The Union Cabinet, on Wednesday (August 28, 2024), expanded the scope of the Agricultural Infrastructure Fund (AIF). The scheme, worth Rs.1 lakh crore, would be redesigned to include financial support for Farmers’ Producers Organisations (FPOs) to enhance their financial security and creditworthiness. The Centre said the AIF would be more attractive now and strengthen the farm-related infrastructure facilities in the country.

The upcoming Rs.76,220-crore Vadhavan port, for which Prime Minister Narendra Modi will perform a groundbreaking ceremony on Friday, will play a 'crucial role' in the proposed India–Middle East–Europe Corridor (IMEEC) and the International North–South Transportation Corridor (INSTC) projects, said the Union Minister for Ports, Shipping and Waterways, Sarbananda Sonowal.

India is preparing for joint trade council meetings with its top trading partners in Africa — Kenya and Tanzania — scheduled in September this year as the country eyes doubling trade with African nations to $200 billion by 2030.

Pitching for 'more India' for enhanced cooperation in bilateral relations, Chile's Minister of Agriculture, Esteban Valenzuela on Wednesday said they have strong trade ties with some other countries and are working for stronger ties with India in a range of areas including agriculture and technology.

In a major policy shift, the Government has scrapped rice supply at Rs.20/kg to ethanol manufacturers and allowed them to buy at rates discovered in weekly auction. It has capped the quantity of rice from FCI for ethanol at 23 lakh tonnes (lt) by October 31. In a separate order, the government has also allowed sugar mills with distilleries to manufacture ethanol directly from sugarcane as well as B Heavy molasses, lifting the previous ban imposed last year.

The government is considering a proposal to raise import duties on crude and refined edible oils, with the domestic mandi prices of most oil seeds ruling below the minimum support prices for several months now.