Bharat International Rice Conference expected to generate over Rs 50,000 crore in trade contracts: IREF President Prem Garg

Speaking to ANI on the sidelines of the event, Garg expressed optimism over the business opportunities emerging from the conference, highlighting its potential to strengthen India's rice exports and expand the country's presence in international markets.

"I expect that India's rice trade, which is worth about USD 13 billion, will definitely increase. This conference alone is expected to generate trade contracts worth more than Rs 50,000 crore," he said.

Garg urged the government to facilitate international trade conferences such as BIRC, highlighting visa-related delays that have prevented around 150200 overseas buyers from attending the event.

He said that these platforms help small and medium-sized rice exporters connect with international buyers, explore business opportunities and expand their reach across global markets.

He also raised concerns over disruptions in container shipping services, which have created logistical challenges for Indian rice exporters.

He referred to shipping company Exim Wala, which was participating in the conference, saying it operates more than 80 vessels worldwide.

There is a big issue because container services have been affected. However, if you look at the conference, there is a company called Eximwala, which currently operates more than 80 vessels around the world. They are providing shipping services to the Indian community for destinations such as Iraq, Doha and other parts of the Middle East, where container freight charges are around USD 5,0006,000.

Meanwhile, Garg projected that India's rice exports could reach 24 million tonnes this year, compared with 20.5 million tonnes in the previous year, indicating an expected increase of around 17 per cent.

Of the projected export volume, Basmati rice is expected to account for approximately 6.5 million tonnes, while the remaining 17.5 million tonnes would comprise non-Basmati rice.

...last year, we exported 20.5 million tonnes of rice, and this year, we expect exports to reach 24 million tonnes. Of this, Basmati rice is expected to account for around 6.5 million tonnes, while the remaining volume will comprise non-Basmati rice, he said. (ANI)