Dairy sector likely to attract Rs 60,000 crore over 5 years

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The country’s dairy sector hopes to see up to Rs 60,000 crore of new investment and creation of 10 million jobs in five years, in the wake of the Union Budget proposals, reports Business Standard. The finance minister had announced a target of doubling the annual milk processing capacity to 106 million tonnes, from the existing 53 million tonnes. […]

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Indian mining sector breathes sigh of relief after government amends mining law

Steel companies and mining companies in India have heaved a sigh of relief after the government amended the prevailing mining law to permit the “seamless transfer” of regulatory approvals to new owners of operational iron ore mines, the Economic Times reported. Earlier last week, the government amended the Mines & Minerals (Development & Regulation) Act […]

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Basmati exporters concerned over their Iranian dues after death of Qassem Soleimani

The death of Iran’s most powerful military commander could send jitters to India’s multi-billion dollar basmati rice export industry, reports Financial Express. With dues soaring over Rs 800-900 crore, industry insiders have said that the news of the assassination of Qassem Soleimani could make matters worse for an industry which sent one-third of its total shipments […]

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Nashik traders, growers seek removal of onions’ stockholding limit

Onion growers and traders in Nashik district — the onion belt in Maharashtra — will soon approach the Centre with a plea to remove the stockholding limits in the wake of increasing arrivals in the markets. NAFED director Nanasaheb Patil told Financial Express a meeting is slated to be held with Nashik’s district collector along […]

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India exported 3.7 million tonnes of sugar in 2018-19 mainly to clear surplus stock

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India exported about 37 lakh tonne of sugar in the 2018-19 marketing year ended September to clear the surplus stock, the government told the Rajya Sabha last week. Union minister Danve Raosaheb Dadarao said sugar mills were advised to export sugar as per their MIEQ (Minimum Indicative Export Quota) allocation. “With a view to evacuate surplus sugar […]

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Govt extends stock holding limit on onion traders indefinitely to check price rise

With onion prices continuing to rise above Rs 100 per kg, the government of India has extended prohibitions on traders from the stocking of edible bulb across the country for an indefinite period to check price rise. Separately, Food and Consumer Affairs Minister Ram Vilas Paswan did not say by when prices of onion will […]

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