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Cold Storage, Company News, Finance, India

Ecozen will leverage Nuveen’s experience in scaling impact-oriented businesses to augment its commercial offering.

Ecozen has raised $25 million of combined equity and debt capital.  The Series C equity portion was led by Nuveen and Dare Ventures (Coromandel International), with participation from Export-Import Bank of India (India EXIM Bank), and existing investors Caspian and Hivos-Triodos Fonds (managed by Triodos Investment Management). Omnivore and IFA, early investors in Ecozen, achieved partial exits in this round. The debt portion was provided by Maanaveeya Development and Finance, Oxyzo, Northern Arc group, HDFC Bank and Axis Bank.

Ecozen is on an accelerated growth path both domestically and internationally, where it aims to capitalise on a slate of successful projects by establishing itself as a trusted agri value chain participant in Africa and Southeast Asia. Ecozen will leverage Nuveen’s experience in scaling impact-oriented businesses to augment its commercial offering, and the funding from India Exim Bank will support the Company towards its export-related activities.

The Company is also looking beyond the agricultural sector to accelerate the broader energy transition through its deeptech expertise in energy storage, motor controls, IoT and analytics. The company estimates the market size for its innovative technology stacks in India to grow to $25 billion by 2025.

Headquartered in Pune, India, Ecozen was founded by three IIT Kharagpur alumni, Devendra Gupta, Prateek Singhal and Vivek Pandey. The company has helped generate over 1 billion units of clean energy (kWh), saved over 20,000 metric tons of food loss and reduced over 1 million tons of GHG emissions.

“We are thrilled to successfully close this round and are excited to bring Nuveen, India Exim Bank, as well as other new investors, on board,” said Devendra Gupta, CEO and Co-Founder at Ecozen. “As we expand beyond India and agriculture, we will continue to focus on profitable growth and sustainable technology solutions. Ecozen will aggressively expand production capacity and product range.”

“Nuveen seeks out companies that mitigate climate change, build resilience to its impacts, and provide high quality, affordable products and services to the low-income consumer segment,” said Rekha Unnithan, Managing Director and Co-Head of Private Equity Impact Investing at Nuveen.

Ecozen will leverage Nuveen’s experience in scaling

Company News, North America, Sustainability

Truterra’s 2022 carbon program will result in more than $4.5 million in payments to participating farmers for nearly 237,000 tonnes of carbon stored in soils.

Truterra, LLC, the sustainability business of Land O’Lakes, Inc., one of America’s largest farmer-owned cooperatives, announced the launch of Truterra™ sustainability services, a comprehensive suite of agronomic and financial resources designed to meet farmers where they are at every stage of their sustainability journey. This launch is part of Truterra’s broader effort to work with more farmers to encourage adoption of regenerative farming practices by working to remove one of the biggest barriers to practice change – fear of lost profitability and productivity of their acres – and develop new offerings that best fit farmers’ needs and support their transitions to more sustainable practices.

Truterra sustainability services focuses on working with farmers to plan, make and maintain sustainability practice changes, including:

Making a plan: The Truterra™ soil health assessment and plan sets quantifiable soil health baselines and provides custom recommendations to improve overall soil health and resiliency. The soil health assessment brings much-needed locally relevant context to soil health measures for farmers to understand more about their soil health status, potential for improvement and to help create a roadmap toward improved soil health. After a successful 2022 pilot across several states including Iowa, Kansas and Missouri, Truterra is expanding the soil health assessment to Illinois, Indiana, Michigan, Minnesota, Nebraska and Wisconsin. The soil health assessment offering builds on the robust conservation agronomy support already being delivered through Truterra and Winfield United networks of trusted local ag retail advisors and its farmer support team.

Creating a pathway to make change: Truterra’s market access program is an on-ramp for eligible farmers considering adopting new regenerative practices on their fields. Farmers can potentially receive $2/acre to begin building the baseline data required to participate in future carbon program opportunities. In addition, farmers have the opportunity to participate in the WinField United Advanced Acre® Rx prescription plan1 – a component of which provides a warranty to offset part of the risk of this practice change implementation.

Being rewarded for transition: For fields that have made eligible practice changes within the last four years, qualified farmers can potentially earn between $15-$30 per tonne of new carbon stored through Truterra’s 2023 carbon program which is now open for enrolment through February 28. Truterra offers farmers earning potential by paying based on results – carbon stored – rather than a set payment per acre.

Truterra is also working to develop additional opportunities for farmers to be rewarded for their stewardship, such as the USDA-funded Climate SMART (Scaling Mechanisms for Agriculture’s Regenerative Transformation) project to scale production and demand for climate-smart corn, soybean, wheat, cotton and milk production. 

“A journey to sustainability is never a straight line. Working through the farmer cooperative system enables us to take a comprehensive view and deploy targeted support to directly address what farmers and retailers need to best manage risk and maximise natural resources to generate a potential return on investment,” said Tom Ryan, president, Truterra. “Through the launch of our sustainability services approach, Truterra is excited to continue working with ag retailers and farmers in an effort to address cost, risk and knowledge barriers to regenerative agriculture practice adoption. In turn, we can help position them as leaders in emerging market opportunities for carbon removals, climate-smart commodities and other ways to be rewarded for their stewardship while future-proofing their businesses for the long-term.”

Truterra’s 2022 carbon program is expected to pay farmers more than $4.5 million total in cash payments for nearly 237,000 tonnes of carbon stored in soils. The program delivered 220 participating farmers an average payment per participating farmer of $24,842. Full results for the 2022 program will be released in the coming months once all payments have been finalised.

Truterra’s sustainability services are rooted in the Land O’Lakes cooperative network, which touches about 50 percent of all U.S. harvested acres, and work through its agricultural retailer network of trusted advisors to provide farmers better agronomic insights to continuously improve their operations. With Truterra’s work in supporting farmers transition to sustainable practices, WinField United’s scientific approach to crop management and the expertise of local ag retailers, the Land O’Lakes cooperative system is working to help mitigate the risk associated with converting to more climate-smart practices.

Interested farmers can learn more and find the program that is right for them at Truterraag.com/enroll or contact their local Truterra retail partner.

Agreement is required and conditions, restrictions and service fees apply. Percentage goals for the crops’ Approved Yield range from 95–105 percent for corn and 95–100 percent for soybeans. Only available to corn and soybean farmers who enrol a minimum of 250 acres of an individual crop in the program.

Truterra's 2022 carbon program will result in

Agrotech, Animal Health, Company News, India, People

In 2016, Rajiv was awarded the ‘Outstanding Entrepreneur of the Year’ by the Ahmedabad Management Association (AMA)

Rajiv Gandhi, Founder, CEO & Managing Director of Hester Biosciences has been appointed as Chairman FICCI Gujarat State Council. Rajiv is a member of the governing council for Ahmedabad Management Association (AMA), Chimanbhai Patel Institute, Ahmedabad, Kamdhenu University, Gandhinagar, Sardar Vallabhbhai National Institute of Technology, Surat and National Advisory Committee for Animal Husbandry and Dairying Sector, constituted by The Government of India.

Rajiv Gandhi, born 11 July 1962, is a first-generation entrepreneur. A B.com graduate from Bombay University, he started a proprietary trading company in 1985 in Mumbai for distributing animal health products with no experience or knowledge in animal health business. He then transformed that proprietary business into Asia’s largest single location animal vaccine and health products manufacturing company based in Ahmedabad under the name of Hester Biosciences. Hester is now a 500 people-strong organisation which recorded a turnover of Rs 219.35 crores in the financial year 2021-22, earning a net profit of Rs 39.52 crores.

While commenting on the appointment, Rajiv Gandhi, Founder, CEO & Managing Director of Hester Biosciences said, “It is both, an honor as well as a responsibility to serve and strengthen FICCI in Gujarat. This is a time of great global curiosity towards India. Gujarat being an economic powerhouse, will play a big role in further accelerating India’s growth. My endeavor will be to support wealth creators especially young entrepreneurs. My endeavor is to also continue to work on the path set by the immediate past FICCI Gujarat State Council Chairperson Geeta Goradia as well as work under the leadership of FICCI President Subhrakant Panda towards the objectives of FICCI.”

Hester subsequently expanded its animal vaccine manufacturing activities by setting up plants in Nepal and in Tanzania respectively. In 2016, Rajiv was awarded the ‘Outstanding Entrepreneur of the Year’ by the Ahmedabad Management Association (AMA).

In 2016, Rajiv was awarded the ‘Outstanding

Agro chems – Chemicals, AgroPolicy, Company News, India

Agrochemicals are excluded from the PLI scheme that is resulting in delays in new investments.

Vimal Kulshrestha, President Crop Protection, Hikal Ltd expressed his views on expectations from Union Budget 23 which will be presented on February 1 in the parliament.

“The Indian crop protection industry is a major contributor to the country’s agriculture sector, providing essential products and services to boost and protect agricultural produce. However, the industry has been facing a number of challenges in recent years, including increased competition from cheaper imports, regulatory hurdles, and a lack of investment in research and development. Agrochemicals are excluded from the PLI scheme that is resulting in delays in new investments. In light of these challenges, the industry is hoping for positive announcements of schemes, regulatory and tax concessions that will support the growth of domestic agrochemical manufacturers. We think that government should restrict /regulate the import of agrochemical formulations into India, which can be manufactured in India from the locally manufactured agro actives and enough capacity is available with Indian manufacturers. This will benefit India by reducing its foreign exchange usage. It will also boost the Government’s ‘Make in India’ efforts. Indian agrochemical industry is poised to make domestic products that can be imported to the world to contribute to the country’s export economy.

Another key area of concern is the need for increased investment in research and development. The industry is looking for measures that will encourage investment in R&D to create new products and improve existing ones. The government’s support in this area will help the industry to stay competitive. Overall, the crop protection chemical industry in India is hoping for a budget that will support the growth and development of the sector, addressing the challenges it currently faces and providing the necessary resources to help it succeed in the future.”

Agrochemicals are excluded from the PLI scheme

AgroPolicy, Foodgrains, India

The key highlights from the fair included more than 250 stalls, millet and organic food court, buyer seller meets, international expo and conference, consumer connect and farmers workshop.

Millets & Organics 2023 – International Trade Fair kicks off in Thripuravasini, Bengaluru. The event was divided in multiple segments including Exhibition, Pavilion, B2B networking and much more. The exhibition segment of the event was inaugurated by Basavaraj Bommai, Chief Minister, Government of Karnataka. Followed by the inaugural ceremony, Pralhad Joshi, Minister of Parliamentary Affairs, Coal & Mines, inaugurated the Karnataka Pavilion. Union Minister of State, Ministry of Agriculture & Farmers Welfare, Kailash Choudhary also graced the event and inaugurated the B2B networking part.

Some of the key highlights from the fair included more than 250 stalls, millet and organic food court, buyer seller meets, international expo and conference, consumer connect, farmers workshop, cooking, drawing and quiz competitions, demonstration of millet recipes, among others. The key products on display during the fair were millets, organics and natural range, certified wild harvest produce, millet processing machinery, organic cereals and pulses, bio-degradable packaging, eco-friendly products, etc.

The trade fair is a platform for farmers, farmer groups, domestic and international companies, central and state institutions in organic and millet sector to connect and explore opportunities in agriculture, horticulture, processing, machinery and agri-technology.

The inauguration of the international conference was done by Shobha Karandlaje, Union Minister of State, Ministry of Agriculture & Farmers Welfare. In her address to the farmers and other participants, she called for cultivation of quality millets with optimal use of pesticides that can be taken to international platform which would help them in gaining competitive prices for their produce. The Government’s commitment to increase farmers’ income can be seen through significant rise, witnessed in agriculture exports.

The session started with a welcome address by Secretary to Department of Agriculture, Government of Karnataka, followed by an introductory Speech by BC Patil, Minister for Agriculture, Government of Karnataka. Ashwatha Narayana CN Minister for Higher Education, IT & BT and Science & Technology, Skill Development, Entrepreneurship and Livelihood, Government of Karnataka launched the SEEMI Brand Products and Millets Calendar 2023 developed by Sahaja Samrudha Organisation.

Kailash Choudhary, Union Minister of State, Ministry of Agriculture & Farmers Welfare in his address highlighted that the budget allocation towards farmers has increased 6 times under the leadership of PM Narendra Modi. Additionally, he also said that the country is focussed on developing 10,000 FPOs and aiding farmers in setting up sorting and grading units, along with production of value-added products which are export ready. He emphasised that consumption of millets is the solution to malnutrition, which will also benefit farmers to get better livelihood and increased income.

Shubha Thakur, JS (Crops), Ministry of Agriculture & Farmers’ Welfare appreciated the model of Karnataka State Government in millets promotion. She said, “Karnataka has been distributing millet grains through the PDS system, organising district-wise kisan mela. Further to that, farmers in Karnataka have helped boost food production, especially during the covid pandemic, by cultivating millets.” She also added that, in the coming year, National Food Security Mission (NFSM) programme will be reconstituted to the National Food and Nutrition Security Mission, paving the way for millets to reach the global forum.

The key highlights from the fair included

AgroPolicy, Company News, India

Centre’s multi-state cooperative society for exporting products of cooperatives will have an authorised share capital of Rs 2,000 crore for the trading of goods and services in the cooperative sector.

Indian Farmers Fertiliser Cooperative (IFFCO), Krishak Bharti Cooperative (Kribhco), National Agricultural Cooperative Marketing Federation (NAFED), Gujarat Cooperative Milk Marketing Federation (GCMMF), and National Cooperative Development Corporation (NCDC) will jointly promote a newly announced national-level export cooperative society with an authorised share capital of Rs 2,000 crore for the trading of goods and services in the cooperative sector.

 Last week, the Cabinet Committee on Economic Affairs (CCEA) approved a proposal to establish three new national-level multi-state cooperative societies to promote organic products, seeds and exports. A national-level cooperative organic society, cooperative seed society and cooperative export society will be registered under the Multi-State Cooperative Societies (MSCS) Act, 2002.

The Centre’s new multi-state cooperative society for exporting products of cooperatives will have an authorised share capital of Rs 2,000 crore and an initial paid-up capital of Rs 500 crore contributed by five such organisations.

The society will focus on exporting the surpluses of the cooperative sector, scout for markets, promote products made by cooperatives in the global arena, and help in increasing their demand globally.

The body will provide institutional support for aggregating an exportable surplus, working capital, logistics, technical know-how, and training. It will provide all back-end support, which includes procurement, storage, processing, marketing, branding, labelling, packaging, certification, research and development and trading to members for boosting the export potential of their products.

Centre’s multi-state cooperative society for exporting products

Agri Genomics, Animal Health, India

B N Tripathi, Deputy Director General (Animal Sciences), ICAR, and the National Coordinator, Vice-chaired the Session and also act as Rapporteur.

In the recently concluded 12th Session of the Intergovernmental Technical Working Group (ITWG) on Animal Genetic Resources (AnGR) at Rome, India was elected as Vice-chair and represented Asia & Pacific region. B N Tripathi, Deputy Director General (Animal Sciences), ICAR, and the National Coordinator, Vice-chaired the Session and also act as Rapporteur.

The Working Group was established by the FAO’s Commission on Genetic Resources for Food and Agriculture (CGRFA), functions to review technical issues; advise and make recommendations to the Commission and further implement the Commission’s programme related to AnGR at the global level. 

In the 12th Session of ITWG, implementation of the Global Plan of Action for Animal Genetic Resources, monitoring of AnGR diversity and preparing the 3rd Country Report were reviewed.  Further agenda points on the role of microorganisms relevant to ruminant digestion, the role of genetic resources in mitigating and adapting to climate change; access and benefit-sharing for AnGR; digital sequence information and potential implications for the conservation and sustainable use of genetic resources were discussed.

Earlier to the ITWG Session, the Global National Coordinators’ Workshop was held at FAO Head Quarter. In the Workshop, B N Tripathi shared the country’s experience in updating data in Domestic Animal Diversity – Information System (DAD-IS) and presented a framework for cataloguing native populations including breed registration, notification system etc. National priorities for germplasm cryopreservation and documenting non-descript AnGR to fulfil SDG indicators were appreciated by the members.

B N Tripathi, Deputy Director General (Animal

Company News, North America, Sustainability

Kellogg ‘s InGrained helped farmers implement climate-smart irrigation practices that achieved a reduction of more than 1,600 metric tons of greenhouse gases.

Kellogg ‘s InGrained™, a five-year partnership with Lower Mississippi River Basin rice farmers to help reduce their climate impact, is reporting early positive results. During the pilot year of the program, InGrained helped farmers implement climate-smart irrigation practices that achieved a reduction of more than 1,600 metric tons of greenhouse gases1 – the equivalent of taking more Kellogg piloted the program in Northeast Louisiana in collaboration with leading agricultural greenhouse gas measurement firm Regrow Ag, rice producers, Kellogg supplier Kennedy Rice Mill LLC and agribusiness firm Syngenta. 

Rice production emits several greenhouse gases, most significantly, methane. Methane contributes approximately 1.5 percent of total greenhouse gas emissions3 and is 25 times more potent than carbon dioxide.

“Not only are we helping farmers implement new practices on their farms, but farmers are telling us that just as importantly, the quality of their rice was not affected by the adjusted irrigation practices,” said Stacey Shaw, Syngenta’s Senior Sustainability Lead. 

Much of the rice sourced from the Louisiana River Basin is used in iconic foods like Kellogg’s® Rice Krispies® cereal and Kellogg’s® Rice Krispies Treats®. 

“Kellogg’s™ Better Days environmental, social and governance (ESG) strategy is committed to supporting 1 million farmers and reducing Scope 3 GHG emissions across our value chain by 15 percent by the end of 2030,” said Janelle Meyers, Kellogg Company’s Chief Sustainability Officer. “Programs like Kellogg’s InGrained™ contribute to this ambitious goal, create positive impacts on the planet and support the livelihoods of farmers who grow the rice for some of our most iconic foods.”

Kellogg and its InGrained partners are making adjustments as they transition into the second year of the program, while ensuring both financial and technical support continue to help farmers with these new practices. Kellogg is also exploring expanding the program to include various regions with different weather patterns and soil types to determine if similar positive impacts are found.  

Kellogg 's InGrained helped farmers implement

Agro Universities, India, Seeds

 The unit has increased the overall seed production from 4000 quintal to 10,000 quintal to fulfil the gap of farmers demand of seeds.

The newly built “Pusa Seed Sales Counter” at Seed Production Unit of ICAR-Indian Agricultural Research Institute, Pusa, New Delhi was inaugurated in the august presence of Dr. Ashok K. Singh, Director & Vice Chancellor, IARI; Dr D.K. Yadava, Additional Director General (Seeds), ICAR; Dr. R.N. Padaria, Joint Director (Extension), IARI; Dr V. Chinnaswami, Joint Director (Research), IARI and other esteemed dignitaries, scientist and progressive farmers of the country. A farmer centric discussion between farmers and scientists/officials of IARI was also conveyed under the chairmanship of Dr Ashok K. Singh, Director & Vice Chancellor, IARI regarding the issues and future prospects in efficient seed production system during the programme.

Dr Gyanendra Singh, Incharge, Seed Production Unit of IARI welcomed the delegates and informed the gathering about maiden efforts of this unit in increasing the overall seed production from 4000 quintal to 10,000 quintal and fulfilling the gap of farmers demand of seeds. Dr D.K. Yadava, ADG (Seeds), ICAR appreciated the role of IARI in varietal development, maintenance and quality assurance which impacted the Pusa varieties in the country in increasing farmers income and sustainable livelihood.

Need based quality seed production and their timely supply among farmers and faster replacement with newer highly productive varieties are being done by the institute, Dr R.N. Padaria, Joint Director (Extension), IARI said.

Dr V. Chinnaswami, Joint Director (Research), IARI expressed their vision and emphasized to connect FPOs with IARI seed production unit and also to publish success story of seed producing farmers of the country.

At the end of the programme, Dr Ashok K. Singh, Hon’ble Director & Vice Chancellor, IARI appreciated farmers for their continuous association with Seed Production Unit of IARI for quality seed production. He enlightened the audience and visioned above the future strategies of the institute in the area of increasing total seed production, on field / mandi supply of the seeds and online booking of the seeds.

 The unit has increased the overall seed

Agro Universities, Company News, India, R&D

Bayer’s Medha programme will support 125 research scholars through monthly financial assistance of Rs 20,000 and Rs 40,000

 Bayer in collaboration with Bhubaneshwar City Knowledge Innovation Cluster Foundation (BCKIC), an initiative by the office of the Principal Scientific Adviser (PSA) to the Government of India, has launched a unique fellowship programme ‘Medha’, exclusively for students from the economically weaker sections. Under this fellowship, Bayer will support 125 research scholars in the field of agriculture and life sciences. The initiative will provide monthly financial assistance of Rs 20,000 and Rs 40,000 to Master’s and Ph.D. students for a period of 2-3 years, respectively. In line with Bayer’s commitment to bridging the education finance gap, the company has pledged ₹100 million to support researchers in the field of Life-Sciences.

The Medha fellowship combines annual financial assistance with the opportunity of receiving mentorship under Bayer’s employees as well as industry experts. The students will also get an opportunity to visit Bayer’s research labs and interact with industry experts, to gain exposure and build their knowledge base. The fellowship will be provided for two years to the master’s students and three years to the Ph.D. students. The target of the fellowship is to enable the fellows to achieve their short and long-term academic and professional goals. The fellowship programme is being implemented through Bayer Foundation India.

‘Medha’ seeks to benefit students from lower-income families, who are facing financial constraints to fund their education. To encourage applications from women students and students with disabilities, Medha provides 60 per cent reservation for women candidates and an additional 10% reservation for persons with disabilities (PWD). Students enrolled in 1st year Master’s/Ph.D. can apply for the fellowship.

D Narain, President, Bayer South Asia, and Global Head of Smallholder Farming said, “As India increasingly becomes a knowledge and innovation hub for the rest of the world, we are thrilled to be supporting the future of young scholars who are shaping our tomorrow through impactful research in the areas of Life Sciences. At Bayer, we are committed to supporting education, research, and innovation, and providing inclusive opportunities for all sections of society. Through ‘Medha’ fellowships, we are extending our support towards students from economically weaker sections and women scholars, encouraging and supporting them to play an active part in nation-building.”

“India is seeing several Industries support Research and Innovation. Bayer’s opportunity for researchers and academicians is an example of an unconditional focus on development of high-quality scientific human resources. This enables the best brains to learn today and contribute tomorrow to Nation’s social impact”, said Dr Sapna Poti, Director Strategic Alliances, office of the Principal Scientific Adviser, Govt. of India.

Bayer’s Medha programme will support 125 research

Agro chems – Chemicals, Agrotech, India, R&D

 The company plans for selling the product as Technical and Bulk formulation (10% SC) to renowned Indian Agrochemical companies.

Central Insecticide Board and Registration Committee has approved the application of Mahamaya Lifesciences Pvt. Ltd. for the registration of Bispyribac Sodium Technical under section 9(3) in its 442nd meeting.

The Bispyribac sodium is a systemic herbicide that moves throughout the plant tissue and works by interfering with production of a plant enzyme necessary for growth, acetolactate synthase (ALS). The product is most commonly used broad spectrum post emergent Herbicide in India for control of different types of grasses, sedges and broadleaf weeds in Transplanted, Direct seeded paddy and Rice Nursery.

Mahamaya Lifesciences plans for selling the product as Technical and Bulk formulation (10% SC) to renowned Indian Agrochemical companies.  Mahamaya has setup a SC formulation plant to meet this requirement with 3000 L per day production capacity.

Besides this Mahamaya is also launching its own Brand ″GEHENA″ to directly meet the farmer’s level requirement in major Paddy growing states. Currently Mahamaya has brand presence in the states of Punjab, UP, Haryana, Rajasthan, Gujarat and Maharashtra with more than 500 distributors. Mahamaya expects to boost their business by 20 per cent with the introduction of this product.

 The company plans for selling the product

Agro Universities, India, Packaging & Labelling, R&D

The institute has transferred the two technologies to a reputed packaging company under a licensed agreement.

Researchers of Indian Institute of Technology (IIT) Roorkee and Afflatus Gravure at Noida have developed an environment friendly technology for flexible printing. The institute has transferred the two technologies to a reputed packaging company under a licensed agreement signed in presence of Prof K K Pant, Director, IIT Roorkee and other officials.

The technology is useful in the area of flexible packaging and also serving as a sustainable solution. The technology for which a patent has been filed has been developed under a project funded by ‘Uchchatar Avishkar Yojana’ programme of Ministry of Education, Ministry of Environment, Forest and Climate Change, Government of India. The objective of the project was to develop a highly sustainable, environment friendly and cost-effective printing solution.

The team of researchers at IIT Roorkee have developed the water-based solution to meet the challenge of reducing carbon footprint and volatile organic compounds (VOCs) to promote green solutions which will be the benchmark for green manufacturing systems in printing applications leading towards an environment friendly solution and will be a step towards the development of a sustainable society.

Prof. Kamal K. Pant, Director, IIT Roorkee, highlighted,” Technologies that lead towards the development of a sustainable society remains most demanding in present scenario. The development of water-based ink by IIT Roorkee in collaboration with Afflatus contributes significantly towards the research in the areas of flexi packaging, printing operations.”

The institute has transferred the two technologies

Finance, India, Logistics, Supply Chain

Funds will be used to expand the terminal’s container handling capacity and attract vessels operating on important international shipping lanes.

The Asian Development Bank (ADB) and Nhava Sheva Freeport Terminal Private Limited (NSFTPL) signed a $131 million loan to upgrade the Jawaharlal Nehru Port Container Terminal located in Navi Mumbai Maharashtra to enhance international trade in India through efficient, transparent, and state-of-the-art logistics infrastructure.

The financing package comprises $61.4 million from ADB’s ordinary capital resources and $69.6 million from Leading Asia’s Private Infrastructure Fund (LEAP) administered by ADB. The funds will be used to upgrade existing berths and yards and install additional energy efficient equipment such as electric quay cranes. These upgrades will expand the terminal’s container handling capacity and attract vessels operating on important international shipping lanes.

NSFTPL is a special purpose vehicle jointly owned by J M Baxi Ports and Logistics Limited (JMBPL) and CMA Terminals.

“Global trade and supply chains are vulnerable to shocks, and enhancing countries’ capacity for trade is critical to the region’s recovery from COVID-19 and its ongoing prosperity. Long-term financial support from ADB can boost economic competitiveness in India by developing world-class mega ports and boosting the efficiency of containerized cargo terminal operations”, said  Ashok Lavasa, ADB Vice-President for Private Sector Operations and Public–Private Partnerships

“We are absolutely delighted to sign the Financing Agreement with ADB, which is the largest loan agreement signed by us so far, and we appreciate ADB’s commitment and agility in bringing this deal to a smooth closure in record time,” said Dhruv Kotak, NSFTPL Board member and JMBPL Managing Director. “Nhava Sheva Freeport Terminal is a key terminal for the country and this deal underscores India’s potential in becoming a $10 trillion economy by 2035. We are proud to have ADB support us in our endeavor to make international trade seamless, and this partnership is a testimony of our shared value system of the highest level of governance, transparency, and compliance” he added.

Funds will be used to expand the

AgroPolicy, Finance, India

Under AIF Rs 1 lakh crore is to be disbursed by financial year 2025-26 and the interest subvention and credit guarantee assistance will be given till the year 2032-33.

Within two-and-a-half years of the implementation of the Agriculture Infrastructure Fund (AIF), the scheme has mobilized more than Rs 30,000 crore for projects in the agriculture infrastructure sector with a sanctioned amount of Rs 15,000 crore under AIF. With support of 3 per cent interest subvention, credit guarantee support through CGTMSE for loan of up to Rs 2 crore and facility of convergence with other Central and State Govt. Scheme, AIF is providing all around financial support to the farmers, agri-entrepreneurs, farmer groups like Farmer Producer Organisations (FPOs), Self Help Groups (SHGs),  Joint Liability Groups (JLGs) etc. and many others to create post-harvest management infrastructure and build community farming asset throughout the country.

Agriculture Infra Fund (AIF) is a financing facility launched on 8th July 2020 under the visionary guidance of the Prime Minister Narendra Modi, for creation of post-harvest management infrastructure and community farm assets. Under this scheme, Rs 1 lakh crore is to be disbursed by financial year 2025-26 and the interest subvention and credit guarantee assistance will be given till the year 2032-33.

Under AIF Rs 1 lakh crore is