06 Jun, 2024 News Image India plans new shipping firm to capture revenue from growing trade.
India plans to set up a new shipping company to expand its fleet by at least 1,000 ships in the next decade, as Asia's third-largest economy seeks a bigger chunk of revenue from surging trade, two government officials said.
The South Asian nation is spending billions of dollars to refurbish infrastructure in its race to become a world-class manufacturer with Prime Minister Narendra Modi, who won a third term this week, aiming for it to be a developed nation by 2047.

 Source:  infra.economictimes.indiatimes.com
06 Jun, 2024 News Image Open market sale of wheat unlikely to start this month.

An unexpected fall in wheat procurement from a 'realistic target' has derailed the Government’s plan to start selling the grain in the open market anytime soon, even as the current policy is about to end on July 31. Besides, the Government is closely monitoring prices and there is no concern on that front, so far, official sources said.


 Source:  thehindubusinessline.com
06 Jun, 2024 News Image Cooperation Minister reviews progress of pilot grain storage projects launched in 11 states.
The National Level Coordination Committee (NLCC) for India's ambitious grain storage project, chaired by Cooperation Secretary Ashish Kumar Bhutani, held its inaugural meeting here on Monday and reviewed the progress of the pilot project launched last year in 11 states. The intiative, spearheaded by the Ministry of Cooperation, aims to create a decentralised network of warehouses and other agricultural infrastructure at the Primary Agricultural Credit Society (PACS) level across the country.
 

 Source:  economictimes.indiatimes.com
06 Jun, 2024 News Image India, US, 12 others likely to ink pact today to meet climate financing goal.
India, the US and 12 other countries on Thursday are likely to ink an agreement to help them meet their climate objectives through collaborative financing without imposing barriers.
The proposed Clean Economy Agreement under the Indo-Pacific Economic Framework (IPEF) aims to help the member countries meet their climate objectives by improving market conditions, officials said.

 Source:  economictimes.indiatimes.com
06 Jun, 2024 News Image No more claims of 100% fruit juice on labels & ads, FSSAI issues directions.

We all love to consume packaged fruit juices, and there are several companies that sell these fruit juices with a claim they contain 100 per cent pure fruit juices, while the sugar percentage is on the higher side. However, this claim has come under the scanner of the food safety regulatory body Food Safety and Standards Association of India (FSSAI) and they have directed the companies not to claim 100 per cent Fruit Juice on canned products.


 Source:  timesofindia.indiatimes.com
06 Jun, 2024 News Image Food Processing industry should focus on quality and expanding export markets: Anita Praveen, secretary, MoFPI.

Anita Praveen, secretary, Ministry of Food Processing Industries, Govt. of India today said that the Indian Food Processing Industry is the second biggest employer in the country after textile and can be the basis for increasing farmers’ income.


 Source:  foodtechbiz.com
06 Jun, 2024 News Image Gherkin exports up at record $256 million in FY24 on robust European demand.
India’s exports of gherkins (pickled cucumbers) for financial year 2023-24 rose 17 per cent to touch a record $256.58 million on strong demand from European buyers such as Germany and Spain. In 2022-23, India’s gherkin exports stood at $218.74 million.
 

 Source:  thehindubusinessline.com
06 Jun, 2024 News Image India extends sugar export curbs beyond October.

The government on Wednesday extended curbs on sugar exports beyond the end of October as it tries to keep local prices in check, meet ethanol production requirements and ensure adequate closing stock at the end of the sugar season.


 Source:  livemint.com
06 Jun, 2024 News Image CBIC starts electronic disbursal of duty drawback to exporter's bank accounts via PFMS.

The Central Board of Indirect Taxes and Customs (CBIC) on Wednesday said it will now electronically disburse duty drawback amounts directly to exporters' bank accounts using the PFMS platform, a move which will increase transparency and will improve efficiency of the process.


 Source:  economictimes.indiatimes.com
05 Jun, 2024 News Image India Embarks on World s Largest Grain Storage Plan with 1st Meeting of NLCC.

The National Level Coordination Committee (NLCC) for the world's largest grain storage plan convened its first meeting on Monday at the Ministry of Cooperation. This landmark gathering marks a significant step forward in India’s efforts to revolutionize its agricultural storage infrastructure.


 Source:  krishijagran.com