Infrastructure status for logistics sector to boost investment
The Dollar Business Bureau The Government has granted infrastructure status to the logistics sector, which covers warehousing and cold chain facilities, a step that would to attract more investment at remunerative rates for these segments. “The Logistics Sector has been granted Infrastructure status. It will enable the Logistics Sector to avail infrastructure lending at easier terms with enhanced limits, access to larger amounts of funds as External Commercial Borrowings (ECB), access to longer tenor funds from insurance companies and pension funds and be eligible to borrow from India Infrastructure Financing Company Limited (IIFCL),” Finance Ministry said in a statement on Monday. Due to the higher cost of logistics in India as compared to developed nations, the need has been felt for the ...
Mega Food Parks to be processing hubs across India
The Dollar Business Bureau The Union Ministry of Food Processing, Government of India, on Tuesday announced initiatives towards development of food processing activities and better management of food products in India. In this regard, Harsimrat Kaur Badal, the Union Minister of Food Processing, informed about the government’s steps towards establishment of one Mega Food Park (MFP) in every State across the country. Speaking at the inaugural event of 30th AAHAR International Food and Hospitality Fair organised by India Trade Promotion Organisation (ITPO), Badal referred to the MFP initiative as a flagship program of her Ministry and said the MFPs shall become a hubs for food processing activities across all the States. Stating that there was a huge potential for value addition for ...
