singapore
High Commission of India
Singapore

BUYER-SELLER-MEET IN SINGAPORE  (BY APEDA)

BUYER-SELLER-MEET IN SINGAPORE  (BY APEDA)

BUYER-SELLER-MEET IN SINGAPORE  (BY APEDA)

INDIA AGRI-FOOD PRODUCTS EXPO 2022

(19–21 May 2022)

REMARKS BY HIGH COMMISSIONER

Dr. Sudhansu, Secretary APEDA,

Shri BK Baruah, Assistant General Manager, APEDA,

The rest of the APEDA Team,

Ms. Audrey Tan, Global Markets Director (South Asia), Enterprise Singapore,

Exporters and Importers from India and Singapore,

Ladies & Gentlemen

Good morning & Namaskar!

It is heartening to note that after a long hiatus of almost two years we are able to meet in person for a buyer-seller meet to promote Indian fresh fruits, vegetables and other horticulture products in Singapore.  I would like to extend a very warm welcome to the Indian exporters delegation led by the Agricultural and Processed Food Products Export Development Authority (APEDA) and our partners for this event - Singapore Advanced Produce Centre Development Pte Ltd (APC) and Enterprise Singapore.

As you all know, Agricultural and Processed Food Products Export Development Authority (APEDA), a statutory body under India’s Ministry of Commerce, is an apex trade-promotion body which is mandated to develop and promote the export of fruits, vegetables and other horticultural products. APEDA has been undertaking a series of initiatives for the promotion of Indian agricultural produce globally.  Today’s Buyer-Seller Meet is a part of this series. I am happy that we have several interesting sustainable agricultural products on display today.  

The COVID-19 pandemic has again underlined the need for food security, as we witnessed how the food supply chains can be disrupted by both natural causes like the pandemic and compounded by export-restrictions imposed by countries due to the pandemic or due to war in another part of the world.  India has been fortunate in that its diverse climate ensures availability of all varieties of fresh fruits and vegetables for most part of the year.  India therefore ranks second in the production of fruits and vegetables in the world.  As per the National Horticulture Database, India produced 99.07 million metric tonnes of fruits and 191.77 million metric tonnes of vegetables in 2019-20. 

India is the largest producer of ginger and okra amongst vegetables and ranks second in the production of potatoes, onions, cauliflower, brinjal, cabbage, etc. Amongst fruits, India ranks first in production of bananas, papayas and mangoes.

Such a vast production base offers India significant opportunities for export. During 2020-21, India exported fruits and vegetables worth USD 1.34 billion, out of which fruits were worth USD 674 million and vegetables worth USD 668 million.

Grapes, Pomegranates, Mangoes, Bananas and Oranges account for most of India’s exports of fruits, while Onions, mixed Vegetables, Potatoes, Tomatoes, and Green Chilly mostly contribute to the vegetable export basket.

Policy Support

The Government of India has taken a number of policy measures to support the export of agricultural and processed food products.  In April 2021, the Government approved a PLI scheme for the food processing sector with an incentive outlay of USD 1.48 billion over a period of six years starting from FY-2022. The Krishi Udan scheme 2.0 proposes assistance and incentive for movement of agri-produce by air transport.

To boost growth of the agricultural economy, the Indian government released funds for establishment of custom hiring centres, farm machinery bank and high-tech hubs in different states.

The Indian food processing industry attracted a cumulative Foreign Direct Investment (FDI) equity inflow of about USD 15.02 billion between April 2000 and November 2021. 

India Singapore Relations

Friends, 

India and Singapore share a comitment to fostering economic growth with social inclusion, for the welfare of our people. Our strong economic partnership encompasses bilateral trade and investment in various sectors. 

Singapore is not just a leading economic partner of India, It is also the region’s hub for trade, investment, aviation and finance. Singapore is the leading source of Foreign Direct Investment into India. 

Driven by the momentum provided by the India-Singapore CECA, Singapore is today India’s 6th largest trade partner (2020-21), with a share of 3.2% of India’s overall trade.  It is India’s largest trading partner in ASEAN as well as the top export destination of India in ASEAN.

India and Singapore are part of the dynamic Asia Pacific Region. Amid the problems that the world faces today and the global challenges that we see ahead, our partnership is of great significance for us and our region.

It is especially pertinent that, amidst the COVID-19, we were able to help each other as trusted partners.  I am confident that this event will be the launchpad of many initiatives between India and Singapore in the area of agricultural trade, among other areas.

I thank Ms Audrey Tan and the ESG Team for their assistance in organising this Buyer-Seller Meet. 

I encourage the trade representatives present today to build on this good momentum and explore partnerships with each other, for mutual benefit.

Thank you.

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