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PM Narendra Modi attends business meeting in Geneva

Published By : Admin | June 6, 2016 | 13:49 IST
PM Modi meets Swiss CEOs in Geneva, Switzerland
India's economy growing rapidly; Swiss strengths can be beneficial: PM to CEOs
India not just a market of 1.25 billion, but has the skills & a Govt which is open to business: PM to Swiss CEOs
India wants to have manufacturing of global standards. Hence, Swiss model of skill development very relevant: PM
PM Modi discusses trade, technology, skill development, renewable energy with Swiss President

The Prime Minister, in his third leg of the five nation tour, held a business roundtable with Swiss CEOs in Geneva today. The focus was on deepening the economic ties as the CEOs across several sectors joined the meeting. A virtual who-is-who of the Swiss business including ABB, Lafarge, Novartis, Nestlé, Rieter, Roche etc. joined the Round Table with PM.

Addressing the business leaders the Prime Minister said that India's economy is growing rapidly and the coming together of our development needs and Swiss strengths can be beneficial. He told that he is glad that the economic linkages between the two nations are strong and vibrant. The Prime Minister said that India is not just a market of 1.25 billion, we have skills and a government which is open to business. He added that India wants to have manufacturing of global standards and hence the Swiss model of skill development is very relevant to it.

Earlier in the day, the Prime Minister reviewed the multifaceted bilateral ties between India and Switzerland with the Swiss President Schneider-Ammann. Collaboration in trade, technology, skill development, renewable energy were discussed during the talks. The Prime Minister shared the views that the common commitments, values, people-to-people and economic ties will take India-Switzerland relations to new heights.

A group of Indian scientists and students at CERN also met the Prime Minister in Geneva today.

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Minimum Support Prices (MSP) for Raw Jute for 2025-26 Season
January 22, 2025

The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Shri Narendra Modi, has approved the Minimum Support Prices (MSP) of Raw Jute for Marketing season 2025-26.

The MSP of Raw Jute (TD-3 grade) has been fixed at Rs.5,650/- per quintal for 2025-26 season. This would ensure a return of 66.8 percent over the all India weighted average cost of production. The approved MSP of raw jute for Marketing season 2025-26 is in line with the principle of fixing MSP at a level of at least 1.5 times all India weighted average cost of production as announced by the Government in the Budget 2018-19.

The MSP of Raw Jute for Marketing season 2025-26 is an increase of Rs.315/- per quintal over the previous Marketing season 2024-25. Government of India has increased MSP of Raw jute from Rs.2400 /-per quintal in 2014-15 to Rs.5,650/- per quintal in 2025-26, registering an increase of Rs. 3250/- per quintal (2.35 times).

The MSP amount paid to Jute growing famers during the period 2014-15 to 2024-25 was Rs. 1300 Crore while during the period 2004-05 to 2013-14, amount paid was Rs. 441 Crore.

Livelihood of 40 Lakh farm families directly or indirectly depends on Jute Industry. About 4 Lakh workers get direct employment in Jute mills and trade in Jute. Last year jute was procured from 1 Lakh 70 thousand farmers. 82% of Jute farmers belong to West Bengal while rest Assam and Bihar have 9% each of jute production share.

The Jute Corporation of India (JCI) will continue as Central Government Nodal Agency to undertake Price Support Operations and the losses incurred, if any, in such operations, will be fully reimbursed by the Central Government.