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Bengaluru, Drone manufacturer <keyword id="4610420" type="General" weightage="20" keywordseo="Garuda-Aerospace" source="Orion">Garuda Aerospace</keyword> said on Tuesday it has secured an order of 400 Agri Kisan Drones from Indian Farmers Fertilizer Cooperative Limited (<keyword id="74204" type="General" weightage="20" keywordseo="iffco" source="Orion">IFFCO</keyword>). This takes Garuda <keyword id="84758" type="General" weightage="20" keywordseo="aerospace" source="Orion">Aerospace</keyword>'s order book tally to 10,000 drones for this year within the first three months, it said in a statement. "The collaboration between Garuda Aerospace and IFFCO aims to revolutionise the agricultural sector by introducing the Garuda Kisan Drone at the 'IFFCO Drone Yatra' in Karnataka. These state-of-the-art drones will enable farmers to utilise Nano Urea spraying through Precision Agriculture Drones, maximising their efficiency and productivity," it said. According to the statement, IFFCO has launched a nationwide campaign to procure 2,500 'Kisan Drones' as spray solutions for their products -- Nano Urea and Nano DAP. This initiative not only supports the development of around 5,000 rural entrepreneurs trained in drone spraying but also promotes sustainable agriculture and holistic cooperative development, it said.

Garuda Aerospace bags 400 Agri Kisan drone orders from IFFCO

Prime Minister <keyword id="6354477" type="General" weightage="80" keywordseo="narendra-modi" source="Orion" topicspecial.url="http://economictimes.indiatimes.com/news/narendra-modi" medley.seotitle="narendra-modi" medley.uid="85626789" medley.msid="85626789" medley.seopath="magazines/panache/panache-people-101/narendra-modi" medley.containers="panache-people-101" medley.title="Narendra Modi">Narendra Modi</keyword> on Monday released the 12th instalment of Rs 16,000 crore under the PM <keyword id="7283018" type="General" weightage="100" keywordseo="kisan-samman-nidhi" source="Orion">Kisan Samman Nidhi</keyword> which will be credited to the bank accounts of almost 10 crore farmers through direct benefit transfer. He also inaugurated 600 Kisan <keyword id="15280550" type="General" weightage="80" keywordseo="samridhi-kendras" source="Orion">Samridhi Kendras</keyword> and the One Nation One Fertiliser Scheme during the Kisan Sammelan which opened in the national capital. Modi said on the occasion that more than Rs 2 lakh crore has been transferred to farmers' accounts and it has helped them in managing the input cost. He informed that the Government is providing subsidies for essential fertilisers such as urea and this year itself Rs 2.5 lakh crore urea subsidy had been given while emphasising that the country needs to become self-sufficient in agriculture. Modi said the subsidies are being given as international prices of urea and <keyword id="175243" type="General" weightage="50" keywordseo="dap" source="Orion">DAP</keyword> are becoming costlier. He added that fertilisers will be rebranded as "Bharat" and will help in reducing their prices as transportation costs would be controlled. Addressing the gathering of farmers and <keyword id="6448117" type="General" weightage="80" keywordseo="agri" source="Orion">Agri</keyword> startups, the Prime Minister informed that measures are being taken to modernise agriculture and that the Kisan Samridhi Kendras will facilitate this process. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/ahead-of-diwali-delhis-air-quality-dips-to-poor-category/articleshow/94913826.cms">Ahead of Diwali, Delhi's air quality dips to 'poor' category</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/the-pioneer-of-ors-dilip-mahalanabis-passes-away-at-88-in-kolkata/articleshow/94906697.cms">The pioneer of ORS Dilip Mahalanabis passes away at 88 in Kolkata</a>

Kisan Samman Nidhi gets its 12th instalment of Rs 16,000 cr, will reach 10 cr farmers

Energy, metals and agriculture prices have all tumbled from their March peak on inflationary recession fears amid a slew of economic warning signs, but a commodity bust is far from inevitable, S&amp;P Global Commodity Insights said in a report. The commodity market boom is over, the report said. Since early 2020, more and more analysts have been championing the idea of a new commodity supercycle, with an economic recovery turbo-charged by low interest and pandemic-led fiscal stimulus measures, and as investment into decarbonization projects accelerated to meet net-zero targets. Global manufacturing is creaking, with the July <keyword id="104215" type="General" weightage="80" keywordseo="pmi" source="Orion">PMI</keyword> data, a leading barometer of economic health, at its lowest in two years. The <keyword id="6356435" type="General" weightage="80" keywordseo="us-federal-reserve" source="Orion">US Federal Reserve</keyword> has raised interest rates by 75 basis points for the second month in a row in a bid to thwart runaway inflation at over 9 per cent in June. And it's a similar pattern of inflation risks and monetary tightening seen across Europe. S&amp;P <keyword id="9589724" type="General" weightage="80" keywordseo="global-platts" source="Orion">Global Platts</keyword> Analytics sees global GDP growth below 3 per cent in 2022 and "the balance of risks is clearly on the downside with recession probabilities rising" amid "very concerning" inflation trends, after 2021's booming GDP growth of 6 per cent, <keyword id="12991687" type="General" weightage="80" keywordseo="paul-hickin" source="Orion">Paul Hickin</keyword>, Associate editorial director, S&amp;P Global Commodity Insights said. Oil and agriculture prices have also come off March highs, with the key <keyword id="4942453" type="General" weightage="80" keywordseo="dated-brent" source="Orion">Dated Brent</keyword> crude benchmark and the <keyword id="6358826" type="General" weightage="20" keywordseo="russia" source="Orion">Russia</keyword>n wheat price falling by close to 20 per cent. Energy and agriculture have not fallen at the same rate as metals given tighter supply balances, with Russia a crucial energy and crops supplier, amid uncertainties that these crucial commodities will continue to be exported at the same rate. The key debate is how high prices are leading to demand destruction amid fears of an inflationary recession and how much commodities are trading off their own fundamentals and still tight supply and demand balances. If oil and wheat stay high despite the economic weakness, even more damage could be inflicted on the global economy and, ultimately, commodity demand, pointing to the urgency of OPEC+ to bring on extra barrels and the US to keep strategic petroleum reserves flowing, the report said. Dated Brent remains in triple digits after peaking at close to $140/b in March and well above the $80/b at the start of 2022, while Russian wheat 12.5 per cent FOB Black Sea is also still comfortably above levels seen at the start of the year. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/covid-19-monkeypox-tomato-fever-zika-virus-india-has-its-hands-full-with-these-outbreaks-and-more/slidelist/93296406.cms">Covid-19, Monkeypox, tomato fever – India has its hands full with these outbreaks and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/psu-banks-near-all-time-high-as-analysts-expect-a-rerun-of-2004-05-corporate-capex-cycle/articleshow/93296508.cms">PSU banks near all time high as analysts expect a rerun of 2004-05 corporate capex cycle</a>

The commodity boom is over across energy, metals and agri products: S&P

New Delhi, <keyword id="1564214" type="COMPANY" weightage="20" keywordseo="the-Enforcement-Directorate">The Enforcement Directorate</keyword> (ED) on Wednesday said it has arrested three promoters of the <keyword id="4334121" type="PERSON" weightage="20" keywordseo="agri-gold-group">Agri Gold Group</keyword> of Companies in a Ponzi Scheme Fraud Case worth ₹6,380 crore. Those arrested have been identified as Avva Venkata Rama Rao, <keyword id="10482453" type="COMPANY" weightage="20" keywordseo="avva-venkata-seshu-narayana-rao">Avva Venkata Seshu Narayana Rao</keyword>, Avva Hema Sundara Vara Prasad, who are the main accused under the sections of the prevention of money laundering act (PMLA). The accused were produced before <keyword id="10482454" type="COMPANY" weightage="20" keywordseo="the-ed-pmla-court">the ED PMLA Court</keyword>, Hyderabad, which granted them 14-day judicial custody. The ED had filed a case on the basis of multiple FIRs lodged in the Andhra Pradesh, Telangana and Karnataka. The scam was perpetrated by Avva Venkata Rama Rao through Agri Gold Group of Companies. Avva Venkata Rama Rao had earlier worked in the Golden Forest CIS Fraud scheme. The ED claimed that having learnt the tricks of the trade in that scheme, he hatched a well-planned conspiracy and along with his seven brothers and other associates set up more than 150 companies and started collecting deposits from general public with a promise of providing developed plots/farm lands or withdrawal at a high rate of return on maturity/pre-term. It said that thousands of commission agents were engaged to lure people with various schemes for hefty commission and managed to collect ₹6,380 crore from 32,02,628 such investors. In the end, the gullible investors neither got plots nor could recover their deposits. The group collected the deposits illegally from across the country. According to ED officials, the company duped lakhs of investors from Andhra Pradesh, Telangana, Karnataka, Odisha, Tamil Nadu, Maharashtra, Chhattisgarh and Andaman and Nicobar islands. The ED claimed that the modus operandi involved encouraging the gullible investors to pay the desired deposits either directly or through the agents under the pretext of real estate deal. "These companies did not mention either the actual market value of the land or its location or its boundaries or survey numbers or the permissions required to be obtained for the layouts from the concerned authorities. "They tried to color it as a real estate business, but in reality it was an unregulated unlicensed collective investment scheme," it said. The ED further stated that the Agri Gold Group of Companies did not obtain permission from RBI to collect such deposits. Even SEBI has reported that the business of <keyword id="10482452" type="COMPANY" weightage="20" keywordseo="the-agri-gold-farm-estates">the Agri Gold Farm Estates</keyword> India Private Limited was nothing but a Collective Investment Scheme and ordered the company to stop taking further deposits and return the money to the depositors. "Instead of complying with the directions of the SEBI in letter and spirit, accused Avva Venkata Rama Rao opened new Companies and started collecting deposits in the names of new companies on the pretext of real estate business with the help of an army of commission agents, thus, turning this into a ponzi scam," the ED said. Although the accused collected deposits from 32 lakh investors, they never developed lands sufficient to give plots to all the investors. Even by their unverified claims, at the end they had only 5.5 lakh plots available with them. "Considering the huge discrepancy in the amount of land available, the group should have used all their resources in identifying, buying and developing more land parcels. Instead, Avva Venkata Rama Rao and his family went on a siphoning spree and illegally diverted the public deposits and invested in myriad verticals and in private companies which were directly owned by their family," the ED said. During probe it was revealed that the accused also set up companies abroad and diverted large amounts of funds to off-shore entities. "Their names also figured in the Paradise Leaks and they had incorporated companies with the help of the infamous Mossack Fonsenca in Cayman Islands," the ED said. Earlier, searches were conducted at the residences of Avva Venkata Rama Rao and other directors including the residences of auditors at Vijayawada and Hyderabad. Various property related documents, cash amount of ₹22 lakh, digital devices and other documents were recovered and seized. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-infosys-wipro-jubilant-foodworks-bajaj-auto-majesco-and-others/articleshow/79909712.cms">Top stocks to watch – Infosys, Wipro, Jubilant FoodWorks, Bajaj Auto, Majesco, and others</a> <a href="https://www.businessinsider.in/stock-market/news/there-are-one-of-only-17-indian-companies-out-of-500-that-aced-the-du-pont-test/articleshow/79911627.cms">There are one of only 17 Indian companies out of 500 that aced the Du Pont test</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-buyback-offer-details-and-700-million-metro-ag-deal-drives-share-price/articleshow/79911875.cms">Wipro offers 10% more to buy back shares and signs a $700 million deal with Metro AG – everything that’s driving the IT services stock higher today</a>

You Searched For "agri" and got 4 results

Garuda Aerospace bags 400 Agri Kisan drone orders from IFFCO

PTI

Kisan Samman Nidhi gets its 12th instalment of Rs 16,000 cr, will reach 10 cr farmers

IANS

The commodity boom is over across energy, metals and agri products: S&P

IANS

Three promoters of Agri Gold Group arrested for Ponzi Scheme Fraud Case worth ₹6,380

IANS

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