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In a video conference with the state chief ministers, Tomar asked state governments to create a database for the state using the federated farmer database prepared by the central government and allow linkage to the state land record database.

The Centre will increase the farmer database from the present 5.5 crores to eight crores by December this year with the support of states, Agriculture Minister Narendra Singh Tomar said.

In a video conference with the state chief ministers, Tomar asked state governments to make a database for the state using the federated farmer database prepared by the central government and permit linkage to the state land record database.

"The Ministry of Agriculture and Farmers Welfare has created a database of 5.5 crore farmers and it'll be increased to eight crore farmers by December 2021 with the assistance of state governments," a politician statement quoted Tomar saying within the conference.

Noting that agriculture has got to be linked with digital technology, research project and knowledge, the minister emphasised that both the Centre and states must work together for agriculture to offer a lift to the economy.

He also said with the establishment of the Agriculture Infrastructure Fund, Farmer Producer Organisations (FPOs), Mandis and start-ups will get loans easily.

In the conference, digital agriculture and the of emerging technology for smart agriculture was discussed and therefore the concept of farmers' database was explained.

According to the statement, a national farmer database is being created by taking data from existing schemes like PM-KISAN, soil health card and Pradhan Mantri Fasal Bima Yojana. The database will have connectivity to the state land records database.

Stating that there's a rise in farm exports, Union Food and Commerce Minister Piyush Goyal said, "India is emerging as a trusted export partner and there's further scope for improvement of agri-exports."

He emphasised that the infrastructure must be strengthened for storage and warehousing.

The objectives of the conference were to spotlight the salient features of "Atmanirbhar Krishi" (self-reliant agriculture sector) and to enable states to reinforce farmers' income. it had been also an event to share innovative initiatives undertaken by the states.

The discussion with the states centred round the Rs 1 lakh crore Agriculture Infrastructure Fund found out to drive infrastructure investment.

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The recent modifications within the scheme were explained – the eligibility has been extended to APMCs, state agencies, national and state federations of cooperatives, FPOs and self help groups.

The eligible activities were explained like community farming, assets, post-harvest management projects and first processing.

In the conference, the necessity to form India self-reliant in edible oils and palms was stressed and therefore the role of the states was discussed.

The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) and therefore the saturation of Kisan mastercard for little and marginal farmers was also discussed. Upgradation of the beneficiary database was emphasised.

There was discussion on export of agriculture products and therefore the role of APEDA (Agricultural and Processed Food Products Export Development Authority) in increasing agriculture exports.

The states were told that APEDA will facilitate cluster centric capacity building exercises for state officials, FPOs, farmers, start-ups, etc.

The first day of the two-day conference saw the participation of Chief Ministers and Agriculture Ministers of States like Punjab, Haryana, Rajasthan, Uttar Pradesh, Uttarakhand, Himachal Pradesh, Chattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Bihar, Jharkhand, Odisha, West Bengal and Goa.

Two junior Agriculture Ministers Kailash Choudhary and Shobha Karandlaje, Agriculture Secretary Sanjay Agarwal, Food Secretary Sudhanshu Pandey were among other senior officials present at the conference.

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While we have a favourable external environment with most global buyers looking to hedge their bets outside China, India must trigger a quality revolution among its manufacturers in order to grab this opportunity 

One of the foremost striking contrasts for global buyers in sourcing products from India vis-a-vis China remains an astonishing lack of attention to quality among an enormous majority of Indian manufacturers. This problem is acutely pronounced in the small and medium scale manufacturing (MSME) sector.

For example, within the apparel and textiles sector, India is home to several world-class and quality-conscious manufacturers. Similarly, other industries even have top-quality manufacturers.

It is outside the big-league players that we see a precipitous decline in adherence to the worldwide quality standards. Contrast this with China, where there's no shortage of small or midsized firms following the strict us and European standards of quality.

The pandemic brought now home once more. In early 2020, because the demand for three-ply masks shot through the roof round the world, our teams struggled to seek out even a couple of manufacturers from India who were making masks that met the US FDA’s or EU CE standards for exports. as compared, many such factories in China — a majority of them small or midsize units — were readily producing their FDA/CE certification on demand.

This experience, among others, has led us to conclude that poor quality control remains perhaps the most important self-inflicted barrier to the expansion of Indian exports. this is often a drag area that needs attention and therefore the gaps got to be addressed.

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To begin with, we'd like to recognize that quality, like charity, begins reception. Most Indian small-scale units were found out to satisfy domestic or local demand, and that they have bought into the self-perpetuating myth that Indian customers are fine with goods of lower quality.

Garments and apparel manufactured in India and sold in Indian retail stores are rarely tested vigorously for strength, stretchability, and tear resistance of the material. this is often readily apparent to anyone in India who has bought a pair of jeans or shirt from the US or Europe — the difference in quality is stark. this is often changing, but not at the pace where Indian brands are often considered globally competitive.

Now, when these very manufacturers aim for growth through exports, they're seldom conscious of quality standards demanded by foreign buyers. In other cases, they decide that implementing higher quality control in factories isn't well worth the significant time and investment for a gift within the distant future.

Education and awareness-building are the keys to addressing this issue at a private unit level. In some cases, local associations have also played an important role. In Ahmedabad, Gujarat, an association of chemical and pharma manufacturers formulated a group of world-class standards for effluent treatment and disposal, which were then mandated for all member units. Pressure from industry peers eventually forced all units to take a position as inexpensive yet effective waste treatment plants, allowing their products to pass even the strictest sourcing requirements from buyers around the world. Exports took off, and every one unit earned a handsome return on their investments.

While the manufacturers don an enormous share of the responsibility to take care of global standards of quality, there's important work to be done by other stakeholders also. Most critically, we'd like a radical overhaul of our domestic standards enshrined under ISI/BIS, bringing the standards themselves also as procedures for checks and audits as on the brink of their global counterparts as possible. Our domestic standards are outdated or weak and are seldom accepted by international buyer of repute.

Even if we were to concede that an entire overhaul of the ISI/BIS specifications could also be a long-drawn and tiresome process, the work at hand also can be accomplished by a myriad of government-funded ‘export promotion councils’, who can each undertake promulgation and audit of world-class standards for industries and units falling under their respective jurisdiction.

For India to be a key player in global exports it necessitates a pervasive attention and adherence to global standards of quality, particularly among small scale manufacturers. While we've a favourable external environment with most global buyers looking to hedge their bets outside China, India must trigger a top quality revolution among its manufacturers so as to grab this chance .

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Today, the RBI has managed to amass $572 billion of foreign currency assets that will come in handy in fighting any speculative attack on the rupee following a bond-buying taper by the US Fed

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Addressing the Internation Climate Summit 2021, Mukesh Ambani said that work was happening at a brisk pace to develop the 5,000-acre Giga Complex

Reliance Industries (RIL) Chairman Mukesh Ambani, on September 3, reiterated his commitment to take a position Rs 75,000 crore over subsequent three years in green energy initiatives, including the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, because the global energy behemoth shifts its focus from hydrocarbons to renewable power.

Addressing the International Climate Summit 2021, Ambani said that employment was happening at a brisk pace to develop the 5,000-acre Giga Complex, which might be one among the world's largest green energy facilities, which RIL was on target to become a net-zero carbon company by 2035.

At the event, which is on developing India's hydrogen energy ecosystem, Ambani said that the Giga Complex would have four Giga factories to supply solar integrated photovoltaic units, advanced batteries to store energy, electrolysis to supply green hydrogen and a cell plant to convert that hydrogen to green energy.

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"Although the value of green hydrogen energy is currently high, they're expected to fall significantly. New technologies are emerging for storage and transportation of green hydrogen which can cause an extra reduction in costs," Ambani said.

The government is getting to create an enabling green hydrogen ecosystem which can attract investments," he said.

Reliance will found out the renewable capacity of a minimum of 100 GW by 2030 and can work on bringing down the value of green hydrogen to $1/kg within the next decade, Ambani added.

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After a day of decline in petrol price by 10 to 15 paise across the country, the rates remained unchanged on September 2. Diesel prices were also not changed on the day, according to a price notification by state-run oil companies.

Petrol price in Delhi was cut to Rs 101.34 a litre and diesel to Rs 88.77 per litre on September 1. The prices remained the same on September 2 in the national capital.

In Mumbai, fuel prices witnessed a similar trend. The petrol price remained unchanged and retailed at Rs 107.39 a litre. The financial hub, on May 29, became the first metro in the country where petrol was being sold for more than Rs 100 per litre.

Diesel price also remained the same and sold at Rs 96.33 per litre in Maharashtra’s capital.

The fuel prices remain unchanged in Kolkata too, where a litre of petrol and diesel were retailed at Rs 101.72 and 91.84, respectively.

Chennai also retailed a litre of petrol at the same price - Rs 99.08. Diesel price also remained unchanged at Rs 93.38 per litre in Tamil Nadu’s capital.

The price cut follows international oil prices tumbling to their lowest level since May after the US Federal Reserve signalled it was set to start tapering asset purchases within months, hurting commodities and lifting the dollar.

India is near 85 per cent dependent on imports to meet its oil needs and so benchmarks local fuel rates to international oil prices.

Petrol and diesel price was last hiked on July 17. Prior to that, the petrol price was increased by Rs 11.44 a litre between May 4 and July 17.

Diesel rates had gone up by Rs 9.14 during this period. The price hike during this period pushed petrol prices above Rs 100-a-litre-mark in more than half of the country while diesel crossed that level in at least three states.

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Data on Tuesday showed Asia’s third-largest economy grew by a record annual pace of 20.1% last quarter, driven by a surge in manufacturing and a strong rebound in consumer spending, but spiking infections from the Delta variant of the coronavirus and slow vaccination rates in some states are likely to hurt growth.Tata Steel | Brickwork Ratings upgrades the ratings for the unsecured Non-Convertible Debentures/Bond Issues aggregating Rs 4000 crore of the corporate from BWR AA/Stable to BWR AA+/Stable.

Indian factory activity expanded at a slower pace last month as persistent pandemic-related weakness weighed on demand and output, forcing firms to chop jobs again following a quick recovery in July, a personal survey showed on Wednesday.

Data on Tuesday showed Asia’s third-largest economy grew by a record annual pace of 20.1% half-moon , driven by a surge in manufacturing and a robust rebound in consumer spending, but spiking infections from the Delta variant of the coronavirus and slow vaccination rates in some states are likely to harm growth.

The Manufacturing Purchasing Managers’ Index, compiled by IHS Markit, fell from July’s three-month high of 55.3 to 52.3 in August but stayed above the 50-level that separates growth from contraction on a monthly basis.

Although new orders and output expanded for a second month, growth slowed sharply in August.

”August saw a continuation of the Indian manufacturing sector recovery, but growth lost momentum as demand showed some signs of weakness thanks to the pandemic,” said Pollyanna De Lima, economics associate director at IHS Markit.

”Uncertainty regarding growth prospects, spare capacity and efforts to stay a lid on expenses led to a freeze in August.”

Employment slipped back to contractionary territory in August after growing in July for the primary time in 16 months, indicating the work market is way from pre-pandemic levels.

Shortages of raw materials and better freight fees continued to place pressure on input costs, forcing firms to extend prices at the fastest pace since May, indicating inflation would remain elevated.

However, that wasn't expected to prompt the Federal Reserve Bank of India to tighten monetary policy, as support for the economic process continues to be the central bank’s main priority.

Still, optimism weakened in August as companies were concerned about inflation and therefore the pandemic’s lingering impact.

”The 12-month outlook for production remained positive, though confidence faded amid worries concerning the lasting scars of the pandemic and therefore the adverse impact of rising costs,” added De Lima.

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Tied grants are released to the agricultural local bodies (RLBs) for improving two services -- Sanitation and maintenance of open-defecation free (ODF) status and provide of beverage , rainwater harvesting and water recycling.

The Finance Ministry on Tuesday said it's released about Rs 13,386 crore to 25 states for providing grants to rural local bodies (RLBs).

Tied grants are released to the agricultural local bodies (RLBs) for improving two services -- Sanitation and maintenance of open-defecation free (ODF) status and provide of beverage , rainwater harvesting and water recycling.

“The Department of Expenditure, Ministry of Finance, has on Monday released an amount of Rs 13,385.70 crore to 25 States for providing grants to the agricultural Local Bodies,” the ministry said during a statement.

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This grant-in-aid is that the first instalment of Tied grants of the year 2021-22. The grants are released as per the recommendations of the 15th Finance Commission.

Tied grants are meant to make sure the supply of additional funds to the agricultural local bodies over and above the funds allocated by the Centre and states for sanitation and beverage under the Centrally Sponsored Schemes.

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Mobius, who has over 30 years of experience at Franklin Templeton Investments, has cited the increased government expenditure in form of pandemic stimulus as the reason behind a likely devaluation of currencies.

Investors should keep 10 percent of their portfolio in physical gold as currencies across the world are set for a serious devaluation, veteran investor Mark Mobius was reported as saying on August 30.

Mobius, who has over 30 years of experience at Franklin Templeton Investments, has cited the increased government expenditure in sort of pandemic stimulus because of the reason behind a possible devaluation of currencies.

An "incredible amount" of cash would be printed thanks to the stimulus, thanks to which the currency devaluation globally are going to be quite significantly next year, Mobius told Bloomberg.

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Considering the above scenario, "10 percent of investments should be put into physical gold" at this stage, he said.

It is getting to be very, excellent to possess physical gold that you simply can access immediately without the danger of the govt confiscating all the gold,” Mobius was quoted as saying.

Mobius' remarks are available the backdrop of bullion rates decelerating following the worldwide rollout of vaccines. The rates had soared to record-high levels last year when lockdowns were imposed to combat the health crisis.

Spot bullion head reached $2,075 a few years ago, and has since, lost four percent of its value. In India, gold prices had breached Rs 56,000 in August last year, and are currently hovering around the Rs 50,000-mark.

Most economies across the planet have increased their expenditure so as to stimulate the economy jolted by COVID-19. The fiscal stimulus has boosted balance sheets maintained by central banks globally, resulting in inflation and a better fiscal deficit.

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In this episode, Jagruti shares her experience as an investor from a global perspective and shares her advice to avoid some pitfalls in angel investing. Tune in to the podcast for more

This week, on the "The Private Market Show," we've Jagruti Bhikha. Donning multiple hats, Jagruti is an angel investor and therefore the Founder CEO of rising Together VC.

Rise Together aims to make a community of 100k angel investors who will provide financial and strategic partnerships to entrepreneurs across the planet.

In this episode, she shares her experience as an investor from a worldwide perspective, how she exited from her first investment and shares her advice on the way to avoid a number of the pitfalls associated with angel investing.

Jagruti also talks about how investors shouldn't be influenced by fear to participate within the innovation economy and her experience in investing as a lady. to understand more, tune to the podcast.

Sharetipsinfo-Stock market tips advisory

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Sectors such as financial advisory, insurance look attractive from a long-term point of view, Ramanathan says Satish Ramanathan, director & Chief Investment Officer- Equity, JM Financial Asset Management, says despite various lockdown-like restrictions and shortages that the businesses face, a 9.5 percent growth is achievable.

A high number would be difficult, as a large chunk of the service economy has been hit by the coronavirus, he says. So, a 9-9.5 percent GDP growth would be excellent news.

In an interview with Moneycontrol's Sunil Shankar Matkar, Ramanathan says investors should stick with their objective of long-term asset allocation across fixed income, equity, and other asset classes as suggested by their financial planner. Edited excerpts:

The market is at a record high. Which are the key drivers? does one think the rally will sustain? does one expect a serious correction within the coming months?

The Nifty continues to scale new highs, while midcap and smallcap indices have already experienced a pullback. The breadth of the market continues to be narrow and therefore the advance-decline ratio suggests that markets are tentative.

While markets and the economy are interrelated, they are doing not necessarily move together. From the Indian economy perspective, we believe that a big amount of restructuring has taken place over the past few years, setting the ground for a replacement cycle of consumption, CAPEX, and growth. the govt has been prudent and tried avoiding being too populist and has actually raised its tax levels to fund CAPEX and supply relief for Covid.

We believe that structurally all elements are in situ for corporate performance to still improve from here on. Free cash flows have increased also as debt levels have come down.

Benefits of lower interest rates are now trickling to midcap and smallcap companies also and that we are witnessing deleveraging by small companies also . However, market valuations are at levels where there's no room for disappointments, and considering that there's a big retail element during this rally, volatility is to be expected.

What should be the investor strategy now that the market is at a replacement high?

We recommend that investors stick with their objective of long-term asset allocation across fixed income and equity and other asset classes as suggested by their financial planner. We don't recommend altering weights during a significant manner.

Sure, there could also be bouts of correction which can be used as a chance to extend equity allocation, but is it a time to sell midcaps and move it to large caps— the solution is on a structural basis—not now.

We recommend investors still invest in a systematic manner either through SIPs or the other preferred route. Corrections are often either time-based or value-based and that we reckon that it's going to be more time- based this point. Lump-sum investments are often considered when there are significant moves within the market or into value-based themes as and when the environment is true.

Which are the sectors that have yet to participate within the run? Should investors invest in those sectors now?

Almost all sectors have participated during this rally, which has extended over 16 months now. we've had several reasons for every one of them moving up but the essential premise was that Indian companies will see a significant rise in pricing power and demand both internal and external. tons of this has played out and that we are now experiencing inflation in input costs eroding margins.

Further shortages, thanks to several reasons, have also caused output to drop resulting in some earnings downgrades also.

We will have an interest in investing in long-term sustainable sectors with an extended runway of growth. we discover sectors like financial advisory, insurance, and other such sectors attractive from a long-term point of view.

The primary market has been quite active for quite a year now and tons of companies have filed draft documents for IPOs in 2021. what proportion of money is going to be raised through these offers in 2021 and 2022?

A healthy IPO market is that the key to the long-run vibrancy of capital markets. New businesses and entrepreneurs who re-define business are key to improving capital allocation efficiency. therein sense, we believe that the IPO market which wasn't active for nearly a decade may come and sustain.

Valuations could also be debatable and there's an opportunity that one overpays during a fanatical market but that doesn't change the viability of the underlying business.

So as always, we'd like to try to do our homework before choosing which company to take a position in and know the underlying drivers of growth instead of using the IPO as a lottery.

Do you think the Indian economy can grow in double digits in FY22 against the RBI's growth forecast of 9.5 percent?

Given the varied lockdowns and shortages that the businesses face on several fronts, we believe that a 9.5 percent growth is achievable. To anticipate variety much high than this is able to be difficult, as long as large parts of our service economy are impacted. So, we are quite happy to possess a 9-9.5 percent GDP growth this year.

What we'd like to understand is that if there's an extra outbreak of Covid and therefore the damages thereof. Our vaccination program is proceeding smoothly without major hiccups and it's reasonable to assume that a big portion of our population is roofed with two doses by December 2021. this could cause some sustainability of growth.

Warren Buffett celebrates his birthday on August 30. Which of his investment strategies do you wish the most?

There are tons to find out from Warren Buffett's philosophy and elegance of investing but the one thing that impresses me most is—"never invest during a business you can't understand". Simple because it seems, it's deeply profound. As you ask questions, a variety of things start falling in situ and therefore the decision to shop for or to not buy becomes clearer. Simplicity and customary sense are usually underrated in investing.

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