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On the opening day of the World Economic Forum in Davos, Maharashtra secured investment agreements totaling ₹6,25,457 crore, as Chief Minister Devendra Fadnavis engaged with prominent business leaders. Notably, Tata Group Chairman N. Chandrasekaran announced a ₹30,000 crore investment in the state. Fadnavis also met with Carlsberg Group CEO Jacob Aarup-Andersen, who expressed interest in investing in Maharashtra, and Lulu Group's M.A. Yusuff Ali, who aims to expand operations in Nagpur. Discussions with ReNew Power's Sumant Sinha focused on a significant wind energy project in Beed district, while Schneider Electric's Deepak Sharma explored collaboration on ITI empowerment and AI in energy. Additionally, Fadnavis met Mastercard Asia-Pacific President Ling Hai and Louis Dreyfus CEO Michael Gelchie to discuss agriculture and food processing, alongside a meeting with Cognizant's CEO Ravi Kumar S. The engagements highlight Maharashtra's proactive approach to attracting substantial investments. 
Published: Jan 22 2025, 2 pmeznews.inThe Coffee Board of India and the National Livelihood Mission-Karnataka have signed a memorandum of understanding aimed at empowering approximately 100,000 women from self-help groups across the state through training in coffee brewing and café management. Signed on January 17, the initiative is designed to foster women entrepreneurship and is part of a broader strategy to promote coffee in Karnataka. The project will be implemented in two phases, starting with 400 women trained as master trainers at the Coffee Board's headquarters in Bengaluru, who will then train others. The Karnataka government has allocated ₹25 crore in the 2024-25 budget to support this initiative, which aims to establish 2,500 coffee kiosks and enhance the skills and market competitiveness of women entrepreneurs, ultimately promoting gender equality and economic growth in the region.
Published: Jan 22 2025, 5 pmeznews.inNDDB Dairy Services (NDS) is set to enhance its operations at the Alamadhi Semen Station in Chennai by introducing 10 new sex-sorting machines, developed using indigenous technology that significantly increases the likelihood of female calf births. These machines, capable of producing 1 million sex-sorted doses annually, will be priced at ₹265 each—three times lower than the rates offered by multinational firms. NDS has already secured an order for 200,000 doses from Rajasthan and is in talks with several state governments, including Uttar Pradesh and Punjab. The 'Gausort' machines, created in collaboration with Jiva Sciences, were inaugurated by Prime Minister Narendra Modi in October 2024. Currently, only a few companies globally manufacture sex-sorted semen, with NDS aiming to operate these machines across various states rather than selling them outright. The initiative is expected to revolutionize the dairy industry by making sex-sorted semen more accessible and affordable.
Published: Jan 22 2025, 3 pmeznews.inIn its latest report, BNP Paribas highlights a mixed outlook for the Indian economy, noting a recovery in key indicators such as credit growth, industrial production, and GST collections following a downturn in late 2024. Despite an estimated GDP growth of 6.4% for FY25, corporate earnings are projected to slow to 4-5%, particularly in sectors like oil refining, after benefiting from declining commodity prices last year. Elevated equity valuations persist, with the Nifty50 index trading at a premium to global counterparts, driven by strong economic growth. However, the report warns that rising supply from IPOs and foreign institutional investor (FII) selling—now at a decade low—could cap valuations. While domestic institutional flows have increased, the ongoing FII sell-off poses a risk to market stability, as India has historically attracted significant foreign investment despite current challenges like rising US yields and high valuations.
Published: Jan 22 2025, 3 pmeznews.inThe Employees' Provident Fund Organisation (EPFO) reported a significant increase in net member additions for November 2024, with a total of 14.63 lakh new members, marking a 9.07% rise from October. This growth is attributed to improved job opportunities and heightened awareness of employee benefits, bolstered by EPFO's outreach initiatives. Notably, the 18-25 age group accounted for 54.97% of new memberships, with 4.81 lakh additions, reflecting a 9.56% increase from the previous month. The data also revealed that approximately 14.39 lakh members exited and rejoined EPFO, a rise of 11.47% month-on-month. Gender analysis showed that around 2.40 lakh new female members were added, a 14.94% increase from October. Maharashtra led the states in net member additions, contributing 20.86% of the total, while other states like Karnataka and Tamil Nadu also showed significant growth.
Published: Jan 22 2025, 2 pmeznews.inIndia's government is set to increase its spending on food, fertiliser, and cooking gas subsidies to ₹4.1 lakh crore ($47.41 billion) for the upcoming fiscal year, marking an 8% rise from the previous year. This increase is primarily driven by higher food and energy costs, with the food subsidy alone projected to rise by 5% to nearly ₹2.15 lakh crore ($24.86 billion). The budget for the current fiscal year, ending March 31, stands at ₹2.05 lakh crore ($23.70 billion). The government is also expected to allocate approximately ₹25,000 crore ($2.89 billion) for cooking gas subsidies, a significant increase from ₹11,900 crore ($1.38 billion) this year. The fertiliser subsidy is likely to remain unchanged at ₹1.7 lakh crore ($19.66 billion). Finance Minister Nirmala Sitharaman will unveil the national budget on February 1, amid concerns over slowing economic growth and rising global uncertainties.
Published: Jan 22 2025, 2 pmeznews.inFarmers in India could see substantial earnings from a new initiative focused on the Bajra-Napier hybrid grass, which has the potential to generate over ₹12 lakh per hectare annually. Reliance Industries (RIL) is set to invest approximately ₹100 crore in collaboration with the Indian Council of Agricultural Research (ICAR) to develop 11 grass species for compressed biogas production. The project, spanning five years, aims to enhance yields, particularly in southern states where the Bajra-Napier hybrid can produce up to 350 tonnes per hectare annually. However, challenges remain in achieving consistent yields across varying climates and seasons, especially in northern regions. While the initiative could provide farmers with lucrative returns, concerns over food versus fuel have previously hindered its promotion. Currently, farmers can earn around ₹5,000 per tonne, translating to significant annual profits, although costs for irrigation and manual harvesting must be considered.
Published: Jan 22 2025, 12 pmeznews.inA training programme aimed at combating antimicrobial resistance (AMR) in India's fisheries and animal sciences sectors was inaugurated by George Ninan, Director of the ICAR-Central Institute of Fisheries Technology (CIFT). Funded by the Food and Agriculture Organization (FAO) and USAID, the initiative gathered 31 researchers from the Indian Network for Fisheries and Animal Sciences on Antimicrobial Resistance (INFAAR). Participants were trained in the use of the FAO Assessment Tool for Laboratories and Antimicrobial Resistance Surveillance Systems (FAO ATLASS), which is designed to enhance monitoring and response capabilities against AMR. The programme, organized by CIFT's Microbiology, Fermentation, and Biotechnology Division, featured expert guidance from FAO representatives, including Nicolas Keck and Michael Treilles from FAO Rome. This initiative is expected to significantly bolster India's efforts in developing effective containment strategies for AMR in these vital sectors.
Published: Jan 22 2025, 11 ameznews.inNew investment announcements in India surged by 39% year-on-year in the first nine months of FY25, exceeding ₹32 lakh crore, with the power sector leading at 42% of total announcements, according to SBI Research. Infrastructure and manufacturing followed, contributing 23% and 19%, respectively. The report highlights a significant increase in private sector participation, rising from 50% in FY21 to over 70% in 9MFY25. Government investment also saw a notable rise, reaching 4.1% of GDP in FY23, the highest since FY12. The gross block of Indian corporations, representing around 4,500 listed entities, grew from ₹73.94 lakh crore in March 2020 to ₹106.50 lakh crore by March 2024, with an average annual addition of over ₹8 lakh crore. This trend indicates a robust outlook for future investments, bolstered by a substantial capital work in progress of ₹13.63 lakh crore as of March 2024.
Published: Jan 22 2025, 11 ameznews.inAgTech platform DeHaat has announced the all-cash acquisition of AgriCentral, a farm advisory service owned by Olam Agri, significantly expanding its reach to over 12 million smallholder farmers in India. While the financial details of the deal remain undisclosed, DeHaat aims to enhance its digital services and value chain offerings through AgriCentral's established platform, which boasts over 10 million users. Shashank Kumar, DeHaat's Co-founder and CEO, emphasized that the integration will allow for the introduction of value-added services such as precision advisory, mechanization, insurance, and cattle advisory, ultimately improving farmers' livelihoods. Founded in 2018, AgriCentral provides essential tools like real-time crop price data and personalized crop planning, aligning with DeHaat's mission to leverage technology for the benefit of Indian farmers. Ramanarayanan Mahadevan, CEO of Jiva AG PTE, expressed confidence in DeHaat's ability to scale AgriCentral's impact further.
Published: Jan 22 2025, 11 am
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