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Business Economy


TPCI inks MoU with MCCI for promotion of Indusfood event

New Delhi, Aug 7 (UNI) Apex trade and investment promotion organization, Trade Promotion Council of India (TPCI) , on Tuesday inked a Memorandum of Understanding (MoU) with Moscow Chamber of Commerce and Industry (MCCI) for joint cooperation in promotion of Indusfood— a mega show in line with other global food events.
TPCI Chairman Mohit Singla signed the MoU with MCCI Head of International Cooperation Yuri N. Morozov.
Later an event for promotion of the Indusfood Show was also organized at the Indian embassy in Moscow, where several senior officials, including officials of Indian embassy, and stake holders in food and beverage industry participated.
Indusfood is an annual export promotion event organized in India with the support of Department of Commerce, where Indian Food & Beverage Manufacturers and Exporters get a chance to meet and interact with buyers from across the world.
India will host the Indusfood on January 14-15 at Greater Noida(NCR) next year.
The event provides vital platform for global food buyers to source, network and connect with Indian Food & Beverage industry giving them a large and diversified choice.
Billed as the World’s Food Supermarket, Indusfood is India’s official, export focused F&B Trade Fair showcasing the country’s best line-up of food and agri products to global buyers.
Indusfood 2018 edition, held in January this year, saw more than $650 million worth on- spot business deals, from 43 countries.
Organized jointly by TPCI and Department of Commerce, Ministry of Commerce and Industry, the 2019 edition of Indusfood is slated to be much bigger with more than 600 global buyers and over 500 quality Indian food suppliers participating in it, a TPCI statement said.
India is now a dominant global player in the modern food trade. It has the pride of being the ‘Land of Origin’ of an assortment of food crops and processed products that have a significant impact on the global demand and supply.
India is increasingly becoming a growing market to supply raw material to the world, in particular the agricultural products and those related to the food processing sector. A case in point is the latest decision by China to purchase basmati rice from India.
The country is the top global producer of meat, milk, castor seeds, sesame, mango, banana, chickpeas and is among the top producers globally for rice, wheat, sugarcane, tea, spices, onion, potatoes and many others.
With the new agri-export policy, the Indian F&B export is expected to grow from $ 32 billion to $ 70 billion in next couple of years.
UNI JPG SHK2042
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CEAT Limited launches second Truck Service Hub in AP

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Govt withdraws enhanced surcharge on tax payable on transfer of certain assets

Govt withdraws enhanced surcharge on tax payable on transfer of certain assets

24 Aug 2019 | 3:46 PM

New Delhi, Aug 24 (UNI) Tax payable on gains arising from the transfer of derivatives (Future & options) by foreign portfolio investment (FPI) which are liable to special rate of tax under section 115AD of the Act will be exempted from the levy of the enhanced surcharge, government said on Saturday.

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Bullion Market Closing rates

24 Aug 2019 | 3:12 PM

Chennai, Aug 24 (UNI) Following is the bullion markets
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BUSINESS-KERALA-RUBBER CLOSING

24 Aug 2019 | 2:46 PM

Kottayam, Aug 24 (UNI) Following were the rubber rates announced
by the Rubber Board here today per quintal
Kottayam
RSS FOUR 14000
RSS FIVE 13600
Kochi
RSS FOUR 14000
RSS FIVE 13600.

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Kozhikode Coir Market

24 Aug 2019 | 2:44 PM

Kozhikode, Aug 24 (UNI) Following were the rates in the
Kozhikode Coir Market today per quintal.

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