Deven Traders

11/11/2015

29/03/2013

Amul, India’s largest dairy co-operative of India has expressed concerns over the free trade agreement (FTA) being negotiated between India and European Union (EU).

R S Sodhi, managing director of Amul, has communicated it to the commerce minister that if the demands of the EU are met while finalising the agreement then it will severely affect the Rs 3 lakh croremilk processing industry in India.

The EU’s demands include protection of cheeses like Gouda, Feta and Emmenthal under GI (Geographical Indication) protection, meaning that Indian producers cannot give such qualitative names to their own cheese.

That’s because the origins of such variants can be traced back to Europe.

Now several India cheese producers including Amul use words such as Gouda and Emmenthal selling their versions and this will consequently have to be withdrawn if EU’s demands are met. The cheese industry in India is believed to rack up around Rs1,000 crore sales annually.

Countering this, Sodhi said even Europeans companies sell products such as Paneer and Lassi, which are believed to have originated in India, without any talk of GI protection for them.

The other bone of contention is that EU does not allow import of dairy products from India saying they don’t meet the consumption standards.

Sodhi retorts: “EU subsidises milk farmers by giving various incentives on export of their dairy products, which actually make them cheaper than the cost. So EU wants to export such subsidised dairy products to India without giving access to Indian dairy products to its own market, which have large non-resident Indian population.”

Sodhi told DNA similar concerns were raised over the FTA being negotiated between India and New Zealand.

FTA is a bilateral trade agreement between nations that liberalise trade and investment between the member countries by reducing tariffs and removing investment roadblocks. India and European Union have been negotiating a FTA since 2007 and are hoping to close the argument by this April.

WHAT EU WANTS
Protection of cheeses like Gouda, Feta and Emmenthal under GI (Geographical Indication), meaning Indian cheese producers cannot give such qualitative names to their own cheese

EU does not allow import of dairy products from India on the grounds that the product don’t qualify the consumption standards

AMUL’S COUNTER
Even Europeans companies sell products called Paneer and Lassi, which are believed to have originated in India, and there’s no talk of any GI protection about them

EU wants to export heavily subsidised dairy products to India without giving Indian dairy products access to its own markets that have a large NRI population

24/03/2013

We hope you had a wonderful weekend and are ready for a brand new week. Here's to wishing you a splendid week ahead ... and don't forget that with experience you will earn money! So strive to gain experience!

22/03/2013

NEW DELHI: Commerce and Industry Minister Anand Sharma today said his ministry aims to multiply the country's total trade five times to USD 5 trillion in the next 10 years.

In 2011-12, India's total trade stood at about USD 1,000 billion. It comprises exports and imports of merchandise goods and services.

"These are not small numbers. But if you will ask us whether we are comfortable with this? Certainly not," Sharma said at the Indian Institute of Foreign Trade (IIFT) Convocation programme here.

"I will love to see this number multiplying five-fold in one decade so that India's two-way trade become USD 5 trillion. This could be done by diversifying the trade basket and engaging more with other countries," he said.

Further, Sharma said, "I am sure that the statement I am making will be questioned by economists and analysts. But if you do not think big, then it won't be achieved."

However, during the April-February period this year, India's exports declined by 4 per cent to USD 265.95 billion. Imports during the 11-month period grew by a mere 0.25 per cent to USD 448 billion, leaving a trade deficit of USD 182.1 billion.

Sharma said it is a difficult situation that the country is facing.

"I am sure the trade deficit for the current fiscal will be USD 190 billion plus, which will affect the current account deficit," he said, adding, therefore, the only way to handle this situation is to increase India's exports globally.

With a view to boost exports, the government will announce incentives for exporters in the forthcoming foreign trade policy (FTP) next month, he added.

22/03/2013

Budget of Government of NCT of Delhi in 2013-14 proposed at 37450 crore Rupees
Plan Budget – 16000 crore Rupees
Non-Plan Budget - 21000 crore Rupees
Centrally Sponsored Scheme – 450 crore Rupees
The Social Services Sectors receive the highest priority in terms of budgetary allocation under Plan and proposing an outlay of 10359 crore with a share of about 65% of total Plan Budget.

19/03/2013

The rupee gained 26 paise to 53.91 against the dollar in early trade on Tuesday at the interbank foreign exchange on fresh selling of the US currency by exporters ahead of RBI's policy review.

Strengthening of euro against the dollar overseas on easing fears about a controversial bailout for Cyprus and also a higher opening in the domestic equity market supported the rupee, forex dealers said.

19/03/2013

Trade target between India and Africa to $100 billion.

Union Minister for Commerce, Industry and Textiles Anand Sharma met his counterparts from various African countries on Monday at a round table conference chaired by him. He informed the ministers that in spite of the sluggish trade growth, the bilateral trade target with Africa was being increased.

18/03/2013

DEVEN TRADERS as an Exporter from INDIA..!!

18/03/2013

Bismuth Metal 99.99 % Exported to Australia

DEVEN TRADERS as an Exporter from INDIA