COOPERATIVE SECTOR
Plan to set up coop bank, milk producers' union in every district of country: Amit Shah
Union Cooperation Minister Amit Shah outlined the government's ambitious plans during the 'Sahkar se Samriddhi' programme marking the 102nd International Day of Cooperatives. He announced targets to establish cooperative banks and milk producers' unions in every district, and to set up multipurpose agriculture credit societies in two lakh panchayats lacking cooperative institutions within five years.
Modi’s Moscow trip: India could open 2 additional consulates in Russia
External Affairs Minister S. Jaishankar met Russian Foreign Minister Sergey Lavrov at the Shanghai Cooperation Organisation Summit to prepare for PM Modi’s visit to Moscow on July 8-9. Discussions included the opening of two new Indian consulates in Russia and strengthening bilateral ties in defense, energy, trade, and connectivity. Modi will receive Russia’s highest state honor, Order of St Andrew the Apostle. Jaishankar also addressed the issue of Indians drafted in the Russian military for the Ukraine conflict.
Global community must isolate, expose nations harbouring terrorists...: PM Modi at SCO Summit
External Affairs Minister S Jaishankar delivered these remarks on behalf of PM Modi at the Shanghai Cooperation Organisation being held under Kazakhstan's Presidency in Astana.
EAM Jaishankar meets Chinese counterpart Wang Yi on sidelines of SCO meeting in Astana
External Affairs Minister S Jaishankar met Chinese counterpart Wang Yi at the SCO Heads of State summit in Astana, exchanging views amid ongoing military standoff since 2020. They discussed disengagement along the Line of Actual Control (LAC) and regional issues. Jaishankar, leading India's delegation, was welcomed by Kazakhstan's Deputy FM and visited Pushkin Park to honor Mahatma Gandhi. He thanked Kazakhstan for hosting the SCO Summit, emphasizing India's strategic ties and engagement in Central Asia. The summit aims to review SCO's activities and discuss multilateral cooperation and global issues.
Indian Navy Chief Admiral Dinesh K Tripathi calls on Bangladesh PM Sheikh Hasina
Indian Navy Chief Admiral Dinesh K Tripathi met Bangladesh's Prime Minister Sheikh Hasina during his visit, discussing India's support in Bangladesh's 1971 Liberation War. The visit aims to strengthen defense ties and explore naval cooperation. Admiral Tripathi will also meet Bangladesh Navy Chief Admiral M Nazmul Hassan and review a Passing Out Parade at the Bangladesh Naval Academy. The meeting reflects the deep partnership and historical bonds between the two nations, highlighted by recent high-level defense exchanges.
China says US targeting of AI not helpful to healthy development
Last month, the United States released draft regulations to prohibit or mandate notification of specific investments in artificial intelligence and other technology sectors in China that might pose a threat to US national security. "We strongly oppose these sanctions," said Chinese UN Ambassador Fu Cong.
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India, Australia look at increasing cooperation in critical minerals, processing
Critical minerals such as copper, lithium, nickel, cobalt and rare earth elements are essential components in many of today's rapidly growing clean energy technologies - from wind turbines and electricity networks to electric vehicles.
India, Bangladesh reiterate commitment to free, open, inclusive, secure and rules-based Indo-Pacific
India and Bangladesh have reaffirmed their commitment to a free, open, and rules-based Indo-Pacific region. They will co-lead the Disaster Risk Reduction and Management pillar of the Indo-Pacific Oceans Initiative (IPOI). The joint statement from Prime Ministers Modi and Hasina emphasized cooperation on disaster resilience, climate impact mitigation, and regional integration under BIMSTEC, SAARC, and IORA. They plan to enhance trade, investment, and connectivity, negotiate a Comprehensive Economic Partnership Agreement (CEPA), and strengthen defense ties.
"We should expand our horizon": Bangladesh PM's adviser on economic cooperation with India
Bangladesh Prime Minister Sheikh Hasina's Private Industry and Investment Adviser, Salman F Rehman, emphasized expanding economic cooperation with India to strengthen bilateral ties. During Hasina's two-day state visit to India, Rehman highlighted interest in various sectors including energy, healthcare, FMCG, IT, and agriculture. He also noted the Confederation of Indian Industry's proposal for Bangladeshi businesses to explore opportunities beyond northeastern India. Both nations aim to enhance their economic collaboration, reinforcing the strong bond under Prime Ministers Modi's "Neighbourhood First" policy and Hasina's regional focus.
INDUS-X defence initiative between US & India marks 1st anniversary
The India-US Defence Acceleration Ecosystem has marked the first anniversary of its initiative to build a defence innovation bridge under the Critical and Emerging Technology Initiative (iCET). Launched on June 21, 2023, during Prime Minister Narendra Modi's state visit to Washington, DC, INDUS-X enhances the strategic and defence partnership between India and the US. This initiative has bolstered private sector cooperation and facilitated partnerships among defence technology companies, investors, and researchers. The upcoming INDUS-X Summit in September 2024 will focus on leveraging private capital for defence innovation, further strengthening the India-US defence ties.
EAM Jaishankar & Sri Lanka President Wickremesinghe formally commission Maritime Rescue Coordination Centre
External Affairs Minister S Jaishankar and Sri Lankan President Ranil Wickremesinghe commissioned the Maritime Rescue Coordination Centre built with a USD 6 million grant from India. Jaishankar discussed bilateral cooperation in various sectors. They unveiled a virtual plaque for the MRCC and housing projects. This the EAM's first overseas visit. He will focus on ongoing Indian projects and arrangements for a potential visit by PM Modi.
India ready to assist Nepal in development of IT sector: Ambassador Naveen Srivastava
The ambassador informed Sharma that New Delhi has made it easy for the Nepalis in India to get a mobile SIM as per the past agreement. India will address many other problems, including the bandwidth, he added during the meeting attended by the officials from the Ministry of Communication and Information Technology and the Ministry of Foreign Affairs.
Milk prices in India on the boil: What’s causing the hikes time and again?
Following India's completion of the monumental 18th Lok Sabha elections, a surge in prices emerged notably in milk and tolls. The nation's top two milk cooperatives, Amul and Mother Dairy, have announced a Rs 2 increase in their milk prices, effective June 3. Consequently, the full cream variants of Mother Dairy and Amul, previously priced at Rs 66 per litre in 2023, will now be priced at Rs 68 per litre.
No casualties reported after fire erupts due to split AC at Lotus Boulevard Society in Noida
A fire broke out in a building at Lotus Boulevard Society in Noida's Sector 100 due to a blast in an air conditioner on Thursday morning. The incident occurred in a flat on the 10th floor, triggering heavy smoke. Fortunately, no injuries or casualties were reported, thanks to the prompt action of security personnel and residents who activated the fire response teams. The firefighting systems in the society were effective, and the fire was quickly contained. Investigations are ongoing to determine the exact cause of the fire, suspected to be a short circuit in the AC unit.
Financial frauds declined by 46.7 per cent during 2023-24: RBI annual report
The Reserve Bank of India (RBI) reported a 46.7% drop in fraud value for 2023-24 compared to the previous year. Private-sector banks reported the most frauds, mainly small digital payment frauds, while public-sector banks had the highest fraud value, primarily in loans. The report highlights a focus on regulation, supervision, and financial stability for 2024-25, including enhancing cyber response and using AI to prevent fraud. It also notes India's robust economic growth, with strong macroeconomic fundamentals and significant capital expenditure planned. The Pradhan Mantri Garib Kalyan Anna Yojana extension will bolster food security.
Avaada Energy secures Rs 315 crore finance for captive solar project in Karnataka
Avaada Energy secured Rs 315 crore financing from Aseem Infrastructure Finance ltd (AIFL) for a solar project in Karnataka. It will be developed under a long-term captive Power Purchase Agreement (PPA) with Karnataka Milk Federation (KMF). The funding from AIFL demonstrates Avaada's project financing capability and strategy. The project, located in Kalaburagi district, is expected to be completed in Q3 FY25.
ET Exclusive: Kyrgyzstan & India united by history; Bishkek favours Indian FDI across sectors, says envoy
Kyrgyzstan and India promote investments in various sectors, amidst ties strengthening and cultural collaborations. Bishkek's focus on economic growth and bilateral relations stands out amidst recent tensions. The potential in textiles, hydropower, tourism, and the need for enhanced banking connections are key highlights.
India, UK review implementation of 10-year roadmap
Foreign Secretary Vinay Kwatra reviewed the India-UK 'Roadmap 2030' in London, enhancing bilateral cooperation in trade, defence, security, science, and people-to-people exchanges. Meetings were held with Minister of State Lord Tariq Ahmad, MoS for Defence Procurement James Cartlidge, and NSA Sir Tim Barrow.
China willing to help Indian firms to cater to its market demand: Envoy Xu Feihong
China's new envoy to India, Xu Feihong, has stated that the Chinese market is open to all countries, including India. He emphasized that Beijing understands India's concerns over its burgeoning trade deficit and is willing to help Indian companies tap into the Chinese market. The trade deficit reached USD 101 billion in 2022, crossing the $100 billion mark. Xu reiterated that China understands India's concerns and is not seeking a trade surplus.
Foreign Secretary Kwatra meets Bangladesh PM Hasina, reviews bilateral ties with top officials
In the first official visit of a high-level official to Bangladesh after the formation of the new government in January 2024 here, Kwatra also met Bangladesh Foreign Minister Dr Hasan Mahmud and his counterpart Masud Bin Momen.
Unified GCC visa: Middle East’s multi-nation travel permit to be rolled out this year
The Saudi Tourism Authority has said the imminent introduction of the Unified GCC visa, permitting travellers to explore all six Gulf nations for more than 30 days, is scheduled for implementation by year's end. This initiative, introduced by the UAE Minister of Economy at the Arabian Travel Market, seeks to stimulate tourism and streamline travel throughout the GCC region. Comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, the Gulf Cooperation Council is actively participating in this endeavour.
Govt soon to finalise framework of state mining index to ensure ease of biz: Mines secretary
V L Kantha Rao emphasized the importance of a state mining index framework to promote cooperative federalism, competition, and data accuracy in the mining sector while urging states for timely data submissions.
Gulf's version of the Schengen visa to be called 'GCC Grand Tours', open up access to six countries
The GCC Grand Tours unified tourist visa aims to boost tourism by simplifying travel across Gulf countries, with an estimated 128.7 million visitors by 2030, enhancing the regional economy and cultural exchange opportunities.
NSA underscores India’s policy to use digital technology for inclusive economic development
National Security Advisor Ajit Doval highlighted India's policy to leverage digital technology for inclusive economic development during an international security meet in St Petersburg, Russia. He emphasized the need for international cooperation to establish an open, stable, secure, reliable, and inclusive framework for information security. Doval reiterated India's commitment to collaborate with the international community to counter the misuse of information and communication technologies by terrorists and criminals. He proposed collaboration among governments, the private sector, academia, technical communities, and civil society to ensure information security.
India pushes for health sector coop with Central Asia in SCO meet
The discussions, attended by heads of delegations, witnessed the formulation of key agreements aimed at fortifying healthcare systems and fostering mutual support in addressing pressing public health challenges.
Cooperation Minister Amit Shah launches National Cooperative Database
National Cooperative Database is a web-based digital dashboard wherein data of cooperative societies, including national/state federations, have been captured. It has collected or mapped information about 8 lakh cooperatives. Addressing the gathering at the launch function, Shah said that the Ministry of Cooperation is actively working to connect millions of people with the country's economy and development.
PM Modi inaugurates 11 godowns in PACS under world's largest grain storageplan in coop sector
Addressing a gathering here, the prime minister said the cooperative sector is instrumental in shaping a resilient economy and propelling the development of rural areas. "Today we have launched the world's largest storage scheme for our farmers. Under this, thousands of warehouses and thousands of godowns will be constructed across the country," he said.
Amul jaisa koi nahi: PM Modi hails Amul's contribution in India's dairy sector; calls for making it world's No. 1 dairy co
Prime Minister Narendra Modi inaugurated five projects worth Rs 1,200 crore at the Golden Jubilee celebration of Gujarat Cooperative Milk Marketing Federation (GCMMF), which runs the brand Amul. Modi praised Amul's uniqueness and its contribution to India's dairy sector, calling it an 'example' for future generations. He also highlighted Gujarat's contribution to India's dairy sector, highlighting the double-engine government and the double-engine milk production in the state.
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