Embassy of India organizes online business meeting

Embassy of India in Baku, in collaboration with Agricultural and Processed Food Products Export Development Authority (APEDA) of India, organized an online a buyer-seller meeting to promote Indian Basmati rice with participation of seven leading Indian Basmati rice exporters to Azerbaijan, Report informs citing the Embassy.

Inaugurating the BSM, Ambassador of India to Azerbaijan Mr. B. Vanlalvawna highlighted the growing economic cooperation between the two countries and said that India has maintained the top position in terms of export of rice to Azerbaijan, accounting for more than 66% of Azerbaijan’s total rice imports. APEDA chairman Dr. M. Angamuthu noted that different varieties of Indian basmati rice is one of most cherished commodities imported by Azerbaijan. Mr. Fuad Humbatov, Deputy Secretary General, National Confederation of Entrepreneurs (Employers') Organizations of the Republic of Azerbaijan (ASK) said that India is the largest exporter of rice to Azerbaijan and invited Indian exporters to explore further opportunities in Azerbaijan.

During the online interaction, the seven Indian basmati exporters made presentations on their products and companies. Around 45 participants representing Azerbaijani importers and Indian exporter attended the virtual meeting. An E-catalogue, listing top Indian Rice Exporters and Azerbaijani Rice Importers, was also released during the occasion.

India continues to be Azerbaijan's main source of rice imports, accounting for over 66% of country's total rice imports during January-October 2020. In 2019, India's rice export to Azerbaijan was US$ 28.3 million, which was over 73% of country's total rice imports. In previous years also, India was Azerbaijan's main source of rice import with 73.1% and 66.4% market share in 2018 and 2017 respectively.

The Agricultural & Processed Food Products Export Development Authority (APEDA), a Government of India organization established in 1985, provides financial assistance, information, guidelines towards the development of scheduled products. It also sets standards and specifications for the scheduled products; improves packaging and marketing of the Scheduled products; carries out inspection of products for the purpose of ensuring the quality of such products; gives training in various aspects of the industries connected with the scheduled products; undertakes surveys, feasibility studies; collects statistics from the owners of factories or establishments and publishes such statistics.