Category — Agriculture

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

India and Los Angeles, Much Closer Than You Might Think

Los Angeles is the top ranking U.S. customs district with trade exceeding $393 billion in 2015. Despite being halfway around the world from, India is a Top 10 trading partner with Los Angeles, actually ranking ninth and ahead of Pacific Rim countries such as Australia (#10), Indonesia (#12), and Philippines (#15).

According to US Trade Numbers, Los Angeles traded $9.8 billion with India in 2015, with American exports at $4.1 billion and imports at $5.6 billion.

vincent_thomas_bridge-san_pedrowikipedia

Port of Los Angeles (Creative Commons Photo, Wikipedia)

Top exports to India from the Los Angeles area include

  • gold, silver and unmounted diamonds
  • telecommunications equipment, including phone and parts
  • agricultural products especially tree nuts and cotton
  • medical technology, medical devices and instruments
  • computers
  • petroleum products.

Top Imports from India direct to the Los Angeles customs district include

  • jewelry, jewelry parts and diamonds
  • seafood
  • gasoline
  • textiles: linen for bed, bath, kitchen; clothing for men and women
  • furniture parts

For India the top five U.S. customs districts are New York with $19.7 billion of trade, Los Angeles with $9.8 billion, Atlanta with $4.2 billion, Houston with $3.9 billion, and Chicago with $3.8 billion in 2015.

If you scan the Los Angeles customs district by commodity, India ranks highly in several categories. For example India is the largest recipient of diamonds from Los Angeles, exceeding such famous destinations for these stones as Israel and Belgium. For gold exports, India is third, ahead of the United Kingdom, China, Canada and Mexico.  India is the sixth largest recipient of cotton from the Los Angeles district, ahead of Taiwan, Pakistan, Japan, Germany, Spain, Bangladesh and Egypt.

Technical products

In phone equipment, India ranks fifth and receives more American exports than Taiwan, Mexico, South Korea, the United Kingdom, Japan, Germany and Brazil! For medical devices, India is ranked ninth, which is ahead of France, the United Kingdom and Taiwan.  For computers, India ranked #13 in the year 2015 for exports from the Los Angeles area.

The Upshot

Trade between Los Angeles and India will continue to rise disproportionately compared to U.S. trade overall. We expect this trend to continue at least until 2025.

 

 

 

October 29, 2016   No Comments

India Ratifies Paris Agreement on Climate Change

India ratified the Paris Agreement on the birthday of Mohandas K. Gandhi ( Mahatma Gandhi, revered as the Father of the Nation by Indians),  who was born Oct. 2, 1869.

“Today the government of India has demonstrated global leadership and vision by joining the Paris agreement on climate change,” U.N. Secretary General Ban Ki-moon tweeted.  “This historic step will further India’s sustainable path to growth and development.”

Climate Change

Currently sixty-two countries have joined, representing 52 percent of global emissions, according to the United Nations’ Framework Convention on Climate Change, reports the Washington Post.

Ajay Mathur, director general of the Energy and Resources Institute, New Delhi, said that the government plans to achieve its climate goals in three ways:

  • Launch a market next year to balance supply and consumption of electricity
  • Institute a program to increase the efficiency of the agriculture sector
  • Spur more efficient technologies in air conditioning, since cooling accounts for half of the growth in new electricity demand

October 3, 2016   No Comments