Indias exporters could face challenges with continued appreciation of the rupee, Ajay Sahai
The Dollar Business The industry body FIEO forecast challenges for the exporters if the rupee continued appreciating in the future. Global trade is expected to grow at 2.4% in 2017, and there is likelihood of extreme instability in currencies. Though the rupee has gained against the dollar, and since competing currencies of other countries could depreciate further, rupee’s appreciation could hurt India’s competitiveness in its labour intensive business units especially sectors such as agro-products industries, handloom, leather, textiles and marine products. The government should support these sectors based on their forex returns so that those companies handling large imports, which will be benefitted with the appreciation are provided less support than those having little or no support. Speaking at a press meet ...
Patanjali successfully bids for food park at MIHAN
The Dollar Business Bureau Patanjali Ayurved Ltd, the FMCG company founded by Baba Ramdev, has successfully submitted a proposal to set up a modern food park at Multi-modal International Hub Airport at Nagpur (MIHAN). Earlier, Maharashtra Airport Development Company (MADC) had floated two global tenders this year, one in May and the other in July, but has not been able to get a bidder. MADC has floated the tenders for the third time and got Patanjali Ayurved Ltd as the qualified bidder, the state-owned agency said in a press release on Friday. The state-run agency has taken a decision to create agro, herbal, food and forest-based industrial parks, spreading across a 230-acre land in MIHAN. This project is a part of MADC’s efforts in the development of ...
Change of guard at FTAPCCI during this month
Sharath Chowdary Federation of Telangana and AndhraPradesh Chambers of Commerce and Industry (FTAPCCI) is going to be headed by a new President this month. The term of the present President Anil Reddy Vennam ends on 15 June, 2016. On the same day, there will be an annual general meeting and the current Senior Vice President Ravindra Modi will be appointed as the President. With more than 3,300 members, the apex industry chamber of the state will organise elections for the post of Vice President and other executive posts of the industry body this month end, Anil Reddy told The Dollar Business on the side lines of the announcement of FTAPCCI Excellence Annual Awards programme for the year 2014-15 in Hyderabad on Friday. The ...
MSMEs incubation centres to promote entrepreneurship in agri-industry
The Dollar Business Bureau The Union Minister for Micro, Small and Medium Enterprises (MSME), Kalraj Mishra, on Wednesday, launched a ‘Scheme for promoting Innovation, Entrepreneurship and Agro Industry’. Speaking on the occasion, the Union Minister said that the scheme was aimed at setting up network and incubation centres for the promotion of start-ups for innovation and entrepreneurship in the agro-industry. This scheme has got its origin in the announcement made by the Union Finance Minister, Arun Jaitley in his budget speech, to set up a ‘Technology Centre Network’ to promote Innovation, Entrepreneurship and Agro Industry with a fund of Rs 200 crore. Referring to the budget speech, Kalraj Mishra also highlighted about the need for implementation of a programme to ...
