Latest news with #SureshAgarwal
Time of India
09-08-2025
- Business
- Time of India
RIICO sells undeveloped land at cheaper rates to attract investors
Jaipur: Investors can now purchase undeveloped and semi-developed industrial land at cheaper rates. In a recent order, RIICO stated that the rates would be based on the basic cost of the land (DLC), along with development and administrative charges. The departure from the practice of transparent auctions was initially intended to attract investors to far-flung industrial areas where demand is lacking and land remains idle. However, the order does not make any distinction, and it is open to all industrial areas, including urban areas. According to the order of RIICO on July 15, it is clear that the govt wants to provide cheaper land to industry, and undeveloped or semi-developed land fulfills this intent. Industries Minister Rajyavardhan Rathore told TOI that the decision fulfills two important objectives: monetising RIICO's idle land parcels and providing land to industrial units at cheaper rates. In fact, the industry in the state advocated for direct land allotment instead of auctions, which raise the acquisition cost, making the state uncompetitive. Suresh Agarwal, President of the Federation of Rajasthan Trade and Industry, said, "The decision will help industry. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like With temperatures hitting 95°F, this is the mini air conditioner everyone's buying in the U.S News of the Discovery Undo But we want the govt to expedite the process of undeveloped land allotment, and it should benefit large sections of the industry." However, some segments of the industry also expressed concerns about the process of allotting such undeveloped land. "While we fully agree with the govt decision for making undeveloped land available at cheaper rates, the process of allotment remains an issue," they said, preferring anonymity. As per the order, allotment is dependent on RIICO's Infrastructure Development Committee (IDC), which is majorly represented by the corporation's officials. "Ultimately, it will be their decision to whom they qualify for allotment. So, there is a risk of subjectivity coming into the decisions," they said. They suggested that the allotment of the undeveloped land should have also been done through the auction process. "It is more or less a fair process. There would be no question of somebody crying foul that the genuineness of their application for land was not considered," they said. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Raksha Bandhan wishes , messages and quotes !
Time of India
18-05-2025
- Business
- Time of India
FJCCI calls for suspension of trade with Turkiye & Azerbaijan
1 2 Ranchi: In a significant move that reflects growing national sentiments, the Federation of Jharkhand Chamber of Commerce and Industry ( FJCCI ) announced the suspension of trade activities with Turkiye and Azerbaijan . The decision comes in response to the two countries' recent political stances perceived as unfavourable to India, including support for Pakistan after India's counter-terrorism strikes across the Line of Control (LoC). In the aftermath of Ankara and Baku's statements backing Islamabad, Indian sentiment has shifted sharply, with online travel companies advising Indian citizens against visiting Turkiye and Azerbaijan. FJCCI has also scheduled a meeting with traders of different businesses in Jharkhand on Monday to bolster the appeal to the trade suspension. The federation's main focus will be on ceasing booking tours to Turkiye and Azerbaijan, both popular destinations among Indian tourists, including those from Jharkhand. Talking to TOI, FJCCI chairman of export sub-committee Suresh Agarwal said though Jharkhand has no direct export and import link with both countries, some items, including Turkish marble and food items, have been purchased by Indian traders. "A few traders in Jharkhand deal in Turkish marble, imported by other states. However, I have no information on Turkish food items imported to Jharkhand. No item is exported to both countries from Jharkhand. Indian traders in many parts of the country have initiated informal boycotts, causing a noticeable drop in the purchase of Turkish apples and marbles. FJCCI will also follow the steps," Agarwal said. The chairman added that the federation will appeal to the traders in Jharkhand to boycott items imported from Turkiye and Azerbaijan so that the two countries could feel the blow to their economy. "Additionally, the economy of both countries is dependent on tourism, and many from Jharkhand also visit tourist destinations in Turkiye and Azerbaijan. The federation appeals to tour and travel operators in the state to suspend tours to the two countries, ensure security of Indian tourists and also to make the countries incur loss in the tourism sector," Agarwal added.
