Amazon's FDI in food retail to face opposition from middlemen
Sneha Gilada The Ministry of Food Processing Industry has announced that Amazon plans to invest about $500 million in India's food e-retail market. Other e-commerce firms in the industry like Grofers and Big Basket have also come forward with proposals for investments. The government has received investment proposals from a group of companies totalling $695 million in value. In 2016, the government had pushed through a bill that opened up 100% FDI in the retail of food products manufactured or sourced from India. A similar proposition for non-food products is still in the working. Minister of Food Processing Harsimrat Kaur Badal broke the news and hailed the series of investment proposals as a boost to the food processing Industry of India. From 2011-12 to 2015-16 (until December), the total FDI inflows in ...
Govt to import more pulses to tackle price rise
The Dollar Business Bureau In order to tackle the crisis of rising prices of pulses, the government on Thursday came up with a multi-pronged approach which includes additional imports of pulses and distributing 'chana dal' at subsidised rates. A statement by Ministry of Food & Public Distribution said, “the National Consumer Cooperative Federation (NCCF), to make sure that pulses will be available at reasonable prices, has given directions to begin selling chana dal at Rs.60 a kg through its mobile outlets in the national capital." The Federation is already selling 'urad' and 'tur' through its mobile outlets at Rs.120 a kg. The Management Committee of Price Stabilisation Fund, headed by Hem Pande, Consumer Affairs Secretary, held in New Delhi, has taken decisions in this regard. The Committee had ...
Govt imposes 20% custom duty on sugar exports
The Dollar Business Bureau The government on Thursday levied a customs duty of 20% on the exports of sugar to boost local supply and control domestic prices which are at a high of Rs.40 per kg. The decision comes at a time when food prices have increased sharply on food items such as tomato, pulses and wheat. "To keep a tab on the domestic sugar prices, the government has taken a decision to impose customs duty of 20% on the exports of raw sugar, refined or white sugar," according to a release by the Finance Ministry. The Central Board of Excise and Customs (CBEC) released the same in a notification. Due to a sharp increase in global prices, customs duty has been imposed to curb ...
Indian govt orders import of 12,500 MT pulses
The Dollar Business Bureau The Government of India has ordered an import of 12,500 MT of pulses to create a buffer stock, Ministry of Consumer Affairs, Food & Public Distribution said in a statement on Tuesday. The buffer stock included 10,000 MT of masoor dal (split red lentil) and 2,500 MT urad dal (split black gram). India has already imported 14,321 MT of pulses till now out of the total import quantity of 38,500 MT, through government agencies. As on Monday the Indian government has procured 64,000 MT of rabi pulses. With the earlier procurement of 51,000 MT during the kharif season, the country has procured in total 1,15,000 MT pulses this year, the ministry informed during the review of prices of ...
India to import additional 3,000 tonnes of pulses
Deepak Kumar | The Dollar Business In the wake of falling production and soaring prices of pulses, the government has decided to import 3,000 tonnes of pulses – 2,000 tonnes of tur and 1,000 tonnes of urad—to meet the domestic demand. The decision was taken on Monday during a meeting between Union Cabinet Secretary P K Singh and secretaries of states departments. Singh also directed all states to increase procurement and create a buffer stock of pulses. The government had earlier imported 5,000 tonnes of tur and placed a revised order for importing additional 2,000 tonnes of chickpeas. “Cabinet Secretary directed that all the 400 outlets of Kendriya Bhandar and Safal in Delhi should start distributing imported tur dal immediately,” Ministry ...
