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Profit before tax (before exceptional items) stood at Rs 1,372.2 million as compared to profit before tax (before exceptional items) of Rs. 1,965.7 million in the prior-year quarter.

 BASF India Limited has registered sales of Rs 32,917.6 million for the third quarter, which ended on December 31, 2021, as compared to Rs. 25,065.4 million in the corresponding quarter of the previous year, representing a growth of 31 per cent.

The Company reported Profit before tax (before exceptional items) of Rs 1,372.2 million as compared to profit before tax (before exceptional items) of Rs. 1,965.7 million in the prior-year quarter.

“BASF registered a sales growth of 31 per cent over prior year quarter with a double digit growth in both volumes and prices. Supply chain disruptions in key customer industries such as the automotive sector impacted by chip shortages, caused challenges in demand. However gains in market position and new business secured through enhanced customer engagements enabled the company to overcompensate and grow volumes”, said Narayan Krishnamohan, Managing Director, BASF India Limited.

“Maintaining healthy margins and cost levels in an inflationary environment continues to be a priority for the company”, he added.

For the nine months ended on December 31, 2021, the Company registered sales of Rs. 97,101.7 million, as compared to Rs. 67,527.6 million for the corresponding period of the previous year, an increase of 44 per cent. Profit before tax (before exceptional items) stood at Rs 5,688.5 million for the nine months ended December 31, 2021, compared to profit before tax (before exceptional items) of Rs. 2,672.6 million for the corresponding period of the previous year.

Profit before tax (before exceptional items) stood

Year-over-year sales grew 25 per cent organically

FMC Corporation has recently reported a record of fourth quarter 2021 results with revenue of $1.41 billion, an increase of 23 per cent versus fourth quarter 2020, driven by strong demand and pricing actions. Excluding the impact of foreign exchange, year-over-year sales grew 25 per cent organically. On a GAAP basis, the company reported earnings of $1.52 per diluted share in the fourth quarter, compared to $0.38 per diluted share in the fourth quarter 2020. Adjusted earnings were $2.16 per diluted share, an increase of 52 per cent versus fourth quarter 2020, and 16 cents above the midpoint of guidance.

“Our financial performance reflects the strength of our synthetic and biological portfolios, a healthy demand environment as well as accelerating price increases. Revenue growth was particularly robust in North America and Latin America,” said Mark Douglas, FMC president and chief executive officer.

Fourth quarter revenue growth was driven by 21 per cent contribution from volume and 4 per cent contribution from price with a 2 per cent currency headwind. FMC achieved higher pricing in all regions, with the highest benefit in the quarter coming from North America and Latin America. 

In Asia, revenue was down 3 per cent compared to fourth quarter 2020, primarily due to weather challenges in several countries, including China. This offset solid growth in Australia and India, as well as broad-based pricing actions in the region.

Year-over-year sales grew 25 per cent organicallyFMC

The order aims at regulating storage and distribution of edible oils and oilseeds besides, keeping check over hoarding in the country

Centre has chaired a meeting with States/UTs to implement Stock Limit Order of edible oils and oilseeds. The Government of India has notified an order on February 3, 2022, specifying the stock limit quantities on edible oils and oilseeds upto June 30, 2022 with a view to provide impetus to the various steps taken by the Government to cool the prices of edible oil in the country.

The Stock Limit Order empowers the Union Government and all States/UTs to regulate storage and distribution of edible oils and oilseeds. This would also help the Government in checking hoarding of edible oils and oilseeds in the country. A Meeting was held by the Department of Food & Public Distribution on February 8, 2022, with all States/UTs for discussing the implementation plan of the above order dated 3rd February, 2022.

During the meeting it was emphasised that States/UTs authorities may enforce Stock Limit Quantities Order without causing any disruption in the supply chain and also any undue hardship to bonafide trade.

For edible oils, the stock limit specified is 30 quintals for retailers, 500 quintals for wholesalers, 30 quintals for retail outlets of bulk consumers i.e., big chain retailers and shops and 1000 quintals for its depots. Processors of edible oils would be able to stock 90 days of their storage capacities.

For edible oilseeds, the stock limit is 100 quintals for retailers, 2000 quintals for wholesalers. Processors of edible oilseeds would be able to stock 90 days production of edible oils as per daily input production capacity. Exporters and importers have been kept outside the purview of this Order with some caveats.

The order aims at regulating storage and

The company has 50,000 retailers and over 1,000 products in its portfolio

nurture.farm, India’s leading AgTech startup for end-to-end agriculture ecosystem related solutions, announced that its online platform nurture.retail is emerging as India’s biggest and fastest-growing online agriculture input marketplace. nurture.retail is an online e-commerce platform that is transforming the ag-input marketplace by unlocking digital connections between manufacturers, retailers and dealers.

The nurture.retail app is operational in 13 states of India—Punjab, Uttar Pradesh, Haryana, Rajasthan, Odisha, Jharkhand, Bihar, Gujarat, Madhya Pradesh, Tamil Nadu, Andhra Pradesh and Telangana. nurture.retail is a platform that allows agriculture input retailers and distributors to buy pesticides (insecticides, herbicides, fungicides), fertilisers and other nutrition and biological products, farming equipment, seeds and cattle feed directly from the manufacturers.

The B2B agriculture input marketplace by nurture.retail has an exhaustive inventory and a wide array of products from 12+ manufacturers like SWAL, UPL, Godrej Agrovet, Yara International, Sulphur Mills, Best Agro Life, Neptune Pumps, IPL Biological, Eagle seeds, Raccolto, Spraywell Agro, Agriown, Goldking, making product discovery extremely convenient and easy. With over Rs 100 crore worth of inventory sold per month via the platform, retailers can pre-order products to meet demand at the best prices.

The company has 50,000 retailers and over

Extracting fuel can tremendously help the country attain fuel self-sufficiency

Indian Institute of Technology Madras researchers are using artificial intelligence tools to study the processes involved in the conversion of biomass to gaseous fuel. With increasing environmental concerns associated with petroleum-derived fuels, biomass is a practical solution, not in the conventional sense of directly burning wood, cow dung cakes, and coal, but as a source of energy-dense fuel. Researchers all over the world are finding methods to extract fuel from biomass such as wood, grass, and even waste organic matter.

Such biomass-derived fuel is particularly relevant to India because the current availability of biomass in India is estimated at 750 million metric tonnes per year and extracting fuel from them can tremendously help the country attain fuel self-sufficiency.

The research was led by Dr Himanshu Goyal, Assistant Professor, Department of Chemical Engineering, IIT Madras and Dr Niket S Kaisare, Professor, Department of Chemical Engineering, IIT Madras.

The paper has been co-authored by Dr Himanshu Goyal, Dr Niket Kaisare and Krishna Gopal Sharma, Fourth Year B.Tech. Student, Department of Computer Science and Engineering, IIT Madras.

Explaining the importance of such studies, Dr Himanshu Goyal, Assistant Professor, Department of Chemical Engineering, IIT Madras, said, “Understanding the complex mechanisms involved in the conversion of raw biomass into fuel is important for designing the processes and optimising reactors for the purpose.”

While models are being developed all over the world to understand the conversion of biomass into fuels and chemicals, most models take a long time to become operational. Artificial Intelligence tools such as Machine Learning (ML) can hasten the modelling processes.

The IIT Madras research team used an ML method called Recurrent Neural Networks (RNN) to study the reactions that occur during the conversion of lignocellulosic biomass into energy-dense syngas (gasification of biomass).

Extracting fuel can tremendously help the country

Farmers have started to realise the importance of adopting new technologies to increase their yield and reduce input cost. Rajesh Aggarwal, MD, Insecticides (India) gives an insight

For approximately 58 per cent of India’s population, agriculture is the primary source of income. It accounts for more than 20 per cent of India’s GDP, making it the backbone of the country’s economy. Over the last two decades, India’s rapid adoption of mobile phones has aided in closing the agricultural productivity gap and facilitating technology adoption. In terms of overcoming supply chain challenges and increasing yield, income, and sustainability, technology has proven to be a great enabler. Technology in agriculture aids farmers in gaining access to markets, inputs, data, advice, credit, and insurance, allowing them to make more profitable agricultural decisions.

As lockdown and covid posed challenges, farmers started adopting technology on a greater scale. COVID-19 paved the way for the advancement of digital technology in all sectors and farming was no exception, accelerating growth by ensuring higher crop yields and improving sustainability by reducing water consumption and promoting the judicious use of agrochemicals.

Farmers have started to now realise the importance of adopting new technologies to increase their yield and reduce the input cost. Tech-savvy farmers are now earning more than they used to. As a result, after the initial hiccups caused by the COVID-19 pandemic, India’s agri technology sector has emerged as one of the fastest-growing sectors in India.

Leveraging technology to help farmers

Since the beginning of the COVID-19 pandemic, digital agriculture tools have enabled farmers to continue receiving advisory, obtain much-needed financing, receive farm inputs, and identify new markets for their products. Agritech companies are helping farmers to stay connected and thrive. The companies can remove the middlemen, allowing farmers to sell their produce directly to consumers online. Agritech start-ups in the country received $300 million in investments in 2020, and the industry is expected to grow at a CAGR of 32 per cent from FY20 to FY25. Using technology in agriculture accelerates the process and ensures a positive impact on the environment as well as a long-term, profitable future that meets the demand for food.

 Rise of the digital era in farming

Artificial Intelligence (AI), Machine Learning (ML), remote sensing, Big Data, Blockchain, and the Internet of Things (IoT) are transforming agricultural value chains and modernising operations. While several countries, including the Netherlands, the US, Australia, and Israel have successfully adopted and exploited digital solutions to revolutionize agriculture, India is still in its early stages. The Public-Private Partnership (PPP) model will foster the adoption of digital agriculture in India. 

For example, a project led by the International Food Policy Research Institute (IFPRI) and supported by the Digital Credit Observatory (DCO) and the Consultative Group on International Agricultural Research (CGIAR), used satellite images and smartphone pictures collected from farmers to generate credit scores that could be used to extend loans to farmers without an on-site visit.

During the pandemic, many agritech providers adapted digital agriculture solutions to include e-commerce realising that finding markets for their products had become a pressing concern for farmers. In some cases, these e-commerce capabilities are as simple as connecting buyers and sellers via messaging or social media platforms such as WhatsApp, Facebook, or Twitter. Agri companies have enhanced their digital initiatives by providing help through apps and call centres.

The Ministry of Agriculture’s app Kisan Rath came in handy in response to transportation restrictions and mandi (market) closures that impacted farmers across India. The app, which runs on Android, is similar to Uber in that it connects farmers and traders with transportation companies. Farmers upload information about the crop’s volume and destination. Owners of trucks can then agree to transport that volume to the correct location. Despite some early glitches, the app registered over 80,000 farmers and 70,000 traders in the first week of operation, indicating that there is a demand for this type of service.

The National Agriculture Market (eNAM), a pan-India electronic trading portal that connects the existing APMC mandis to create a unified national market for agricultural commodities, is one of the many initiatives launched by the government. The Digital Agriculture Mission 2021–2025 is another initiative that aims to support and accelerate projects based on new technologies such as artificial intelligence, blockchain, remote sensing and GIS technology, and the use of drones and robots. The Jio Agri (JioKrishi) platform, which was launched in February 2020, digitises the agricultural ecosystem throughout the value chain to empower farmers. The DBT Agri Portal, which was launched in January 2013, is a centralised portal for agricultural schemes across the country. Through government subsidies, the portal assists farmers in adopting modern farm machinery.

The future

The government has approved the spray of agrochemicals via drones, and trials are already underway by institutes and companies. Drones are currently being tested for use in the cotton-growing region along with other crops of the country to spray pesticides to control pests that would otherwise be treated by agricultural labourers, which takes a long time and does not always result in uniform spraying. They not only reduce the risk of unintentional fume inhalation but also speed up the pest control process by covering larger areas in less time. The main advantage of using a drone is that it uses less water and pesticide and allows for more precision during the application process. Pesticide companies are required to submit phytotoxicity studies under the directives issued by the government. This will significantly contribute to research, leading to increased productivity in the coming years. Though commercialisation will take some time, it is encouraging that the government is moving in this new direction.

Among other technologies, remote sensing, soil sensors, unmanned aerial surveying, and market insights enable farmers to gather, visualise, and assess crop and soil health conditions at various stages of production conveniently and cost-effectively. They can act as an early warning system, identifying potential issues and providing solutions to address them as soon as possible. AI/ML algorithms can generate real-time actionable insights to help farmers improve crop yield, control pests, assist in soil screening, provide farmers with actionable data, and reduce their workload. Blockchain technology enables tamper-proof and precise farm and inventory data, as well as quick and secure transactions for the farmers. Hence, they are no longer reliant on paperwork or files to record and store critical data. More such state-of-the-art technologies will continue to be valuable tools for connecting with farmers next year too. The year 2022 will be a year of innovations that will greatly benefit the agricultural sector. 

Despite all technological advancements taking place only a handful of farmers are being benefitted by the same, a large number of farmers are still far away from the same due to numerous reasons, again the role of education and training becomes pivotal for the farmers which requires a joint effort by the government agencies and the industry. 

Farmers have started to realise the importance

Technological know-how has been provided to the farmers of all the states

The ICAR-National Research Centre for Banana, Tiruchirappalli, Tamil Nadu along with its associate partner – Navsari Agricultural University, Navsari, Gujarat has licensed and transferred a Farmers’-friendly Macropropagation Technology to the Gujarat-based Jarvi Nursery.

Dr S Uma, Director, ICAR-National Research Centre for Banana, Tiruchirappalli & Inventor of the Technology stated that before commercialisation, the technology was tested in Karnataka, Odisha, Gujarat, Maharashtra, Kerala, Andhra Pradesh, Assam, West Bengal and Bihar representing the different agro-climatic zones for its viability. She underlined that the technology’s success has been witnessed and technological know-how has been provided to the farmers of all the states.

Dr S Backiyarani and Dr MS Saraswathi, Principal Scientists And Co-Inventors of the Technology outlined that a minimum of 25 healthy, true to type, disease-free plants may be obtained from the single sucker within the period of three to four months and throughout the year without any seasonal barriers.

Technological know-how has been provided to the

Consolidated income from operations stood at Rs 585.64 crore

Praj Industries (Praj) announced its unaudited financial results for the quarter and nine months ended December 31, 2021. In Q3 FY22, the consolidated income from operations stood at Rs 585.64 crore, PBT is at Rs 50.25 crore for the period and PAT is at Rs 37.05 crore.

For 9M FY22, the consolidated, income from operations stood at Rs 1,504.31 crore, PBT is at Rs 126.83 crore for the period, PAT is at Rs 92.60 crore. The consolidated order backlog as of December 31, 2021, stood at Rs 2,605 crore which comprised 80 per cent domestic orders and 20 per cent international orders.

Shishir Joshipura, CEO & MD, Praj Industries said, “Our performance during the quarter witnessed continued build-up of healthy order book with international business also showing sign of traction. We have aligned our execution processes to manage the increasing volumes across the businesses. The rise in commodity prices led to continued pressure on margins. We remain optimistic of sustainable growth.”

Consolidated income from operations stood at Rs

Benson Hill will release its financial results for the fourth quarter and full year ending December 31, 2021 

Benson Hill, a provider of crop design platform to develop healthier and more sustainable food and ingredients has announced recently that it will release its financial results for the fourth quarter and full year ending December 31, 2021 and provide guidance for 2022, before market open on March 28, 2022.

The Company will host a webcast to discuss the results at 8:30 am. Eastern Time, including a presentation by management followed by a Q&A session.

Benson Hill moves food forward with the CropOS platform, a cutting-edge food innovation engine that combines data science and machine learning with biology and genetics. 

Benson Hill will release its financial results

Bayer will present three new bio technologies, crop protection innovations, digital solutions and new business models during the 34th edition of the Rural Coopavel Show

Bayer, a global company focussed on Life sciences has announced that it will present three new biotechnologies, crop protection innovations, digital solutions and new business models during the 34th edition of the Rural Coopavel Show. The event will be the first opportunity to share in person at a fair – since the beginning of the pandemic – the solutions developed to contribute to a more productive and sustainable agriculture, in addition to showing what will be built collaboratively with farmers in the coming years.

According to Fábio Prata, marketing director for Bayer’s clients in Brazil, “One of our missions as an organisation is to support producers to produce more, in the same area and in a more sustainable way. During the Show Rural Coopavel, we will have the opportunity to show up close, albeit with restrictions due to the moment we are going through.”

Between February 7th and 11th, visitors to the event will be able to check out the new digital model that Bayer has developed for its customers through Espaço Bayer, a virtual platform that offers an immersive and fully customised experience based on the needs and peculiarities of the producer. 

“Our priority is to be closer and closer to our customers, regardless of the channel, so that we can understand the producer’s pain and deliver solutions that generate value”, says Bayer’s marketing director. In addition to exploring the benefits of the program, producers will have the opportunity to learn more about exclusive experiences, as well as access services redeemable through their program points, which can be accumulated by purchasing solutions from any of the brands on display.

During the Rural Coopavel Show, visitors will be able to follow this path of digital transformation of the countryside and experience the features of Climate FieldView, Bayer’s digital agriculture platform that already maps more than 22 million hectares in Brazil. 

Bayer will present three new bio technologies,

Arya.ag aims to fasten march as the country’s largest farming community focussed fintech player

Arya announced a tie-up with leading NBFC ,MAS Financial Services to offer agri-finance to farmers with a specific focus on small farmers and FPOs. The services will be offered by Arya.ag’s lending services arm, Aryadhan Financial Services.

The alliance will leverage Arya.ag’s digital technologies-led customer interface that enables a seamless and intelligent new-age end-user experience delivered over the fintech platform. Arya.ag’s distinct near-farm gate integrated offering, spanning storage solutions, digital lending and digital marketplace, works as the ideal platform for small & marginal farmers otherwise deprived of access to financial services.

Initially, the tie-up will offer digital lending services delivered over Arya.ag’s platform, to farmers in Maharashtra, Gujarat, Rajasthan and Madhya Pradesh. With this tie-up, Arya.ag & MAS Financial Services are aiming to achieve Rs 100 crore co-lending portfolio with new-age digital technologies driving this enablement. For borrowers, the eventual benefit is in the form of at competitive costs and hassle-free loan processing with technology at the back end taking care of all inter-financier transaction requirements.

The company is also in discussion with various banks for co-lending arrangements as it aims to serve as the biggest fintech platform in the agri-space with a win-win proposition for both recipient farmers and Banks which presently face challenges in reaching out to rural India with limited connectivity.

Arya.ag aims to fasten march as the

Lakadong Turmeric has been identified under The One District, One Product (ODOP) Initiative

West Jaintia Hills in Meghalaya witnessed the first-of-its-kind Fly-Off Event to demonstrate the use of novel and innovative Drone/UAV technology for payload delivery, that could serve as a model of solving the first mile connectivity issues for Lakadong Turmeric farmers from the hinterland.

Lakadong Turmeric has been identified under The One District, One Product (ODOP) Initiative under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, Ministry of Commerce & Industry, as a product with excellent potential for growth and export for West Jaintia Hills.

ODOP partnered with AGNIi Mission, one of the nine technology missions under the Prime Minister’s Science, Technology and Innovation Advisory Council to identify Indian innovative technologies that can play a transformative role in the end-to-end processing of Lakadong Turmeric, starting with leveraging payload drones (UAVs) to transport the turmeric in large quantities.

It may be noted that the Lakadong Turmeric from West Jaintia Hills, Meghalaya, one of the world’s finest turmeric varieties with the highest curcumin content of 7-9 per cent (in comparison to 3% or less in other varieties), is fast becoming a game changer in the economy of the district. Meghalaya has applied for a Geographical Indication tag for Lakadong turmeric.

Lakadong Turmeric has been identified under The

Abhay Dandwate, Chief Risk Officer, National Bulk Handling Corporation (NBHC) gives his opinion on the budget on how it will help India achieve its growth target 

Budget 2022-23 is a comprehensive capital expenditure led growth-orientated allocation, relying on the strategy to pump prime the economy through public investment, which will lead to crowding-in of private investment, eventually setting in motion the virtuous cycle of increase in employment rate and spurt in demand leading to increased consumption.

The outlay for capital expenditure in the budget is stepped up sharply by 35.4 per cent from Rs 5.54 lakh crore in the current year to Rs 7.50 lakh crore in 2022-23, while the effective capital expenditure of the central government is estimated at Rs 10.68 lakh crore in 2022-23, which will be about 4.1 per cent of GDP.

The revised estimated growth of tax revenues of 14 per cent against the budget estimates is a reflection of effective tax collection, notwithstanding to fact that the economy is also grappling with the brunt of covid, which is attributable to an increase in GST, corporate tax, income tax Collection. Tax to GDP ratio is estimated at 10.70 per cent as against 9.8 per cent earlier which is indicative of the endeavour of the government to maintain a tight lid on the expenditure; however still, it is lesser as compared to vibrant nations which are having Tax to GDP ratio in the range of 15-16 per cent.

The fiscal deficit for the full year is now revised to 6.9 per cent as against 6.8 per cent of the budgetary estimate which appears to be more authentic and realisable. However, on the disinvestment front, the government has lagged as the actual disinvestment against the BE of Rs 175000 crore is very meagre and considering the current pace of disinvestment, the revised estimate has been lowered to Rs 78000 crore.

However, the government has accomplished the daunting task of sale of Air India and there is a likelihood that the IPO of LIC will sail through in the current fiscal. The disinvestment target of Rs 65000 crore pegged for FY 22-23, appears to be more modest and realistic. The real challenge for the government will now be to fund this huge capital expenditure which will predominantly come from the proceeds of asset monetisation and raising debt from the bond market.

MSME is the cornerstone of the economy with regards to the generation of employment which was impacted most owing to the covid wave. Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) scheme is proposed to be revamped. All these measures will give much-needed succour to this fragile sector.

Agriculture has shown its resilience despite facing the brunt of the covid wave and has shown consistent growth in the last two years by registering a growth of 3.6 per cent and 3.9 per cent in FY 20-21 and FY21-22 (Est) respectively, thus playing an instrumental role in driving the overall GDP @ 9.2 per cent in FY 21-22.

Agri sector budget allocation is focussed on the tech-driven approach to augment agriculture production. Kisan Drones’ will be promoted for crop assessment, spraying of insecticides, digitisation of land records which would give a better estimate of the crop, reduce wastage of pesticides, and ease of doing farming which would eventually lead to higher productivity for small and marginal farmers.

Announcement of government to start a scheme to lower the dependence on imports of oil and focus to increase domestic production of oilseed is the clear signal that the government is committed to reducing its dependence on edible oil import which has been one of the flashpoints of retail inflation as well one of the major factors of foreign exchange outgo which has already crossed 1 lakh crore mark.

Promotion of chemical free natural farming is another agenda on the radar of the Government with an initial focus on 5 kilometre corridor along the river Ganga.

Delivery of digital and Hi-Tech services to farmers in PPP mode and launching of the fund with blended capital to finance agriculture start-ups with NABARD is renewed emphasis of the IT-driven approach towards agriculture. In a bid to ensure stricter adherence on fuel bending, Government has proposed a levy of Rs 2 per litre on unblended fuel exemplify the government of its priority which will force the oil companies to meet the blending target and also give encouragement to the sugar industry to install distillery, which in turn supplement their income to meet the cost of production of sugar.

To achieve the ambitious target 280 GM of solar installed capacity by 2030 has increased allocation under Production Linked subsidy of Rs 19500 cr to make it to Rs 24000 coupled with a hike in the customs duty on imported solar modules and solar cells which is intended to boost the domestic production of solar panels but in the shorter run, same may have its dampening effect on the per-unit solar energy cost as the cost of imported solar modules and the solar cell is lower than the domestic solar components.

Introduction of Central Bank Digital Currency (CBDC) will give a big boost to digital economy, using block chain and other technologies. Digital currency may also lead to a more efficient and cheaper currency management system. However details of it will be known when RBI unveils the contours of the CBDC.

Overall budget is a forward-looking budget and is the step in the right direction to propel India’s growth.

Abhay Dandwate, Chief Risk Officer, National Bulk

The major destination for export of tractors is U S A (25.2%), Nepal (7.3%), Bangladesh (6.5%), Thailand (5.4%) & Sri Lanka (5.3%)

India’s export of Tractors rose by more than 72 per cent to USD 1025 Million during April-December 2021 compared to USD 594 Million during April-December 2013.  The major destination for export of tractors is U S A (25.2 per cent), Nepal (7.3 per cent), Bangladesh (6.5 per cent), Thailand (5.4 per cent) & Sri Lanka (5.3 per cent).

India has been seeing consistent growth in exports. It may be noted that India’s merchandise exports in January 2022 increased by 23.69 per cent to USD 34.06 billion over USD 27.54 billion in January 2021; recording an increase of 31.75 per cent over USD 25.85 billion in January 2020.

The Government has taken a number of proactive and effective measures since 2014 to boost the India’s export. A new Foreign Trade Policy (FTP) 2015-20 was launched on 1st April 2015. The policy, inter alia, rationalised the earlier export promotion schemes and introduced two new schemes, namely Merchandise Exports from India Scheme (MEIS) for improving export of goods   and ‘Services Exports from India Scheme (SEIS)’ for increasing exports of services. Duty credit scrips issued under these schemes were made fully transferable.

The Government started implementing a Niryat Bandhu Scheme with an objective to reach out to the new and potential exporters including exporters from Micro, Small & Medium Enterprises (MSMEs) and mentor them through orientation programmes, counselling sessions, individual facilitation, etc., on various aspects of foreign trade for enabling them to get into international trade and boost exports from India.

Assistance provided through several schemes to promote exports, namely, Trade Infrastructure for Export Scheme (TIES) and Market Access Initiatives (MAI) Scheme

The major destination for export of tractors