Latest news with #ShrutiSrivastava
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Business Standard
03-07-2025
- Business
- Business Standard
Govt may allow GM animal-feed imports from US in proposed trade deal
By Pratik Parija and Shruti Srivastava India may allow imports of some processed, genetically modified US farm products as it seeks to strike a trade deal with Washington, a potential concession after New Delhi opposed inflows of GM corn and soybeans. Authorities may agree to inbound shipments of some products used in animal feeds, such as soybean meal and distillers dried grains with solubles, a byproduct of corn-based ethanol production, according to people familiar with the matter, who asked not be identified as the information isn't public. Indian and US officials have been engaged in intense negotiations over last few days to iron out differences in a bid to secure a deal before a July 9 deadline, when higher US tariffs are set to kick in. Earlier this week, Treasury Secretary Scott Bessent said the countries were 'very close' to an agreement. India's Ministry of Commerce and Industry didn't immediately respond to an email seeking comment for this story. The world's most populous country is opposed to imports of GM corn and soybeans, and does not permit local farmers to grow them for food. With a vast agricultural sector, and farmers representing a key voting bloc, India retains a cautious stance toward shipments that could compete with local production, reflecting concerns over rural livelihoods and food security. At present, the government doesn't allow cultivation GM food crops, even though varieties can aid yields. The commercial release of GM mustard has been stalled due to a legal challenge in the country's top court, and in 2010, the government rejected a GM variety of brinjal, or eggplant. Still, India already meets about 60 per cent of vegetable-oil demand through imports, including soy and canola oils from GM crops. The country is also the second-largest cotton grower, with more than 90 per cent of that crop genetically modified.
Time of India
03-06-2025
- Business
- Time of India
3 held for 49L digi arrest fraud
Varanasi: A special team of police commissionerate arrested three members of a digital arrest gang for duping a Mahmoorganj native of Rs 49.4 lakh. On Tuesday, ADCP Shruti Srivastava said Subhash Chandra of Mahmoorganj had filed complaint with cybercrime police station, alleging unknown cyber criminals defrauded him of Rs 49.4 lakh by issuing threats of digital arrest. After the case was lodged under sections of BNS and IT Act, a special police team was formed to work out the case. The team succeeded in arresting Gaurav Jaiswal (22), Tabish Ur-Rehman (21) and Asad Vakil Khan (27) of Khairabad in Sitapur district. Police recovered mobile phones that were used to target Chandra and Rs 3,000 cash. Providing details of their modus operandi, she said the cyber criminals lured individuals with promise of money and convinced them to open accounts in various banks. A portion of the amount credited was given to the account holder, while the criminals kept all the bank documents with themselves. After that, they collaborated with their foreign partners in cybercrime to transfer money obtained through digital fraud and investment scams into these accounts. The money was then transferred to various other bank accounts, withdrawn in cash and the criminals paid their foreign partners in dollars after deducting their commission.
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Business Standard
20-05-2025
- Business
- Business Standard
India eyes multi-phase trade deal with US, interim pact likely before July
The talks are still ongoing and there's no clarity if the Trump administration has agreed to a three-stage process for a trade deal Bloomberg By Shruti Srivastava and Sudhi Ranjan Sen India is discussing a US trade deal structured in three tranches and expects to reach an interim agreement before July, when President Donald Trump 's reciprocal tariffs are set to kick in, according to officials in New Delhi familiar with the matter. The interim deal will likely cover areas including market access for industrial goods, some farm products and addressing some non-tariff barriers, such as quality control requirements, the people said, asking not to be identified because the discussions are private. The talks are still ongoing and there's no clarity if the Trump administration has agreed to a three-stage process for a trade deal. India's Commerce Minister Piyush Goyal is currently in Washington on a four-day trip that ends Tuesday, where he's expected to meet US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick to advance the negotiations. India's Ministry of Commerce and Industry and Ministry of External Affairs didn't immediately respond to requests for further information. The USTR and Commerce Department also didn't immediately respond to questions. The second stage of an India-US deal may be a broader and more detailed agreement timed for around September to November, Indian officials familiar with the matter said, likely covering the 19 areas outlined in the terms of reference agreed by the two sides in April. The timing for this part of the deal may be aligned with an expected visit by Trump to India for the Quad leaders' summit, one of the people said. The final leg of the deal will likely be a comprehensive agreement that would follow once there's approval from the US Congress, possibly concluded only next year, Indian officials familiar with the matter said. India was one of the first countries to begin trade negotiations with the US following Prime Minister Narendra Modi's visit to the White House in February shortly after Trump took office. Both leaders agreed to boost trade and work toward concluding the first tranche of the bilateral deal by fall of this year. Since then, New Delhi has signaled the possibility of 'early mutual wins' before the fall deadline. While Indian officials say talks remain on track, there have been signs of tension in recent days. New Delhi appears to be adopting a tougher stance in negotiations, threatening retaliatory tariffs on US goods last week. Trump has also claimed that India offered to slash tariffs on US goods to zero, while downplaying any sense of urgency to reach a trade deal. The US leader's comments about his involvement in negotiating a ceasefire between India and Pakistan have also been a source of frustration in New Delhi. Trump has repeatedly said he used trade as a bargaining tool to secure a truce between India and Pakistan after four days of military conflict that had brought the two South Asian rivals close to an all-out war. Indian officials have denied Trump's assertions.
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Business Standard
24-04-2025
- Business
- Business Standard
Avaana Capital leads $3.8 mn seed round in biotech startup GreenGrahi
The funding will be used to build one of India's largest facilities capable of processing 150 tons of feedstock daily and also expand the scientific team and enter global markets Premium Shruti Srivastava, investment director at Avaana Capital, said GreenGrahi's proprietary insect biotechnology and bioprocessing platform enables the production of high-performance, cost-efficient ingredients at scale. BS Reporter Bengaluru Listen to This Article Avaana Capital has led a Rs 32 crore ($3.8 million) seed funding round in GreenGrahi, a biotech startup developing alternatives to traditional animal feed and chemical agricultural inputs using insect biotechnology. The round also saw participation from existing investors Huddle Ventures, Campus Fund, and Blume Founders Fund. It also included leading angel investors such as Nitin Sharma (Nexus Ventures), Anchit Gupta (Samara Capital), David Chen (Equilibrium Capital), and Sameer Brij Verma (Northpoint Capital). Shruti Srivastava, investment director at Avaana Capital, said GreenGrahi's proprietary insect biotechnology and bioprocessing platform enables the production of high-performance, cost-efficient ingredients at scale. 'This is helping
Bloomberg
16-04-2025
- Business
- Bloomberg
Indian Agency Charges Gandhi Family with Money Laundering
By and Shruti Srivastava Save Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here. India's federal investigative agency has filed charges of money laundering against senior leaders of the main opposition party Indian National Congress, ramping up the government's crackdown on political rivals.
