Friday, Nov 16 2018 | Time 02:10 Hrs(IST)
image
  • 6 9-magnitude quake hits off Bristol Island, South Sandwich Islands -- USGS
  • ICC Women World T20: India crushes Ireland, storms into semi-finals
  • Cong releases 1st list for Rajasthan polls, Ashok Gehlot to contest from Sardarpura, Sachin Pilot from Tonk
Business Economy Share

Indian Food and Agro Buyer Seller Meet in Jeddah

Indian Food and Agro Buyer Seller Meet in Jeddah

New Delhi, Nov 9 (UNI) Indian exporters of four key commodities of rice, tea, spices and dry fruits will be meeting the major importers in Saudi Arabia during a Food and Agro Buyer-Seller Meet (BSM) organised by Consulate General of India in Jeddah in association with Jeddah Chamber and Trade Promotion Council of India (TPCI).

Twenty-five Indian companies from food and agricultural products sector, exporting rice, tea, spices and dry fruits, will be meeting the Saudi importers at the BSM which will be inaugurated by Md Noor Rahman Sheikh, Consul General of India in Jeddah and Hassan Ibraheem Dahlan, Secretary General of Jeddah Chamber on November 11.

The four commodities being focused on have great prospects for furthering Indian exports to Saudi Arabia.

The Kingdom of Saudi Arabia has been a major food and beverages (F&B) market for India. The BSM will be an ideal platform for Indian participants to explore the business opportunities for trade, acquaint with new consumer trends and initiate marketing tie-ups and joint ventures.

Basmati rice export continuously dominates India’s rice export basket. India accounts for around 72 per cent of the total Basmati rice produced and it offers India not just the leading producer tag but also very high product visibility in the world market.



Indian tea, is among the finest in the world owing to strong geographical indicators, heavy investments in tea processing units, continuous innovation, augmented product mix and strategic market expansion.

India is the second largest producer and fourth largest exporter of tea in the world with a 23 per cent share in global production and a 7.5 per cent share in world tea exports. India exports tea to more than 60 countries globally with Iran, Russia, the UK, the US and the Gulf countries being major markets.



Indian spices too are much in demand in the GCC countries, given their exquisite aroma, texture and taste. Saudi Arabia primarily imports pepper, chilli, turmeric, ginger and cardamom from India.

Saudi Arabia is India’s one of the most important trade partnersand is a major FDI partner of India after the UAE in Gulf region. India’s export to Saudi Arabia was worth USD 5 billion in 2017.

The major products exported by India to Saudi Arabia were rice, chemicals, refined petroleum oil and motor vehicles and its parts and imported by India from the Arab country were petroleum products.

India’s import from Saudi Arabia was worth USD 21 billion in 2017, amounting to a huge trade deficit of USD16 billion.

India is seeking to reduce the trade deficit by enhancing exports in areas where Saudi Arabia is importing from the world.

India exported F&B products worth USD 4.6 billion in 2017.

During 2017, India’s total exports in F&B products stood at USD 33 billion while the exports to Saudi Arabia in this sector during the same period stood at only USD 1.43 billion, according to an official statement here on Friday.



UNI RSA 1652

More News

Energy conservation must to save earth from destruction: Jai Ram Thakur

15 Nov 2018 | 8:47 PM

Shimla, Nov 15 (UNI) Expressing concern over fast-depleting natural resources, Chief Minister Jai Ram Thakur on Thursday said that energy conservation plays a pivotal role as ithout it the world would deplete its natural resources and the humanity would have to depend on alternative energy resources, which comes at the cost of creating an enormous destructive waste products causing adverse impact on mother earth.

 Sharesee more..
Sensex recovers by 118 55 pts on firm Asian cues amidst softening crude oil prices

Sensex recovers by 118 55 pts on firm Asian cues amidst softening crude oil prices

15 Nov 2018 | 8:46 PM

Mumbai, Nov 15 (UNI) The benchmark index of Bombay Stock Exchange (BSE) rebounded on Thursday by 118.

 Sharesee more..

15 Nov 2018 | 8:42 PM

Major gainers were Adani Ports & SEZ, Kotak Mahindra Bank, Hero MotoCorp, Axis Bank and Vedanta, rising by up to 4.

 Sharesee more..

Telecom: 20 lakh BTSs and 5 lakh mobile towers installed

15 Nov 2018 | 7:33 PM

New Delhi, Nov 15 (UNI) The telecom industry has installed five lakh mobile towers, taking the total BTS (base transceiver station) count to over 20 lakh, a statement here said.

 Sharesee more..

Infosys appoints Jayesh Sangharika as interim CFO

15 Nov 2018 | 7:27 PM

Bengaluru, Nov 15 (UNI) IT major Infosys Board of Directors have approved appointment of Mr Jayesh Sanghrajka as the interim Chief Financial Officer (CFO) with effect from November 17, 2018.

 Sharesee more..
image