New Delhi: Union Commerce and Industry Minister Piyush Goyal on Wednesday said the exports of certain products such as pharmaceuticals, telecom instruments, tea, coffee, and marine goods from India are likely to be affected as per the industry’s feedback due to the ongoing conflict between Russia and Ukraine.
“As per the feedback received from the industry, exports of some products from India are likely to be affected including pharmaceuticals, telecom instruments, tea, coffee, marine products, etc,” he said in a written reply in the Lok Sabha, PTI reported.
Goyal said the commerce department is apprised of the present situation and is holding regular consultation with all stakeholders to ensure the availability of essential imports.
Replying to questions about the likely impact of the Russia-Ukraine war on India’s trade with the two countries and whether the Centre is apprised of the present business scenario in the light of the war, Goyal said a more precise implication of the post-war scenario can be assessed only after the situation stabilises.
The major items of export from India to Russia are pharmaceuticals, telecom instruments, iron and steel, tea and chemicals, while the imports include petroleum, pearl and semi-precious stones, coal, fertilisers and vegetable oils.
The country’s exports to Ukraine on the other hand include pharmaceuticals, telecom instruments, groundnut, ceramic, iron and steel, while imports include vegetable oils, fertilisers, inorganic chemicals, plastic and plywood and allied products.
Stating that as both Ukraine and Russia are major exporters of wheat with more than 25 percent share in global trade, the minister further said that disruption of exports from these countries provides India an opportunity to increase its outbound shipments of the crop.
Meanwhile, Goyal in a separate reply said various meetings with stakeholders were held as part of the consultative process to formulate a new Foreign Trade Policy, adding all the suggestions have been taken on record for further examination.
“A separate Foreign Trade Policy cell was created to coordinate with various officials in formulation of the Foreign Trade Policy,” he said.
The minister informed that export of agri products (including dairy and dairy products) has increased from USD 32.662 billion in April-Jan 2021 to USD 40.873 billion in April-Jan 2022, which is a growth of 25.14 percent.
Goyal, while replying to a question on the rubber sector, said the government is considering modifying the existing Rubber Act, 1947, to remove certain archaic provisions, create a conducive environment for ease of doing business and make a world class rubber industry.
“In this regard, a draft Bill - Rubber (Promotion and Development) Bill 2022 - has been put up...for wider consultation and for seeking comments/ suggestions from public/ stakeholders till April 9, 2022,” said Goyal.
“As on March 10, 477 stakeholders and the public have submitted their suggestions on draft Bill including some suggestions to not introduce new Rubber (Promotion and Development) Bill, 2022,” he added.
Goyal further said all “suggestions received from stakeholders, including the Government of Kerala, and the public” will be taken into account before finalizing the Bills.
The Kerala government has suggested modifications in some provisions of the draft rubber bill and the draft Spices (Promotion and Development) Bill 2022.
The suggestions in the draft spices bill include limiting production schemes only to cardamom, apprehensions on the validity of the registration of owners of cardamom estates being done by the state government, provision for the Centre to consult Spices Board with regard to import and export of spices, addition of a section to prohibit/control import of spices and to revoke the Cardamom (Licensing & Marketing) Rules, 1987.