JAITLEY TO INAUGURATE UPASI CONFERENCE
Shri Arun Jaitley,
Union Commerce & Industry Minister, will formally inaugurate
the 110th Annual Conference of UPASI (United Planters' Association
of Southern India) at Coonoor, Tamil Nadu, on 27th September.
Shri Ch. Vidyasagar Rao, Minister of State for Commerce &
Industry and Shri L.V. Saptharishi, Additional Secretary in the
Department of Commerce, will also be participating in the functions
being organised during the 2-day Conference (26-27 September)
by UPASI, which is one of the premier associations looking after
the interests of growers of plantation crops in South India..
It is expected that a tea
delegation from Pakistan will also be attending the Conference.
There has been an exchange of tea trade delegations between India
and Pakistan during the recent months and the visit of the tea
delegation from Pakistan for attending the Conference is expected
to provide a boost to the tea trade between the two countries.
A number of important issues are expected to come up for discussions
at the Conference in the context of the crisis situation prevailing
in the plantation sector, especially in coffee and tea, arising
out of a general over-supply and slowing down of the rate of consumption
growth which has led to fall in prices of these commodities. The
increase in cost of production, declining export and fall in export
price realisation has further aggravated the situation. Thus,
there is an urgent need for the plantation industry to collectively
reflect on these aspects and find urgent solutions so as to compete
with the existing and emerging producing countries. The health
of the plantation industry has an immediate socio-economic impact
on the remotely located plantation districts of the country. This
is causing great concern as this sector has all along been playing
a significant role in the economic development of the country.
Government of India has taken a number of measures to support
and revive the plantation sector including restructuring/rescheduling
of the loans availed of by the growers of tea and coffee from
commercial banks, establishment of a Price Stabilisation Fund,
notification of the Tea Marketing (Control) Order 2003 and changes
in auction rules to provide for a more transparent price discovery
mechanism for tea etc. UPASI, being a growers association, has
also been taking a number of measures to assist the growers. One
of the major initiatives being undertaken by them is the setting
up of a Tea Futures Exchange.
