New Delhi: Union Commerce and Industry Minister Piyush Goyal on Wednesday said the ongoing conflict between Russia and Ukraine is likely to impact exports of certain products from India such as pharmaceuticals, telecom equipment, tea, coffee and marine goods. ,
“As per the feedback received from the industry, exports of certain products from India are likely to be affected, which include pharmaceuticals, telecom equipment, tea, coffee, marine products, etc.,” he said in a written reply to a question in Lok. Meeting. ,
Goyal said that the commerce department is aware of the prevailing situation and is holding regular consultations with all stakeholders to ensure availability of essential imports.
Responding to questions about the possible impact of the Russo-Ukraine war on India’s trade with the two countries and whether the Center was apprised of the current trade scenario in the light of the war, Goyal said that more in the post-war scenario. exact meaning. , This can be assessed only after the situation becomes normal.
The major commodities exported from India to Russia are pharmaceuticals, telecommunications equipment, iron and steel, tea and chemicals, while imports include petroleum, pearls and semi-precious stones, coal, fertilizers and vegetable oils.
On the other hand the country’s exports to Ukraine include pharmaceuticals, telecommunications equipment, groundnuts, ceramics, iron and steel, while imports include vegetable oils, fertilizers, inorganic chemicals, plastics and plywood and allied products.
Stating that both Ukraine and Russia are major exporters of wheat with over 25 per cent share in global trade, the minister further said that disruption in exports from these countries gives India an opportunity to increase its outbound shipments of the crop.
Meanwhile, Goyal, in a separate reply, said that various meetings were held with stakeholders as part of the consultation process to formulate a new foreign trade policy, all suggestions have been taken on record for further investigation.
“A separate Foreign Trade Policy Cell was created to coordinate with various authorities in the formulation of foreign trade policy,” he said.
The Minister informed that the export of agricultural products (including dairy and dairy products) increased from USD 32.662 billion in April-January 2021 to USD 40.873 billion in April-January 2022, a growth of 25.14 per cent.
Responding to a question on the rubber sector, Goyal said that the government is contemplating to amend the existing Rubber Act, 1947 to remove some outdated provisions, create a conducive environment for ease of doing business and create a world-class rubber industry. . ,
“In this regard, a draft Bill – the Rubber (Promotion and Development) Bill 2022 – has been placed for wider consultation and comments/suggestions have been sought from the public/stakeholders by April 9, 2022,” Goyal said. said. ,
“As of March 10, 477 stakeholders and the public have submitted their suggestions on the draft Bill, including some suggestions for not introducing the new Rubber (Promotion and Development) Bill, 2022,” he said.
Goyal further said that “all suggestions received from stakeholders including the Kerala government and the public” would be taken into account before finalizing the bills.
The Kerala government has suggested amendments to certain provisions of the Draft Rubber Bill and the Draft Spices (Promotion and Development) Bill 2022.
The suggestions in the draft Spices Bill include a scheme for production of cardamom only, apprehensions over the legality of registration of cardamom estate owners being carried out by the state government, provision for the Center to consult the Spices Board with regard to import and export of spices. , besides a clause to prohibit/control the import of spices and repeal the Cardamom (Licensing and Marketing) Rules, 1987.