Success in my Habit

Tuesday, December 17, 2019

Vedanta set to invest Rs 60,000 crore in India over 3 years, promises more FDI #Vedanta #Sukumarbalakrishnan

Vedanta Resources Chairman Mr Anil Agarwal said the company is planning to invest around Rs 60,000 crore (US$ 8.58 billion) in the upcoming 2-3 years.

The company is also expecting a top line of US$ 30-40 billion and a bottom line of US$ 10 million in 4-5 years, Agarwal said.

"I am committed to India. I have already invested US$ 35 billion in India in the past 10 years. I have bought 13 companies so far including Hindustan Zinc, Balco, Sesa Goa and Cairn and all of them are doing well. I hope to invest Rs 60,000 crore (US$ 8.58 billion) in the next 2-3 years," he said.

Though, any further details on how the company plans to utilise these funds were not given, but the interest to acquire a few public sector companies was shown.

"We currently have the best in class assets, and we are looking at many more nationalised companies. I want to tell the government that it should not depend on foreigners but depend on us. They (foreign investors) want to make money but we want to make the country. If government depends on us, we will also bring in foreign investment," Mr Agarwal added.

He further said that the company is strongly interested in the glass and optical fibre and cable industries.

"Sterlite Tech is doing a good work in optical fibre. I am now keen on developing the glass industry which will be used in electronics. We are developing the glass used in mobiles, TV sets and computers in countries like Korea, Taiwan and Japan. If the atmosphere in India is conducive, we will get to do that here as well. This will give a boost to the electronics industry," he added.

When asked about the growth the company is expecting by FY2024-25 he said, "we are hoping to have a USD 30-40 billion of revenues and a profit of USD 10 million."

He added that as a part of his commitment to the country the aim was to take care of 10 crore children and 5 crore women and give back 75 per cent of wealth to the society.

"I am committed to India and the company has already paid Rs 2 lakh crore (US$ 28.62 billion) in tax in the last 6 years. This contribution is however very small," Mr Agarwal added.

Cipla acquires brand, trademark for anti-diabetic drug Vysov in India #Cipla #Sukumarbalakrishnan

Cipla Ltd, a homegrown pharma major, has acquired brand name and trademark rights for Vysov for anti-diabetic drug Vildagliptin for Indian market from Novartis, stated by Cipla on Monday. However, the acquisition amount has not been disclosed.

The company disclosed in a regulatory filing that Cipla has been co-marketing Vildagliptin with Novartis under brand names Vysov and Vysov M (Vildagliptin plus Metformin).

"Owing to the increased affordability of Vildagliptin it is more accessible for better management of the disease. Cipla's acquisition of the trademark rights of Vysov will enable us to contribute to easier access of the drug in India," Cipla Executive Vice-President & Head India Business Nikhil Chopra said.

The company said, in India, the products have witnessed a strong demand for last couple of years and are currently unavailable across the country. Vildagliptin is backed by strong clinical data and is therefore a widely prescribed antidiabetic medicine for adults with type-2 diabetes mellitus, it added.

According to the IQVIA MAT data of November 2019, the market size of Vildagliptin stood at Rs 818 crores (US$ 117.04 million), the company said.

Amendments approved in interest subvention scheme for MSMEs #MSMEs #Sukumarbalakrishnan

The Minister for Micro, Small and Medium Enterprises and Road Transport & Highways, Shri Nitin Gadkari approved the changes in the Interest Subvention Scheme for MSMEs, in a meeting held here today to review the functioning of the scheme. The improvements are set to provide momentum giving fillip to the MSME sector. The Interest Subvention Scheme for MSMEs was launched by the Prime Minister Shri Narendra Modi in November 2018. The modifications in operational guidelines carried out are based on suggestions made by various stakeholders, including banks and lending institutions who had brought to light operational difficulties which were hindering a smooth rollout of the scheme.

The details of the improvements / modifications are as below: -

1. Settlement of claims based on internal / concurrent auditor certificate and submission of statutory auditor’s certificate once by June 30, 2020;
2. Acceptance of claims in multiple lots for a given half year by eligible institutions;
3. Requirement of Udyog Aadhar Number (UAN) is dispensed with for units eligible for GST.

Unit not required to obtain GST, may either submit Income Tax Permanent Account Number (PAN) or their loan account must be categorised as a MSME by the concerned eligible institutions;

4. The last date of submission of claims for half-yearly period ended March 31, 2019 has now been extended till December 31, 2019.
5. Trading activities without UAN have been made eligible.
6. 50 per cent of the estimated claim amounts may be released to eligible institutions (at least to those belonging to Public Sector Banks), based on data / information to be furnished by them and the Utilisation Certificate duly certified by respective statutory auditor to submitted by June 2020.

Speaking about the decision Shri Gadkari said, "It is expected that the modifications in the scheme guidelines will lead to fulfilment of objectives of the scheme, i.e. to increase productivity in MSMEs through access to credit at reduced cost". He also added that the Government is committed to enhancing credit to MSME sector and the implementation of the scheme is being closely monitored to help MSMEs get incremental credit of up to Rs 1 crore (US$ 0.14 million) with Interest Subvention of 2 per cent by Government.

New Guidelines and Simplified Approval Process for Coal Projects; to Enhance Ease of Doing Business

In sync with the Government's commitment for 'Ease of doing business', the Ministry of Coal has decided to simplify the process of clearance for Coal Mining Projects. This will not only expedite operationalisation of already allotted coal blocks, but also encourage prospective investors/bidders in future auctions.

The Ministry of Coal has re-engineered the Mining Plan preparation and approval process. This is likely to slash the approval period substantially from existing 90 days to about 30 days. The re-engineering process includes simplification of guidelines& format for preparation of Mining Plan, amendments in relevant provisions of Mineral Concession Rules, 1960 and approval process.

The proposed simplified guidelines and format not only reduce the mining plan formulation time but also make the document lighter and easier to comprehend. This will further facilitate hosting the soft copy in an accessible data base.

The proposed system of mining plan preparation and approval allows the lease to get the mining plan prepared by Mining Plan Preparing Agency (MPPA) and get it certified by Mining Plan Certifying Agency (MPCA) and submit the mining plan to Ministry of Coal for approval. This will improve the quality &reduce time for detailed scrutiny.

To ensure the quality of preparation of Mining Plan, Government approved accrediting body will accredit agency(s) consisting a team of multi-disciplinary background, which will be recognised for preparation of mining plan and for certification (i.e. scrutiny from geo-mining & techno-administrative angles),Government will accredit agency(s) consisting of multi-disciplinary domain experts, who will certify that the mining plan prepared by MPPA, is in line with the prevailing guidelines and is complete in all respects. On certification by the MPCA, a committee in government will consider the Mining Plan for approval and Government will dispose application of within the stipulated period.

In the next phase to further ease the system, the entire Mining Plan approval process is proposed to be made online for application, processing and approval. This system will ultimately interact with PARIVESH portal of MoEF & CC and similar portals of other related ministries and organisations of the Central and State Governments.

India Among top 10 Improvers in EODB; India Ranks 63 RD Among 190 Countries; 21,778 Start-ups Recognised Under Start-up India Initiative

India's remarkable jump in World Bank's Ease of Doing Business Report 2020.

India ranks 63rd among 190 countries improving by 14 ranks from its rank of 77 in 2019. India has improved its rank in 7 out of 10 indicators and has moved closer to international best practices. The 2020 edition of the Report acknowledges India as one of the top 10 improvers, third time in a row, with an improvement of 67 ranks in 3 years. It is also the highest jump by any large country since 2011.

Startup India- reaching new heights, making India a global leader in Innovation

A total of 21,778 startups are now recognised under the Startup India Initiative, of which 2,912 startups have been recognised since 1st June 2019.
The Startup India Hub has 3,42,614 registered users of which 21,540 users have been added since 1st June 2019. With the amendment in Section 54GB of Income Tax Act on August 1st, 2019 the condition of minimum holding of 50 per cent of share capital or voting rights in the startup has been relaxed to 25 per cent.

India's remarkable jump on the Global Innovation Index

In the past 4 years India's rank in the GII has improved from the 81st rank in 2015 to the present 52nd rank in GII 2019 report. India became the first developing country to launch the Global Innovation Index (GII) in association with World Intellectual Property Organisation (WIPO) and Confederation of India (CII).

In order to promote innovation the following measures have been taken:

Final Patent (amendment) Rules, 2019 - published on 17th September 2019 amending The Patents Rules, 2003 has led to significant simplification of rules, especially for startups and MSMEs.

The Patent (Second Amendment) Rules, 2019 published to reduce fees for small entity/MSMEs for processing of patent applications under various sections of the Patents Act, 1970 will incentivise MSMEs to file for more parents.

In order to promote export, the Department of Commerce has undertaken various measures:

Export Credit Guarantee Corporation (ECGC) has introduced a new Export Credit Insurance Scheme (ECIS) called 'NIRVIK' for exporters in which increased insurance cover for export credit has been extended by banks from existing average of 60 per cent to 90 per cent for both Principal and Interest.

Accounts with limits below Rs 80 crore (US$ 11.45 million), the premium rates will be moderated to 0.60 per annum and for those exceeding Rs 80 crore (US$ 11.45 million), it will be 0.72 per annum for the same enhanced cover. It is expected that the initiative will cost about Rs 1,700 crore (US$ 243.24 million) per annum. It will provide comfort to banks, bring down the cost of credit due to capital relief, less provision requirement and liquidity due to quick settlement of claims and will ensure timely and adequate working capital and relief to MSMEs.

To enhance ease of doing business, Deemed Export drawback has been allowed on All Industry Rate of drawback schedule.

An online portal for filing applications under 'Transport and Marketing Assistance (TMA)' scheme for Specified Agriculture Products has been launched.

Easing Exporters' claims with ECGC through transparency

A database has been prepared by ECGC for all pending claims and online access on status of claims has been provided. This will be a critical tool for providing information access to exporters.

The online "Origin Management System" gives single access point for all exporters, for all Free Trade Agreements (FTAs) Preferential Trade Agreements (PTAs) and for all agencies. India has 15 FTAs/PTAs and 7 lakh 'Certificates of Origin' are issued annually. The platform will be made live for FTAs as per the concurrence of the concerned partner countries. This process is electronic, paperless and transparent with real time tracking of FTA utilisation at product level and country level. It will also lead to reduced transaction cost and time.

Scheme for Remission of Duties or Taxes on Export Product (RoDTEP) formulated to replace existing Merchandise Exports from India (MEIS) scheme. This will be a WTO compliant scheme for promotion of exports. Textiles and all other sectors which currently enjoy incentives up to 2 per cent over MEIS will transit into RODTEP from 1.1.2020. RoDTEP will span all sectors and the revenue foregone will be about Rs 50,000 crore (US$ 7.15 billion).

Infusion of funds for Export Support

A capital of Rs 389 crore (US$ 55.66 million) has been infused into Export Credit Guarantee Corporation (ECGC) on 21st June 2019. This will provide extra support to exports to emerging and challenging markets like Africa, CIS, Latin America and Asian countries.

A Grant-in-aid (corpus) of Rs 300 crore (US$ 42.92 million) has been contributed to National Export Insurance Account (NEIA) trust on 21st June 2019, thereby, enhancing its risk-taking capacity to support project exports in challenging markets.

Boost to Gem and Jewellery exporters by resolution of various issues like removal of the requirement of paying IGST on re-import of goods which were exported earlier for exhibition purpose/consignment basis. Allowing partial discharge of bonds executed by nominated agencies/banks for import of gold to be supplied to jewellery exporters, thereby enabling nominated agencies/banks to release bank guarantee of jewellery exporters who have fulfilled their export obligation has helped in release of blocked working capital.

National Logistics Policy, 2019

The National Logistics Policy is being prepared with the aim to bring down total logistics cost from 14 per cent to 9 per cent of country's GDP. The policy aims to boost business competitiveness, drive economic growth and make India a global logistics hub.

The Multi-Modal Transportation of Goods Bill, 2019 has been finalised for approval. This aims at facilitating the movement of goods for exports, imports and domestic trade. It will help to fix accountability and liabilities for violation of its provisions.

Skilling for Logistics Sector

34 Qualification Packs (QPs) for skill development of manpower engaged in Logistics Sector have been developed and finalised in collaboration with Logistics Skill Council. This is the first time that such qualification packs have been developed.

Implementation of Agriculture Export Policy

The Agriculture Export Policy has been approved with an outlay of Rs 206 Crores (US$ 29.47 million) for 2019-20. In order to establish linkage between FPOs and the exporters a portal has been created by Agricultural & Processed Food Products Export Development Authority (APEDA). About 740 Farmers Producer Organisation (FPO) have been registered under Farmers Connect Portal.

Schemes for backward regions

Budgetary Support under GST Regime to the units located in Jammu & Kashmir, Himachal Pradesh, Uttarakhand and North Eastern States including Sikkim has been made. Rs 1,700 crore (US$ 243.24 million) has been authorised by Department for Promotion of Industry and Internal Trade (DPIIT) to Central Board of Indirect Taxes & Customs (CBIC) for disbursement to eligible industrial units. Rs 1,692 crore (US$ 242.09 million) already been disbursed by CBIC under the Scheme till 15th November 2019. During the last 6 months, Rs 86 crore (US$ 12.31 million) was disbursed to 420 industrial units under the Special Package to the Himalayan States.

Ensuring level playing field for domestic industry and farmers

For Antidumping the average number of days taken for initiation of anti-dumping investigations has come down to 32 days in 2019 (up to 1st November) as against 259 days in 2016

Directorate General of Trade Remedies (DGTR) for the first time ever initiated 2 cases of bilateral safeguards to protect domestic industry from injury. No bilateral safeguard has ever been initiated in the past by DG Safeguards/Directorate General of Anti-Dumping and Allied Duties.

There has been significant drop in the number of days taken to initiate two cases of Global Safeguards. In 2019, the average number of days taken is just 61, as compared the standard 75 days.

In order to ensure interests of the Indian industry and farmers in FTAs India successfully laid out its stand in Regional Comprehensive Economic Partnership (RCEP) India's key concerns were not addressed. India took a strong stance to protect the interest of domestic producers. This decision will help vulnerable sectors including farmers and the dairy sector as well as small manufacturers, who would have been threatened by RCEP rules.

India has also secured agreement for review of ASEAN FTA (ASEAN-India Free Trade Area-AIFTA) after repeated follow up. This will help in removing rules that affect Indian producers and exporters and will also promote Indian exports and Make in India.

Steel Import Monitoring System (SIMS)

The SIMS will facilitate the Steel Industry by providing advance information about steel imports to all stakeholders including Government, steel industry and steel importers for effective policy interventions. Importers of specified steel products will register in advance on the web portal of SIMS providing necessary information. The registration will be online and automatic, and no human intervention is required.

SIMS has been notified with effect from 1st November 2019.

Trade Facilitation Measures

The completion of negotiation of India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA) will enable trade promotion between the two countries.

Improving Trade with Bangladesh - Besides the four operational Border Haats across India-Bangladesh border in Tripura and Meghalaya, construction of three Border Haats in Meghalaya, out of six already identified locations (two in Tripura and four in Meghalaya) has been completed.

Merger of Council of Trade and Development and Board of Trade: providing a common platform for addressing stakeholder concerns
This common platform, comprising of representatives from industry, export promotion councils, Government of India and State Governments and representatives from Banking and Finance Sector is playing a critical role in addressing export related concerns, with a focus on addressing these on a priority basis. The first meeting of this common platform took place on the 6th of June 2019.

Special Economic Zone (Amendment) Bill, 2019; first legislation passed by newly formed Government
SEZ (Amendment) Bill 2019 became the first legislation of the newly formed Government to be passed by the Parliament. This will enable any entity to set up a unit in SEZs, including Trusts. This will help boost investments and create new export and job opportunities.

Investments of US$ 1.1 billion has been proposed since the ordinance was promulgated earlier this year.

Better facilities for employees: SEZ units allowed to create facilities/amenities like creche, gymnasium, cafeteria for their exclusive use as a measure towards ease of doing business.

Promoting Foreign Direct Investment

100 per cent FDI has been allowed under the automatic route for coal mining activities including associated processing infrastructure.
100 per cent FDI under automatic route has also been allowed in contract manufacturing.

Providing more flexibility and ease of operations to Single Brand Retail Trading (SBRT) entities. All procurements made from India shall be counted towards local sourcing, whether goods are sold in India or exported. Online retail trading permitted up to two years prior to opening brick and mortar stores.

Boost to Make in India in Government Procurement

Progressive amendments have been made to favour local suppliers like procurement up to Rs 50 lakh (US$ 0.07 million) has been exclusively reserved for local suppliers (except in certain cases). Only local suppliers eligible to bid for procurement of items, where there is sufficient local capacity and local competition, irrespective of purchase value.

Bicycle Development Council constituted for the benefit of Bicycle Industry

The Indian bicycle industry is the world's second largest bicycle industry. To develop the Bicycle industry and small part manufacturers towards global standards a Bicycle Development Council has been constituted.

National Institute of Design (Amendment) Act, 2019

Amendment to National Institute of Design (NID) Act was moved for consideration and passing in the Rajya Sabha on 6th August 2019 to confer Institute of National Importance status to the four new NIDs Rajya Sabha has passed the Bill. It will be introduced in the forthcoming session of the Lok Sabha for consideration and passing. The four new NIDs at Andhra Pradesh, Madhya Pradesh, Assam and Haryana to be declared as Institutions of National Importance on the lines of NID, Ahmedabad. NIDs, Madhya Pradesh and NID, Assam have commenced academic session of 2019-20 from 29th July 2019.

Establishment of the National Traders' Welfare Board (July 26th, 2019)

A long pending demand of traders has been fulfilled with the constitution of the Board to understand the issues and problems faced by traders and employees in their day to day business operations and for their welfare. The Board shall have a number of representatives from Traders' Associations as members.

Monday, December 16, 2019

MG Motor bullish on India, to invest Rs 3,000 crore more

A British automobile brand, Morris Garages (MG), which is now owned by SAIC of China, is planning to invest Rs 3,000 crore (US$ 429.25 million) more in the country and is positive about the growth Indian market, a company official said.
As of now, the MG Motor India has spent Rs 2,000 crore (US$ 286.16 million) in the country and begun manufacturing operations at its plant at Halol in Gujarat, the official said.

"We are committed to India and have started our journey in July this year. We have a long-term plan for the country and will make further investment of Rs 3,000 crore (US$ 429.25 million)," MG Motor India chief commercial officer Mr Gaurav Gupta said.

He further added that so far, the company has sold around 13,000 units of its internet SUV, MG Hector. Mr Gupta said that the company plan to launch an electric internet sport utility vehicle and will have a total of four models by July 2021, all in the SUV segment.

The company witnessed a good response from the customers, thus, had to raise its production levels from November onward, he said, adding that the car manufacturer would focus on the SUV segment as it is quickest growing and in tandem with the global trend.

He added that the company also aims on increasing its customer service centres and around 250 showroom-cum-workshops will be put in place by March 2020.

"In MG, we strive to attain for a balanced work force and diversity is core to the ethos of the company", Mr Gupta added.

Star Labelling Programme for "Solar Water Heater" Launched #SolarWaterHeater #Sukumarbalakrishnan

Bureau of Energy Efficiency (BEE), under the guidance of Ministry of Power, Government of India, organised the 29th National Energy Conservation Awards. Shri R. K. Singh, Minister of State (IC) for Power and New & Renewable Energy and Minister of State for Skill Development & Entrepreneurship was the chief guest on this occasion. This year, Energy Conservation is celebrated through a weeklong activity culminating on the National Energy Conservation Day i.e. 14th December at Vigyan Bhawan. The concluding event witnessed awards distribution to the winners from different industries and establishments, and the winners of National Painting Competition for students.

Shri R. K. Singh highlighted the importance of energy conservation in Country's sustainable development approach. He emphasised the need for taking measures in order to reduce CO2 emission so as to minimise adverse impact of climate change. The Power Minister lauded the outcome and efforts of BEE program and complimented the industry for making sincere efforts in implementing various schemes.

On the occasion, Star Labelling Programme for Solar Water Heater was launched, and a Handbook for Implementation of Provisions of Energy Conservation Act 2001 was released.

The event witnessed award presentations to 65 industries and institutions from various sectors for their excellent performance in achieving energy efficiency. Altogether 355 units and establishments across the country participated to save 10,566 Million units which is over Rs 5,000 crore (US$ 715.41 million). Under the National Level Painting Competition, total 26 students from two groups were awarded. The prize-winning paintings will be displayed in Govt. Offices.

On this occasion, Secretary, Ministry of Power said, "We celebrate NEC Day every year to recognise and celebrate the efforts towards energy conservation. We congratulate every award winner for their performance. We have launched Star Labelling Programme for Solar Water Heater to promote use of efficient appliances."

The event was organised with an aim to promote energy conservation among all the sectors of economy, followed by an award distribution ceremony for the industrial units &other establishments to encourage more actions in achieving efficient utilization and conservation of energy.
about the achievements in this area.

About BEE
BEE is a statutory body under Ministry of Power which is mandated to implement policy and programmes in energy efficiency and conservation. The objective of such initiatives is to reduce energy intensity in our country by optimizing energy demand and reduce emissions of greenhouse gases (GHG) which are responsible for global warming and climate change.

Ministry of Coal to Establish Sustainable Development Cell for Environmental Mitigation Measures #Coal #SDC #Sukumarbalakrishnan

The Ministry of Coal has decided to establish a 'Sustainable Development Cell' in order to promote environmentally sustainable coal mining in the country and address environmental concerns during the decommissioning or closure of mines. This move gains significance as the new private entities are now going to form a significant part of the future, a set of guidelines for proper rehabilitation of mines need to be evolved in tune with global best practices.

Role of Sustainable Development Cell:

The Sustainable Development cell (SDC) will advise, mentor , plan and monitor the mitigation measures taken by the coal companies for maximising the utilisation of available resources in a sustainable way, minimising the adverse impact of mining and mitigating it for further ecosystem services and will act as nodal point at Ministry of Coal level in this matter. This cell will also formulate the future policy framework for the environmental mitigation measures including the Mine closure Fund.

Tasks of the Cell:

The SDC will adopt a systemic approach, starting from collection of data, analysis of data, presentation of information, planning based on information; by domain experts, adoption of best practices, consultations, innovative thinking, site-specific approaches, knowledge sharing and dissemination and finally end with an aim to ease the lives of people and communities in general. All of the above will be done by executing following tasks on a planned way:

1. Land amelioration and afforestation:

In India approximately 2,550 sq Km areas is under different coal mines and there are also plans to bring more areas under it. These land masses required both extensive and intensive amelioration measures and will be carried out as per following procedure:

• Collection of all the baseline data/maps related to different coal mines like total mines/ block areas, OB dumps areas, water filled voids, reclaimed areas, unutilized areas, plantations etc., from various Coal companies. All the data/maps will be collated and analysed on a GIS based platform and different thematic information and maps will be prepared. These will be updated at regular intervals. All GIS based activities will be carried out with active participation of CMPDIL.
• To help Coal companies to identify areas where plantation projects could be taken up immediately, along with identification of various species of plants, suitable for specific regions to create large carbon sinks for climate change management.
• To Identify the activities to be taken up for creation of additional land suitable for plantation, stabilization of slope, soil treatment, creation of levelled land, de-watering etc., as per timeline under MCP.
• It also checks the possibility and plan for productive reuse of these lands for rehabilitation, integrated modern township, agriculture, horticulture, FCA compensatory land, renewable energy farms etc.

2. Air quality, emission and noise management:

• To advice coal companies for effective implementation of environmental mitigation measures (water sprinkling, dust suppression methods, noise barriers etc.) related to air and noise pollution generated due mine activities, heavy earth moving machines (HEMMs), transport of coal etc.
• It also works towards energy efficiency in the mining operation, noise and emission reduction in case of HEMMs.
• Analysis of Environment Management Plans (EMP) of different companies and will advise coal companies to making it more effective.

3. Mine water management:

• Collection of data regarding present quantity, quality, surface runoff, drainage of mine water, future availability of water collected in UG or OC coal mines etc., and to analyse it on a GIS based platform to prepare model Coal Mine Water Management Plans (CMWMP).
• The plan will suggest ways and also have innovative planning to storage, treatment and re-use of such water for drinking, irrigation, fisheries, tourism, industrial or any other sustainable purpose.

4. Sustainable Overburden Management:

• The cell will also check feasibility and suggest measures to reuse, recycle and rehabilitation of overburdened dumps in a sustainable manner.
• Will examine and plan out use of overburdened material for use in different infrastructure projects, earthen bunds etc.

5. Sustainable Mine Tourism:

• To explore and conceptualise a plan for the beautification & creation of eco parks in the reclaimed areas and which will also include water bodies etc., for re-creation activities and tourism purpose. It will also explore tourism potential and plan it out in few underground mines.

6. Planning and Monitoring:

• Analysis of Mine Closure Plans (MCP) of different companies and advise to make it more effective.
• To help Coal companies to finalize time-line for execution of different mitigation activities / projects in all mines in phased manner.
• Will also monitor effective utilization of Mine Closure Fund and Environment Budgets of Different Coal Companies.
• To formulate future guidelines for the mine closure plan, mine closure fund etc.

7. Policy, Research, Education, and Dissemination:

• Will hire experts/ institutions/ organisations to conduct specific studies for establishing a robust knowledge base.
• Will organise consultative meetings, workshops, field visits, exposure study tours etc., to enrich the knowledge base, known best global and ideas for environmental mitigation planning and monitoring.
• Will conduct regular workshop and seminar for the company level officials to educate them in new methods, technologies, approaches and also global practices.

Thus, the Sustainable Development Cell envisages to address the environment mitigation measures in a systemic manner and to provide a better environment to people working and residing in the vicinity of Mines.

Need to make rural enterprises an attractive career choice for youth- Vice President

The Vice President Shri M. Venkaiah Naidu today expressed the need to make rural enterprises an attractive career choice for both urban and rural youth in India. He also called for a sensitization programme to inform the youth about the opportunities available in rural India.

Addressing the 40th Foundation Day function of the Institute of Rural Management Anand (IRMA) today, he appealed to the students and teachers of the Institute to sensitize at least 10 youngsters in schools/colleges in their network and encourage them to explore possibilities in rural India. He termed this task as PSR (Personal Social Responsibility) for them.

Calling Gujarat as the 'janmabhoomi' and 'karma bhoomi' of great leaders such as Sardar Patel and Mahatma Gandhi, the Vice President called for making their vision of Gram Swaraj into a reality.

Institutions like IRMA have a unique role to play in this, he said.

Maintaining that India is on track to become a 5 trillion-dollar economy, Shri Naidu opined that rural India's economy will play an important role in this.

Therefore, massive transformation of rural economy is required by way of promoting rural entrepreneurship, Farmer Producer Companies (FPC)and through improvements in supply chain efficiency.

To enable this, he called for providing proper training and mentoring to turn villagers and farmers into successful entrepreneurs and innovators.
Reaffirming Gandhiji's vision of decentralized village level industries, he called for a renewed focus on agriculture and value addition to agri-products.

Citing the example of foreign brands selling tomato sauce and potato chips, the Vice President called for establishing agro processing industries at village level so that farmers get the right value of their produce.

Remembering Dr. Verghese Kurienas a great institution builder, Shri Naidu called for replication of Amul success story in other fields also, so that small and marginal farmers can reap the benefits of economies of scale in marketing.

The 'White Revolution' was achieved not by 'mass production' but 'production by masses', he said.

Shri Naidu highlighted that new technologies and programs such as 'Digital India' have opened up new business avenues in rural India by way of Digital Payments, e- commerce etc and have created a favourable ecosystem for rural digital transformation.

In this context, he called upon IRMA to create at least 1,000 start-ups in the rural areas over next two years. "Because IRMA professionals are uniquely positioned to be able to appreciate the realities of rural India and impart professional business management skills appropriate to the rural context", he said.

The Vice President said that there are great opportunities in the consumer space for traditional foods, crafts, eco-tourism in rural India. He called for better use of technology to realize this potential.

This unique coming together of the three legs of the economy- farm (agriculture production), manufacturing (primary food processing) & services (distribution, delivery)- can itself be a huge opportunity for the growth of the national economy, he said highlighting it's great socio- economic benefits for the nation.

Appreciating the women's role in India's White Revolution, he said that over 90 per cent of the contribution to the rural dairy economy comes from women but the overall contribution of women to the national GDP is much less at around 25 per cent. "We need to recognize the immense possibilities for women empowerment offered by rural organizations and supply chains. The dairy cooperative movement has amply demonstrated this." He said.

Shri Naidu also emphasized the need to conserve water to address the problem of water scarcity. He advocated 3Rs – Recycle, Reduce, Reuse - for effective water management and called for making water conservation a people's movement.

Maintaining that over per cent of India's population lives in its 6.4 lakh villages, Shri Naidu appreciated several initiatives taken by the government for betterment of rural lives such as - renewed focus on Pradhan Mantri Gram Sadak Yojana, near universal electrification under Saubhagya scheme, distribution of more than 8 crore LPG connections under Ujjawala scheme and commitment to provide every household with piped water supply (Har Ghar Jal).

Prior to the event, Shri Naidu visited National Dairy Development Board’s campus and was briefed on Amul's remarkable journey and various initiatives by NDDB such as - training conducted for farmers, initiatives on scientific animal nutrition, breed improvement and activities undertaken under the National Dairy Plan.

Shri Naidu also released a coffee table book on the 40 Years of IRMA.

Shri Bhupendrasinh Chudasama, Education Minister of Gujarat, Shri Mitesh Ramesh bhai Patel, MP (Lok Sabha), Shri Lalsinh Vadodia, MP (Rajya Sabha), Shri Dilip Rath, Chairman, IRMA, Prof. Hitesh V. Bhatt, Director, IRMA, Shri Kantibhai Chavda were among the dignitaries who graced the occasion.

"Dear Sisters and brothers,
I am very happy to be here among all of you on the 40th Foundation Day of IRMA.

I am happy to be in this great land that has been the 'janmabhoomi' and 'karma bhoomi' of many great men and women who shaped India's destiny.

Not far from here is the birthplace of SardarVallabhbhai Patel - the Iron man of India who successfully and peacefully merged the Princely states into the Indian Union. Our Father of Nation Mahatma Gandhi whose 150th birth anniversary is being celebrated this year was born here in 1869.
I pay my respects to these visionary leaders who have left behind a legacy we are all proud of.

Sisters and brothers,
Development of our villages was a subject very dear to the heart of Mahatma Gandhi who used to say that - "India's soul lives in villages."
He had also said - "If the village perishes, India will perish too."

SardarVallabhbhai Patel who himself was the son of a farmer, led peasants' movements in Kheda and Bardoli. Farmers' welfare was close to his heart as well.

I appreciate that IRMA, since its inception in 1979 has been working tirelessly to build an India that Sardar Patel and Mahatma Gandhi had dreamt of.

Dear sisters and brothers,
This institution is a testimony to the leadership and farsightedness of Dr. VergheseKurien who was a great institution builder.

Just before coming here, I have visited the NDDB campus. It is indeed a beautiful place with an inspiring story.

It was here that the 'White Revolution' was conceptualized and implemented. Thanks to the untiring efforts of Dr. Kurien and his team including the dairy farmers, India is currently the world’s largest producer of milk. The per capita milk availability in India has gone up from 120 gram per day in 1960 to 375 gram per day in 2018. This increase is despite our population rising by three times during the period.

Dear sisters and brothers,
When we talk of rural development, several things come to our mind such as rural roads, adequate electricity supply, availability of clean drinking water, sanitation etc.

I am happy to note that the Government under the leadership of Shri NarendraModi is taking active steps to address these issues in the true spirit of 'sabkasaath, sabkavikas'.

During last five years, nearly two lakh kilometers of new roads have been built across rural India under PradhanMantri Gram SadakYojana.
Now the government has decided to launch the 3rd Phase of this scheme. It involves upgradation of one lakh twenty-five thousand kilometres of rural roads in the coming five years. In this phase focus will be onthose roads that connect habitations with agricultural markets, schools and hospitals.

India has achieved landmarks in energy access with every willing rural household provided with an electricity connection under Saubhagya scheme. Only few households are left in four naxal affected districts.

More than 8 crore LPG connections have been released under Ujjawala scheme. This has brought the much-needed relief to the rural women who had to spend hours every day in collecting fuel wood.

Similarly, the Government is committed to provide HarGharJal (piped water supply) to all rural households by 2024 under the JalJeevan Mission. A new Jal Shakti Mantralaya, has been constituted for integrated and holistic water management.

Sisters and brothers,
Gandhiji was a staunch supporter of traditional crafts and agro-processing industries at village level.

In line with these Gandhian principals, the Government is implementing SFURTI scheme which promotes clusters of traditional industries with a focus on Bamboo, Honey and Khadi.100 such new clusters will be set up during 2019-20 enabling 50,000 artisans to join the economic value chain.

This year's Budget also provides for setting up of 80 Livelihood Business Incubators and 20 Technology Business incubators under ASPIRE scheme in 2019-20 to develop 75,000 skilled entrepreneurs in agro-rural industry sectors.

It is here, the role of institutes such as IRMA becomes important. Proper training and mentoring are a prerequisite to turn village- farmers into successful entrepreneurs and innovators.

We already have a big success story in Amul. The 'White Revolution' was achieved not by 'mass production' but 'production by masses'. This helped small and marginal farmers to reap the benefit of economies of scale in marketing.

If the Gandhian dream of decentralized village industries is to materialize, we'll need sufficient number of well-equipped professionals to manage such industries and institutions.

I am happy that over the last forty years, IRMA has been producing world class professionals who helped create & run numerous rural institutions through the dairy cooperative model.

Dear sisters and brothers,
There is great optimism about the New India within and outside the country.

India is on the track to become a 5 Trillion Dollar economy and contribution of rural India will be vital to achieve this target.

Farmers still constitute over 50 per cent of the Indian working population, but despite their hard work, agriculture's share in national GDP is only 15 per cent.

Our Prime Minister has given a call to double the farmers' income by the year 2022. If this has to be achieved, we need to adopt a multi-pronged approach. There has to be a renewed focus on agro-industries, cold storage, warehousing, food processing, dairy, poultry, fisheries and other non-farm avenues for generating income.

IRMA can play a big role in this massive transformation required in rural economy. There are numerous possibilities in this direction through supply chain efficiency improvements.

Replicating the dairy success story in a number of other value chains will present great opportunities for the nation.
The role of technology and innovative business models is also worth considering.

With the rise in numbers of smart phones in rural areas, and sustained push to towards a 'Digital India', farmers will have greater access to information relating to markets, prices etc.

These technologies have also already opened up new business avenues in rural India by way of Digital Payments, e-commerce etc.

Even look at the way how Dr. Kurien and his team had come out with the unique process for deriving milk powder from buffalo milk. This was the beginning of a successful revolution.

A similar revolution can be achieved if there can be a confluence of technology, supply chains, commerce and financing. This is going to revolutionise the way farmers earn their livelihood and deal with the markets and various stakeholders.

Full text of the speech

Dear sisters and brothers,
In order to deftly manage this unique and new reality of rural production and supply chain, we'll require quality of professionals- which institutions like IRMA can provide.

The role of entrepreneurship is also worth noting in this context. The overall support ecosystem and social ecosystem are much more favourable today than ever before for Start-Ups.

Today there are over 1,000 start ups in India in the food, agriculture and rural space. I urge you to plan for tapping into this potential. In the next couple of years, IRMA could create atleast 1,000 start-ups in the rural areas. It is only you who are uniquely positioned to be able to appreciate the realities of rural India and impart professional business management skills appropriate to the rural context.

There are great opportunities in the consumer space for foods, crafts, furniture, toys etc. coming from rural India. Re- discovering the benefits and niceties of traditional wisdom, we can not only preserve the tradition but transit it to a wider clientele. Consumers are increasingly wanting to engage with the producers, to understand the story behind the product and to contribute their small bit to nation building.

Imagine for instance a scenario where there are lakhs of micro rural enterprises and FPC (Farmer Producer Companies) producing a variety of food products through traditional recipes and on the other hand, there are lakhs of consumers looking at a fulfillment platform to service their needs for such products.

This unique coming together of the three legs of the economy- farm (agriculture production), manufacturing (primary food processing) & services (distribution, delivery)- can itself be a huge opportunity for the growth of the national economy on the one hand and a great mobiliser of socio- economic development of rural India at the same time.

Sisters and brothers,
To make India's growth story inclusive, we need to address the regional disparities in development.

We need to focus on certain areas that are still way behind on many parameters of development but offer numerous possibilities based on ethnic food, arts and crafts, eco-tourism. These strengths need to be identified and leveraged through a blend of digital technologies, e-commerce and innovative business models.

Also, on another note, we need to appreciate the fact that over 90 per cent of the contribution to the rural dairy economy comes from women. But the overall contribution of women to the national GDP is much less at around 25 per cent.

We need to recognize the immense possibilities for women empowerment offered by rural organizations and supply chains. The dairy cooperative movement has amply demonstrated this.

It is also important to make rural enterprises an attractive career choice for both urban and rural youth in India. A sensitization programme to inform the youth about these opportunities is the need of the hour.

IRMA can go a little beyond its current mandate to kindle this enthusiasm and creativity amongst the youth of the country.

As students and teachers of this great institution, I also appeal to each one of you to take this up as a task for yourself- as some kind of PSR (Personal Social Responsibility) - as against CSR (Corporate Social Responsibility)- to sensitize at least 10 youngsters in school in your network- to encourage younger generation to understand the realities and explore the possibilities in rural India.

To conclude, let me compliment IRMA on completing 40 years of purposeful service to the rural population of our country.I applaud the efforts being made by the Chairman and his team of professionals who are positioning this premier institution as the front ranking, forward looking institute.

You have an excellent track record. You have a great challenge ahead.

You have a unique opportunity of translating Mahatma Gandhi's vision of gram swaraj into a reality and positively impact India's 6.4 lakh villages and its 68.8 percent rural population.

Once again, I wish all of you the very best in your noble endeavour.
Jai Hind!"

India's services exports grew by over 5 per cent to USD 17.70 billion in October: RBI data #RBI #Sukumarbalakrishnan

According to the data from Reserve Bank of India (RBI), India's services exports increased by 5.25 per cent to US$ 17.70 billion in October, while imports stayed nearly flat at US$ 10.86 billion. In October 2018, the services exports or receipts stood at US$ 16.82 billion, whereas the imports or payments were worth US$ 10.10 billion.

The exports of services in September were worth US$ 17.54 billion and the imports were of the order of US$ 11.10 billion, as per the RBI data on India's International Trade in Services.

India is one of the main economies contributing to the world services export industry. The contribution of the services sector is about 55 per cent in India's gross domestic product.

The data for the latest month comes with a gap of 45 days. The data published by the RBI is provisional and undergoes revision when the Balance of Payments data is released on a quarterly basis.