India Economy Thread

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India has caved in, somewhat. Lets see what comes to pass. Farmers won't like it. A very slippery slope.

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Shrimp exports to EU, Russia, Australia set to swell; major relief for domestic fisheries - The Economic Times

The Centre has ironed out legacy issues with a number of key markets and is fixing trade hurdles, Commerce minister Piyush Goyal said.
m.economictimes.com m.economictimes.com
 
Thinking said:
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India has caved in, somewhat. Lets see what comes to pass. Farmers won't like it. A very slippery slope.

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Shrimp exports to EU, Russia, Australia set to swell; major relief for domestic fisheries - The Economic Times

The Centre has ironed out legacy issues with a number of key markets and is fixing trade hurdles, Commerce minister Piyush Goyal said.
m.economictimes.com m.economictimes.com
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I think we’ll eventually allow limited imports of soya and maize and also processed agro items like DDGS for livestock feed, this move was long overdue, honestly. My business is deeply involved in the agro sector, and we produce livestock feed. The reality is that India’s poultry and egg exports can’t compete globally because of our raw material costs, maize is about Rs 14/kg in the US, while it’s around Rs 20/kg here (was Rs 28 last year).

If our agro and food processing industries are to compete internationally, they need access to raw materials at globally competitive prices. Indian agriculture has been protected for decades from foreign competition, innovation, and even better seed genetics which has made it inefficient. This was always common sense economically, but politically untouchable. In a way, it took someone like Trump to push us toward doing what was already the right thing.
 
vasanthm said:
I think we’ll eventually allow limited imports of soya and maize and also processed agro items like DDGS for livestock feed, this move was long overdue, honestly. My business is deeply involved in the agro sector, and we produce livestock feed. The reality is that India’s poultry and egg exports can’t compete globally because of our raw material costs, maize is about Rs 14/kg in the US, while it’s around Rs 20/kg here (was Rs 28 last year).

If our agro and food processing industries are to compete internationally, they need access to raw materials at globally competitive prices. Indian agriculture has been protected for decades from foreign competition, innovation, and even better seed genetics which has made it inefficient. This was always common sense economically, but politically untouchable. In a way, it took someone like Trump to push us toward doing what was already the right thing.
Click to expand...

The right for whom? Not only US food will give you cancer, long term, cheap import will destroy the lifes of crores of farmers. We are not importing cheap technology! What needs to be done in India is to reduce participation in farming. "Right thing" will lead to collapse of governments and riots.
 
Thinking said:
The right for whom? Not only US food will give you cancer, long term, cheap import will destroy the lifes of crores of farmers. We are not importing cheap technology! What needs to be done in India is to reduce participation in farming. "Right thing" will lead to collapse of governments and riots.
Click to expand...

You sound like the ppl who were opposed to the green revolution, import of wheat varities etc
 
vasanthm said:
You sound like the ppl who were opposed to the green revolution, import of wheat varities etc
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I guess I just don't want to join the lucky cancer club (one of the few clubs brought in by food "revolution"). I am old fashioned that way. Indian food is toxic enough with all the pesticides.
 
SoulSpokesman said:
@Thinking @vasanthm

Allowing greater access to US farm products will hurt our farmers. It will create social and political turmoil.

I don't buy this health risk bulls**t though. If Americans and Chinese can eat GMO food and derived products, so can we.

Regards
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We actually incentivise our farmers to produce crops in excess of what the domestic market needs rice, wheat, sugarcane, etc while we end up spending billions in foreign exchange importing edible oil, pulses. This distortion makes our agro exports and related industries far less competitive.

We should protect our farmers but also gradually expose them to global competition with safeguards. That’s how they’ll grow, adopt better technology, and become globally competitive. If you visit the US, you’ll find garlic paste and tomato puree imported from China, Azerbaijan exports Tomatoes to Russia yet here, farmers in regions like Kolar are dumping tomatoes on the roadside because of price crashes.

Given our arable land and climate diversity, India should easily be able to feed itself and still become an agricultural superpower. Ukraine is a good example, a country much smaller than ours that supplies much of the world’s soya and sunflower oil.

If you want to hear a grounded, data driven view of Indian agriculture, listen to experts like Ashok Gulati. My forefathers were farmers, I run an agro business myself, and I’ve studied public policy at some of the best institutions globally and it frustrates me when armchair commentators in India, who’ve never even grown a vegetable in their lives, claim to know what’s best for our agro economy and farmers.
 
Thinking said:
I guess I just don't want to join the lucky cancer club (one of the few clubs brought in by food "revolution"). I am old fashioned that way. Indian food is toxic enough with all the pesticides.
Click to expand...

Some of the new technology in plant genetics decrease the use of pesticides massively, but for that you have to allow the research and stop the hippy crowd from destroying trial fields etc
 
Thing is that most India farmers owe very little land. No amount of "tech" can fix it. Farming is simply not competitive in India ( I own some farming land). Unless we introduce corporate farming at big scale, we will never be able to compete. Subsistence farming is a large thing in India.

Without a massive change in the way farming works in India, nothing is moving forward.
 
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And the bad news
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Interesting development !!
myind.net

India exports jet fuel to US West Coast for the first time after supply shortage

Amid ongoing trade-related issues, India has for the first time exported jet fuel to the United States West Coast. The shipment has been arranged for Chevron, which is a major global energy company. A Reuters report said that this export chance came up because supplies in Los Angeles were tight...
myind.net myind.net
 
it's a start..

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