Latest news with #ASSOCHAM
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Business Standard
3 days ago
- Business
- Business Standard
Industry, govt must work on indigenous food processing machinery: Official
India must develop indigenous capacities in food processing equipment manufacturing to reduce its reliance on imports, even as it aims to harness its agricultural advantage to become a global hub in food processing, a senior government official said on Thursday. "Despite our success in production and exports, we remain heavily dependent on imported food processing machinery. It is crucial that the industry and government work together to build domestic capabilities and improve quality and scale," said Devesh Deval, joint secretary, ministry of food processing industries, at the National Conference on Food Tech organised by Assocham. Deval underlined the need to channel India's agricultural strengths into a leadership role in food processing by embracing cutting-edge technologies. "We welcome inputs from stakeholders and are open to facilitating broader consultations to identify concrete, actionable steps. What matters is taking timely and measurable action to strengthen every link in the food processing value chain," he said. During the conference, the Food Safety and Standards Authority of India (FSSAI) launched a national stakeholder consultation portal aimed at gathering inputs to develop more inclusive and implementable food regulations. 'FSSAI is already taking concrete steps to integrate technology in regulatory processes,' said Rao, calling on government bodies, industry participants, experts, and MSMEs to jointly create data-driven, tech-enabled food safety mechanisms. Sudhanshu, secretary at the Agricultural and Processed Food Products Export Development Authority (Apeda), spoke about both the opportunities and hurdles within India's food processing landscape. Referring to successful traceability models in grapes, organic products, and millets, he stressed the urgency of adopting technologies like AI, Internet of Things (IoT), and advanced packaging solutions to boost food safety and export preparedness. Vivek Chandra, chairman, Food Processing and Value Addition Council, ASSOCHAM, said the future of food security depends not just on production but on how food is processed, preserved, packaged and distributed. Against the backdrop of climate change and supply chain disruptions, he highlighted the critical role of next-generation technologies in driving efficiency, safety and sustainability. A joint knowledge report by ASSOCHAM and PwC was also released at the conference.
Mint
4 days ago
- Business
- Mint
India needs domestic food processing machinery capabilities to reduce imports: Official
New Delhi, May 29 (PTI) India must build domestic capabilities in food processing machinery to reduce its heavy dependence on imports, even as the country leverages its agricultural strength to emerge as a global leader in food processing, a senior government official said on Thursday. "Despite our success in production and exports, we remain heavily dependent on imported food processing machinery. It is crucial that the industry and government work together to build domestic capabilities and improve quality and scale," said Devesh Deval, Joint Secretary, Ministry of Food Processing Industries, at the National Conference on Food Tech organised by ASSOCHAM. Deval emphasised that India's agricultural prowess must now translate into global leadership in food processing through advanced technology integration. "We welcome inputs from stakeholders and are open to facilitating broader consultations to identify concrete, actionable steps. What matters is taking timely and measurable action to strengthen every link in the food processing value chain," he added. The conference saw the launch of a dedicated national stakeholder consultation portal by the Food Safety and Standards Authority of India (FSSAI) to gather inputs for more inclusive and implementable food regulations. Alka Rao, Advisor (Science & Standards & Regulations), FSSAI, stressed that food regulation and technology must evolve collaboratively. She underlined the importance of creating structured, accessible databases and ensuring responsible use of technology, particularly artificial intelligence, with due caution regarding bias and data gaps. "FSSAI is already taking concrete steps to integrate technology in regulatory processes," Rao said, calling for collective action from government, industry, experts and small and medium enterprises to build data-driven, tech-enabled food safety systems. Agricultural and Processed Food Products Export Development Authority (APEDA) Secretary Sudhanshu highlighted both the potential and challenges in India's food processing sector. While India's diverse agro-climatic conditions enable production of a wide variety of crops, the sector faces critical issues such as pesticide residue, perishability and lack of advanced processing and packaging technologies. Citing successful traceability systems in grapes, organic produce and millets developed in response to global market concerns, he stressed the importance of leveraging next-generation technologies like AI, Internet of Things and advanced packaging solutions to enhance food safety and export readiness. Vivek Chandra, Chairman, Food Processing and Value Addition Council, ASSOCHAM, said the future of food security depends not just on production but on how food is processed, preserved, packaged and distributed. Against the backdrop of climate change and supply chain disruptions, he highlighted the critical role of next-generation technologies in driving efficiency, safety and sustainability. A joint knowledge report by ASSOCHAM and PwC was unveiled at the conference.
Business Standard
5 days ago
- Business
- Business Standard
Restoration of RoDTEP Scheme for AA, SEZ, and EOU Exports ensures that key contributors to exports are not excluded from critical incentives
Associated Chambers of Commerce and Industry of India (ASSOCHAM) has commended the Government of India for restoring the benefits under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme for exports from Advance Authorisation (AA) holders, Export-Oriented Units (EOUs) and Special Economic Zones (SEZs), effective June 1, 2025. The restoration ensures that key contributors to Indias exports are not excluded from critical incentives, especially at a time when global competitiveness and domestic industrial resilience are of utmost importance. ASSOCHAM has consistently advocated for the extension of RoDTEP to all exporting entities, including those operating in SEZs and under AA and EOU frameworks. This move will correct the gap that created cost disadvantages for such units and is aligned with Indias WTO commitments, noted Manish Singhal, Secretary General, ASSOCHAM.
United News of India
22-05-2025
- Business
- United News of India
Sebi chief confident NSE IPO issues will be resolved soon
New Delhi, May 22 (UNI) Sebi chief Tuhin Kanta Pandey said on Thursday that all outstanding issues related to the National Stock Exchange (NSE) Initial Public Offering (IPO) will be resolved shortly, allowing the process to move forward smoothly. 'Regarding the NSE IPO, all outstanding issues will be resolved soon, and we will move forward. I cannot provide an exact timeline, but discussions between NSE and SEBI are ongoing, and I am hopeful that the issues will be resolved positively,' Pandey told reporters on the sidelines of an ASSOCHAM event. The NSE, the world's largest derivatives exchange, has faced delays in its IPO since 2016 due to governance concerns, legal challenges, and issues related to its clearing corporation. In March 2025, the NSE submitted a fresh application to SEBI seeking a No Objection Certificate (NOC) to advance its IPO process. Chairman Pandey emphasised that SEBI and the NSE are actively collaborating to address these concerns. "While I cannot give a specific timeline, I am optimistic that the pending issues will be resolved soon, allowing the IPO to move forward," he said. On cryptocurrency regulation, Pandey clarified, "As a regulator, we ensure proper oversight, but policy decisions are made by the government. Currently, crypto is not classified as a security under the existing regulatory framework.' The NSE's IPO has attracted significant investor interest, as the exchange is one of India's most valuable private companies with an estimated valuation of approximately ₹4.7 lakh crore. The resolution of outstanding issues and the IPO's approval are expected to have far-reaching implications for India's capital markets. UNI BDN SSP
Business Standard
22-05-2025
- Business
- Business Standard
SEBI Chairman says capital markets are a major engine of financial inclusion
Tuhin Kanta Pandey, Chairman of Securities and Exchange Board of India or SEBI, has deliberated how capital markets are powering long-term investments, innovation, and infrastructure development. With Rs 93 lakh crore raised over the last decade and 13 crore unique retail investors, capital markets are a major engine of financial inclusion. He also spotlighted the rapid growth of AIFs, REITs/InvITs, and PMS, and the rising global confidence in India's economy. He made these remarks in a speech made at the 16th Capital Market Conference, organized by ASSOCHAM. Pandey further outlined SEBI's key initiatives to deepen markets and strengthen investor protection, including reforms in IPO listing timelines, the introduction of Flexi-cap derivatives, and growth in municipal bonds and the corporate bond market. SEBI's tech-driven regulatory supervision is helping ensure market integrity while fostering innovation and accessibility. He noted further that the government's commitment to building world-class infrastructure, improving ease of doing business and unleashing entrepreneurial energy has already begun to redefine the contours of our economy. Digital transformation, the emergence of AI, and the strengthening of digital public infrastructure are unlocking efficiencies and inclusion on an unprecedented scale. These developments, combined with strong macroeconomic fundamentals, policy stability, resilient financial market ecosystem are creating an enabling environment for sustained capital formation and productivity-led growth.
