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GDP growth likely to be tad higher at 7.5 pc in FY20, says Ind-Ra

Jan 18, 2019

The country's economy is likely to grow a tad higher at 7.5 per cent in 2019-20 on account of steady improvement in major sectors - industry and services, said India Ratings and Research (Ind-Ra) Thursday.
 
According to the advance estimates of the Central Statistics Office (CSO), the economy may clock a growth rate of 7.2 per cent in the current financial year, up from 6.7 per cent in the previous year.
    
Source: Business Standard



eNAM trade till Dec 31 over Rs58,930 crore

Jan 18, 2019

Indian farmers have traded 2.25 crore tonnes of agricultural commodities worth ?58,930 crore on the e-NAM (national Agriculture market) portal till December 31, said Agriculture Minister Radha Mohan Singh on Thursday.
 
The online trade has benefited as many as 63.75 lakh farmers, the minister said while addressing a function to mark the silver jubilee celebration of the Small Farmers’ Agri-Business Consortium, the lead implementing agency of eNAM.
    
Source: The Hindu Businessline



US business body looking to expand trade with India

Jan 18, 2019

With more and more American states looking to expand trade and investment with their Indian counterparts, pharmaceuticals, textiles, energy and manufacturing are some of the prominent sectors in Gujarat  that offer investment potential for US-based companies, said Nisha Biswal, Nisha Biswal, president, US-India Business Council (USIBC), US Chamber of Commerce.
 
Gujarat traditionally has a strong business environment. There is a lot of interest in manufacturing, textiles, pharmaceuticals, automotive and energy sectors of the state, said Biswal, who is in Ahmedabad as part of a 30-member strong US delegation attending the Vibrant Gujarat Summit. The delegation is led by Kentucky state governor Matt Bevin.
    
Source: Timesofindia.indiatimes.com



Major farm measures likely in coming weeks: Agriculture Minister

Jan 18, 2019

Agriculture Minister Radha Mohan Singh Thursday indicated announcement of major measures in the coming weeks to address farm distress across the country, a move that will come ahead of Lok Sabha elections. 
 
The agriculture ministry has prepared a cabinet note on addressing income deficit syndrome of small and marginal farmers proposing various steps, including a financial package and interest waiver for timely crop loan repayers, according to sources.
    
Source: Economictimes.indiatimes



33,500 MoUs to be signed at Vibrant Gujarat Summit

Jan 18, 2019

The ninth edition of the Vibrant Gujarat Summit (VGS) is all set to witness a record-breaking number of Memorandums of Understanding (MoU) or investment intentions to be inked during the three-day event. Sources in the government informed that there are almost 33,500 proposals for the signing of MoUs anticipated this time during VGS. The investment expected through these MoUs could be around Rs 27 lakh crore.
 
Prime Minister Narendra Modi will inaugurate the event on Friday morning at Mahatma Mandir in the presence of over 10,000 people including political and business leaders. The Gujarat government, however, has kept information related to the MoUs as very secret.
    
Source: Dna India



Millets from Karnataka all set for international exposure again

Jan 18, 2019

The millets from Karnataka are set for international exposure again as this year’s edition of three-day Organics and Millets International Trade Fair is set to be held from Friday here.
 
The event, being organised by the Department of Agriculture, will be held on the Palace Grounds premises. The main intention of the event is to create new markets for millets in a bid to ensure remunerative price and also to provide consumers access to healthy food.
 
The fair will see participation from countries such as Chile, Poland, Sri Lanka, United Arab Emirates, Germany, Singapore, and Switzerland.
    
Source: The Hindu



Air Cargo Policy is going to be an important driver of future growth: Civil Aviation Minister

Jan 18, 2019

The Governor of Maharashtra CH. Vidyasagar Rao has said that the aviation sector is going to be the growth engine for future progress and development. He was speaking at the valedictory session of the first Global Aviation Summit 2019 in Mumbai. The global aviation industry is ushering in an era of rapid expansion. The International Civil Aviation Organization has predicted a 100 percent increase in global air travel by the year 2030, he added.
 
The Ministry of Civil Aviation anticipates that in the next two decades, air passenger traffic in India will grow to 1.12 billion passengers per year from the current 187 million passengers. Needless to say, this will open up tremendous opportunities for investment in infrastructure development and upgradation in the years to come. The industry will also require a large pool of skilled manpower, the Governor said.
    
Source: Business Standard



Agriculture needs structural changes: Naidu

Jan 18, 2019

Vice-President M Venkaiah Naidu has called for structural changes in agriculture to make it remunerative for farmers. We should make efforts to make agriculture attractive for the youth. They will be encouraged to take up farming if we can make it a profitable business, he said.
 
Addressing the inaugural of the two-day Agrivision-2019 here on Thursday, he said the focus should be on the entire value chain of agriculture — marketing, storage and transportation.
 
The conference is being organised by the Confederation of Indian Industry and Professor Jayashankar Telangana State Agricultural University (PJTSAU) and Cornell University.
    
Source: The Hindu Businessline



Experts bat for long-term solution to farmers' woes at BS Round Table

Jan 18, 2019

The government is working on ways to enable farmers to sell at remunerative prices and go for less costlier agriculture.
 
At the Business Standard Agriculture Round Table here, P K Swain, joint secretary, marketing and agriculture market intelligence, agriculture ministry, said they had states to integrate the eNAM, the in-the-works online trading platform with rural 'haats' (traditional marketplaces).
    
Source: Business Standard



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