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G-33 ministers rally for food security ahead of WTO conference in Abu Dhabi

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

G-33 ministers stress public stockholding’s vital role for food security before the World Trade Organization conference in Abu Dhabi emphasizing need for fair and transparent trade system. They stress its importance for developing countries’ food and livelihood security, supporting rural development. The group calls for progress on agriculture trade negotiations and urges adoption of solutions to address global hunger challenges.

Ahead of the World Trade Organization’s (WTO) 13th Ministerial Conference in Abu Dhabi, the G-33 Ministerial statement underscored the critical significance of public stockholding for food security among developing countries. Comprising 48 member nations, including Least Developed Countries (LDCs) and Net Food Importing Developing Countries (NFIDCs), the group emphasised the pivotal role of public stockholding in ensuring food and livelihood security and fostering rural development.

The move is likely to bolster India’s defence for Minimum Support Price (MSP) for crops, an issue which has already sparked protests by farmers across the world.

The Ministers and Representatives of the G-33 countries met in Abu Dhabi, United Arab Emirates, on the sidelines of the 13 WTO Ministerial Conference, to exchange views on the agriculture trade negotiations and to deliberate on priorities for the outcome.

Terming the need to address contemporary challenges facing the multilateral trading system as a collective responsibility of all WTO Members, the group noted that the upcoming Ministerial is an important opportunity to reinforce a rules-based, non-discriminatory, open, fair, inclusive, equitable, and transparent multilateral trading system with the WTO at its core.

Calling for a constructive dialogue to achieve a meaningful outcome on agriculture at the 13th WTO Ministerial Conference, the group expressed concern over the projection by the Food and Agriculture Organization of the United Nations that the number of chronically undernourished people will be almost 600 million in 2030.

Regretting the serious lack of progress in agriculture trade negotiations, including fulfilling the outstanding mandates of previous Ministerial Conferences, the group called for the adoption of a permanent solution in its proposal JOB/AG/229, jointly submitted with the African, Caribbean, and Pacific Groups.

The proposal invited WTO member countries to constructively engage to achieve an outcome on public stockholding for food security purposes in the 13th WTO Ministerial Conference.

While the group reiterated the right of developing countries to institute a Special Safeguard Mechanism (SSM) as an important instrument against major import surges or sudden price declines, it urged WTO members to agree and adopt a decision on SSM by the 14th WTO Ministerial Conference.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
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nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Sitharaman flags concerns on inadequacy of multilateral institutions, global terrorism and food security at conclave

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Finance Minister Nirmala Sitharaman addressed the 2023 Kautilya Economic Conclave, raising concerns about the effectiveness of multilateral institutions and emphasising the need for a proactive response to global challenges, including the impact of terrorism, clean energy transition, food security, cryptocurrency regulation, and debt reduction.

Finance Minister Nirmala Sitharaman raised some concerns facing the global economy, including on effectiveness of multilateral institutions, challenges with energy transition, food security and reducing debt, among other issues, on Day 1 of the three-day Kautilya Economic Conclave 2023.

The conclave, organised by the Institute of Economic Growth (IEG), is taking place in Mumbai from October 20-22 and Reserve Bank of India (RBI) Governor Shaktikanta Das will also be speaking there.

Here are some key takeaways from Sitharaman’s speech:

# Effectiveness of multilateral institutions

FM Sitharaman expressed concerns about the inadequacy of major multilateral institutions, including the United Nations, the World Health Organization, the World Trade Organization, the United Nations and the UNSC.

“Interventions by these organisations, other than multilateral development banks,  are currently less effective than ideal, especially since they were first instituted. This decline in effectiveness is reshaping strategic blocks across the world, impacting supply chains, and has far-reaching consequences,” she said while adding the world has not yet recovered from COVID.

# Climate change and clean energy transition

India doesn’t have answers yet on the transition energy, she said, adding that the path from fossil to renewable is complicated. “Till today no one is able to tell us which is that one energy which can be used for transition. Low-income, developing countries cannot afford big money for energy transition,” she said.

The government is constrained by limited financial resources, she said, and natural gas is no longer considered a viable solution for the energy transition. This underscores the need for innovative and cost-effective solutions.

# Food security template

India is working on establishing a template to maintain food security, she said. “There should be a regional balance for basic staples for sufficiency and security,” she said.

This effort goes beyond India’s borders, as the Finance Minister highlighted the importance of regional balance for basic staples to ensure food sufficiency and security, particularly in the context of global uncertainties.

# Regulation of crypto

Cryptocurrency is not something where any one country can succeed, the finance minister noted in her remarks. She added that the matter was taken up with the recently concluded G20 group for consensus on whether crypto should be regulated and if so, how. The G20 is now coming out with a template for the crypto world, she added.

# Debt reduction and fiscal responsibility

The FM said the Indian government is actively working on reducing debt levels, taking inspiration from how other economies manage their debts.

“The government is conscious of the debt burden. Our efforts are very well streamlined and I am sure we will be able to bring it down. Need to be sure that the money spent is well used. Bang for the buck is well in our minds,” she said.

# Global terrorism as a primary business risk

Sitharaman also touched upon the pressing concern of global terrorism, acknowledging that it has become a “permanent uncertainty” with a high-cost risk associated with it. This serves as a primary risk for businesses worldwide and economic policies alone are insufficient to address it. Companies need to factor in the impact of terrorism on their operations and strategies, she said.

Winding up her remarks, Sitharaman pointed out that the government is conscious of macroeconomic stability and fiscal management in its decision-making. This comes at a time when India is gearing up for the 2024 Lok Sabha elections and the Budget announcement in February.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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World View | B20 India 2023— this is why unlocking Africa’s agricultural abundance is crucial

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Africa can leverage its growing visibility on forums of global governance like the G20 to highlight the need and benefits of initiatives like technology transfer programmes — bringing global innovation to the continent.

A report published in 2022 by researchers at the American Geophysical Union (AGU) suggests that by 2075, the African continent will be able to produce enough food to feed only about 1.35 billion people — at a time when the continent’s population is expected to surpass 3 billion.

Also, a 2014 publication in the United Nations’ Africa Renewal magazine indicated similar trends, suggesting that the continent would only be able to produce about 13 percent of its food needs by 2050, if the fragilities associated with food systems were to persist. Today, over 250 million people across the continent face hunger, on account of persistent food insecurity which is further exacerbated by multiple factors including climate incidents.

In addition, structural transformation needs to be catalysed through a focus on agro-industrialisation, transitioning broader food systems towards those that are more industrialised and consolidated. This transition is characterised by the consolidation of value chains through a focus on creating larger-scale and more input-intensive farms, modern processing facilities with best-in-class infrastructure and formalisation of food markets, thus allowing the workforce to transition to higher reward sectors.

Today, while over 50 percent of the African workforce is directly employed in agriculture, about 70 percent of the population directly or indirectly relies on it. While nations across Africa have made considerable progress over recent decades in improving the performance of their agri-sectors, the risk of population growth outpacing progress continues to prevail.

The continent imports over 80 percent of its food, with the annual import bill expected to surpass USD 100 billion, post 2025 as per the World Bank. Moreover, about 60 percent of farmers on the continent are subsistence smallholders, i.e., they cultivate solely for personal consumption and have almost no access to finance and other key inputs like fertilisers. As a result, agricultural yield levels in Africa are amongst the lowest in the world and have a trickling effect on poverty and nutrition. 

These trends persist despite the continent’s immense agricultural potential. Africa has over 65 percent of the world’s remaining uncultivated arable land, plentiful freshwater to meet agricultural needs, over 300 days of rich sunshine each year, and a landscape gifted with abundantly fertile soil.

In 2003, the AU and New Partnership for Africa’s Development (NEPAD) founded the Comprehensive Africa Agriculture Development Programme (CAADP), setting targets to transform the agriculture and food systems value chain through dedicated focus and public investment. These commitments were further strengthened through the 2014 Malabo declaration — all steps in the right direction. With the right support and focus, the continent has the potential to not only adequately feed itself but become the ‘breadbasket of the world.’

Today, Africa is where many developed economies were about 50 years ago — with average cereal yield levels below 2 tons per hectare and a high proportion of population engaged in agriculture. Currently, developed nations such as the United States and across Europe, have yield levels in the range of 6-9 tons per hectare, while the global average stands at around 4 tonnes. This indicates that Africa has much potential to transform its agricultural systems through focusing on improving productivity, without compromising on the environment by having to convert natural wildlife habitats into agricultural land.

However, with the 2030 target for achievement of the United Nations’ Sustainable Development Goals (SDGs) approaching, acceleration of growth and change has become crucial. Fortunately, the world today has the benefit of unprecedented innovation, with modern technologies available across sectors and use cases.

Africa can leverage its growing visibility on forums of global governance like the G20 to highlight the need and benefits of initiatives like technology transfer programmes — bringing global innovation to the continent. Private greenfield investment in the sector needs to be catalysed, enabling High Yield, Resilient & Adaptive Practices (HYRAP), mechanisation, and tech-driven solutions to penetrate traditional agricultural practices. Structural transformation needs to be catalysed through a focus on agro-industrialisation, transitioning broader food systems towards the ‘industrialised and consolidated’ archetype.

This transition is characterised by the consolidation of value chains through a focus on creating large-scale and input-intensive farms, enabling modern processing facilities with best-in-class infrastructure and formalisation of food markets ultimately facilitating direct access to global value chains and international markets.

Lastly, African nations need to hold themselves true to agreed CAADP spending targets, at 10 percent of all public expenditure — with an adequate split between investment expenditure (such as on storage and irrigation infrastructure) and recurring expenses (primarily subsidies). This will not only help bridge the investment gap but will also help attract private, philanthropic, and development capital from across the world into agriculture initiatives through innovative financing means such as blended finance and low-cost capital.

India’s 2023 G20 Presidency has also marked the first edition of a dedicated action council on African Economic Integration within the B20 engagement group. Driven by the in depth on-ground understanding and expertise of business leaders across Africa and beyond, the Action Council aims to make practical and actionable recommendations to the G20 leaders across identified areas of priority for the continent.

The forum has identified agriculture as one of the top priorities for addressal and its recommendations would go a long way in bringing global finance and best practices to Africa across sectors, especially agriculture. In the fertile fields of Africa, the seeds of agricultural prosperity are sown to cultivate not just sustenance, but economic empowerment for the continent’s future.

 

The authors,Tolu Oyekan, Zoe Karl-Waithaka and Chris Mitchell, are  Managing Directors and Partners at BCG Africa. The views expressed in the article are their personal.    

 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Alternative protein — here’s the story of plant-based meat and of a green revolution too

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Alternative proteins–a novel food innovation has the potential to democratise food supply and mitigate public health risks. Traditionally, countries with arable land have been food producers. Often, this food is grown mainly for export. Conversely, it gives countries with a much smaller land mass who are also technology forward like Singapore, Israel, and Qatar the opportunity to be self-reliant and food secure within the next few decades.

A transformative area of food technology, one that has the potential to bring about a paradigmatic change in the way we eat, is certainly going to attract its share of scepticism as well. That’s apart,  if we had to truly compare alternative proteins with another field of pioneering innovation, they are to food what renewables are to energy, in an era of sustainable options replacing things that create ecological and climate crisis.  

We also know that the journey to develop these replacements has involved almost a century of hard work, cutting-edge innovation, government support, and billions of dollars in investment. While the first wind turbine was used in 1927, it was only in 2021 that renewables provided 28 percent of the total global energy supply. The first lab-grown burger in comparison was developed by Mark Post and eaten on live television in 2013. While science has come a long way and will hasten the process of innovation in the alternative protein sector, it has only been front and centre for a little over a decade. 

Also Read: G20 Foreign Ministers’ Meet | India sets the context saying food and energy security are the immediate anxieties

Contrary to common perception, our emotional attachment to meat and food, in general, makes a compelling case for alternative proteins. With the global population set to double its meat demand by 2050, providing a sustainable source of food is crucial. Meeting this challenge will require a critical climate solution that provides a simple switch without sacrificing taste or tradition. Plant-based, fermentation-derived, and cultivated meat offer a more sustainable source of food, making them an essential component of the solution.

Our current food system is heavily dependent on animal agriculture, which is the biggest contributor to the ecological and climate crisis, responsible for 60 percent of greenhouse gas emissions from agriculture, totalling 14.5 percent of all emissions – more than all forms of transportation combined. Livestock farming also causes significant habitat destruction and species loss. Meeting the Paris Climate Agreement obligations will be scientifically and mathematically impossible without a significant reduction in meat production through conventional animal agriculture.

On the other hand, alternative proteins offer a significantly more sustainable option. For example, the Impossible Burger, a plant-based beef burger, uses 96 percent less land, 89 percent less greenhouse gas emissions, and 87 percent  less water than a conventional beef burger. While, the Beyond Burger emits 89 percent less greenhouse gases and uses 99 percent less water.

Also Read: India’s G20 Agriculture Deputies convene in Indore to discuss climate-smart initiatives and agricultural advancements

According to a life-cycle analysis and techno-economic assessment, with the usage of renewable energy for the manufacturing process of cultivated meat within a decade, there could be a 17 percent  reduction in greenhouse gas emissions to make chicken, 52 percent  reduction for pork, and a 92 percent reduction for beef. Furthermore, when it comes to land use, there could be a 63 percent  reduction for chicken, a 72 percent  reduction for pork, and a 95 percent  reduction for beef.

This novel food innovation has the potential to democratise food supply and mitigate public health risks. Traditionally, countries with arable land have been food producers. Often, this food is grown mainly for export. Conversely, alternative proteins give countries with a much smaller land mass who are also technology forward like Singapore, Israel, and Qatar the opportunity to be self-reliant and food secure within the next few decades. Singapore, for example, in its 30 by 30 vision, intends to provide for 30% of the country’s nutritional requirements locally by 2030. 

Plant-based meat has zero cholesterol and contains fibre besides being lower in calories and saturated fat when compared to animal-based meat. Notably, alternative proteins also have great potential to continue to improve their nutritional profile. Companies know that the long ingredient lists on plant-based meats need to be cut down and with major investments in R&D and product development, future generations of products can and will be optimised for health and nutrition.

Additionally, by removing livestock from the equation, alternative proteins are also free from harmful growth hormones or antibiotics and have the ability to futureproof our protein supply against antimicrobial resistance, zoonotic diseases, and future pandemics. 

World hunger is on the rise and impacts 10 percent of the global population. Over 8 percent of the world’s population is undernourished. Research further indicates that a pandemic-induced blow to global nutrition levels in low and middle-income countries (LMICs) could result in an additional 9.3 million children suffering from wasting (low weight for height) and 2.6 million children suffering from stunting (low height for age).

Climate change will only exacerbate these figures and disproportionately impact the most vulnerable sections of society. Those designing future food systems need to ensure that resilience occupies the front and centre of these innovations.

With 2023 declared globally as the ‘International Year of Millets’, India, for example, has immense potential to leverage these resilient indigenous crops as inputs for a new generation of plant-based products. If innovation is propelled in the right direction, there is a global opportunity to create a variety of high-protein products from indigenous, nitrogen-fixing, and water-efficient crops that promote soil health while improving incomes for smallholding farmers. 

Much like these novel climate-hardy crops, the alternative protein sector, ranging from sector builders and manufacturers to investors and entrepreneurs, must show resilience. The pace of technological advancement in the sector is proof that exponential growth is inevitable. In fact, according to Credit Suisse, the industry is estimated to grow to USD 240 billion by 2030, requiring the plant-based supply chain to scale up anywhere between 3x to 10x.

A report by the Good Food Institute predicts that, to capture six per cent of the global meat and seafood market by 2030, 25 million metric tons (MMT) of plant-based meat will need to be produced annually. A significant portion of this supply can come from the Global South, including countries like India. Robust modelling by Deloitte and GFI India indicates that the smart protein sector in India could have a potential domestic market size of $2.4 billion and a further export opportunity of $1.4 billion.

A revolution is inevitable, and the alternative protein sector’s vision is laser-focused on creating a food-secure world in which nutritional gaps can be sustainably bridged. While there is certainly a need for improvement, if we persevere and get it right, we can have delicious, nutritious, and sustainable meat for everyone, and preserve our planet. 

 

The authors, Mansi Virmani, leads Communications at the Good Food Institute India, and Ambika Hiranandani, is a legal, policy and partnerships advisor to an alternative protein company. 

 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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No country has truly woken up to the severity of malnutrition, say experts

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

In this special episode of ‘Global Dialogue’, CNBC-TV18 spoke to Lawrence Haddad, Global Chief & Executive Director, GAIN; and Vinita Bali, former MD, Britannia Industries, Chairperson, CII Natl Nutrition Committee on the issue of food security and nutrition security.

No country has truly woken up to the severity of the issue. Malnutrition is a major concern that affects children in particular, wreaking havoc on their bodies and brains, leading to lower earning potential as part of the workforce, said Lawrence Haddad, Global Chief & Executive Director, GAIN.

“Malnutrition really wrecks kids bodies. I can’t think of another condition that literally physically shapes a human’s body, shapes their brains, we talk about gray matter infrastructure. Malnutrition, wrecks, kids brains, if you do a MRI of a kid’s brain that is malnourished, you will see literally holes in the brain,” he said.

Haddad added that no government, or any set of businesses or civil society organisations has really grasped the gravity of the issue and “more importantly, they haven’t grasped that they actually have an incredible ability to do something about this.”

CNBC-TV18 on Monday spoke to Haddad, and Vinita Bali, former MD, Britannia Industries, Chairperson, CII Natl Nutrition Committee on the issue of food security and nutrition security.

Bali emphasised that it is not just about providing food, but it is about ensuring that people have access to a healthy and balanced diet. This is a multifaceted issue with both supply and demand-side factors. “We need to do everything we possibly can to ensure that people get not just food, but nutritious food. This is a fairly complex problem to deal with. It has a supply side, which is what is being produced, what is being marketed where and how it is being sold at what prices, and then it’s got the demand side issue,” she said.

She added that India has got good programmes structurally — Integrated Child Development Services Scheme (ICDS), midday meal scheme, public distribution system (PDS), which is reaching 800 million people with basic cereal. ” I think we have really got the infrastructure that if executed better than we have, if executed with energy, if executed with relevance to where we are today can for a large part change what we are impacting,” she said.

To tackle this issue, action is required on many fronts, and the missing ingredient in India’s situation is everything between the farm and the market. There needs to be diversification in the farm-to-market part of the food system. Unfortunately, food loss is very high in India, and a lot of perishable foods are getting lost between the farm and the market, Bali added.

Haddad mentioned that it’s concerning that ESG standards don’t address the issue of nutrition. Haddad also said that the research community is not doing enough on the consequences of malnutrition and the potential solutions to combat it.

Read Here | World Day of Social Justice: Why we need a society that is bereft of inequalities

Talking about role that private sector can play, Bali said, “One, of course, is taking the whole issue of post-harvest loss, the estimate in India is about 30 to 35 percent. That is an area where whether it is investment in cold chain, investment in facilities closer to where harvesting happens, processing closer to where harvesting happens. That’s all a question of identifying the opportunity, making the investment and seeing it work, you cannot possibly go wrong, because there’s a huge opportunity there.”

She added there is a lot that food companies themselves can do to look at the products they sell and ask themselves a question, which is, can they make it more nutritious than it is, “it could be micronutrient fortification, it could be changing in the formulation itself and so on,” she said.

For the entire discussion, watch the accompanying video

Also Read | IndiGo says promoter Shobha Gangwal sold 4 percent of total voting capital

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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What are the top five global risks and how to mitigate them

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Experts at the soon-to-begin World Economic Forum, which will be held in the Swiss town of Davos between January 16 and 20, have highlighted the five crises as some of the most urgent that the world needs to address. 

Climate action, cybersecurity, food security, energy transition and healthcare system – these are just five of the many global risks that the world currently faces. Experts at the soon-to-begin World Economic Forum, which will be held in the Swiss town of Davos between January 16 and 20, have highlighted the five crises as some of the most urgent that the world needs to address.

The WEF’s annually published Global Risks Report explores how these risks are interconnected and how they will play out in a year of what the report calls the “polycrisis”. But compounding these issues is the growing cost-of-living crisis that is emerging across the world.

Here’s why these phenomena pose the greatest risk and how the world can come together to mitigate them.

Climate Action

With 3.6 billion people, or around 45 percent of the world’s population, being highly vulnerable to climate impacts, the time is quickly running out to make long-lasting changes that can prevent the world from warming up too much by the end of the century. Increased frequency of natural disasters, scarcity of food and water, and reduction in the amount of habitable area are just some of the issues that climate catastrophe could cause.

Even as solutions are being worked upon to tackle the issues, more needs to be done at an international, economic and social level to stem the emission of greenhouse gases. These measures include providing the necessary capital to transition for low-income countries, investing more resources in sustainable energy resources, fast-tracking approvals and more.

“Solutions need to be underpinned by public-private collaboration and policy to achieve scale,” says Antonia Gawel, Head of Climate Change; Deputy Head, Centre for Nature & Climate, WEF.

ALSO READ:  World is in the state of crisis, says PM Modi at Voice of Global South summit

Energy Transition

Closely related to the climate and cost-of-living crisis is the world’s failure to quickly, safely and timely transition to cleaner sources of renewable energy. While the hovering spectre of the climate crisis spurred some into action in recent years, the increasing cost of living may threaten to undo much of what has been achieved.

Transitioning to a new energy system that offers sustainability, security and affordability is a complex task that will require systemic challenges at every level. Changing grids, increasing output, and researching more reliable ways of generation and storage are some of the challenges. But these issues need to be addressed quickly in order to achieve net-zero emissions.

“The clock is ticking and major changes are required immediately. Investment, transition and deployment on a large scale must take place by 2030 in a manner perhaps unparalleled by any other global transformation,” said Roberto Bocca, Member of the Executive Committee – Head of Energy, Materials and Infrastructure, WEF.

“While evidence from recent months is mixed, the crisis has been a wake-up call on the urgency of reforming the energy system, and not only for sustainability reasons,” he said.

Cybersecurity

The past two years have shown how lax cybersecurity can bring down critical national infrastructure at the press of a button. Cybersecurity attacks on hospitals, like the recent one on AIIMS Delhi, energy infrastructure, companies, and governments are a cause for concern.

Businesses and organisations need to proactively take measures to protect themselves against cyberattacks and be prepared for eventualities. “While progress has been made in bolstering cybersecurity awareness and preparation, there is more that businesses can do to increase resiliency, including improving cyber literacy, communication and information sharing,” explained Akshay Joshi, Head of Industry and Partnerships, Centre for Cybersecurity, WEF.

ALSO READ:  India rules out FTA with US for now — Here are other highlights from the trade ministers’ meeting

Food security

Energy shortage, fertiliser shortage, labour shortage and vulnerable food logistics have led to more hungry people across the world over the past year. Here also it can be seen how multiple crises interact with each other. As climate change invariably causes more unpredictable weather and hotter temperatures, food-growing regions across the world will see a drop in yield and productivity. This will mean even more hungry people in the coming years.

Geopolitical risks like the Russian invasion of Ukraine also highlight how fragile supply chains can exacerbate food crises across the world. Investing in country-led food systems transformation and transitioning to net-zero and nature-positive food are two ways that countries can deal with this growing problem, explains Tania Strauss, Head of Strategy and Global Projects, Food Systems Initiative, WEF. “We must face this crisis with the certainty of multiple food crises to follow… Success now rests on every country taking action,” she adds.

Healthcare Systems

The COVID-19 pandemic highlighted how poorly equipped the global health systems are to handle a crisis of such proportions. Lack of infrastructure, investment, low number of professionals equipped to handle crises of such proportions have impacted healthcare systems across the world.

Therefore, it is important for countries to prioritise and heavily invest in revamping their healthcare systems in a timely fashion.

“Stakeholders globally must continue to prioritise health by ensuring equitable access to care as a core part of any national agenda, and focusing on the health of the planet to shore up against and avert future health risks,” said Kelly McCain, Head, Healthcare Initiatives Shaping the Future of Health and Healthcare, WEF.

 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Views | Enhancing food security through alternative proteins

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

India, because of its agricultural biodiversity and advanced biopharma sector, can be a market leader in alternative protein sector and as the chair of the G20 must build international collaboration to develop this solution.

Climate change has borne witness to the interconnectedness of our planet and the need for collective action for change. Two days before the commencement of India’s G20 Presidency, the World Bank released a report on investment opportunities in India’s cooling sector which warned that India could be one of the first places in the world to experience heat waves that break the human survivability limit. It went on to forecast that by 2030, India may account for 34 million of the projected 80 million global job losses from heat stress associated productivity decline. This report makes India’s theme for its G20 presidency “One Earth, One Family, One Future” extremely relevant.

The G20 working group meeting in Mumbai, is amongst other issues, focusing on food and energy security. Food security has been a priority issue on the G20 agenda, and the climate crisis has and will only exacerbate this issue. The State of Food Security and Nutrition in the World 2022 report highlighted the need to transform agri-food systems making them more resilient and providing sustainable nutritious diets globally. In 2021, an estimated 828 million people were affected by hunger, 45 million children under the age of five were suffering from wasting and 16.3 percent of India’s population was undernourished. It cautions us that we are moving away rather than towards the 2030 zero hunger Sustainable Development Goal.

The world’s population is increasing and by 2050 is expected to reach 9.7 billion. Our food system is highly reliant on animal agriculture which harms the climate. We now produce more than 340 tonnes of meat annually; compared to 70 million tonnes of meat in the 1960s.

Anthropogenic greenhouse gas (GHG) emissions from livestock amount to 14.5 percent of total emissions and 44 percent are composed of methane. Over 20 years, methane’s global warming impact is 80 times that of carbon dioxide. Livestock accounts for 32 percent of human-caused methane emissions.

According to the United Nations Environmental Programme, reducing methane livestock-related emissions are critical. It is for this reason that COP26 saw the signing of the Global Methane Pledge (GMP) in which over 100 countries agreed to a 30 percent reduction in methane emissions by 2030. At COP 27 150 countries endorsed the GMP and more than 50 countries developed national methane action plans. A GMP Food and Agricultural Policy which focuses on increasing innovation to combat methane emissions was also launched.

Alternative proteins (plant based and cultivated meat) provide an opportunity for us to push the needle on issues ranging from food security to climate change; much like renewable energy and electronic vehicles, they help us live the life we are used to sustainably. In the global north, it can help reduce GHG emissions from food consumption and in the global south can help bridge nutritional gaps. Plant based meats are made from plant-based raw materials; they taste, feel, and look like meat; however, are far more sustainable. Cultivated meat (CM) is made by taking a few animal cells which are then multiplied in a sterile facility. On a cellular level, it is the same as conventional meat. It has the nutritional value that meat would have without the negative externalities. For example, in ten years, if cultivated beef is prepared using renewable energy, it will emit 92 percent less GHGs than conventional beef available today.

The international plant-based food market is expected to grow to USD 77.8 billion by 2025 and USD 161.9 billion by 2030. The CM economy is expected to be worth USD 450 billion by 2040.

Governments around the world have, to varied extents, provided support to the alternative protein sector. Singapore, for example, has given regulatory approval for cultivated meat to be sold commercially. It has included alternative proteins to achieving their goal of meeting 30 percent of their nutritional needs locally by 2030. The island nation has launched a sustainable foods platform which helps companies fast track and scale their products and its holding company, Temasek, has invested more than USD 5 billion in agri-foods enterprises alternative proteins being a key area of focus. Last month, a cultivated meat company in the United States, Upside Foods, has been granted approval from the Food and Drug Administration for their lab grown chicken. Governments of the United Kingdom, Denmark, Germany, Japan, Qatar, and Canada have invested in and are supporting the development of these sectors nationally. However, a key missing piece of the puzzle is global intergovernmental cooperation.

India, because of its agricultural biodiversity and advanced biopharma sector, can be a market leader in this sector and as the chair of the G20 must build international collaboration to develop this solution. Greater research needs to be conducted on how climate hardy crops such as millets and pongamia seeds can be used as raw materials to develop such novel foods and empower vulnerable farming communities. Policy options ranging from creating a favourable regulatory framework, providing economic incentives such as tax breaks, developing grant schemes for research, building structures within the government that focus exclusively focus on the development of alternative proteins and leveraging the power of nudges to encourage consumption of these novel foods must be explored.

Start-ups are developing plant-based products such as kheema and chicken kebabs. While the government has expressed interest in the sector and grants for research have been made, a strategic interdepartmental cross sectoral effort is needed to align and enhance government programmes to develop a cost competitive local alternative protein ecosystem.

In 2021, global investment in renewables was set to rise to USD 1.9 trillion and in comparison, alternative protein companies raised USD 5 billion. While there is tremendous interest from private investors in this sector, government investment needs to be increased and global intergovernmental cooperation and support must be galvanised to effectively use this technology to feed the world nutritious food sustainably. It is the need of the hour and ought to feature on India’s national and the G20 agenda.

 

—The author Ambika Hiranandani is an alternative protein enthusiast and has just completed an MPhil in Public Policy from the University of Cambridge. 

 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Millions of Britons cutting back on healthy meals as cost-of-living rises in UK

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Half of UK households are cutting back on meals, according to a survey conducted by consumer group ‘Which?’.

Millions in the UK are skipping meals in the current cost-of-living crisis, the consumer group ‘Which?’ warned on Thursday. The group has already forecast risks that fuel poverty, following the UK government’s move to curb its energy price freeze.

The consumer group said that half of UK households are cutting back on the number of meals, according to a survey of 3,000 people. A similar proportion is finding it difficult to eat healthy meals, while almost 80 percent feel it is unaffordable.

Separately, the consumer group stated that the UK government’s decision to curb its energy price freeze will lead to millions being unable to adequately heat their homes.

Newly-appointed Finance Minister Jeremy Hunt on Monday announced that the government will pull the plug on the flagship energy price freeze in April next year instead of late 2024.

“The government’s decision to end universal energy support in April risks throwing millions of households across the country — not just the most financially vulnerable — into fuel poverty,” warned Rocio Concha, head of policy and advocacy at Which?

The price freeze was aimed at protecting consumers from sky-high domestic fuel costs, which soared after energy producer Russia declared war on Ukraine. Thus, if the energy price freeze ends, the government needs to clarify how the people struggling to make ends meet will be supported and are not left out in the cold.

The UK has been blighted by strikes this year, as workers protest over wages that have failed to keep pace with runaway inflation. As per the retail prices index, inflation soared to 12.6 percent in September from 12.3 percent in August.

Earlier, the Food Foundation charity also said, one in five low-income families experienced food insecurity in September, which means more people went hungry last month than during the chaotic first few weeks of the COVID-19 lockdown in 2020.

As per the foundation’s tracker, hunger levels have more than doubled since January with nearly 10 million adults and 4 million children unable to eat regular meals last month, the Guardian reported.

Due to the decision on the energy price freeze, people will be faced with “heat or eat” choices, where they are expected to rein in food spending further, while due to the recent squeeze some households are too poor to afford either.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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India, Israel, UAE, US unveil joint food security, energy initiatives at first I2U2 meet

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

After Quad, it’s I2U2. US President Joe Biden, Israeli PM Yair Lapid, UAE President Mohamed bin Zayed, and PM Modi attended the virtual forum. In the pipeline: A $2-billion infusion by UAE for a network of food parks across India and a 300 MW clean energy plant in Gujarat.

As they virtually convened for the first leaders’ conference of the ‘I2U2’ Group, the leaders of Israel, India, the United States, and the United Arab Emirates unveiled two major collaborative initiatives in the areas of food security and clean energy.

The joint statement stated that “the unique grouping of countries aims to harness the vibrancy of our societies and entrepreneurial spirit to tackle some of the greatest challenges confronting our world, with a particular focus on joint investments and new initiatives in water, energy, transportation, space, health, and food security.”

US President Joe Biden, Israeli Prime Minister Yair Lapid, UAE President Mohamed bin Zayed, and Indian Prime Minister Narendra Modi all attended the virtual meet.

Also read: PM Narendra Modi in I2U2 Summit 2022

The communiqué stated that the I2U2 nations will also use their respective private sectors to advance low carbon development pathways, enhance public health and access to vaccinations, co-create novel approaches to waste management, and encourage the advancement of green technology.

The countries stressed their support for Israel’s integration in the region, drawing a connection between the Abraham Accords normalisation agreements and the formation of forums such as the I2U2.

They also welcomed other new regional groupings such as the Negev Forum, which consists of Israel, the UAE, Bahrain, Morocco, Egypt and the US.

The communiqué stated that the leaders spoke about creative approaches to ensuring longer-term, more diversified food production and food distribution networks that can better manage global food shocks.

Also read: India-Japan key pillars of stable, secure Indo-Pacific region: PM Modi pens op-ed in Japanese newspaper

The following initiatives were highlighted by the I2U2 leaders:

In the first, the UAE will invest $2 billion to build a network of food parks throughout India that will use eco-friendly technology to cut down on food waste, preserve fresh water, and use renewable energy sources.

In the partnership, India will contribute land and include its farmers in the project, while the US and Israel will push their respective corporate sectors to contribute their knowledge for the effort, which will combat food insecurity in South Asia and the Middle East.

According to the joint statement, the second effort would see the development of a 300 megawatt (MW) hybrid renewable energy plant in Gujarat, that will combine solar and wind power with a battery energy storage technology.

The project’s $330-million feasibility study was funded by the US Trade and Development Agency, and with the support of the US and Israeli governments, and Emirati businesses are looking into the investment potential.

The project would help India get closer to its objective of acquiring 500 GW of non-fossil fuel capacity by 2030 and transform the nation into a centre for renewable energy on the international stage.

The leaders reaffirmed their commitment to use well-established markets to develop more innovative, inclusive, and evidence-based solutions to improve food security and the sustainability of food systems.

The leaders reaffirmed that “these are only the initial stages of a long-term strategic alliance to support programmes and investments that enhance the movement of people and products across hemispheres, boost sustainability, and improve resilience through cooperative research and technology collaborations”.

Also read: Quad marked its importance in the world forum in a short duration, says PM Narendra Modi

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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National Conference on Food and Nutrition Security to facilitate cross learning, disseminate best practices for PDS schemes

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

At the conference, discussions will take place on food fortification, diversification of food basket, crop diversification, integrated Annavitran Portal 2.0, reforms in PDS and storage sector.

The Department of Food and Public Distribution will organise a National Conference on Food and Nutrition Security on July 5. “The conference is aimed at facilitating cross learning, disseminating best practices for schemes under Public Distribution System (PDS) and strengthening the focus on nutritional security,” the Ministry of Consumer Affairs, Food & Public Distribution said in a statement.

Discussions will take place on food fortification, diversification of food basket, crop diversification, integrated Annavitran Portal 2.0, reforms in PDS and storage sector. Best practices being followed in some of the states will also be shared for wide replication,” the statement said.

Union Minister Piyush Goyal will address the conference. The conference will be attended by Sadhvi Niranjan Jyoti and Ashwini Kumar Choubey, Ministers of State (Consumer Affairs, Food and Public Distribution) as well as ministers of food and civil supplies of states and union territories, the statement said.

Also Read: Government unlikely to extend free foodgrain scheme for the poor

The Ministry said that the conference would serve as a “platform to reflect upon the challenges and opportunities in the true spirit of cooperative federalism for achieving the transformation of the food and nutrition security ecosystem in the country.”

India’s Targeted Public Distribution System, under the National Food Security Act, 2013 (NFSA) is the largest public food-security program in the world, the statement said. The system manages the requirements of food security of about 80 crore beneficiaries across the country.  via the network of over 5.33 lakh fair price shops. “The food security response of the Government through Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) combined with One Nation One Ration Card (ONORC) during COVID-19 pandemic served as a lifeline for the people and is being hailed globally as a shining example for its efficiency and sensitivity towards poor and vulnerable sections of the society,” the statement said.

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
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nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
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