Category — Agriculture

India’s Government Creates $1.2 Billion Dairy Fund

While presenting the annual budget for 2017, India’s minister for finance, Arun Jaitley, announced the setting up of a Dairy Processing and Infrastructure Fund through the National Bank for Agriculture and Rural Development. The fund corpus of $1.2 billion will be disbursed over a period of three years, starting with $296 million for the first year.

Cows grazing

According to India’s National Dairy Development Board, milk production in India is rising and collaterally so is dairy consumption. An average of 18.5% of the monthly budget for food is spent on dairy products in the rural areas, while in urban areas the average is 20.25%, says the Dairy Reporter.

April 23, 2017   No Comments

India’s Dairy Sector Buoyant Despite Global Slump

According to Dublin, Ireland-based Research and Markets, India, the largest producer and consumer of milk globally, should report a 15.6% year-on-year growth in revenues for this year.

India’s demographics and dietary habits have changed over the past two decades, and the demand for cheese, ice cream, and yogurt now takes precedence over the demand for just milk.

Cows in a pastrue

Globally, milk prices have remained low last year because of weak import demand and oversupply. This was compounded by the slow down in the economy of China, Russia‘s ban on EU produce, and the abolition of the EU’s dairy production quotas, says the Dairy Reporter.

April 23, 2017   No Comments

India to Double Import of Washington Apples

Rebecca Lyons, International Marketing Director, Washington Apple Commission, (a self-governing body of growers and packers) told newspersons that the ‘Red Delicious’ variety of Washington Apples will flood India from September, with a record import till August 2018; and that imports of the fruit is likely to double this year to nearly 5.5 million tons.

Red delicious variety of Washington Apples

Keith Sunderlal, the India representative of the Washington Apple Commission, said that the Commission wants to focus on tier-2 and tier-3 cities of India by increasing branding and creating more awareness about Washington Apples, which are currently available in over 100 cities reports BusinessLine.

 

April 12, 2017   No Comments

Impact Investor Acumen To Raise India-Dedicated Fund

Headquartered in New York City, global impact investor Acumen is planning to launch an India-dedicated fund, as the investor plans on raising funds from India.

The company was incorporated in 2001 by Jacqueline Novogratz, with seed capital from the Rockefeller Foundation, Cisco Systems Foundation and individual philanthropists. Acumen’s work in India spans four sectors—healthcare, education, clean energy and agriculture.

Acumen Logo

Ajit Mahadevan, India director at Acumen said, “Across the four sectors we work in, we will look at these two enabling themes [technology and financing], because on the back of that you can create accelerated impact. All our education companies have a technology element. In agriculture, the focus is on access to markets using technology,”  The impact investor is exploring new avenues such as student and school financing, health insurance and MSME debt financing, reports Livemint.

“Acumen has invested over $100 million globally and the largest country is India. About a third of that has been invested in India, around $32 million, making us the largest non-microfinance investor in our sectors,” added Mahadevan.

April 9, 2017   No Comments

U.S. and India Explore Ways to Boost Trade, Investment

U.S. Trade Representative Ambassador Michael Froman, and Minister for Commerce and Industry, India, Nirmala Sitharaman met in Delhi on October 20, for the tenth ministerial-level meeting of the India and United States Trade Policy Forum (TPF), to discuss ways to further improve trade and investments relations. TPF is the premier bilateral forum for discussion and resolution of trade and investment issues between the two countries.

Minister Sitharaman and Ambassador Froman discussed and exchanged views on a range of trade and investment issues, in particular, (i) Agriculture, (ii) Trade in Services and Trade in Goods, (iii) Promoting Investment in Manufacturing, and (iv) Intellectual Property.

US and India Flags

Some takeaways from the meeting:

Both countries agreed to continue working to facilitate bilateral trade in food and agricultural products and committed to holding technical dialogues on animal health, plant health, and food issues during 2017.

The importance of e-commerce, retail and direct selling in facilitating trade in goods was acknowledged by both sides. India noted that 100 percent foreign direct investment is now permitted in the marketplace model of e-commerce as well as in the distribution of food products produced in India, including through e-commerce.

Both countries emphasized that the timely resolution of disputes through a strong judicial system fosters an attractive investment climate and improves the ease of doing business.  The United States welcomed India’s establishment of commercial courts, streamlining of its arbitration procedures, and its ongoing efforts for timely resolution of commercial disputes.

Minister Sitharaman and Ambassador Froman welcomed the enhanced engagement on intellectual property rights under the High Level Working Group on Intellectual Property, and reaffirmed their commitment to use this dialogue to continue to make concrete progress on intellectual property rights issues.

The United States and India Joint Statement on the Trade Policy Forum can be found here.

November 4, 2016   No Comments