Indian Economy: News and Discussion

ezsasa

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Road & Transport Min (@MORTHIndia) launches Aadhaar-authentication based contactless services. Driving licence renewal, duplicate licence, registration application for vehicles will no longer require an RTO visit. These services will be available online via Aadhaar authentication

 

sorcerer

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First export consignments of ‘red rice’ from Assam to the USA flagged off


Posted On: 04 MAR 2021 6:35PM by PIB Delhi



In a major boost to India’s rice exports potential, the first consignment of ‘red rice’ was flagged off today to the USA.Iron rich ‘red rice’ is grown in Brahmaputra valley of Assam, without the use of any chemical fertilizer. The rice variety is referred as ‘Bao-dhaan’, which is an integral part of the Assamese food.





The red rice is being sourced by leading rice exporter – LT Foods. The flagging off ceremony of the export consignments was carried out by APEDA Chairman Dr M.Angamuthu at Sonepat, Haryana.As the exports of ‘red rice’ grow, it would bring enhance incomes of farming families of the Brahmaputra flood plains.


APEDA has promoting rice exports through collaborations with various stakeholders in the value chains. The government had set up the Rice Export Promotion Forum (REPF), under the aegis of the APEDA. REPF has representations from rice industry, exporters, officials from APEDA, ministry of commerce and directors of agriculture from major rice producing states including West Bengal, Uttar Pradesh, Punjab, Haryana, Telangana, Andhra Pradesh, Assam, Chhattisgarh and Odisha.


During the April – January period of 2020-21, the shipment of non-Basmati rice witnessed an impressive spike. The non-basmati rice exports was Rs 26,058 crore (3506 US$ Million) duringApril-January, 2021 against Rs 11,543 crore (1627US$ Million) reported during April-January, 2020 period. The exports of non-Basmati witnessed a growth of 125 % in Rupeeterm and 115 % Dollar terms.





The sharp spike in rice exports especially during a phase where globally the COVID19 pandemichas disrupted supply changes many commodities, has been attributed to the government takingprompt measures to ensure exports of rice while taking all the COVID19 related safetyprecautions. “We took several measures in terms of ensuring safety and hygiene because of theoperational and health challenges posed by COVID19, while ensuring that rice exports continueuninterrupted,” M Angamuthu, Chairman, APEDA has said.
 

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India attracted total FDI inflow of US$ 67.54 billion during April to December 2020;



Foreign Direct Investment (FDI) is a major driver of economic growth and an important source of non-debt finance for the economic development of India. It has been the endeavor of the Government to put in place an enabling and investor friendly FDI policy. The intent all this while has been to make the FDI policy more investor friendly and remove the policy bottlenecks that have been hindering the investment inflows into the country. The steps taken in this direction during the last six and a half years have borne fruit, as is evident from the ever-increasing volumes of FDI inflows being received into the country. Continuing on the path of FDI liberalization and simplification, Government has carried out FDI reforms across various sectors.


Measures taken by the Government on the fronts of FDI policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows into the country. The following trends in India’s Foreign Direct Investment are an endorsement of its status as a preferred investment destination amongst global investors:


  • India has attracted total FDI inflow of US$ 67.54 billion during April to December 2020. It is the highest ever for the first ninth months of a financial year and 22% higher as compared to the first ninth months of 2019-20 (US$ 55.14 billion).
  • FDI equity inflow grew by 40% in the first 9 months of F.Y. 2020-21 (US$ 51.47 billion) compared to the year ago period (US$ 36.77 billion).
  • FDI inflow increased by 37% in 3rd Quarter of 2020-21 (US$ 26.16 billion) compared to 3rd quarter of 2019-20 (US$ 19.09 billion).
  • FDI inflow showed positive growth of 24% in the month of December, 2020 (US$ 9.22 billion) compared to December, 2019 (US$ 7.46 billion)
 

ezsasa

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Govt needs to then cut the public some slack and at the same time force state govts to reduce the price a bit too.
Here issue is not central govt, state govts don't want petrol diesel in GST regime.
 

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