Ecuador interested in PTA with India, Colombia seeks co-op in agri and food processing sectors
The Dollar Business Bureau Commerce Secretary, Rita Teaotia had led an official and a business delegation to Ecuador and Colombia from 16th to 19th May. The Commerce Secy’s visit to Ecuador could in many ways reveal India’s keenness to further its interests in the country. The Indian side had representatives from Pharma, IT, Auto, Mining & Construction, Bio Fuels, Agro-Chemicals, Iron & Steel and Textiles and representatives from FICCI accompanying the Secretary. Ecuador though a tiny country holds many promises through its natural resources. It has gold reserves of 2,25,000 tons, silver reserves of 12,500 tons and as per an OPEC official release, its total share of OPEC production in crude is 1.7% and as per Jan 2017 stats, has produced 536.00K barrels ...
Tata Chem sells urea business to Yara for Rs 2,670 cr
The Dollar Business Bureau Tata Chemicals Ltd, a Tata group company, has announced on Wednesday that it is selling its urea business to Norway's Yara International for Rs.2,670 crore ($400 million). Under the agreement, Tata Chemicals will sell its Barbala urea plant in the state of Uttar Pradesh, which has a yearly capacity of producing 0.7 million tonnes of ammonia and 1.2 million tonnes of urea. The deal is subject to regulatory clearance and is likely to be completed in the next 9-12 months’ time, and Yara International would fund this deal through its internal accrual. “The Board has approved transfer of the business of sale and distribution of urea and customised fertilisers, manufactured by the company at its plants located ...
Fake pesticides put India's food grain exports at risk
The Dollar Business Bureau India’s export of 29 million tonnes of food grains worth Rs. 1, 578 billion ($26 billion) is at stake due to increasing use of fake pesticides, says a study. “India's position as one of the leading food grain exporter in the world is fully at stake as the possibility of rumors or sabotage by other countries or rejection of Indian exports food items from developed importing countries would increase," FICCI (Federation of Indian Chambers of Commerce and Industry) said in its report. Besides food grains, exports of 3 million tonnes of fruits and vegetables worth Rs. 88 billion ($1.43 billion) is also at stake due to non-genuine pesticides. The study titled ‘Menace of Spurious/Counterfeit Pesticides in India’ warned ...
