AP farmers urged to grow profitable agarwood
Agarwood, a fragrant resinous wood produced by Aquilaria trees, is widely used in perfumes, incense, and traditional medicine. The resin forms when the trees are wounded and infected by fungi, triggering a defense mechanism that produces the valuable oleoresin. This process, known as tylosis, transforms the wood into the dark, aromatic agarwood prized globally, particularly in Gulf countries and Europe, where it symbolises wealth, culture, and hospitality.
Rao noted that agarwood has been used for thousands of years in cultural and religious ceremonies and continues to be a key ingredient in incense sticks and fragrance products. However, overharvesting has depleted natural agarwood supplies, making it a rare and expensive commodity. The price of agarwood varies based on its quality, geographical origin, and cultural applications.
In Tripura, where agarwood is a prominent crop, the state capital Agartala derives its name from the plant. Rao said that agarwood cultivation could be a game-changer for Andhra Pradesh farmers, as the crop matures in just 15 years—half the time required for Srigandha trees—and can be grown as an intercrop in oil palm plantations.
Southern states like Tamil Nadu, Kerala, and Karnataka have already begun cultivating agarwood, and Rao urged Andhra Pradesh farmers to follow suit to capitalize on its high market value.
During the press conference, Rao was joined by G V Seshagiri, chairman and managing director of Mandira Developers. Both addressed local farmers, explaining the cultivation process and the economic benefits of agarwood farming. Rao's initiative aims to promote sustainable agricultural practices while boosting farmers' incomes through this lucrative crop.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
9 hours ago
- Hans India
AP farmers urged to grow profitable agarwood
Vijayawada: Prasada Rao Vaddarapu, a senior IFS officer and director of the Japan International Cooperation Agency (JICA) in Tripura, encouraged farmers in Andhra Pradesh to cultivate agarwood, a high-value crop with significant demand in international markets. Speaking at a media conference here on Thursday, Rao highlighted the potential for agarwood, also known as oudh or gaharu, to generate substantial profits for farmers. Agarwood, a fragrant resinous wood produced by Aquilaria trees, is widely used in perfumes, incense, and traditional medicine. The resin forms when the trees are wounded and infected by fungi, triggering a defense mechanism that produces the valuable oleoresin. This process, known as tylosis, transforms the wood into the dark, aromatic agarwood prized globally, particularly in Gulf countries and Europe, where it symbolises wealth, culture, and hospitality. Rao noted that agarwood has been used for thousands of years in cultural and religious ceremonies and continues to be a key ingredient in incense sticks and fragrance products. However, overharvesting has depleted natural agarwood supplies, making it a rare and expensive commodity. The price of agarwood varies based on its quality, geographical origin, and cultural applications. In Tripura, where agarwood is a prominent crop, the state capital Agartala derives its name from the plant. Rao said that agarwood cultivation could be a game-changer for Andhra Pradesh farmers, as the crop matures in just 15 years—half the time required for Srigandha trees—and can be grown as an intercrop in oil palm plantations. Southern states like Tamil Nadu, Kerala, and Karnataka have already begun cultivating agarwood, and Rao urged Andhra Pradesh farmers to follow suit to capitalize on its high market value. During the press conference, Rao was joined by G V Seshagiri, chairman and managing director of Mandira Developers. Both addressed local farmers, explaining the cultivation process and the economic benefits of agarwood farming. Rao's initiative aims to promote sustainable agricultural practices while boosting farmers' incomes through this lucrative crop.
Time of India
2 days ago
- Time of India
RBI seeks 'borrower ID' to reduce credit score errors
RBI MUMBAI: RBI has mooted a unique, secure borrower identifier to avoid duplication and misreporting of data with credit bureaus, and to improve loan access for borrowers. "Credit information companies rely on credit institutions to provide accurate and validated IDs. Without this, duplication and misreporting remain risks. We must move towards a unique borrower identifier, which is secure, verifiable, and consistent across the system," RBI deputy governor M Rajeshwar Rao said in his keynote address at the 25th anniversary of TransUnion Cibil. He stressed the importance of better data practices for empowering borrowers. The suggestion comes as RBI pushes for a unified lending interface - a digital platform that lets lenders access verified borrower data. Much like UPI lets users send money to any bank, ULI allows multiple lenders to offer credit to a single borrower. Rao said that RBI is testing use of programmable digital rupees (CBDC) to give loans with restricted acceptance of the digital currency. This would start with a pilot for tenant farmers under the kisan credit card scheme. If successful, this could help extend collateral-free loans to small businesses, street vendors, and artisans, while creating digital records that make future lending easier. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Tinnitus: what this grandson discovered will surprise you Hearing Magazine Undo The deputy governor said that RBI has taken several policy measures taken to reduce information asymmetry, enhance data quality and improve customer satisfaction. These included free access to full credit reports, appointment of internal ombudsmen, and redressal frameworks linked to delayed corrections. With the introduction of the Data Quality Index and mandatory disclosures on wilful defaulters, he said, CICs are now more transparent and accountable. Rao also drew attention to the rapid expansion of digital infrastructure in credit delivery. "The convergence of Jan Dhan accounts, Aadhaar and mobile phones, popularly known as the JAM trinity, UPI and ULI, represents a significant advancement in India's digital lending infrastructure," he said. Rao noted the potential of alternative data, AI and machine learning in expanding access to underserved borrowers. "It seems that time is not far when alternative data will no longer be alternate, but it will be the mainstream," he remarked. Similarly, the proposed Grameen Credit Score aims to help SHG members and rural borrowers enter the formal financial system. Despite this progress, he struck a note of caution: "We must remain cognizant of the need for addressing issues around data accuracy, data security, and model risk." Responsible innovation, he said, must uphold the core values of integrity, transparency and public service. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The Hindu
2 days ago
- The Hindu
Telangana unveils first State-led digital public infrastructure for AI
Telangana Data Exchange (TGDeX), a first-of-its-kind State platform to address challenges in AI innovation such as lack of access to clean, usable datasets, subsidised compute infrastructure and institutional pathways to scale beyond proof-of-concept was launched on Wednesday by IT and Industries Minister D. Sridhar Babu. Developed by the Emerging Technologies Wing of the State's IT department with strategic support from the Japan International Cooperation Agency, the JICA DXLab, Boston Consulting Group and the Center of Data for Public Good, IISc Bangalore, TGDeX seeks to lay the ground for a single secure, scalable environment supporting innovation. Ecosystem enablers such as T-Hub and Telangana AI Mission (T-AIM) are also involved in providing value added services such as mentorship and access to markets and funding through 'Grand Challenges', the IT department said in a release on the launch event. 'We are building a digital bridge connecting data to decision making and bridging talent to opportunity. With TGDeX, we are launching a national blueprint for inclusive AI infrastructure,' Mr. Sridhar Babu said. IT and Industries Secretary Sanjay Kumar said, 'With TGDeX, we are enabling a future where a startup in Adilabad can access the same AI-building resources as someone in Hyderabad. We have more than 20 (government) departments on board already and aim to have all departments contribute to TGDeX in the next few months. A joint White Paper brought out by the State government and JICA outlining the TGDeX journey and lessons for other States was launched. JICA India Chief Representative Takeuchi Takuro reaffirmed JICA's commitment to Telangana and to India's broader AI and innovation journey. This White Paper aims to serve as a blueprint for how States and other countries in the Global South can build similar platforms tailored to local needs. Six winners of the Telangana AI Rising Grand Challenge, a pre-launch initiative that received over 420 proposals from 240 startups across the country, were felicitated. TGDeX is live and accessible at The platform houses over 500 datasets contributed by several State departments and aims to host datasets from private enterprises and academic institutions in the future.
