39 mega food parks and 298 integrated cold chain projects sanctioned under Pradhan Mantri Kisan Sampada Yojana

Source: ETRetail.com, Feb 04, 2019

New Delhi: The Ministry of Food Processing Industries (MoFPI) has sanctioned 39 mega food parks and 298 integrated cold chain projects throughout the country to fill in the gaps across the value chain and establishing the cold chain grid, said Rameswar Teli, minister of state for Food Processing Industries, in a reply in the Lok Sabha today.

The MoFPI is focusing on building cold chain infrastructure across the country, for seamless transfer of perishables from production to consumption areas, through the Pradhan Mantri Kisan Sampada Yojana (PMKSY), he said.

The component of the schemes includes integrated cold chain and value addition infrastructure, mega food parks, creation of backward and forward linkages, creation and expansion of food processing and preservation capacities ,agro processing clusters and operation greens.

These schemes aim at arresting post-harvest losses of horticulture and non-horticulture produce by encouraging the creation of cold storages/ primary processing/ and transportation facilities across the country.

Easier FDI norms coming for ‘most favoured nations’

Source: The Hindu Business Line, Jan 26, 2019

New Delhi: The government is mulling a new investment law that will categorise nations into ‘most favoured’ and ‘not pro-India’ besides emphasising contract enforcement and fast-track dispute resolution.

A new Bill is likely to be introduced in the Budget session of Parliament that is scheduled to begin on January 31.

Officials told BusinessLine that the “draft of the Bill, which is being vetted by the Law Ministry, will be placed before the Cabinet for approval for introduction in Parliament.” The Bill might even get a mention in the Budget speech. Efforts will be made to get it passed during the Budget session itself. Read the rest of this entry »

These 3 Indian cities top the list of world’s fastest-growing cities

Source: LiveMint.com, Jan 10, 2019

New Delhi: Three Indian cities have been listed as the world’s fastest-growing urban areas, a survey by the Economist Intelligence Unit (EIU) revealed.

Malappuram, Kozhikode and Kollam were the only three cities to make it to the top 10 of the world’s fastest-growing cities.

Malappuram was ranked No. 1 in the world rankings with a 44.1 per cent change between 2015 and 2020. While Kozhikode was ranked fourth with 34.5 per cent change and Kollam was at number 10 with 31.1 per cent, the EIU survey revealed.

The other cities in the top 10 list were three cities from China, one each from Nigeria, Oman, UAE and Vietnam.

Other Indian cities that made the list were Thrissur in Kerala at 13th position, Gujarat’s Surat at 26, while and Tamil Nadu’s Tiruppur is at 30.Taking to twitter, Industrialist Anand Mahindra,”Good to see that the fastest growing in India are not the monster metropolises, Mumbai, Delhi, Kolkata etc. When smaller towns & cities grow it signals that a wider distribution of wealth & job opportunities is underway. We need more smaller towns to Rise!”

Beauty & Wellness business in India has potential to reach Rs 80,000 crore

Source: IBEF.org, Jul 10, 2019

Beauty and wellness business in India have a market potential of Rs 80,000 crore (US$ 11.12 billion) and can provide employment opportunities to lakhs of individuals.

“Skilling course is a significant tool of women empowerment as the students after preparing can set up wellness and beauty focuses by availing easy loans like Mudra and can also persuade others for such productive business opportunities” said by skills development minister Mahendra Nath Pandey.

Over 62 per cent of India’s population is youthful and as per prime minister’s vision to make India as one of the biggest skilled economy in the world. Read the rest of this entry »

India seeks to buy $2 bn worth warships to meet security challenges

Source: The Hindu Business Line, Jul 02, 2019

New Delhi: India sought bids for purchase of warships and support vessels for its navy and coast guard as it ramps up security of its maritime border in the Indian Ocean region.

The government on Monday asked seven shipyards to submit proposals for the construction of six missile warships and other smaller vessels worth ₹15,000 crore ($2.2 billion), the Defence Ministry said in a statement. The tender includes eight fast patrol vessels, 12 hovercrafts and eight missile-cum-ammunition barges.

The shipbuilders invited include private shipyards Larsen & Toubro Ltd. and Reliance Naval & Engineering Ltd., apart from the state-run Mazagon Dock Shipbuilders Ltd., Garden Reach Shipbuilders and Engineers Ltd., Goa Shipyard Ltd., Hindustan Shipyard Ltd. and Cochin Shipyard Ltd., people with knowledge of the matter said. They asked not to be identified citing rules. Read the rest of this entry »

Online food ordering market to touch $17.02 bn by 2023: Study

Source: The Hindu Business Line, Mar 26, 2019

Guwahati: The online food ordering market in India is likely to grow at over 16 per cent annually to touch $ 17.02 billion by 2023, according to a study by business consultancy firm Market Research Future.

The study, titled ‘Digital Platforms Reign in the Food Ordering Market’, said the growth in online food ordering market has been attributed to the rising number of women in working population in most of the metro cities.

“The Indian online food ordering market is slated to grow at a CAGR (compound annual growth rate) of 16.2 per cent at $ 17.02 billion by 2023,” it said.

According to the study, 95 per cent of the respondents surveyed order food online, owing to promotional offers and discounts, while 84 per cent individuals said its hassle-free and time-saving. Read the rest of this entry »

India to get first jewellery park set on 21 acres at Navi Mumbai

Source: Business Standard, Mar 05, 2019

Mumbai: A year after signing a memorandum of understanding (MoU) with the Maharashtra government, the gems and jewellery sector is set to get India’s first jewellery park on Tuesday in Navi Mumbai.

Union Minister of Commerce and Industry Suresh Prabhu is scheduled to lay the foundation stone of the park, which would be developed on co-operative housing model basis, accommodating about 4,800 large and small units encompassing the entire jewellery value chain.

The Maharashtra government has allotted 21 acres to the park and has also assured it will provide all possible assistance for its development and smooth functioning. The jewellery industry is expecting a fund allocation from Maharashtra for workers’ welfare and for small business units in the jewellery sector. Read the rest of this entry »