December 2019 | Page 2 of 29 | Business News This Week

With its name echoing in farmer protests against agri reform bills, Adani Group has said it neither buys food grains from farmers nor decides the pricing of food grains. The port-to-energy conglomerate said it only develops and operates grain silos for Food Corporation of India (FCI). "The company has no role in deciding the volume of storage as well as pricing of grain as it only a service/ infrastructure provider for the FCI," it said in a statement posted on its Twitter handle. FCI buys food grains from farmers and stores them in silos built through a public-private partnership. While private players are paid a fee for building and storing the food grains, the ownership of the commodity as well as its marketing and distribution rights, belong to FCI. FCI, it said, controls the procurement and movement of food grains for the Public Distribution System (PDS). The statement came as farmer groups in their agitation against the three farm reforms bills that among other things give farmers the freedom to sell their produce to anyone, alleged that the legislations were brought to favour Ambani and Adani. Some farm groups have alleged that the Adani group is building grain storage facilities for hoarding food grains and selling them at a higher price later. "We do not own any food grains procured from farmers, and are in no way connected to the pricing of grains," it said. Adani Group said it is in the business of developing and operating grain silos for FCI since 2005. It sets up storage infrastructure after winning competitive and transparent tender by the Government of India. Private rail lines that it built as part of these tenders are to facilitate the movement of grains from silo units to their distribution centres across India, the statement said. FCI, it said, awarded such contracts with a view to modernising the storage and transport infrastructure in the country so that food grains could be safely stored and quality stuff is supplied to the PDS system. "Using ongoing issues for mudslinging is a clear attempt to not only tarnish the reputation of a responsible corporate but also misguide public opinion and hurt their sentiment," Adani Group said. FCI has partnered with private investors to commission high tech silos equipped with latest fumigation and preservation techniques for food grains for two to four years and dispatch it in bulk form through special trains across India. It is estimated that since inception, some of the prominent private food storage facilities have registered an average direct receipt, from farmers, of around 80,000 tonnes per year in the last five years.

Adani Forays into Cold Chain Logistics with INR 296 Cr acquisition of Snowman Logistics

December 29, 2019 Neel Achary Comments Off

Adani Logistics Limited (“ALL”), a wholly owned subsidiary of Adani Ports and SEZ Limited (“APSEZ”), today announced it has signed definitive agreements to acquire 40.25% stake in Snowman Logistics Ltd. from Gateway Distriparks Ltd. The […]

UNISOC Launches all new AIoT Solution V5663

December 29, 2019 Praveen Comments Off

is bringing AIoT onto the fast lane and turning it into the core driver to the Internet of Everything. However, AIoT is more than a “Lego-like” combination of AI and IoT; rather, it is […]

Pi Lo Shudh Pani Seva Foundation reaches new heights, Served 19,253,961.25 liters of water in 2019

December 29, 2019 Praveen Comments Off

Pi-Lo Shudh Pani Seva Foundation, a non-profit organization serving water across various regions of the country without taking any monetary support from the Government has achieved a golden milestone this year. The NPO served free […]

LV Prasad Eye Institute, IIM Ahmedabad and Indian Institute of Public Health (IIPH), Hyderabad win first of its kind Wellcome Trust/ DBT India Alliance CRC grant of about INR 10 crore

December 29, 2019 Praveen Comments Off

An interdisciplinary team of researchers from the LV Prasad Eye Institute (LVPEI), IIM Ahmedabad and the Indian Institute of Public Health (IIPH), Hyderabad have won a unique Wellcome Trust/ DBT India Alliance Clinical/Public Health Research […]

Unlock the business benefits of centralised HCM with Paysquare’s industry-leading payroll platform

Unlock the business benefits of centralized HCM with Paysquare’s industry-leading payroll platform

December 28, 2019 Praveen Comments Off

Strengthening its legacy of offering disruptive payroll solutions, Paysquare has unveiled a unique platform to enable enterprises in unlocking the endless business benefits of centralised HCM. The platform has been specifically tailored for enterprises with […]

ICICI Academy for Skills trains over 3,500 women in Lucknow

December 28, 2019 Praveen Comments Off

ICICI Academy for Skills (ICICI Academy) is an institute set up by the ICICI Foundation for Inclusive Growth (ICICI Foundation) to provide free vocational training to the youth from economically weaker sections to help them […]

Evolet to plant one tree for every e-bike sold

December 28, 2019 Praveen Comments Off

Evolet India, a Gurugram based electric vehicle Startup, has taken a pledge to plant and maintain a tree for every e-scooter sold. At the promotion of Bollywood movie ‘Sab Kushal Mangal’ starring Akshaye Khanna, Sqn. […]

Television Star Sonyaa Ayodhya roped in Izhaar to take charge of her wedding gifts

December 28, 2019 Praveen Comments Off

Kasautii Zindagii Kay actress Sonyaa Ayodhya, who recently tied knot with beau Harsh Samorre in Jaipur in December 2019, has approached bespoke brand Izhaar to do the gifts for her guests who were part of […]

3 Ways To Increase Your Business’s Sales Leads

December 28, 2019 Neel Achary Comments Off

One of the most important aspects of running a business is attracting new leads. Once you bring them in, it’s then your job to convert these leads to customers. Ultimately, it’s all a numbers game. […]

Surgeons eliminate a rare & Cricket ball sized Prostate Cancer Tumor to save 47-year-old

December 28, 2019 Praveen Comments Off

A 47-year-old Mumbai-based Real Estate Contractor never knew his three-decade long Gutkha (Tobacco product) addiction, would result in removal of multiple internal organs and a life-threatening disease. Completely unaware of the severity of the condition, […]