Peace or not, India & Pak first need to unite to save Basmati

[Mabs]

Peace or not, India & Pak first need to unite to save Basmati - The Times of India

NEW DELHI: It will be a 'do or die' situation for India's Basmati, which occupies pride of place in the country's agricultural trade, when the Chennai-based Intellectual Property Appellate Board (IPAB) next week takes a call on granting 'GI' (geographical indicator) tag to the world famous long grain aromatic variety of rice. Chances of it getting the tag depends on whether India joins hands with Pakistan to get a joint registration by prevailing upon Madhya Pradesh to withdraw its claim of being included in the geographical area for Basmati.

READ ALSO

Geographical Indication tag sparks a bittersweet debate on rasgulla

If Basmati fails to get the tag, India and Pakistan will lose its exclusivity in the world market. Obviously, India will be the bigger loser because it has more than 95% of the share in the exclusive geographical zone for this unique variety Besides, the share of Basmati is also quite high in India's overall rice export. Roughly, Basmati contributes Rs 33,000 crore out of total Rs 40,000 crore worth of the country's annual rice export.

READ ALSO

Research lab to help fight patent war

If India does not get the tag, there is a possibility that China may get this variety from Pakistan and go for large-scale cultivation in newly acquired big farms in different African countries under different agreements.

"Kenya, Tanzania and Ethiopia are among certain east African countries where conditions are conducive for Basmati cultivation. China has acquired big farms in these and other east African countries," said an Indian scientist on condition of anonymity.

Though MP had not traditionally been part of the areas that cultivate Basmati, it staked its claim for getting specific areas in 13 of its districts included in geographical areas when farmers there opted for this high-paying variety in the past few years. Pakistan, which has traditionally been cultivating Basmati in its Punjab province, opposed MP's move, forcing the matter to reach before the IPAB.

Besides MP, Rajasthan and Bihar had also staked their claim for being included in the geographical areas for Basmati. But Indian agriculture scientists claimed these two states preferred not to be parties to the dispute in larger national interest.

Sensing the urgency ahead of the crucial hearing, India's premier agriculture research institute — the Indian Agricultural Research Institute — has requested the government to join hands with Pakistan in India's interest. The issue was flagged by IARI joint director K V Prabhu during a conference in New Delhi on October 16, where he had said, "We do not want others like China to introduce Basmati in global trade at low prices and spoil our market, which is potentially imminent."

In the words of the geniuses on this forum and in India - everything gets affected if things aren't cordial between Pakistan and India. That includes cricket as well as Basmati.

 

[Kashmiri Pandit]

In the words of the geniuses on this forum and in India - everything gets affected if things aren't cordial between Pakistan and India. That includes cricket as well as Basmati.

 

[Hindustani78]

CBI books basmati firm on fraud charge - The Hindu
Updated: October 28, 2015 03:33 IST

The Central Bureau of Investigation has registered a case against REI Agro Ltd., said to be the largest basmati rice processing and marketing company in the world, and its directors for allegedly causing a loss of Rs. 3,814.39 crore to a consortium of 15 nationalised banks led by UCO Bank.

“The case of alleged conspiracy, cheating and forgery has been registered against the company and its directors, Sanjay and Sandeep Jhunjhunwala, N.K. Gupta and K.D. Ghosh. It is alleged that the firm operated through a web of shell companies for conducting fraudulent transactions in rice trade. Suspected diversion of funds raised through bank loans is being probed,” said a CBI official.

On Tuesday, CBI teams conducted searches on the premises of the company and its directors in Kolkata and Delhi, and also at its three rice processing units at Rewari in Haryana.

The action has been taken on the basis of a complaint lodged by UCO Bank alleging that 2013 onwards, the company had taken loans to the tune of Rs. 3,814.39 crore from the consortium of nationalised banks through fraudulent means.

Set up in 1994, the company was a co-sponsor of Delhi Daredevils cricket team in the Indian Premier League-2013 tournament.

Once listed in the London and the Singapore stock exchanges, the firm ran about 400 super stores under the brand 6TEN in India, said the official, adding: “It allegedly defrauded banks in India and abroad. The company was also sued by Singapore-based leading global financial services company Credit Suisse for recovery of $80 million,” said the official.

The case is understood to be part of the CBI’s action against private firms which allegedly duped nationalised banks.

The agency had recently registered a corruption and criminal conspiracy case against liquor baron Vijay Mallya and the chief financial officer of Kingfisher Airlines for alleged default of Rs. 900-crore loan in connivance with unknown officials of IDBI Bank.

Another such case was filed against Surat-based fleet operator firm Siddhi Vinayak Logistics Ltd. and Bank of Maharashtra for alleged default of Rs. 800 crore.