of the biggest armed forces in place, it is mostly dependent on outdated Soviet equipment and technologies. The situation is further aggravated by a largely public sector arms industry, lacking the latest technologies for producing modern arms. It mostly makes ballistic missiles and functions as assembly lines for imported jet fighters. Worse still, the DRDO (<keyword id="32723" type="COMPANY" weightage="100" keywordseo="Defence">Defence</keyword> Research and Development Organisation) has not kept pace either with emerging and new defence technologies. The Ministry of Defence shot down the proposal for increasing FDI in defence by raising the bogeyman of security reasons and the need to protect the local arms industry. 
 
Impact on the Indian Armed Forces 
There has been a spate of fatal accidents due to outdated or defective equipment, along with problems related to spares and repairs. The most tragic incidents involved the submarine fleet. The Air Force, too, has had its share of loss of lives in air crashes. 
 
Morale of the Armed Forces – an overlooked factor 
Asking men to fight with defective and ageing equipment is like asking them to fight with one arm. It can adversely affect troop psychology and morale. 
 
Why India should modernise its weapons? 
Past cross-border wars and ongoing infiltrations from Pakistan and China make it necessary that India should be prepared and well-equipped to meet these challenges. After all, more than 50% of China’s arms exports go to Pakistan. Moreover, the ongoing Iraq crisis may move closer to home with disastrous consequences. Also, India has a coastline spanning more than 7,000 km to patrol and defend. China’s increasing presence in the Indian Ocean is another worrying factor for the defence forces of India. 
 
Western arms industry set to benefit? 
Billions of dollars are involved and there is keen competition to have a slice of the Indian arms pie. Last year, India imported $6 billion worth of arms and armaments, and this number is expected to grow. In contrast, the market for Western arms industries is shrinking and newer markets are required to support economic growth. Narendra Modi, the newly elected Prime Minister of India, has earlier made it clear that he is keen to strengthen the military and want to transform India into an arms exporter. India will be looking more towards sharing of technologies and manufacturing facilities for churning out finished products and won’t function like assembly line units. 
 
India’s Department of Industrial Policy and Promotion (DIPP) has recommended 49% FDI where no technology transfer is involved, 74% in cases of technology transfer and 100% for the manufacturing of state-of-the-art equipment. We need to wait and see how far the FDI ceiling will be raised by the new government. 
 
Western countries looking to ink deals 
Traditionally, Russia has been the top supplier of arms to India and it was the first to hold talks with the new government by sending Deputy Prime Minister, Dmitry Rogozin. However, all is not rosy for the Russian Bear. India is dissatisfied with its outdated technology and upset about the recent Russian offer to sell Mi-35 attack helicopters to its neighbour Pakistan with whom it has long-standing border and terrorism problems. 
 
France rushed its Foreign Minister Laurent Fabius to India, hoping to finalise among other deals the long-pending Dassault Aviation business for 126 Rafale jet fighters, worth over $15 billion. And the US wants to cement its very recent position as a leading supplier of arms to India. U.S. Senator John McCain from Arizona, which has arms manufacturers such as Raytheon and Boeing, expects his visit to be successful in helping the arms manufacturers in the US. He has advocated to the US Senate that it should support and augment India’s economic and military growth. The UK is also likely to depute its Foreign Secretary and Finance Minister, seeking to swing the deal away from Rafale to it Eurofighter Typhoon jets. 
 
National security 
Specific safeguards can be included in the contracts and licenses, granting India the right to take special steps during national emergencies. 
 
Wooing FDI 
A higher percentage of FDI is required as investors will invest only if they have a say in controlling their investments. Therefore, India will have to promote a stable environment with clear cut and fair economic policies. Political stability, combined with a skilled workforce, plenty of raw materials, low production costs and a profitable market will attract investors. But the bottom line is profit. 
 
FDI in the defence space with proper safeguards and well-thought-out policies will strengthen and make the Indian forces better equipped to do its duty. Apart from mutual economic benefits, FDI will also encourage and promote research and development in the defence sector in India. As India aims for greater economic presence globally, it will need matching military clout to make its presence felt.

Is FDI The Mantra For Modernising Indian Military?

(Eds: Combining related series) New Delhi, Apr 30 () Prime Minister Narendra Modi on Thursday held a series of meetings to discuss strategies to boost the economy amid the COVID-19 pandemic, and attract more foreign investments into India as well as promote local investments. He reviewed the state of investments, the defence and aerospace sector and the mine and mineral sector. An official statement said various strategies to bring investments into India on a fast-track mode and to promote Indian domestic sectors were discussed in the first meeting. The high-level meetings come amid the ongoing global backlash against China. Several companies are now looking for new bases to set up their businesses, according to reports. Detailed discussions were also held on guiding states to evolve their strategies and to be more proactive in attracting investments, the statement said. Reform initiatives undertaken by the various ministries should continue unabated and action should be taken in a time-bound manner to remove any obstacles which impede promotion of investment and industrial growth, the statement said, citing the discussions. The meeting also discussed that a scheme should be developed to promote more "plug and play" infrastructure in the existing industrial lands, plots or estates in the country and provide necessary financing support. During the meeting, Modi directed all concerned that action should be taken for a more proactive approach to "handhold" the investors, to look into their problems and help them in getting all the necessary central and state clearances in a time-bound manner. Given the increasingly worrying economic uncertainty, the government has moved to reassure both global and local investor community with focus on encouraging infrastructure and manufacturing sector investments. While chairing the meet on defence and aerospace, he said India should reduce dependence on imports and take forward the "Make in India" initiative to build its domestic capabilities for designing, developing and manufacturing state-of-the-art defence equipment. The meeting also discussed the potential reforms to ensure a robust and self-reliant defence industry in India that caters to short and long term needs of the armed forces. The meet also discussed initiatives to give a boost to the economy in the backdrop of COVID-19, an official statement said. The discussions involved reforming of the functioning of the ordnance factories, streamlining procurement procedures, focused resource allocation and encouraging research and development. Attracting investment in critical defence technologies and promotion of exports also came up in the meet. The prime minister laid emphasis on positioning India among the top countries of the world in defence and aerospace sectors, from design to production, with active participation of public and private sector fulfilling the twin objectives of self-reliance and exports. He reviewed the proposed reforms for attracting domestic and foreign investment in defence sector. It was discussed that defence expenditure be "economised" and the savings be channelised for strategic defence capital acquisition. Reviewing the mines and mineral sector, Modi laid special focus on improving the country's self-reliance in production of minerals and their in-country processing. Auctioning of additional blocks, encouraging wider participation in auctions, increasing the production of mineral resources, reducing the cost of mining and cost of transporting formed part of the discussion. The deliberations also focussed on increasing ease of doing business while also reducing carbon footprint with environmentally sustainable development. NAB SMNSMNSMN

PM Modi holds series of meetings to boost economy amid coronavirus crisis

India got its first ever export order for <keyword id="961030" type="General" weightage="20" keywordseo="BrahMos-missiles" source="Orion">BrahMos missiles</keyword> on Friday when the <keyword id="3750" type="General" weightage="80" keywordseo="philippines" source="Orion">Philippines</keyword>' <keyword id="43909" type="General" weightage="20" keywordseo="defence-ministry" source="Orion">Defence Ministry</keyword> signed USD 374 million contract with the <keyword id="2635490" type="General" weightage="20" keywordseo="brahmos-aerospace-pvt-ltd" source="Orion">BrahMos Aerospace Pvt Ltd</keyword> (BAPL) to supply undisclosed number of missiles, military officials stated. The BAPL, an India-Russian joint venture, produces the supersonic cruise missile BrahMos that can be launched from submarines, ships, aircraft, or from land platforms. The USD 374 million contract is to supply shore-based anti-ship BrahMos missiles to the Philippines' Navy, the military officials noted. In a statement, the Defence Ministry said: "The BAPL signed a contract with the Department of National Defence of the Republic of Philippines on January 28, 2022, for supply of shore-based anti-ship missile system to Philippines." "The BAPL is a joint venture company of the Defence Research and Development Organisation. The contract is an important step forward for Government of India's policy of promoting responsible defence exports," it added. India has already deployed a sizable number of the Brahmos missiles and other key assets in several strategic locations along the Line of Actual Control with China in Ladakh and Arunachal Pradesh. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/union-budget-2022-allocation-for-the-education-sector-in-india/articleshow/89176456.cms">Indian education sector’s budget wishlist – Subsidised access to laptops and smartphones, focus on edtech</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/ios-15-4-beta-allows-you-to-use-face-id-with-your-mask-on/articleshow/89176571.cms">iOS 15.4 Beta allows you to use Face ID with your mask on</a>

India gets first ever export order for BrahMos missiles, signs $374 million contract with Philippines

Lucknow, Nov 18 () An export promotion body on Monday suggested the government to bring out a separate policy for micro, small and medium units to address their problems.
 The Export Promotion Council (EPC) also urged the Uttar Pradesh government to link such a policy with its one-district one-product scheme. 
 The EPC highlighted various problems like credit availability and fund cost faced by MSMEs and exhorted the state and central governments and the RBI to address these issues on a priority basis.
 "Despite the significant contributions of the MSME sector, this sector is still facing several challenges such as availability of adequate and timely credit, high cost of credit, collateral requirements, access to equity capital and revival of sick units," EPC Chairman D S Rawat said here.
 "In view of these problems, the governments need to bring a separate policy for the micro and small industry and UP government should link its ambitious one-district one-product scheme with it," Rawat stressed.
 To help the sector, the EPC also announced a four-day summit and trade fair on Agro-rural entrepreneurship, unleashing opportunities for youth, women and artisans on February 13-16 in Lucknow followed by SC-ST Entrepreneurship and Women Empowerment in Purvanchal in May next year.
 The trade fair will be inaugurated by Prime Minister Narendra Modi and Home Minister Amit Shah and Defense Minister Rajnath Singh will also attend, Rawat pointed out.
 During the press conference, Rawat and Chairman of the UP Chapter of the EPC Harinarayan Rajbhar jointly released the study on MSME Sector - Uttar Pradesh.
 The state has acquired number one position both in numbers and employment.
 Uttar Pradesh has registered a 100 per cent growth in micro, small and medium enterprises between 2015-16 and 2017-18 from 44.03 lakh to 88.89 lakh, according to the study, according to the study undertaken by the MSME Export Promotion Council (MSME EPC).
 The state has been on an average adding 15 lakh new MSME units every year since 2015-16 and providing jobs to more than 165 lakh people, 27.27 lakh to female and 137.92 lakh to male, the study says. SAB SHW MR
MR

Export promotion body demands separate policy for MSMEs

New Delhi, Jan 3 () Trade promotion body TPCI on Friday suggested a five pronged strategy to the government, including mandatory pre-export certification and revamping SEZ policy for food sector, to boost outbound shipments of agricultural goods.
 The Trade Promotion Council of India (TPCI) said India has the potential to raise agri exports to USD 100 billion (about 7.10 lakh crore) in the coming years.
 It proposed 100 per cent pre-export certification, increasing customer base, branding, strengthening last mile connectivity for agri produce, and revamping SEZ policy for food exports.
 "Before trading in a new market, most countries demand that your products conform to national and international standards. As a result, your products need to be designed and tested so that they can be sold in your target countries without hassles," TPCI Chairman Mohit Singla told reporters here.
 He said pre-export certification will ensure regulatory compliance for products and meet the requirements of the countries the exporters want to ship.
 "If this is ensured, the quality of our product will also fetch premium value for food and beverages exports. The mandatory 100 per cent pre-export certification will create the brand as a reliable and good quality exporter," he added.
 To enhance customer base, the government should support companies to create different products which suit global demands, Singla said.
 He added that providing the last mile connectivity to the agri produce from the country is the need of the hour and crucial for exports.
 "Our farm produce such as pepper, cardamom, cashew, is either undervalued in global market or overvalued domestically as in case of most of the spices which fails to get a market for exports," he said.
 For special economic zones (SEZ), he said the lack of incentives for manufacturing and exports of value added food and beverages is inhibiting global players from coming to India to set up facilities.
 A foreign investor should be allowed to import raw material at zero duty and avail duty rebate proportionate to value addition, he said.
 "Also, foreign investors should be incentivised by lower duty on value addition they achieve, especially for the food sector where duty is already high," he said.
 To promote India as a global sourcing hub for the sector, TPCI is organising global food show IndusFood 2020 in Greater Noida from January 8.
 Over 1,300 global importers are participating in the show. RR
RVK

Mandate certification, revamp SEZs for food sector to boost agri exports: TPCI

When <keyword id="1334" type="COUNTRY" weightage="20" keywordseo="China">China</keyword>’s minister for commerce Zhong Shan visited <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> for the China-India Joint Group on Economic Relations, Trade, Science and Technology <a href="http://www.xinhuanet.com/english/2018-03/27/c_137068871.htm">this March</a>, a conciliatory tone was in the air. Deals were struck, investment pledges were made and China even hinted at the complementary nature between its Belt and Road Initiative and the Make in India programme. India’s commerce ministry issued <a href="http://pib.nic.in/newsite/erelcontent.aspx?relid=178060">a statement</a> the day after the meet. It announced that the two countries would work to address India’s growing <keyword id="113688" type="PERSON" weightage="20" keywordseo="trade-deficit">trade deficit</keyword> with China. While Indo-China trade reached <a href="http://www.thehindu.com/business/india-china-trade-hits-a-record-844-billion/article22970857.ece">a record $84.4 billion</a> last year, India’s exports to China comprised a mere 19% of this figure, with the rest coming from imports. This amounts to a $52 billion trade deficit. For its part, China has promised it would allow Indian exporters greater access to its markets, especially for agricultural and pharmaceutical products. The first of such schemes to seemingly achieve this was unveiled earlier this week. China is planning to hold an import-only trade fair this November, but a mere total of around <a href="https://economictimes.indiatimes.com/news/economy/foreign-trade/100-indian-traders-may-take-part-in-chinas-first-import-only-fair-in-november/articleshow/64251107.cms">100 Indian exporters</a> are expected to participate. An insufficient solution This solution is, by all accounts, a PR stunt and needs to be backed up by more comprehensive measures. Given the low level of representation and the fact that India’s exporters will be vying with companies from a number of other countries, out of the 100 participating nations, so it’s unlikely to translate into a substantial boost to India’s exports. In its defence, China has proposed <a href="https://www.livemint.com/Politics/YSK6poamZ5unLf6O0Y3WCL/China-seeks-FTA-with-India-to-boost-trade-opportunities.html">a free trade agreement</a> with India - something that both sides should work toward as well as the reduction of tariffs. India’s pharmaceutical exports to China were consistently curbed by the latter’s high duties on medicines. While China recently agreed to cut tariffs <a href="https://www.straitstimes.com/asia/south-asia/china-removes-import-duties-on-28-drugs">on 28 drugs</a>, especially cancer drugs, a specific policy to promote generic drug imports would be more beneficial to India. India is not the only country that China is trying to reduce its trade imbalance with. China has a $375 billion trade deficit with the US. Under the threat of punitive tariffs on its products, China has reportedly pledged to reduce this deficit by <a href="https://www.washingtonpost.com/business/us-china-agree-to-cut-american-trade-deficit/2018/05/20/7ce27c5c-5be6-11e8-9889-07bcc1327f4b_story.html?noredirect=on&amp;utm_term=.e28c72705fef">“significantly increasing”</a> its imports of US goods and services. The US plans to send a delegation to China soon to hammer out the details of this trade deficit reduction plan. India has shown it can act tough too In August last year, India matched its counterpart’s protectionist measures by imposing anti-dumping duties <a href="https://www.thehindubusinessline.com/economy/policy/antidumping-duty-on-93-products-from-china-nirmala-sitharaman/article9809065.ece">on 93 Chinese products</a>, including electronics, chemicals and machinery. Unfortunately, India is not as influential as the US and hence, its bargaining power is limited. It should, however, continue applying pressure to China to stand by its promises. India also needs to make its manufacturing industry less dependent on Chinese raw materials and get better at producing value-added products. India mostly exports raw materials like iron ore and cotton to China, which China can easily get from other countries, and imports finished goods like electronic items and solar panels. These are less easy to substitute because of their cheap prices. India’s dependence is hence, a huge vulnerability.

You Searched For "defence production and export promotion policy" and got 11 results

Draft defence policy aims to achieve ₹1.75 lakh crore turnover by 2025

IANS

India's new defence policy proposes a cell to re-engineer armoured vehicles, submarines, fighter aircraft, helicopters and more

IANS

After import embargo, India is creating country profiles for its defence exports

PTI

Govt working on policy to push MSME exports: Gadkari

PTI

Support measures likely in national fisheries policy to promote exports of marine products

PTI

Is FDI The Mantra For Modernising Indian Military?

Preetam Kaushik

PM Modi holds series of meetings to boost economy amid coronavirus crisis

PTI

India gets first ever export order for BrahMos missiles, signs $374 million contract with Philippines

PTI

Export promotion body demands separate policy for MSMEs

PTI

Mandate certification, revamp SEZs for food sector to boost agri exports: TPCI

PTI

China is offering India a softball solution to the two countries’ staggering trade imbalance

Dilsher Dhillon

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