4th Global RE-INVEST Renewable Energy Investors' Meet & Expo Held in Gujarat.
The 4th Global RE-INVEST Renewable Energy Investors' Meet & Expo was held in Gujarat, showcasing India's commitment to clean energy and sustainable growth. The event brought together key global investors, policymakers, and industry leaders to discuss opportunities in the renewable energy sector. Organized by the Ministry of New and Renewable Energy, it aimed to boost investment in solar, wind, and other renewable projects across India. With a focus on innovation, technology, and financial solutions, the event highlighted India's progress toward achieving its ambitious renewable energy targets and transitioning to a greener economy.
India is aiming to become a global leader in renewable energy by significantly expanding its green energy capacity.
Gujarat, with its abundant solar and wind resources, plays a crucial role in India’s renewable energy roadmap.
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Rhea Singha from Gujarat Crowned Miss Universe India 2024.
Rhea Singha from Gujarat has been crowned Miss Universe India 2024, earning recognition for her beauty, poise, and advocacy for social causes. The grand finale took place in a dazzling ceremony, where contestants from across the country showcased their talents and unique personalities. Rhea, a model and a passionate advocate for environmental sustainability, expressed her gratitude for the opportunity to represent India on an international platform. She aims to raise awareness about pressing social issues, including climate change and women's empowerment, during her reign. With this title, Rhea is set to compete at the upcoming Miss Universe pageant later this year.
Rhea Singha's victory highlights the growing importance of youth representation in beauty pageants and social advocacy.
Her commitment to environmental issues inspires young women to engage in community service and promote sustainable practices.
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Karnataka, Gujarat, and Tamil Nadu Recognized as Major Beneficiaries of 1990s Economic Reforms by the Economic Advisory Council to the Prime Minister.
Karnataka, Gujarat, and Tamil Nadu have emerged as the major beneficiaries of the economic reforms initiated in the 1990s, according to a report by the Economic Advisory Council to the Prime Minister (EAC-PM). The reforms, which liberalized the Indian economy, played a pivotal role in driving growth and development in these states. Karnataka's technology sector flourished, Gujarat became a hub for manufacturing, and Tamil Nadu saw significant advancements in industries like textiles and automobiles. The report highlights how these states effectively utilized the opportunities presented by the reforms, contributing to their economic prosperity and setting benchmarks for others.
The economic reforms of the 1990s paved the way for increased foreign investment in India, enhancing growth prospects.
These states have created job opportunities through industrial development, improving living standards and overall economic conditions.
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From 15th to 17th September 2024, PM Narendra Modi was on a visit to three states aimed at boosting infrastructure, health, and education initiatives.
From 15th to 17th September 2024, PM Narendra Modi visited Jharkhand, Gujarat, and Odisha to boost infrastructure, health, and education initiatives. During his visit, he reviewed the progress of key development projects, focusing on enhancing regional infrastructure and improving healthcare and educational facilities. The Prime Minister inaugurated new industrial zones and launched various public welfare schemes aimed at promoting economic growth. He also held discussions with state officials and local communities to address specific challenges and explore growth opportunities. This tour was part of the government's continued efforts to accelerate development across different regions of the country.
The Prime Minister emphasized the importance of collaboration between the central and state governments to ensure effective implementation of development projects.
Local community engagement was highlighted as a crucial factor in addressing regional issues and tailoring solutions to specific needs.
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PM Modi to launch 'Jal Sanchay Jan Bhagidari' initiative in Gujarat.
Prime Minister Narendra Modi will launch the "Jal Sanchay Jan Bhagidari" initiative in Surat, Gujarat, to enhance community involvement in water conservation. This initiative aligns with the "Jal Shakti Abhiyan: Catch the Rain" campaign and aims to mobilise citizens and stakeholders to implement rainwater-harvesting structures, promoting sustainable water management across India. The programme underscores Narendra Modi's call for a "whole-of-society" approach, urging for collective action towards turning every drop of rain into a valuable resource.
Highlighting the necessity of environment and water conservation, the Prime Minister pointed out that India is home to only 4 percent of the freshwater in the world.
Shri Modi expressed happiness towards the inception of public participation in the meaningful efforts of water conservation. He extended his best wishes to the Ministry of Jalshakti, Government of Gujarat and all the stakeholders in the initiative.
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RBI Launches Scheme for Trading and Settlement of Sovereign Green Bonds in International Financial Services Centre (IFSC).
The Reserve Bank of India (RBI) has introduced a new scheme for the trading and settlement of sovereign green bonds within the International Financial Services Centre (IFSC) in GIFT City, Gujarat. This initiative aims to enhance market access and liquidity for green bonds, supporting India's sustainable finance goals. The scheme will allow for more efficient and transparent transactions, providing a boost to the green bond market. It is expected to attract both domestic and international investors, reinforcing India's commitment to environmental sustainability and green financing.
The scheme facilitates streamlined green bond trading, enhancing India's role in global sustainable finance initiatives.
It provides a platform for international investors to engage in India's green bond market, fostering global collaboration.
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IndiaFirst Life Becomes First Indian Life Insurer to Start Operations in GIFT City.
IndiaFirst Life Insurance has become the first Indian life insurer to commence operations in GIFT City, Gujarat. The company’s move into the Gujarat International Finance Tec-City (GIFT City) marks a significant milestone for the Indian insurance sector, enabling it to tap into global opportunities and offer innovative products. GIFT City is India’s first operational smart city and an international financial services hub. By establishing its presence here, IndiaFirst Life aims to expand its reach and provide services to a broader customer base, leveraging the benefits of GIFT City’s regulatory environment and international market access.
IndiaFirst Life plans to introduce globally competitive insurance products in GIFT City.
GIFT City offers IndiaFirst Life access to international clients.
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According to RBI study, Gujarat has surpassed Uttar Pradesh as the top investment destination in FY24.
According to the latest RBI study, Gujarat has overtaken Uttar Pradesh as the top investment destination in the fiscal year 2024. The study highlights Gujarat's growing appeal among investors due to its favorable business environment, robust infrastructure, and effective governance. The state's strategic initiatives and policies have significantly enhanced its attractiveness for both domestic and international investments. Uttar Pradesh, which previously held the top position, continues to be a key player but has been edged out by Gujarat's rapid development and investor-friendly reforms. This shift reflects a broader trend of evolving investment dynamics across India.
Gujarat's industrial growth and improved ease of doing business contribute significantly to its new investment-leading position.
The shift reflects Gujarat's strategic policy reforms and infrastructure enhancements, making it a preferred choice for investors.
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Mynd International Financial Services Centre Launches M1NXT in GIFT City for Global Trade Finance.
Mynd International Financial Services Centre (IFSC) has launched M1NXT, a cutting-edge platform, in Gujarat International Finance Tec-City (GIFT City) to revolutionize global trade finance. This initiative aims to streamline cross-border transactions and offer innovative financial solutions to businesses worldwide. M1NXT is designed to leverage advanced technologies, ensuring efficiency, transparency, and security in global trade operations. By establishing this platform in GIFT City, Mynd IFSC strengthens its commitment to positioning India as a global financial hub, offering unparalleled services in the international trade finance sector.
M1NXT will cater to SMEs and large corporations, enhancing their access to global trade finance solutions.
The platform aims to reduce transaction costs and improve cross-border trade efficiency in emerging markets.
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The Chief Minister of Gujarat inaugurated India’s first MSME Center of Excellence by the Indian American Chamber of Commerce (IACC).
The Chief Minister of Gujarat recently inaugurated the first MSME (Micro, Small, and Medium Enterprises) Center of Excellence in India, established by the Indian American Chamber of Commerce (IACC). This center aims to support and enhance the capabilities of MSMEs across the country by providing advanced resources, training, and technology. The initiative reflects a commitment to boosting the sector's growth and innovation, fostering a more dynamic and competitive business environment. The center will serve as a hub for excellence, helping MSMEs scale their operations and achieve global standards.
The center will offer mentorship programs to guide MSMEs through business challenges and growth opportunities.
It aims to facilitate collaboration between MSMEs and global industry leaders for innovation and knowledge exchange.
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PM Narendra Modi Receives Parimal Nathwani's Book on Gir and Asiatic Lions.
Prime Minister Narendra Modi recently received a copy of Parimal Nathwani's book titled Gir and Asiatic Lions. The book provides an in-depth look into the Gir Forest National Park in Gujarat, which is renowned for its Asiatic lions. Nathwani's work highlights conservation efforts, the ecological significance of the park, and the challenges faced in protecting these majestic creatures. PM Modi expressed his appreciation for the book, acknowledging its contribution to raising awareness about the conservation of Asiatic lions and the importance of preserving their natural habitat for future generations.
The book sheds light on the successful conservation measures taken for Asiatic lions in Gir Forest.
PM Modi lauded Nathwani’s efforts in documenting the rich biodiversity and conservation challenges of the Gir region.
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Gujarat To Provide Rented Accommodation To Construction Workers For Rs 5 Per Day.
On Thursday, Gujarat Chief Minister Bhupendra Patel launched the 'Shramik Basera' scheme, aimed at providing temporary accommodation to nearly 15,000 construction workers at a nominal rate of Rs 5 per day. The Chief Minister performed the ground-breaking ceremony for 17 new dwelling structures in Ahmedabad, Gandhinagar, Vadodara, and Rajkot. This initiative is expected to support workers with affordable housing and improve their living conditions, as stated in an official release.
The scheme aims to improve living standards for construction workers by offering affordable housing options.
The initiative will help ease accommodation challenges faced by workers in major Gujarat cities.
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RBI expands Liberalised Remittance Scheme norms for investment via GIFT IFSC.
The Reserve Bank of India (RBI) has widened the scope of the Liberalised Remittance Scheme (LRS) to include investments through the Gujarat International Finance Tec-City (GIFT) International Financial Services Centre (IFSC). This move allows Indian residents to invest in permitted securities in IFSCs under the LRS, providing more avenues for international investments through this financial hub.
The RBI aims to facilitate greater international investment opportunities for Indian residents by leveraging the infrastructure and regulatory framework of the GIFT IFSC.
Indian investors can now diversify their portfolios with a wider range of financial products and services available within the IFSC ecosystem.
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International Day of Co-operation is celebrated on 06 july 2024.
Union Home Minister and Minister of Cooperation, Shri Amit Shah will address “Sahkar Se Samriddhi” conference on the occasion of 102nd ‘International Day of Cooperatives’ in Gandhinagar, Gujarat on Saturday, 6th July 2024
Theme for the 102nd International Cooperative Day is- “Cooperatives Build a Better Future for All.”
Under the leadership of the Prime Minister Shri Narendra Modi and guidance of Union Minister of Cooperation Shri Amit Shah, Ministry of Cooperation has undertaken more than 54 initiatives.
The conference highlights cooperatives' role in economic growth and community development.
The theme underscores cooperatives' contribution to building a prosperous and equitable future globally.
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ADB and Engie Group Sign Loan Agreement to Build 400MW Solar Power Plant in Gujarat.
The Asian Development Bank (ADB) and Engie Group have signed a loan agreement to construct a 400MW solar power plant in Gujarat, India. This initiative aims to bolster renewable energy infrastructure in the region, supporting sustainable development goals. The project will contribute significantly to Gujarat's renewable energy capacity, promoting clean energy adoption and reducing carbon emissions.
This project will create jobs and boost local economic development. The solar power plant aims to enhance energy security and reduce environmental impact in Gujarat.
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Gujarat Signs MoUs with IBM, Microsoft for AI Enhancement.
The Gujarat government on Saturday signed memorandums of understanding with software giants IBM and Microsoft, and the National Association of Software and Service Companies (NASSCOM) for promoting the use of Artificial Intelligence technologies in the state. In addition to signing memorandums with IBM, Microsoft, and NASSCOM, the Gujarat government aims to establish AI research centers or institutes in collaboration with these entities.
Gujarat partners with IBM, Microsoft, NASSCOM to boost AI technology. Gujarat aims to advance AI technology through collaborations with industry leaders.
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Globally Acclaimed Filmmaker Vinod Ganatra Becomes 1st Indian to Receive 'Nelson Mandela Lifetime Achievement Award' of South Africa.
Globally-acclaimed film-maker Vinod Ganatra has become the first Indian to be conferred the prestigious ‘Nelson Mandela Lifetime Achievement Award’ of South Africa for his contribution to films, an official said here on Tuesday. Ganatra, a well-known film-maker and editor from Gujarat, now based in Mumbai, was honoured with the coveted award at the ongoing 7th Nelson Mandela Children’s Film Festival, for his immense contributions to the world of cinema for kids.
Ganatra has already bagged 36 national and international awards, including the ‘Janakinath Gaur Award’ from Doordarshan for his children’s programme, ‘Baingan Raja.’
Ganatra has been invited to serve on the jury of over a 100 national, regional and international film festivals world over in the past three decades.
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LIC raises holding in agrochem firm PI Industries by 5%.
Life Insurance Corporation (LIC) of India said its stake in PI Industries as an institutional investor has gone past the 5% mark after it acquired 72,000 shares of the agrochemicals firm from the open market at an average cost of ₹3,558.29 each. PI Industries is a leading player in the agro-chemicals space, having strong presence in both domestic and export markets. It has state-of-the-art facilities in Gujarat having integrated process development teams with in-house engineering capabilities. The market capitalisation of the company is Rs 53,488.98 crore, LIC said in a filing.
The holding was raised, as an investment function, from 4.95% (75,19,910 shares) to 5% (75,91,910 shares) on May 30 with share pricing cost at Rs 3,551.15 per share.
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Jetha Ahir Is Elected As NAFED Chairman.
Shehra Jetha Ahir, a BJP MLA who formerly served as deputy speaker of the Gujarat Assembly, was chosen unopposed as head of the National Agricultural Cooperative Marketing Federation of India (NAFED). Senior officials said that Ahir won the support of Rajkot MP Mohan Kundariya to become NAFED chairman in the election held in Delhi on May 28.
As chairman of NAFED, Ahir will be responsible for developing and executing policies that promote cooperative marketing, increase farmer income, and assure the general expansion of the country's agricultural sector.
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IFSCA sets up committee to position GIFT CITY as global commodity trading hub.
The International Financial Services Centres Authority (IFSCA) has set up an expert committee to position GIFT IFSC in Gujarat as a ‘Global Trading Hub’. The 21-member expert committee will be chaired by Rajeev Kher, former commerce secretary, according to an official release here. The committee will propose steps to promote GIFT IFSC as a Global Commodity Trading Hub by studying how key global commodity trading centres operate, and specially identify areas with strong synergies for the GIFT IFSC financial services industry. It will also identify key groups of commodities such as metals, energy/ hydrocarbons, agricultural commodities, etc, that should be given high priority in developing the IFSC ecosystem.
The panel will identify areas with strong synergies with the GIFT IFSC financial services industry
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SBI becomes the first bank to be a trading-cum-clearing member of India International Bullion Exchange at the GIFT City in Gujarat.
The State Bank of India (SBI) on Tuesday announced that it has secured the distinction of being the first bank to become a trading-cum-clearing (TCM) Member of India International Bullion Exchange at the GIFT City in Gujarat. This milestone enables SBI IBU Gift City to conduct trades on the IIBX platform and settle them on behalf of its clients, per an official release.RBI guidelines permitted branches of an Indian Bank in GIFT IFSC to act as a trading member (TM)/trading and clearing member (TCM) of IIBX. The central bank also allowed special category clients (SCC) which are nominated banks in India to import gold through IIBX.The entry of India’s largest bank into the field as a TCM is poised to boost trading volumes at IIBX, the release added.
SBI becomes the first bank to join India International Bullion Exchange at GIFT City.
SBI's IBU Gift City branch can now conduct trades on IIBX and settle them for clients.
RBI permits Indian bank branches in GIFT IFSC to act as trading-cum-clearing members of IIBX.
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Moosa Raza, former Chief Secretary of Jammu and Kashmir and chairman of Southern Indian Education Trust (SIET), died in Chennai.
Moosa Raza, former Chief Secretary of Jammu and Kashmir and chairman of Southern Indian Education Trust (SIET), died in Chennai. Besides serving in J&K, Raza, an IAS officer, also served in Gujarat. He also authored ‘Of Giants and Windmills – An Autobiography’. He was instrumental in negotiations during the armed uprising in Jammu and Kashmir in the late 1980s and early 1990s. Known for his dedication to public service, Mr. Raza was awarded the Padma Bhushan in 2010.
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REC Ltd has received the RBI's approval to set up a subsidiary in IFSC, GIFT City, Gujarat.
REC Ltd has received the RBI's approval to set up a subsidiary in IFSC, GIFT City, Gujarat. The proposed subsidiary will engage in a range of financial activities as a finance company within GIFT, including lending, investment, and other financial services. REC Ltd, under the Ministry of Power and a leading NBFC, has received a ‘No Objection Certificate’ (NOC) from the Reserve Bank of India (RBI) for setting up a subsidiary in Gujarat International Finance Tech-City (GIFT) in Gandhinagar. The GIFT City platform offers a conducive environment for international lending activities coupled with world-class infrastructure.
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The Indian Air Force (IAF) received delivery of the second of the 56 C295 aircraft, which are set to replace its ageing Avro-748 fleet.
The Indian Air Force (IAF) received delivery of the second of the 56 C295 aircraft, which are set to replace its ageing Avro-748 fleet. In September 2021, India formalised the acquisition of 56 Airbus C295 aircraft to replace the legacy Avro fleet of the IAF at a cost of Rs21,935 crore. The total 56 aircraft ordered by the Indian customer, 16 will be produced by Airbus in Seville, Spain. The remaining 40 C295s of the IAF order will be manufactured and assembled--in partnership with Tata Advanced Systems Limited (TASL)--at a Final Assembly Line (FAL) in Gujarat's Vadodara. As part of an industrial partnership, the remaining 40 are going to be produced by Tata Advanced Systems (TASL) in the C295 Final Assembly Line in Vadodara in Western India.
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Reserve Bank of India (RBI) has approved the reappointment of Atanu Chakraborty as the part-time chairman of HDFC Bank for a period of three years effective from 5 May 2024 to 4 May 2027.
Reserve Bank of India (RBI) has approved the reappointment of Atanu Chakraborty as the part-time chairman of HDFC Bank for a period of three years effective from 5 May 2024 to 4 May 2027. Pursuant to the approval by the RBI and based on the recommendation of the Nomination and Remuneration Committee, the board of directors of the bank has approved the reappointment of Atanu Chakraborty as part-time chairman and independent director of the bank. Chakraborty is not related to any other directors or key managerial personnel of the bank. He is not debarred from holding the office of a director by virtue of any Securities and Exchange Board of India (SEBI) order or any other such authority. Atanu Chakraborty is currently a part-time chairman and independent director of HDFC Bank Limited. He served the Government of India for 35 years as a member of the Indian Administrative Service (IAS) in the Gujarat cadre. He has mainly worked in areas of finance and economic policy, infrastructure, petroleum, and natural gas.
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Former Indian wrestler Narsingh Pancham Yadav was elected the Chairman of the 7 member Athletes' Commission of the Wrestling Federation of India (WFI).
Former Indian wrestler Narsingh Pancham Yadav was elected the Chairman of the 7 member Athletes' Commission of the Wrestling Federation of India (WFI). With Narsingh Yadav's election to this post, the process mandated by the world governing body of sports was completed. A total of eight contenders were in the race for the election of seven seats in the commission. After voting, seven members were elected. Apart from Narsingh Yadav, other members elected to the Athletes Commission are as follows: Sahil (Delhi), Smita A S (Kerala), Bhartiya Bhaghei (Uttar Pradesh), Khushboo S Pawar (Gujarat), Nikki (Haryana), Shweta Dubey (Bengal). Narsingh Yadav, a former Commonwealth Games gold medalist, came into the limelight before the 2016 Olympic Games.
The UWW is the international governing body for wrestling. It monitors wrestling at the Olympics and World Championships.
Narsingh Pancham Yadav is an Indian wrestler.
At the 2010 Commonwealth Games, he won the gold medal in the men's freestyle 74 kg category.
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On the sidelines of the India-Kuwait Investment conference 2.0, India and Kuwait inked a MoU aimed at sharing information on technologies and innovations within the financial and regulatory sectors.
On the sidelines of the India-Kuwait Investment conference 2.0, India and Kuwait inked a MoU aimed at sharing information on technologies and innovations within the financial and regulatory sectors. The event, supported by the Indian Business and Professional Council (IBPC), Union of Investment Companies (UIC), and Kuwait Chamber of Commerce and Industry (KCCI), brought together key stakeholders from both nations. The India-Kuwait Investment Conference 2.0, organized by the Embassy with the backing of IBPC, UIC, and KCCI, witnessed the Managing Director of Kuwait Investment Authority (KIA) as the Chief Guest. High-profile representatives from Gujarat International Finance Tec-City (GIFT City), National Investment and Infrastructure Fund (NIIF), and Invest India presented insights and perspectives at the conference. Additionally, representatives from the Indian Business and Professional Council (IBPC) and Confederation of Indian Industry (CII) contributed to the discussions.
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The International Society for Krishna Consciousness (ISKCON) and the National Skill Development Corporation (NSDC) signed a MoU to empower tribal and underprivileged youth across India.
The International Society for Krishna Consciousness (ISKCON) and the National Skill Development Corporation (NSDC) signed a MoU to empower tribal and underprivileged youth across India. The alliance intends to give vocational training to underprivileged people in Uttar Pradesh, Maharashtra, Rajasthan, Gujarat, and Madhya Pradesh. Short-term courses with industry-recognized certificates will be offered through the Skill India Digital Hub platform as part of this strategic cooperation. The purpose is to improve employability and provide trained persons with access to both domestic and foreign career prospects, which NSDC foreign will support.
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NDDB chief Meenesh Shah has been unanimously elected as chairman of National Cooperative Dairy Federation of India Ltd (NCDFI).
NDDB chief Meenesh Shah has been unanimously elected as chairman of National Cooperative Dairy Federation of India Ltd (NCDFI). NCDFI has also elected 8 directors on its board unopposed. 8 directors on the Board unopposed which include, Dr Meenesh Shah, Jharkhand Milk Federation; Dr. Mangal Jit Rai, Sikkim Milk Union; Shamalbhai B. Patel, Gujarat Milk Federation; Randhir Singh, Haryana Milk Federation; K. S Mani, KeralaMilk Federation; Balachandra L. Jarakiholi, Karnataka Milk Federation; Narinder Singh Shergill, Punjab Milk Federation and Sameer Kumar Parida, West Assam Milk Union. Apart from these elected directors, Shri S. Regupathi, Executive Director, NDDB is the nominated director on the Board of NCDFI. Dr. Meenesh Shah has long been acknowledged for his pivotal role and substantial contributions to the dairy cooperative sector, fostering growth and sustainability over the years.
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