HOUSTON, March 25, 2025 (GLOBE NEWSWIRE) — W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”) today announced the promotion of Huan Gamblin to Executive Vice President and Chief Technical Officer. Mr. Gamblin has over 20 years of energy industry experience.
Tracy W. Krohn, Chairman and CEO, commented, “We are very pleased to promote Huan to Executive Vice President and Chief Technical Officer, where he will become an integral part of our executive leadership team. Mr. Gamblin has extensive industry experience and over the past four plus years has taken on more responsibilities at W&T and has been instrumental in our acquisitions strategy. We look forward to Huan’s continued contributions to our success as a leading Gulf of America operator.”
Huan Gamblin joined the Company in 2020 and was named Executive Vice President and Chief Technical Officer in March 2025. Since joining W&T in 2020, he has served as Manager of Acquisition and Divesture and, in May 2022, as Vice President of Business Development. Mr. Gamblin has 20 years of domestic and international industry experience. Prior to joining W&T, Mr. Gamblin was the Algeria Reservoir Engineering Manager with Occidental Petroleum (“Occidental”). Before Occidental, Mr. Gamblin held various engineering positions at Anadarko Petroleum’s U.S. onshore, Gulf of America, and international assets.
Mr. Gamblin is a graduate of the University of Texas, where he earned a bachelor’s degree in Petroleum Engineering.
About W&T Offshore
W&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of America and has grown through acquisitions, exploration and development. As of December 31, 2024, the Company had working interests in 52 fields in federal and state waters (which include 45 fields in federal waters and seven in state waters). The Company has under lease approximately 646,200 gross acres (502,300 net acres) spanning across the outer continental shelf off the coasts of Louisiana, Texas, Mississippi and Alabama, with approximately 493,000 gross acres on the conventional shelf, approximately 147,700 gross acres in the deepwater and 5,500 gross acres in Alabama state waters. A majority of the Company’s daily production is derived from wells it operates. For more information on W&T, please visit the Company’s website at www.wtoffshore.com.
CONTACTS:
Al Petrie Investor Relations Coordinator investorrelations@wtoffshore.com 713-297-8024
Sameer Parasnis Executive VP and CFO sparasnis@wtoffshore.com 713-513-8654
TORONTO, March 25, 2025 (GLOBE NEWSWIRE) — Element Fleet Management Corp. (TSX:EFN) (“Element” or the “Company”), the largest publicly traded, pure-play automotive fleet manager in the world, today announced that Paolo Ferrari and Tracey McVicar have been nominated to stand for election to the Company’s Board of Directors at its Annual General Meeting of Shareholders on May 2, 2025. They are being nominated to replace Andrew Clarke and Arielle-Meloul Wechsler who have decided not to stand for re-election.
Mr. Ferrari is a seasoned global executive, most recently holding the roles of Chief Executive Officer of Bridgestone Americas, Chief Executive Officer of Bridgestone West, and Joint Global Chief Operations Officer of Bridgestone Corporation. He is also the former Chief Executive Officer of Pirelli North America and Latin America, and held prior executive roles in telecommunications, technology, and investment banking.
Ms. McVicar is a Partner at CAI Capital Partners, a private equity firm she joined in 2003. She previously held senior positions in investment banking at Raymond James Ltd. and RBC Capital Markets. Ms. McVicar is also a past director of Teck Resources Ltd. where she served as Chair of the Audit Committee and a past director of BC Hydro Corporation where she chaired the Audit and Finance Committee.
“We are pleased to nominate Paolo Ferrari and Tracey McVicar to our Board,” said Element Board Chair Kathleen Taylor. “Paolo and Tracey bring integral skills, perspectives, and experience, and we are confident they will be tremendous assets to the Company. We would also like to thank our outgoing Board members, Andrew Clarke and Arielle Meloul-Wechsler, for their valuable support and contributions to Element.”
Further details about Element’s nominated directors can be found in our management information circular, which is available at http://www.sedarplus.ca.
Delivering Value Through Our Global Growth Strategy
Continuing to demonstrate how Element is driving growth and delivering value to our clients, shareholders, and team members, the Company also announced the release of its inaugural annual report. The report provides stakeholders with a clear and comprehensive overview of the Company’s strategy, vision, operations, and financial performance for 2024. It also highlights key trends shaping the fleet and mobility industry, and how the strategic investments Element made in 2024 will drive the Company’s continued industry leadership across fleet and mobility, setting a strong foundation for future success. More details are available in Element’s 2024 Annual Report.
About Element Fleet Management
Element Fleet Management (TSX: EFN) is the largest publicly traded pure-play automotive fleet manager in the world. As a Purpose-driven company, we provide a full range of sustainable and intelligent mobility solutions to optimize and enhance fleet performance for our clients across North America, Australia and New Zealand. Our services address every aspect of our clients’ fleet requirements, from vehicle acquisition, maintenance, route optimization, risk management, and remarketing, to advising on decarbonization efforts, integration of electric vehicles and managing the complexity of gradual fleet electrification. Clients benefit from Element’s expertise as one of the largest fleet solutions providers in its markets, offering economies of scale and insight used to reduce operating costs and enhance efficiency and performance. At Element, we maximize our clients’ fleet so they can focus on growing their business.
This press release includes forward-looking statements regarding Element and its business. Such statements are based on the current expectations and views of future events of Element’s management. In some cases the forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “plan”, “anticipate”, “intend”, “potential”, “estimate”, “believe” or the negative of these terms, or other similar expressions intended to identify forward-looking statements, including, among others, statements regarding Element’s expectations for financial performance. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause Element’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Such risks and uncertainties include those regarding the fleet management and finance industries, economic factors and many other factors beyond the control of Element. A discussion of the material risks and assumptions associated with this outlook can be found in Element’s annual MD&A, and Annual Information Form for the year ended December 31, 2024, each of which has been filed on SEDAR and can be accessed at www.sedarplus.ca. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Element undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
CALGARY, Alberta, March 25, 2025 (GLOBE NEWSWIRE) — Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) (“Saturn” or the “Company”), a light oil-weighted producer focused on unlocking value through the development of assets in Saskatchewan and Alberta, today announces that on March 27th, 2025, the Company will be participating in a live, online oil and gas investor conference hosted by VirtualInvestorConferences.com. Saturn invites individual and institutional investors, analysts and advisors to attend, with access details outlined below.
PRESENTATION DETAILS
The conference will include a presentation from members of Saturn’s leadership team, followed by a live, interactive Q&A with participants. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available subsequent to the event, with the replay link posted on Saturn’s website. Requests for 1×1 meetings with the Company can be made through the conference portal.
It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates. More information about the event is available at this link.
ABOUT SATURN OIL & GAS INC.
Saturn is a returns-driven Canadian energy company focused on the efficient and innovative development of high-quality, light oil weighted assets, supported by an acquisition strategy targeting accretive and complementary opportunities. The Company’s portfolio of free-cash flowing, low-decline operated assets in Saskatchewan and Alberta provide a deep inventory of long-term economic drilling opportunities across multiple zones. With an unwavering commitment to building an entrepreneurial and ESG-focused culture, Saturn’s goal is to increase per share reserves, production and cash flow at an attractive return on invested capital. The Company’s shares are listed for trading on the TSX under ticker ‘SOIL’, and on the OTCQX under the ticker ‘OILSF’. Further information and our corporate presentation are available on Saturn’s website at www.saturnoil.com.
INVESTOR & MEDIA CONTACTS
John Jeffrey, MBA – Chief Executive Officer Tel: +1 (587) 392-7900 www.saturnoil.com
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors. Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
VIRTUAL INVESTOR CONFERENCES CONTACT DETAILS
John M. Viglotti SVP Corporate Services, Investor Access OTC Markets Group (212) 220-2221 johnv@otcmarkets.com
HOUSTON, March 25, 2025 (GLOBE NEWSWIRE) — Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced the release of its 2024 Annual Update. The interactive and fully digital report shares the Company’s financial results and highlights new technology innovations, achievements, and progress in our strategic focus areas to create long-term value for employees, customers, and shareholders.
Girish Saligram, President and Chief Executive Officer, commented, “2024 has been a year of significant milestones for Weatherford, as we set new records in operational performance and strengthened our position as an industry leader. Our strategic acquisitions, relentless focus on innovation, and commitment to safety and quality have laid the foundation for continued growth and success in the years ahead.”
About Weatherford Weatherford delivers innovative energy services that integrate proven technologies with advanced digitalization to create sustainable offerings for maximized value and return on investment. Our world-class experts partner with customers to optimize their resources and realize the full potential of their assets. Operators choose us for strategic solutions that add efficiency, flexibility, and responsibility to any energy operation. The Company operates in approximately 75 countries and has approximately 19,000 team members representing more than 110 nationalities and 330 operating locations. Visit weatherford.com for more information and connect with us on social media.
Source: United States Senator Marsha Blackburn (R-Tenn)
WASHINGTON, D.C. – Today, U.S. Senators Marsha Blackburn (R-Tenn.) and Brian Schatz (D-Hawaii) introduced the Cultural Trade Promotion Act of 2025, bipartisan legislation to strengthen America’s creative industries and expand cultural exports. By bolstering the creative economy, this legislation will help U.S. businesses—including Native-owned, small, and rural enterprises—reach new global markets, create jobs, and strengthen America’s influence abroad amidst increasing competition from China.
“We cannot allow China to continue to outpace the United States in overall cultural exports, and Tennessee is home to countless creative entrepreneurs who need support to export their products and grow their businesses,” said Senator Blackburn. “The Cultural Trade Promotion Act would improve access to international shipping services for these small businesses to strengthen our economy and promote high-quality American goods.”
“America’s creative industries are a powerful force, driving jobs at home and shaping perceptions of our country abroad. Recently, China has doubled down on promoting its cultural exports, and we’ve been falling behind,” said Senator Schatz. “This bipartisan bill will help us level the playing field by expanding export opportunities for American businesses everywhere from Maui to Memphis so that our creative economy remains the global leader.”
Over the past decade, China has aggressively expanded its cultural trade through coordinated government investments and programs. In 2014, China surpassed the United States in overall cultural exports, and it continues to leverage cultural promotion as part of its Belt and Road Initiative. Meanwhile, America’s cultural trade surplus has declined, dropping from $31.5 billion in 2019 to $17.8 billion in 2021 before rebounding slightly to $21 billion in 2022, according to the National Endowment for the Arts.
The Cultural Trade Promotion Act would direct the Foreign Commercial Service to promote U.S. creative economy goods abroad and require the Trade Promotion Coordinating Committee to include the creative economy in its annual governmentwide strategic plan. The bill would also improve access to international shipping services for small businesses by facilitating collaboration between the International Trade Administration and the U.S. Postal Service. Additionally, it would promote products from American Indian, Alaska Native, and Native Hawaiian-owned businesses and include a representative of the creative industries on the Department of Commerce’s Travel and Tourism Advisory Board.
Source: United States Senator for Washington Maria Cantwell
03.25.25
Cantwell to SSA Nom: “The American People Are Very Bothered by Billionaires Taking a Shot at Their Social Security.”
Shortly after DOGE team entered Social Security Admin, Seattle constituent was incorrectly marked dead, halting his Social Security checks and clawing back thousands from his spouse
WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), senior member of the Senate Finance Committee and ranking member of the Senate Committee on Commerce, Science, and Transportation, pressed Frank Bisignano, President Donald Trump’s pick to serve as Commissioner of the Social Security Administration, on recent comments by Trump officials attacking Americans’ Social Security benefits.
“A lot of the American people are very bothered by billionaires taking a shot at their Social Security. I just think it sounds out of touch,” said Sen. Cantwell. “Secretary Lutnick saying, ‘stop payments to find fraud,’ and then Mr. Musk — who everybody is questioning what his role is anyway — ‘the big one to eliminate,’ that’s what he was saying on Social Security.”
Sen. Cantwell continued: “But now we have these patterns. Let’s go after the staffing. Let’s go after the office closures. A new requirement to re-register. The American people are scared to death that you’re really going after Social Security. So instead of hiring [more] people like my colleagues are suggesting to improve the service, basically you’re allowing Elon Musk’s little DOGE team to go in there and find fraud.”
When Sen. Cantwell asked Bisignano if Social Security should be privatized or if the age requirement should be raised, Bisignano responded, when pressed, “I’ve never heard a word of it and I’ve never thought about it … I don’t believe anybody’s thinking about that,” and “I don’t believe I’m a decision maker on any of these items.”
In the State of Washington, 1.4 million people receive Social Security. Below is a breakdown of Social Security Recipients by county:
County
Number of Social Security Recipients
King Co.
312,000+
Spokane Co.
115,000+
Clark Co.
98,000+
Yakima Co.
46,000+
*County data sourced from SSA.gov*
At the hearing, Sen. Cantwell referenced a constituent in Seattle who was incorrectly presumed dead shortly after Elon Musk sicced his DOGE team on the Social Security Administration. DOGE staffers were specifically tasked with seeking out evidence that tens of millions of dead people are receiving Social Security benefits – a false claim made by both President Trump and Musk. Subsequently, Ned Johnson was incorrectly listed as dead by SSA, which failed to issue his next Social Security check and clawed back over $5,000 in prior benefits payments from his and his wife’s joint bank account, while his Medicare insurance was also cancelled.
Sen. Cantwell said, “And then what did he do? He had to go down to the building in Seattle, the federal building that you’re trying to close, and stand in line for hours and hours and hours to try to say he wasn’t dead and to stop taking his money.
“He made an in-person appointment, but it was pushed back 11 days. 11 days ultimately had to wait in line, as I said, which he said, quote, ‘they are so understaffed down there. They think their office is about to be closed down, and they don’t know where they’re going to go. It feels like the agency is being gutted,’ end quote. So I have to ask you, why are we allowing these people to go in and cause havoc to our constituents instead of hiring people to do the job?”
Sen. Cantwell has been a long-standing champion for Social Security and protecting Washingtonian’s benefits. Sen. Cantwell co-sponsored and voted in December 2024 to pass the bipartisan Social Security Fairness Act, which repealed two Social Security policies that unfairly limited payments for people who also receive a pension from a job that is not covered by Social Security, as well as their surviving spouses and widow(ers). In 2018, Sen. Cantwell introduced and passed the Tribal Social Security Fairness Act to correct a long-standing inequity in the Social Security Act that prevented elected tribal leaders from contributing to and accessing Social Security benefits.
Video of Sen. Cantwell’s remarks today with Bisignano are available HERE, audio HERE, and a full transcript is HERE.
Under the terms of a deal announced on March 25, 2025, by the U.S. and agreed upon in Saudi Arabia, both sides of the conflict committed to ensuring “safe navigation, eliminate the use of force, and prevent the use of commercial vessels for military purposes in the Black Sea,” according to a White House statement.
The naval aspect of the Ukraine war has gotten less attention than events on land and in the skies. But it is, I believe, a vital aspect with potentially far-reaching consequences.
Not only have Russia’s Black Sea losses constrained Moscow’s ability to project power across the globe through naval means, it has also resulted in Russia’s growing cooperation with China, where Moscow is emerging as a junior party to Beijing on the high seas.
Battle over the Black Sea
The tradition of geopolitical theory has tended to paint an oversimplification of global politics. Theories harkening back to the late 19th century categorized countries as either land powers or maritime powers.
Thinkers such as the British geopolitician Sir Halford Mackinder or the U.S. theorist Alfred Thayer Mahan characterized maritime powers as countries that possessed traits of democratic liberalism and free trade. In contrast, land powers were often portrayed as despotic and militaristic.
While such generalizations have historically been used to demonize enemies, there is still a contrived tendency to divide the world into land and sea powers. An accompanying view that naval and army warfare is somewhat separate has continued.
And this division gives us a false impression of Russia’s progress in the war with Ukraine. While Moscow has certainly seen some successes on land and in the air, that should not draw attention away from Russia’s stunning defeat in the Black Sea that has seen Russia have to retreat from the Ukrainian shoreline and keep its ships far away from the battlefront.
As I describe in my recent book, “Near and Far Waters: The Geopolitics of Seapower,” maritime countries have two concerns: They must attempt to control the parts of the sea relatively close to their coastlines, or their “near waters”; meanwhile, those with the ability and desire to do so try to project power and influence into “far waters” across oceans, which are the near waters of other countries.
The Black Sea is a tightly enclosed and relatively small sea comprising the near waters of the countries that surround it: Turkey to the south, Bulgaria and Romania to the west, Georgia to the east, and Ukraine and Russia to the north.
Control of the Black Sea’s near waters has been contested throughout the centuries and has played a role in the current Russian-Ukraine war.
Russia’s seizure of the Crimean Peninsula in 2014 allowed it to control the naval port of Sevastopol. What were near waters of Ukraine became de facto near waters for Russia.
Controlling these near waters allowed Russia to disrupt Ukraine’s trade, especially the export of grain to African far waters.
But Russia’s actions were thwarted through the collaboration of Romania, Bulgaria and Turkey to allow passage of cargo ships through their near waters, then through the Bosporus into the Mediterranean Sea.
Ukraine’s use of these other countries’ near waters allowed it to export between 5.2 million and 5.8 million tons of grain per month in the first quarter of 2024. To be sure, this was a decline from Ukraine’s exports of about 6.5 million tons per month prior to the war, which then dropped to just 2 million tons in the summer of 2023 because of Russian attacks and threats. Prior to the announcement of the ceasefire, the Foreign Agricultural Service of the U.S. Department of Agriculture had forecasted a decline in Ukrainian grain exports for 2025.
But efforts to constrain Russia’s control of Ukraine’s near waters in the Black Sea, and Russia’s unwillingness to face the consequences of attacking ships in NATO countries’ near waters, meant Ukraine was still able to access far waters for economic gain and keep the Ukrainian economy afloat.
For Putin, that sinking feeling
Alongside being thwarted in its ability to disrupt Ukrainian exports, Russia has also come under direct naval attack from Ukraine. Since February 2022, using unmanned attack drones, Ukraine has successfully sunk or damaged Russian ships and whittled away at Russia’s Black sea fleet, sinking about 15 of its prewar fleet of about 36 warships and damaging many others.
Russia has been forced to limit its use of Sevastopol and station its ships in the eastern part of the Black Sea. It cannot effectively function in the near waters it gained through the seizure of Crimea.
Russia’s naval setbacks against Ukraine are only the latest in its historical difficulties in projecting sea power and its resulting tendency to mainly focus on the defense of near waters.
In 1905, Russia was shocked by a dramatic naval loss to Japan. Yet even in cases where it was not outright defeated, Russian sea power has been continually constrained historically. In World War I, Russia cooperated with the British Royal Navy to limit German merchant activity in the Baltic Sea and Turkish trade and military reach in the Black Sea.
In World War II, Russia relied on material support from the Allies and was largely blockaded within its Baltic Sea and Black Sea ports. Many ships were brought close to home or stripped of their guns as artillery or offshore support for the territorial struggle with Germany.
During the Cold War, meanwhile, though the Soviet Union built fast-moving missile boats and some aircraft carriers, its reach into far waters relied on submarines. The main purpose of the Soviet Mediterranean fleet was to prevent NATO penetration into the Black Sea.
And now, Russia has lost control of the Black Sea. It cannot operate in these once secure near waters. These losses reduce its ability to project naval power from the Black Sea and into the Mediterranean Sea.
Ceding captaincy to China
Faced with a glaring loss in its backyard and put in a weak position in its near waters, Russia as a result can project power to far waters only through cooperation with a China that is itself investing heavily in a far-water naval capacity.
Joint naval exercises in the South China Sea in July 2024 are evidence of this cooperation. Wang Guangzheng of the Chinese People’s Liberation Army Navy’s Southern Theater said of the drill that “the China-Russia joint patrol has promoted the deepening and practical cooperation between the two in multiple directions and fields.” And looking forward, he claimed the exercise “effectively enhanced the ability to the two sides to jointly respond to maritime security threats.”
Warships of the Chinese and Russian navies take part in a joint naval exercise in the East China Sea. Li Yun/Xinhua via Getty Images
This cooperation makes sense in purely military terms for Russia, a mutually beneficial project of sea power projection. But it is largely to China’s benefit.
Russia can help China’s defense of its northern near waters and secure access to far waters through the Arctic Ocean – an increasingly important arena as global climate change reduces the hindrance posed by sea ice. But Russia remains very much the junior partner.
Moscow’s strategic interests will be supported only if they match Chinese interests. More to the point, sea power is about power projection for economic gain. China will likely use Russia to help protect its ongoing economic reach into African, Pacific, European and South American far waters. But it is unlikely to jeopardize these interests for Russian goals.
To be sure, Russia has far-water economic interests, especially in the Sahel and sub-Saharan Africa. And securing Russian interests in Africa complements China’s growing naval presence in the Indian Ocean to secure its own, and greater, global economic interests. But cooperation will still be at China’s behest.
For much of the Ukraine war, Russia has been bottled up in its Black Sea near waters, with the only avenue for projecting its naval power coming through access to Africa and Indian Ocean far waters – and only then as a junior partner with China, which dictates the terms and conditions.
A maritime deal with Ukraine now, even if it holds, will not compensate for Russia’s ongoing inability to project power across the oceans on its own.
Colin Flint does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Evolutions Flooring Inc. (Evolutions), a South San Francisco, California-based importer of multilayered wood flooring, and its owners, Mengya Lin and Jin Qian, have agreed to resolve allegations that they violated the False Claims Act by knowingly and improperly evading customs duties on imports of multilayered wood flooring from the People’s Republic of China (PRC). The settlement is based on Evolutions’ and its owners’ ability to pay.
“Import duties provide an important source of government revenue and level the playing field for U.S. manufacturers against their global competitors,” said Acting Assistant Attorney General Yaakov M. Roth of the Justice Department’s Civil Division. “The department will pursue those who seek an unfair advantage in U.S. markets, including by evading the duties owed on goods imported into this country from China.”
To enter goods into the United States, an importer must declare, among other things, the country of origin of the goods, the value of the goods, whether the goods are subject to duties, and the amount of duties owed. U.S. Customs and Border Protection (CBP) collects applicable duties, including antidumping and countervailing duties assessed by the Department of Commerce and Section 301 duties imposed by the Office of the United States Trade Representative. Antidumping duties protect against foreign companies “dumping” products on U.S. markets at prices below cost, while countervailing duties offset foreign government subsidies. Section 301 duties similarly protect U.S. industry by imposing trade sanctions on foreign countries that violate U.S. trade agreements or engage in other unreasonable acts that burden U.S. commerce. During the relevant time period, PRC-manufactured multilayered wood flooring products were subject to antidumping, countervailing, and Section 301 duties.
The settlement resolves allegations that Evolutions, at the direction of Lin and Qian, knowingly and improperly evaded customs duties, including antidumping, countervailing, and Section 301 duties, on multilayered wood flooring manufactured in the PRC that Evolutions imported between Sept. 1, 2019 and July 31, 2022. Among other things, the United States alleged that Evolutions caused false information to be submitted to CBP regarding the identity of the manufacturers and country of origin of the imported multilayered wood flooring.
“The outcome of this case demonstrates that the United States Attorney’s Office for the Central District of California and its CBP partners will continue to safeguard the nation’s economic well-being,” said Acting U.S. Attorney Joseph McNally for the Central District of California. “Fraud in international commerce deprives the United States of vital revenue and creates an unfair advantage over businesses that operate legitimately. The settlement sends a message that we will not stand aside when companies try to cheat the system.”
“The team at CBP was instrumental in providing expertise and logistical support to this investigation,” said Director of Field Operations Cheryl M. Davies of the CBP Los Angeles Field Office. “Through its efforts, which included a site visit to factories in Thailand, review of identified shipments by CBP experts on multilayered wood flooring, an analysis of import records and data by Office of Trade Regulatory Audit, and involvement in interviews with witnesses, CBP contributed to a successful outcome in this matter.”
The settlement with Evolutions and its owners resolves a lawsuit filed by Urban Global LLC under the whistleblower provision of the False Claims Act, which permits private parties to file suit on behalf of the United States for false claims and share in a portion of the government’s recovery. The civil lawsuit was filed in the Central District of California and is captioned United States ex rel. Urban Global LLC v. Struxtur Inc. et al., No. CV20-7217 (C.D. Cal.). As part of today’s resolution, relator Urban Global LLC will receive approximately $1,215,000 of the settlement proceeds.
The resolution obtained in this matter was the result of a coordinated effort between the Civil Division’s Commercial Litigation Branch, Fraud Section, and the U.S. Attorney’s Office for the Central District of California, with assistance from CBP’s Office of Chief Counsel, West Region and Trade Regulatory Audit and the Center of Excellence and Expertise for Industrial and Manufacturing Materials within CBP’s Office of Trade.
Senior Trial Counsel Christelle Klovers of the Justice Department’s Civil Division and Assistant U.S. Attorney Desmond Jui for the Central District of California handled the case.
The claims resolved by the settlement are allegations only; there has been no determination of liability.
Source: United States Department of Defense (video statements)
Secretary of Defense Pete Hegseth Delivers Remarks at the Daniel K. Inouye Asia-Pacific Center For Security Studies at Marine Corp Base Hawaii, March 25, 2025
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Your military is an all-volunteer force that serves to protect our security and way of life, but Service members are more than a fighting force. They are leaders, humanitarians and your fellow Americans. Get to know more about the men and women who serve, who they are, what they do, and why they do it.
For more on the Department of Defense, visit: http://www.defense.gov
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Keep up with the Department of Defense on social media!
Like the DoD on Facebook: http://facebook.com/DeptofDefense
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PHASING OUT PAPER CHECKS: Today, President Donald J. Trump signed an Executive Order to modernize how the government handles money, switching from old-fashioned paper-based payments to fast, secure electronic payments.
The Order mandates that, effective September 30, 2025, the Federal government will cease issuing paper checks for all disbursements, including intragovernmental payments, benefits, vendor payments, and tax refunds.
All executive departments and agencies must transition to modern, electronic funds transfer (EFT) methods like direct deposit, debit/credit card payments, digital wallets, and real-time transfers.
Payments made to the Federal government, such as fees, fines, loans, and taxes, must also be processed electronically where permissible under existing law.
Treasury will phase out physical lockbox services and expedite electronic collection of Federal receipts.
A comprehensive public awareness campaign will be launched to inform Federal payment recipients of the shift to electronic options and offer guidance on setting up digital payments.
Exceptions will be made for people without banking or electronic payment access, certain emergency payments, certain law enforcement activities, and other special cases qualifying for an exception under the Order or other existing law.
This Executive Order does not establish a Central Bank Digital Currency (CBDC).
DEFENDING AGAINST FINANCIAL FRAUD AND IMPROPER PAYMENTS: President Trump is cracking down on waste, fraud, and abuse in government by modernizing outdated paper-based payment systems that impose unnecessary costs, delays, and security risks.
Paper-based payments, such as checks and money orders, impose unnecessary costs, delays, and risks of fraud, lost payments, theft, and inefficiencies.
Mail theft complaints have increased substantially since 2020.
Historically, Treasury checks are 16 times more likely to be reported lost or stolen, returned undeliverable, or altered than an electronic funds transfer.
Maintaining the physical infrastructure and specialized technology for digitizing paper records cost the American taxpayer over $657 million in fiscal year 2024 alone.
Check fraud is becoming more common, with banks issuing about 680,000 reports of check fraud in 2022 – nearly double the number from 2021.
Digital payments are more efficient, less costly, and less vulnerable to fraud.
MODERNIZING THE FEDERAL GOVERNMENT: President Trump is making government work better for the American people.
President Trump has long championed the need for replacing outdated technology, saying “government needs to catch up with the technology revolution.”
PROMOTING FINANCIAL INTEGRITY AND OPERATIONAL EFFICIENCY: Today, President Donald J. Trump signed an Executive Order promoting financial integrity, transparency, and efficiency by improving the Department of the Treasury’s ability to screen for improper payments and fraud, track transactions, and manage the Government’s disbursements.
The Order directs the Department of the Treasury to update guidance and enhance systems across the Federal Government to ensure that all payments made on behalf of agencies undergo pre-certification verification to prevent fraud and improper payments.
In order for Treasury to disburse funds, agency heads must comply with Treasury disbursement requirements, which include ensuring that sufficient funds are available before obligations are incurred, verifying payee information, standardizing information reporting formats, confirming funds are being disbursed from appropriate sources, and implementing other verification and certification measures.
Agencies must share relevant data with Treasury to enhance Treasury’s ability to detect and prevent fraud, subject to applicable law.
Agencies will consolidate core financial systems, including for non-CFO Act agencies, consolidating transactional financial management services under standardized solutions to improve financial reporting and traceability.
Non-Treasury Disbursing Offices (NTDOs) will be reduced as appropriate, with Treasury developing a plan to centralize and manage payments previously handled by NTDOs.
MANAGING TAXPAYER FUNDS RESPONSIBLY: President Trump recognizes that financial fraud threatens the integrity of Federal programs and undermines trust in government.
The Government Accountability Office (GAO) estimates the Federal Government loses up to $521 billion annually to fraud due to inadequate data and outdated systems.
The Treasury is responsible for safeguarding the General Fund (sometimes referred to as “America’s Bank Account”) but currently lacks sufficient controls to track transactions flowing through it.
Fragmented disbursing authority, with NTDOs handing 22% of Federal payments, creates duplicative reporting and diminishes Treasury’s ability to provide centralized oversight.
The Federal Government’s longstanding challenges when it comes to accessing accurate data across agencies has prevented it from more fully safeguarding taxpayer dollars against fraud and improper payments.
Transitioning to centralized systems and ensuring basic pre-certification and verification measures before funds are disbursed will enhance security and improve efficiency in managing Federal funds.
SAFEGUARDING AGAINST WASTE, FRAUD, AND ABUSE: Since Day One, President Trump has been steadfast in his commitment to get rid of waste, fraud, and abuse across the Federal Government.
President Trump implemented a cost efficiency initiative to ensure government contracts and grants are held to rigorous standards.
President Trump established the “Department of Government Efficiency” to examine how to streamline the operations of the Federal Government, eliminate unnecessary programs, and reduce bureaucratic inefficiency.
President Trump launched a 10-to-1 deregulation initiative, ensuring every new Federal rule is justified by clear benefits.
President Trump reduced unnecessarily large scopes of governmental entities and terminated numerous harmful Biden executive actions.
Evolutions Flooring Inc. (Evolutions), a South San Francisco, California-based importer of multilayered wood flooring, and its owners, Mengya Lin and Jin Qian, have agreed to resolve allegations that they violated the False Claims Act by knowingly and improperly evading customs duties on imports of multilayered wood flooring from the People’s Republic of China (PRC). The settlement is based on Evolutions’ and its owners’ ability to pay.
“Import duties provide an important source of government revenue and level the playing field for U.S. manufacturers against their global competitors,” said Acting Assistant Attorney General Yaakov M. Roth of the Justice Department’s Civil Division. “The department will pursue those who seek an unfair advantage in U.S. markets, including by evading the duties owed on goods imported into this country from China.”
To enter goods into the United States, an importer must declare, among other things, the country of origin of the goods, the value of the goods, whether the goods are subject to duties, and the amount of duties owed. U.S. Customs and Border Protection (CBP) collects applicable duties, including antidumping and countervailing duties assessed by the Department of Commerce and Section 301 duties imposed by the Office of the United States Trade Representative. Antidumping duties protect against foreign companies “dumping” products on U.S. markets at prices below cost, while countervailing duties offset foreign government subsidies. Section 301 duties similarly protect U.S. industry by imposing trade sanctions on foreign countries that violate U.S. trade agreements or engage in other unreasonable acts that burden U.S. commerce. During the relevant time period, PRC-manufactured multilayered wood flooring products were subject to antidumping, countervailing, and Section 301 duties.
The settlement resolves allegations that Evolutions, at the direction of Lin and Qian, knowingly and improperly evaded customs duties, including antidumping, countervailing, and Section 301 duties, on multilayered wood flooring manufactured in the PRC that Evolutions imported between Sept. 1, 2019 and July 31, 2022. Among other things, the United States alleged that Evolutions caused false information to be submitted to CBP regarding the identity of the manufacturers and country of origin of the imported multilayered wood flooring.
“The outcome of this case demonstrates that the United States Attorney’s Office for the Central District of California and its CBP partners will continue to safeguard the nation’s economic well-being,” said Acting U.S. Attorney Joseph McNally for the Central District of California. “Fraud in international commerce deprives the United States of vital revenue and creates an unfair advantage over businesses that operate legitimately. The settlement sends a message that we will not stand aside when companies try to cheat the system.”
“The team at CBP was instrumental in providing expertise and logistical support to this investigation,” said Director of Field Operations Cheryl M. Davies of the CBP Los Angeles Field Office. “Through its efforts, which included a site visit to factories in Thailand, review of identified shipments by CBP experts on multilayered wood flooring, an analysis of import records and data by Office of Trade Regulatory Audit, and involvement in interviews with witnesses, CBP contributed to a successful outcome in this matter.”
The settlement with Evolutions and its owners resolves a lawsuit filed by Urban Global LLC under the whistleblower provision of the False Claims Act, which permits private parties to file suit on behalf of the United States for false claims and share in a portion of the government’s recovery. The civil lawsuit was filed in the Central District of California and is captioned United States ex rel. Urban Global LLC v. Struxtur Inc. et al., No. CV20-7217 (C.D. Cal.). As part of today’s resolution, relator Urban Global LLC will receive approximately $1,215,000 of the settlement proceeds.
The resolution obtained in this matter was the result of a coordinated effort between the Civil Division’s Commercial Litigation Branch, Fraud Section, and the U.S. Attorney’s Office for the Central District of California, with assistance from CBP’s Office of Chief Counsel, West Region and Trade Regulatory Audit and the Center of Excellence and Expertise for Industrial and Manufacturing Materials within CBP’s Office of Trade.
Senior Trial Counsel Christelle Klovers of the Justice Department’s Civil Division and Assistant U.S. Attorney Desmond Jui for the Central District of California handled the case.
The claims resolved by the settlement are allegations only; there has been no determination of liability.
Source: United States Senator for Commonwealth of Virginia Mark R Warner
WASHINGTON – Today, U.S. Sens. Mark R. Warner (D-VA) and Thom Tillis (R-NC) introduced legislation to provide much-needed tax relief to working artists. The Performing Artist Tax Parity Act would update the Qualified Performing Artist (QPA) tax deduction, an above-the-line tax deduction which allows certain performing artists to deduct the cost of expenses incurred in the course of their employment.
The Qualified Performing Artist tax deduction has not been updated since its inception in 1986 and is currently only available to those making less than $16,000 a year, meaning that very few artists qualify. This legislation would update and increase the income ceiling to $100,000 for individuals and $200,000 for married joint filers, allowing more lower- and middle-income performing artists to receive tax relief for work-related expenses. This bill also indexes the deduction for inflation so it automatically adjusts for increases in the cost of living in the future.
“Middle class and up-and-coming artists have found their home in the Commonwealth making meaningful contributions to our rich culture,” Sen. Warner said. “This legislation levels the playing field for more artists by treating them like the small businesspeople they are, enriching our society and spurring our commerce.”
“The arts play a vital role in North Carolina’s culture and economy, yet many artists struggle with financial burdens that make it difficult to sustain their careers,” Sen. Tillis said. “By updating this outdated tax deduction, this commonsense legislation ensures that hardworking artists can deduct necessary expenses, just like other professionals. I’m proud to support this bipartisan effort to provide long-overdue tax relief to the creative community.”
Companion legislation was introduced in the House of Representatives on January 24, 2025, by Representatives Vern Buchanan (R-FL) and Judy Chu (D-CA).
The Performing Artist Tax Parity Act is endorsed by numerous organizations advocating for the rights of emerging artists, including the Actors’ Equity Association, the International Alliance of Theatrical Stage Employees, and the Recording Academy/GRAMMYs.
“We commend Senators Warner and Tillis for championing tax fairness for our members and all entertainment professionals. Their bipartisan leadership ensures our members’ voices continue to be heard on this critical issue. It’s time to lower the cost of living for entertainment workers by including PATPA in tax legislation expected later this year, correcting an oversight that has taken money out of the pockets of middle-class IATSE members since 2017,” said Matthew D. Loeb, International President of the International Alliance of Theatrical Stage Employees (IATSE).
“With just a few weeks until Tax Day, Senator Tillis and Senator Warner could not have better timed this critically important bipartisan bill that would mean actors, stage managers and other creative professionals won’t have to pay hundreds, and sometimes thousands of dollars more in taxes simply due to common business costs like their agents and managers fees and travel to auditions. I’m grateful for the leadership of Senator Tillis and Senator Warner and look forward to working with them as we fight to make this bill law,” said Brooke Shields, President of Actors’ Equity Association.
“Entertainment is one of the United States’ top industries, and the work of performing artists has made an immeasurable impact on our national identity. It’s time for the tax code to address the skyrocketing business costs of this highly risky profession and allow performers to deduct legitimate expenses such as agent and manager fees. This will enable working-class performers to continue supporting local economies that generate income from performers living and working in their communities. SAG-AFTRA enthusiastically supports the reintroduction of the bipartisan Performing Artist Tax Parity Act in the Senate and applauds Sens. Tillis and Warner for their work in addressing the financial challenges of those who dedicate their lives to human artistry,” saidFran Drescher, President of SAG-AFTRA.
“The Performing Artist Tax Parity Act (PATPA) is a critical step toward restoring financial fairness for performing artists across the country. For too long, we’ve been unfairly burdened by a tax system that fails to recognize the realities of our profession. This legislation paves the way for artists to be treated less like expendable contractors and more like the vital parts of an institution that we are. It’s an important step toward ensuring that performing artists are no longer penalized for the cost of doing our jobs and toward a future where we receive the same workplace protections and benefits as others who work within the companies we sustain,” said Ned Hanlon, President of the American Guild of Musical Artists.
“Addressing the unique challenges artists and musicians face under the tax code is imperative to supporting the creative community’s impact on culture and the economy. RIAA appreciates Senators Warner and Tillis’ continued leadership driving the bipartisan, bicameral Performing Artist Tax Parity Act. This bill is designed to balance outdated burdens on performers now and enable the next generation to thrive,” said Mitch Glazier, Recording Industry Association of America (RIAA) Chairman & CEO.
“The Motion Picture Association thanks Sens. Thom Tillis and Mark Warner for re-introducing the Performing Artist Tax Parity Act (PATPA) – an important bipartisan effort to deliver essential economic relief to a creative community that includes more than 2.3 million jobs supported by the film, television, and streaming industry. The MPA is again proud to endorse this legislation and support the American creative economy,” said Charles Rivkin, Chairman and CEO of the Motion Picture Association.
“The bipartisan and bicameral Performing Artist Tax Parity Act is commonsense legislation that benefits working musicians. PATPA makes long overdue updates to restore the intention our tax code. We are grateful to Senators Tillis and Warner for championing fairness for all performing artists and arts workers,” said Tino Gagliardi, President of the American Federation of Musicians.
“Supporting working artists through tax relief creates ripple effects that build more vibrant communities across the country. Beyond the arts and culture sector’s $1.1 trillion economic impact, one of the largest public opinion studies ever conducted on the arts in the U.S. found that 86% of Americans believe arts and culture improve their community’s quality of life and livability. By modernizing the tax code nationally, we can support artists and strengthen every community. We applaud Senators Warner and Tillis for introducing the Senate companion to the Performing Arts Tax Parity Act, alongside the House bill championed by Representatives Buchanan and Chu, to modernize an outdated tax code that hasn’t been updated since 1986,” said Erin Harkey, CEO, Americans for the Arts.
“Musicians nationwide are essential contributors to the U.S. workforce and the communities in which they perform,” said Simon Woods, President and CEO, League of American Orchestras. “We are grateful for the leadership of Senators Tillis and Warner in re-introducing this critical legislation to support tax fairness for performing artists.”
“The Performing Artist Tax Parity Act (PATPA) is a lifeline for the artists who bring independent stages to life. The Senate is taking an important step toward building a fairer, more sustainable live ecosystem that benefits independent stages, artists, audiences, and communities alike. We hope that Congress will move quickly to enact PATPA this year,” said Stephen Parker, Executive Director of the National Independent Venue Association.
“Virginians for the Arts is grateful to Senator Warner for his unwavering support of the arts and artists here in Virginia and nationally. We are also grateful to the Senator for sponsoring the Performing Artist Tax Parity Act. This legislation modernizes the qualified performing artist tax deduction and is an important recognition of the value the arts play in our communities and the economy,” said Brett Bonda, President of Virginians for the Arts.
“Aligned with its mission to advance the performing arts in the Richmond region through programs and resources that support the artists of today, nurture the artists of tomorrow, and provide spaces for the arts to thrive, Richmond Performing Arts Alliance (RPAA) fully endorses the bipartisan Performing Artist Tax Parity Act (PATPA). This legislation is critical for RPAA’s vision to create a vibrant community where the performing arts flourish and strengthen Richmond’s cultural, social, and economic vitality. We strongly believe that for this to happen artists from all backgrounds must have the capacity and resources to grow their programs and reach new audiences. We thank Senators Warner and Tillis for introducing this legislation and realizing the tremendous investment that artists make in their work and the incredible contributions they make to our lives,” said Abbi Haggerty, Ph.D., Executive Director of the Richmond Performing Arts Alliance.
Source: United States Senator for Commonwealth of Virginia Mark R Warner
WASHINGTON – Today, U.S. Sen. Mark R. Warner (D-VA), joined by U.S. Sens. Mike Rounds (R-SD) and Cynthia Lummis (R-WY), introduced the China Financial Threat Mitigation Act, legislation aimed at shoring up America’s response to financial threats stemming from the Chinese Communist Party (CCP).
The China Financial Threat Mitigation Act would require deeper analysis of potential financial threats from the CCP that may have substantial impacts on the U.S. economy.
“We continue to see increased aggression from the Chinese Communist Party towards the United States, including in the financial sector. This increased action requires us to take meaningful steps to protect U.S. institutions and interests. That’s why I’m proud to introduce this bipartisan legislation that will help to shore up our financial systems and ensure that the U.S. is prepared to counter the CCP’s attacks,” said Sen. Warner.
“The Chinese Communist Party has the ability to intervene in China’s banking system to achieve outcomes that benefit them the most, which has potential to harm American businesses,” said Sen. Rounds. “We must gain a clearer understanding of how China’s financial sector affects the U.S. economy and other global financial systems. Our legislation tasks the Treasury Department, working with other federal agencies, to assess and report on U.S. exposure to China’s financial activities, providing a clearer picture of the threat.”
“The Chinese Communist Party is a serious threat to our national and economic security,” said Sen. Lummis. “I am partnering with my colleagues to protect U.S. financial interests and hold the CCP accountable, and I look forward to getting this bipartisan legislation across the finish line.”
The legislation would also require the Department of the Treasury, in consultation with the Federal Reserve, U.S. Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and State Department, to issue a report on the exposure of the United States to the threats posed by China’s financial sector. Specifically, the required report must include:
Effects the reforms to China’s financial sector have on U.S. and global financial systems;
Description of the policies the United States is adopting to protect U.S. interests;
Description and analysis of any risks presented by China to the financial stability of the United States and the global economy; and
Recommendations for additional actions to strengthen international cooperation to mitigate risks and protect U.S. interests.
As Vice Chairman of the Senate Select Committee on Intelligence, Sen. Warner has worked to ensure the U.S. is prepared to counter threats posed by foreign adversaries including the CCP across various sectors. Sen. Warner spearheaded the push to force CCP-based Bytedance to divest from TikTok in order to allow the app to continue operations in the United States. Last year, Sen. Warner introduced the Countering CCP Drones and Supporting Drones for Law Enforcement Act, legislation to cut off dangerous CCP drone companies from the U.S. telecommunication infrastructure. Sen. Warner also introduced bipartisan and bicameral legislation to improve information sharing between private companies and the Intelligence Community in order to mitigate the threat that foreign adversaries including the CCP pose to United States companies in foreign jurisdictions on projects relating to energy generation and storage, including in the critical minerals industry. This legislation is the latest step in his efforts to safeguard American interests.
The legislation was introduced in the House of Representatives by U.S. Reps. Josh Gottheimer (D-NJ) and Roger Williams (R-TX).
Source: United States Senator for Illinois Dick Durbin
March 24, 2025
The Interagency Patent Coordination and Improvement Act would establish a task force between agencies to share information, foster good governance in activities related to prescription drug patents
WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL), Ranking Member of the Senate Judiciary Committee, and U.S. Senator Thom Tillis (R-NC), along with U.S. Senators Chuck Grassley (R-IA), Chairman of the Senate Judiciary Committee, Chris Coons (D-DE), and Peter Welch (D-VT) today introduced bipartisan legislation, the Interagency Patent Coordination and Improvement Act, which would establish a task force between the United States Patent and Trademark Office (USPTO) and the Food and Drug Administration (FDA) to improve communication and coordination in implementing each agency’s activities related to pharmaceutical patents. Currently, there is limited collaboration between USPTO and FDA, despite both agencies playing a role related to patents and competition involving prescription drugs. Numerous concerns have been raised about gamesmanship, abuses, or lack of clarity that can harm prescription drug affordability by limiting generic competition. This legislation was passed by the Senate Judiciary Committee in the 118th Congress by voice vote.
“Establishing clear avenues for collaboration between USPTO and FDA is essential for both agencies to oversee patent laws that protect innovation and promote competition,” said Durbin. “By incentivizing coordination through the Interagency Patent Coordination and Improvement Act, we can address gamesmanship and abuses with pharmaceutical patents that keep prescription drug prices too high for American patients.”
“Enhancing coordination between the USPTO and FDA will ensure that patent examiners have the necessary information to make well-informed decisions regarding patentability,” said Tillis.“This bill is a straightforward, commonsense measure that strengthens the patent system, improves patent quality, and reduces unnecessary bureaucracy.”
Given the shared interaction and overlapping jurisdiction between USPTO and FDA, this legislation promotes efficiency and good governance by fostering communication between the two agencies, while respecting their distinct purviews. Specifically, the task force created by this legislation would: enhance information sharing on each agency’s processes, standards, and methods; improve dialogue on new technologies and scientific trends; enable confidential reciprocal access to information, if requested and only as needed, related to prior art; ensure accurate representations by companies between the two agencies; and ensure accuracy of patent listings. This enhanced coordination will help bolster innovation while preventing inappropriate tactics to delay access to affordable generic medications.
This bipartisan legislation is endorsed by AARP and Patients For Affordable Drugs Now.
“AARP, which advocates for the more than 100 million Americans age 50 and over, is pleased to endorse the Interagency Patent Coordination and Improvement Act of 2025,” said Bill Sweeney, AARP’s Senior Vice President of Government Affairs. “We value Senators Durbin and Tillis’s bipartisan efforts to increase transparency and access to affordable prescription drugs and look forward to continuing to work with them on these and other measures to lower drug prices for all Americans.”
“This bill improves coordination between the Patent and Trademark Office (PTO) and the Food and Drug Administration (FDA) to close loopholes that brand-name drug corporations exploit to block competition – helping to stop patent abuse before it starts. Boosting competition is one of the most powerful tools we have to lower drug prices for Americans of all ages, in every state, who are struggling to afford the medications they need. Patients For Affordable Drugs Now is proud to support this legislation,” said Merith Basey, Executive Director of Patients for Affordable Drugs Now.
Union Home Minister and Minister of Cooperation Shri Amit Shah replies to the discussion on the Disaster Management (Amendment) Bill, 2024 in the Rajya Sabha, Upper house passes the bill Under Modi ji’s leadership, India became a global leader in disaster management
Modi government is managing disasters by adopting a proactive approach instead of a reactive one and by aiming for zero casualties instead of minimising casualties
Compared to the previous regime, Modi government has given more than three times the money to the states from the central fund
In the previous regime, funds were given to the Rajiv Gandhi Foundation from PMNRF
This bill will further increase the capacity, intensity, efficiency and accuracy in disaster response
Earlier, thousands of people used to die in cyclones, but Modi government is moving towards zero casualty
The aim of this bill is to increase transparency, accountability, efficiency and cooperation in disaster management
India’s disaster management prowess has been established globally through CDRI
To deal with the changing size and scale of disasters, we will have to change the methods, systems and make institutions accountable as well as give them powers
India has had the most successful management of the COVID-19 pandemic in the entire world
Earlier, it used to take two generations for getting vaccines, but under the Modi government, India has made the COVID vaccine and also delivered it to every citizen
The Modi government has given more money than the prescribed amount to the states for disaster managementna
Posted On: 25 MAR 2025 9:24PM by PIB Delhi
Union Home Minister and Minister of Cooperation Shri Amit Shah today replied to the discussion in the Rajya Sabha on the Disaster Management (Amendment) Bill, 2024. After the discussion, with the passage of the bill from the upper house the amendment bill was passed by the Parliament.
Speaking in the upper house during the discussion, Union Home Minister and Minister of Cooperation said that through this amendment bill, the Narendra Modi government intends to connect Centre, State governments, Panchayat and all our citizens with the cause of disaster management and there is no question of centralization of power. He said that this disaster management amendment bill is an attempt to take the fight against disasters from a reactive approach to a proactive one and also beyond to an innovative and a participatory approach.
Shri Amit Shah said that Prime Minister Shri Narendra Modi Ji presented a ten-point agenda to the world for disaster risk reduction which has been accepted by more than 40 countries of the world. He said that this bill envisages participation not only from state governments and local units but also from the society. He said that the amendment bill keeps scope of minute planning at local levels too along with the national level and gives clarity on the powers and duties of institutions involved. Shri Shah said that the fight against disasters cannot be accomplished without enabling the institutions and making them better and more accountable, and both of these things have been taken care of in the bill. He said that disasters are directly related to climate change and to mitigate them, we should take steps against global warming. He said that India has been moving in this direction for thousands of years and the Modi government is working to take this tradition forward.
Union Home Minister and Minister of Cooperation said that the Disaster Management Act was brought for the first time in the year 2005 and under this NDMA (National Disaster Management Authority), SDMA (State Disaster Management Authority) and DDMA (District Disaster Management Authority) were formed. He said that in this bill, the biggest responsibility in the aftermath of disasters have been given to DDMAs which is under the state government, thus there is no question of any damage to our federal system. He said that for financial assistance, National Disaster Response Fund and National Disaster Mitigation Fund were created. Shri Amit Shah said that the Finance Commission has made a scientific arrangement for disaster relief and the Modi government has not given a single penny less than the prescribed amount to any state, rather it has given more.
He said that due to global disasters like Covid-19, increasing urbanization, irregular rain-related disasters and climate change, both the size and scale of disasters have changed. Shri Shah said that to deal with the changing size and scale of disasters, we will have to change the methods and systems and also make the institutions accountable and give them powers. He said that with this objective, this bill has been brought for an effective and comprehensive solution to the disaster management problem. He said that suggestions have been incorporated from stakeholders, ministries and departments of the Central Government, all state governments, Union Territories, international organizations and national and international non-governmental organizations and this bill has been prepared comprehensively by accepting 89 percent of their suggestions.
Union Home Minister said that through this bill, Modi government wants to move from reactive response to proactive risk reduction, from manual monitoring to AI-based real-time monitoring, from radio warnings to social media, apps and mobile warnings, and from government-led response to a multi-dimensional response involving society and citizens. He said that this entire bill has been made to incorporate capacity, intensity, efficiency and accuracy in disaster response. Shri Shah said that in the last 10 years, there has been a change in disaster management in our country due to which we have emerged as a regional and global power recognized by the world. He said that this bill is necessary to maintain this success story of India for a longer time in future.
Shri Amit Shah said that this Bill will make both NDMA and SDMA effective, disaster database will be created at national and state level. It envisages creation of Urban Disaster Management Authority which will be completely under the state governments. Apart from this, this Bill will also give statutory power to NDMA and SDMA in creating a blueprint for 100% implementation of the recommendations of the 15th Finance Commission. He said that transparency, trust, credibility and accountability have been given place in it. Shri Shah also said that well-defined roles have been fixed in it and moral responsibilities have also been given place. The Home Minister said that we have also fixed responsibility for the best use of resources. He said that through this Bill, an attempt has been made to fight against disaster with synergy, between preparation, good management and coordination. Many reforms have been made on these four pillars and not a single one of these reforms is for centralization of power.
Union Home Minister and Minister of Cooperation said that in the last ten years, on one hand, Prime Minister Modi Ji has done many things for environmental protection and on the other hand, he has also taken disaster management a long way forward. He said that on one hand Modi Ji talked about Mission Life in front of the world and on the other hand he also announced a ten-point disaster risk reduction agenda. He said that on one hand, a definite concrete program was given to become a pro-planet people and on the other hand, the Coalition for Disaster Resilience Infrastructure (CDRI) was presented to the world, which has 43 countries as members. Shri Shah said that Modi Ji started the International Solar Alliance and Global Biofuel Alliance and also formed a task force on Disaster Risk Reduction by hosting the G20 conference in India. He said that on both these fronts, Prime Minister Modi and the government led by him have worked in a meticulous manner with great foresight. The Home Minister said that on the one hand efforts should be made to prevent disasters by protecting the environment and on the other hand, in case of a disaster, Modi ji has made complete arrangements to fight the disaster in a scientific manner from villages to Delhi.
Shri Amit Shah said that the devastating earthquake in Bhuj, Gujarat in 2001 shook not only Gujarat but the entire country and the world. He said that at that time Shri Narendra Modi was the Chief Minister of Gujarat and he had established the Climate Change Department for the first time in India. He said that at that time Modi ji created the Climate Change Fund in Gujarat and in 2003 brought the State Disaster Management Act in Gujarat. Shri Shah said that in 2013, the country’s first city level action plan for heat wave was made in Ahmedabad and Modi ji also worked on making a detailed plan for reconstruction, community preparedness and rehabilitation after the earthquake.
Union Home Minister said that after Shri Narendra Modi became the Prime Minister in 2014, a holistic and integrated approach was introduced in the country instead of a relief-centric approach. He said that a proactive approach was adopted instead of a reactive one and disaster management was done by keeping the target of zero casualty instead of the usual target of minimum casualty of the previous regime. He said that today governments are not only focus on relief and rescue after a disaster but also make many preparations to tackle them. Shri Shah said that the Modi government has done a very good job in early warning system, prevention to the extent possible, mitigation, timely preparedness and disaster risk reduction. He said that when the Odisha Super Cyclone hit in 1999, 10 thousand people died, but when Cyclone Fani hit in 2019, only one person died, this was the result of our changed approach. He said that when Cyclone Biparjoy hit Gujarat in 2023, not a single person or animal died and we achieved the target of zero casualties in 2023. He said that there has been a 98 percent reduction in loss of life and property due to cyclones and we have also succeeded in reducing heat-related mortality significantly.
Shri Amit Shah said that the budget of SDRF was Rs 38 thousand crores during the year 2004 to 2014, which was increased to Rs 1 lakh 24 thousand crores by the Modi government during 2014 to 2024. Rs 28 thousand crores were given to NDRF during 2004 to 2014, while Rs 80 thousand crores were given during 2014 to 2024. Shri Shah said that the government has increased the total amount from Rs 66 thousand crores to more than Rs 2 lakh crores. He said that the Modi government has given more than three times the money to the states from the central funds. Shri Shah said that apart from this, a National Disaster Response Reserve of 250 crores was created, the first National Disaster Management Plan was released in 2016 which is completely in line with the Sendai framework, the Subhash Chandra Bose Disaster Management Award was established in 2018-19 and the first phase of National Cyclone Risk Mitigation was done in Odisha and Andhra Pradesh in 2018. He said that in 2020-21, the Home Ministry decided that the Inter-Ministerial Consultative Team (IMCT) will first go and do an immediate review and the Modi government made a provision to provide immediate assistance by sending 97 IMCTs within 10 days in 5 years.
Union Home Minister said that currently 16 battalions of NDRF are operational and seeing the NDRF personnel, people feel assured that they are safe now. He said that apart from this, programs have also been made for landslide risk management, glacial lake outburst flood (GLOF) and civil security and training capacity building.
Union Home Minister and Minister of Cooperation said that the National Disaster Response Force (NDRF), in the spirit of Vasudhaiva Kutumbakam, conducted ‘Operation Maitri’ during the earthquake in Nepal in 2015, ‘Operation Samudra Maitri’ in Indonesia in 2018, ‘Operation Dost’ in Turkey and Syria in 2023, ‘Operation Karuna’ in Myanmar and ‘Operation Sadbhav’ in Vietnam, due to which the governments and people of these countries praised NDRF and Modi ji. He said that NDRF has worked to get our disaster management system firmed up at a national level.
Shri Amit Shah said that the Government of India has signed agreements with Japan, Tajikistan, Mongolia, Bangladesh, Italy, Turkmenistan, Maldives and Uzbekistan to strengthen disaster management and disaster risk reduction. The geographical conditions of these countries make them prone to similar disasters which are possible in India. He said that we have tried to ensure that these countries benefit from our best practices and we benefit from their best practices. Apart from the MoUs, international seminars were also held in the years 2015, 2016, 2019, 2020, 2023, in which disaster management experts from member countries of organizations like SAARC, BRICS, SCO also participated.
Union Home Minister said that the Coalition for Disaster Resilient Infrastructure (CDRI) is an example of India’s global leadership in the field of disaster management. Prime Minister Shri Narendra Modi put forward this idea in the UN Climate Summit held in New York on 23 September 2019 and it was established in India itself. He said that so far 42 countries and 7 international organizations have become members of CDRI and through CDRI, work has been done to establish India’s leadership in this field at the global level.
Shri Amit Shah said that through the ‘Aapada Mitra’ scheme, a force of one lakh community volunteers has been created in 350 disaster prone districts at a cost of Rs 370 crore and the volunteers have been registered on the India Disaster Resource Network portal. The District Collectors have their complete details. When a disaster strikes, these volunteers reach for the help on their own. The Home Minister said that 20 percent of the one lakh ‘Aapada Mitra’ volunteers are women. Our women power is working shoulder to shoulder in the work of disaster management. He said that as a result of the ‘Aapada Mitra’ scheme, 78 thousand people were rescued from disasters and taken to safe places and 129 lives were saved by providing them timely treatment at the hospitals.
Union Home Minister said that the ‘Aapada Mitra’ scheme is being expanded. To involve the youth, more than 1300 trained ‘Aapada Mitras’ have been employed as master trainers with a budget of Rs 470 crore. In this, NCC, NSS, Nehru Yuva Kendra Sangathan and Bharat Scouts and Guides will train two lakh 37 thousand ‘Aapada Mitras’, which will increase the total number of community volunteers to three lakh 37 thousand.
Shri Amit Shah said that we have created many apps for weather related information. These include ‘Mausam’, ‘Meghdoot’, ‘Flood Watch’, ‘Damini’, ‘Pocket Bhuvan’, ‘Sachet’, ‘Van Agni’ and ‘Samudra’. Also, a nodal agency has been created for the study of landslides. India Quake app has been created for automated broadcasting of earthquake parameters. He said that due to the efforts of Modi ji, today all these apps have reached almost every citizen of the country. This has benefited farmers, fishermen, people living on the seashore and people living in landslide prone areas on time.
Union Home Minister said that the entire world has accepted that Prime Minister Narendra Modi is leading the world in the field of environment, therefore the United Nations has honoured him with the award of Champions of the Earth. Modi ji has almost completed the task of making India free from single-use plastic. Many countries have joined the International Solar Alliance (ISA) formed on his initiative. Modi ji has worked to popularise the ‘One Sun, One Earth, One Grid’ project worldwide. The construction of Inter-Regional Energy Grid has begun for sharing solar energy across the world. Crores of people have planted trees with devotion in reverence of Mother Earth and their own mothers through the ‘Ek Ped Maa Ke Naam’ campaign.
Shri Amit Shah said that India has set the target of Net Zero Carbon Emission by the year 2070. He said that we have already achieved the targets of International Solar Alliance, Global Bio-fuel Alliance and 20 percent Ethanol Blending by the year 2025. Today all our vehicles have 20 percent eco-friendly fuel. Shri Shah said that by providing 10 crore gas connections under the Ujjwala Yojana, we have stopped the smoke of cow dung cakes and coal. We have increased the Swachhata Abhiyan from 39 percent to 100 percent sanitation coverage. Along with this, the Green Hydrogen Mission has started the implementation of a new type of scheme in the entire world.
Union Home Minister said that, if the best COVID management has happened anywhere in the world, it has happened in India. Every Indian should be proud of this and the whole world praises our efforts immensely. He said that as soon as Corona arrived, we started making the vaccine. He said that during the previous regime, it used to take two generations to administer vaccines but under Modi Government India not only got the vaccine made but also ensured that it reached every citizen of the country. Shri Shah said that there is no parallel to such a precise use of technology for public welfare anywhere in the world. Due to the use of technology, the certificate was made available on the mobile as soon as the vaccine was administered and a reminder message would also come up with the time for the second vaccine.
Shri Amit Shah said that through video conference in the state’s civil hospitals and AIIMS, doctors treating minor diseases in small villages were guided about telemedicine, which saved the lives of lakhs of people. He said that the Prime Minister talked to the Chief Ministers of the states 40 times during COVID-19 and inquired about the situation. Not only the Prime Minister, the entire cabinet was involved in this work.
Union Home Minister said that due to our leadership we were able to fight the best battle against Corona in the whole world. Governments were fighting against Corona all over the world, but here the Central Government, State Government and 130 crore people were fighting together. He said that there is not a single example in independent India when an appeal by a leader has had the seriousness of a government order and the whole country followed the appeal of the Prime Minister Shri Narendra Modi for Janta curfew with full seriousness. No leader’s appeal had ever received such a great respect.
Shri Amit Shah said that the Prime Minister’s National Relief Fund (PMNRF) was created during the previous regime. He said fund from PMNRF used to be given to Rajiv Gandhi Foundation. Shri Shah said that during Modi ji’s regime PM Cares fund was created. We spent its funds for tackling the corona epidemic, disaster relief, oxygen plants, ventilators, assistance to the poor and vaccination. Shri Shah said that under PM Cares, along with relief work, we have also provided many types of innovative assistance. There is no political interference in this.
Union Home Minister said that for Karnataka, an estimate of Rs 5,909 crore was given by a high-level committee, out of which Rs 5,800 crore was transferred. For Kerala, an estimate of Rs 3,743 crore was made, out of which Rs 2438 crore was given. For Tamil Nadu, Rs 4600 crore was given out of Rs 4817 crore. West Bengal was given Rs 5000 crore out of Rs 6837 crore. Himachal Pradesh was given Rs 1766 crore out of Rs 2339 crore. The committee has given more or less the same amount to Telangana as well.
Shri Amit Shah said that Rs 111 crore was given to Jharkhand, Rs 121 crore to Kerala, Rs 460 crore to Maharashtra, Rs 256 crore to Bihar and Rs 254 crore to Gujarat for fire-fighting measures, which was never given before. He said that other states will be given funds for fire-fighting measures next year. Shri Shah said that Rs 228 crore has been given to Tamil Nadu between the years 2019 to 2024 and a lot of assistance has been provided.
Union Home Minister said that we declared the disaster in Wayanad, Kerala as a disaster of severe nature. Rs 215 crore was immediately released from the National Disaster Response Fund (NDRF). Rs 36 crore was sent for debris removal, which has not been spent yet. Apart from this, assistance of Rs 153 crore was given on the basis of the IMCT report. The state government has estimated the need for Rs 2219 crore for normalizing the situation and reconstruction, out of which Rs 530 crore has been given. Along with this, other measures have been suggested to get additional assistance from a special window.
Shri Amit Shah said that for the Central Government, citizens of all states including Kerala, Ladakh, Gujarat, Uttar Pradesh are equal and we do not discriminate against anyone. He said that in the Disaster Management Bill, we have paid attention to increasing human resources along with the provision of increasing technical capacity. Along with the government’s effort, provision has also been made for community effort and along with disaster-resistant construction, care has also been taken for the conservation of nature.
India, Singapore Sign Letter of Intent (LOI) on Green Shipping & Digital Corridor Collaboration Union Minister Sarbananda Sonowal along with Senior Minister Dr Amy Khor Attends the Signing Ceremony
Union Minister Sarbananda Sonowal held Bilateral Meeting with Vice Minister Brigit Gijsbers of The Netharlands on Further Deepening Maritime Cooperation between the two countries
“Fruitful discussion on using Dutch Global expertise to enable Cargo Movement in low draft rivers of Brahmaputra & Barak”: Sarbananda Sonowal
Sarbananda Sonowal joined Dr Amy Khor to inaugurate India Pavillion at the ongoing Singapore Maritime Week (SMW)
Sarbananda Sonowal inaugurates ‘’ Pavillion, Presides over India Business Roundtable
Posted On: 25 MAR 2025 8:16PM by PIB Delhi
The Union Minister of Ports, Shipping & Waterways (MoPSW), Shri Sarbananda Sonowal attended the signing ceremony of Letter of Intent (LOI) between India and Singapore on maritime digitalisation (Digital Corridor Collaboration) and Decarbonisation (Green Shipping) here today. Shri Sonowal was joined by Dr Amy Khor, Senior Minister of State, Ministry of Sustainability and the Enviornment and Ministry of Transport, Singapore. The LOI was inked by Shri R Lakshmanan, Joint Secretary, MoPSW, and Teo Eng Dih, Chief Executive of the Maritime and Port Authority of Singapore.
Under the LOI, both sides will collaborate on maritime digitalisation and decarbonisation projects, including identifying relevant stakeholders who could contribute to the effort, and work towards formalising the partnership through a memorandum of understanding on a Singapore-India Green and Digital Shipping Corridor (GDSC).
India is a leading player in information technology with the potential to become a major producer and exporter of green marine fuels.
Singapore, as a key transshipment and bunkering hub, also supports a dynamic research and innovation ecosystem. The Singapore-India GDSC, when established, will enhance collaboration from both countries and help accelerate the development and uptake of zero or near-zero GHG emission technologies and the adoption of digital solutions.
Speaking on the occasion, the Union Minister, Shri Sarbananda Sonowal said, “The signing of this landmark LOI marks the bilateral
collaboration as a significant step towards modernising maritime operations and advancing green shipping efforts. The Singapore-India
Green and Digital Shipping Corridor will drive innovation, accelerate the adoption of low-emission technologies, and strengthen digital integration in the sector, allowing us to move India towards realising the vision of PM Shri Narendra Modiji’s ‘Viksit Bharat’. With India’s strength in Information Technology and green fuel production, along with Singapore’s role as a global maritime hub, this partnership will set new benchmarks in sustainability and efficiency in the maritime sector. We look forward to work closely to build a resilient, future ready maritime ecosystem that benefits both nations and the global maritime industry.”
Seeking the Global Dutch Expertise for revamping India’s waterways rivers like Barak and Brahmaputra, Shri Sarbananda Sonowal said, “With their rich experience and global expertise in dredging, river engineering, we can enable our diverse and rich riverine system with effective dredging techniques, modern inland vessel technology & water management. The Netherlands’ expertise in shallow-draft push barges, modular inland vessels, & LNG-powered river transport presents a valuable opportunity for India. We are keen to adapt these technologies to enhance cargo movement in low-draft rivers like the Brahmaputra & Barak, making inland waterways more efficient, sustainable, & economically viable. We see great potential for Dutch collaboration in India’s major projects like the Jal Marg Vikas Project (JMVP) and Brahmaputra River dredging. This will help us realise the vision of PM Shri Narendra Modi ji to empower the Northeast as the New Engine of Growth for an Atmanirbhar Bharat charting its course on becoming a Viksit country.”
The Union Minister Shri Sarbananda Sonowal also inaugurated the ‘India Pavilion’ along with Dr Amy Khor, Senior Minister of Singapore.
Shri Sonowal also inaugurated the IRClass Pavilion at the ongoing Singapore Maritime Week (SMW). Speaking at the India Business Roundtable, the Union Minister, Shri Sarbananda Sonowal said, “India is rapidly emerging as a global maritime hub, driven by sustainability, digital innovation, and strategic partnerships. Under the visionary leadership of PM Shri Narendra Modi ji, we are transforming ports into clean energy-driven investment hubs, fostering shipbuilding excellence, and decarbonising shipping. With bold reforms, resilient supply chains, and global collaborations like the India-Singapore Green and Digital Shipping Corridor, we invite the world to partner with us in shaping a sustainable and future-ready maritime economy.”
During the day, the Union Minister Shri Sarbananda Sonowal also visited Singapore Cruise Centre to understand the infrastructure and facilities that has helped Singapore to become a thriving cruise tourism destination. India aims to replicate such terminals in key locations like Goa, Mumbai and Chennai to provide a fillip to the cruise tourism. Sonowal also met with key officials of Singapore Chamber of Maritime Arbitration (SCMA) as well as top industry captains from maritime sector of the Netherlands.
In order to manage the overall food security and to prevent unscrupulous speculation, the Government of India has decided that Traders/Wholesalers, Retailers, Big Chain Retailers and Processors in all States and Union Territories have to declare their Stock position of wheat on the portal (https://evegoils.nic.in/wsp/login) w.e.f. 01.04.2025 and then, on every Friday till further orders. All the respective legal entities to ensure that stock are regularly and correctly disclosed on the portal.
Wheat Stock Limit is expiring on 31.03.2025 for all categories of entities in States and UTs. Thereafter, the entities have to disclose the wheat stock on portal. Any entity which is not registered on the Portal, may register themselves and start disclosing the wheat stock on every Friday.
The Department of Food and Public Distribution is maintaining a close watch over the stock position of wheat to prevent speculation, control prices and ensure easy availability in the country
The Competition Commission of India has approved acquisition of Athaang Devanahalli TollwayPrivate Limited, Athaang Jammu Udhampur Highway Private Limited and Quazigund Expressway Private Limited by Cube Highways Trust and Cube Highways and Infrastructure V Pte. Ltd.
The Proposed Combination envisages:
acquisition of 100% shareholding of Athaang Devanahalli Tollway Private Limited (ADTPL) by Cube Highways and Infrastructure V Pte. Ltd. (Cube V); and
acquisition of 100% shareholding of (i) Athaang Jammu Udhampur Highway Private Limited (AJUHPL), and (ii) Quazigund Expressway Private Limited (QEPL) by Cube Highways Trust (Cube Trust).
(Hereinafter ADTPL, AJUHPL and QEPL are collectively referred to as the ‘Targets’)
The Cube Trust is an infrastructure investment trust registered with the Securities and Exchange Board of India (SEBI) under the SEBI (Infrastructure Investment Trusts) Regulations, 2014 (as amended). The road assets/ SPVs of Cube Trust are engaged, inter alia, in the operation and maintenance (O&M) of various road and highway projects in India.
Cube V is registered as a foreign portfolio investor with the SEBI and acquires, operates and manages road assets in India.
The Targets have been incorporated in India as special purpose vehicles and are engaged in the business of operating (through governmental concessions) roads and highways in India.
The Competition Commission of India has approved the proposed combination involving, inter alia, Maple Infrastructure Trust (MIT); CDPQ Infrastructures Asia III Inc. (CDPQ Asia); Maple Highways Pte. Ltd.; 360 ONE Private Equity Fund and certain road assets of the Ashoka Buildcon group.
The Proposed Combination involves the acquisition by MIT, acting through Maple Infra Invit Investment Manager Private Limited (Maple IM) of Ashoka Dhankuni Kharagpur Tollway Limited (ADKTL); Ashoka Sambalpur Baragarh Tollway Limited (ASBTL); Ashoka Belgaum Dharwad Tollway Limited (ABDTL); Ashoka Highways (Bhandara) Limited (AHBL); and Ashoka Highways (Durg) Limited (AHDL) (Proposed SPV Acquisitions) and certain inter-connected transactions.
MIT is a private trust settled under the Indian Trusts Act, 1882, and was registered as an infrastructure investment trust under the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, on 24thFebruary 2020. MIT is, through its special purpose vehicles, engaged in the business of owning and operating road assets in India. Maple IM is the investment manager of MIT.
CPDQ Asia is a wholly owned subsidiary of Caisse de dépôt et de placement du Québec (CDPQ). CDPQ is a global investment group that manages the funds of its depositors, primarily comprised of public and para-public pension and insurance plans from Québec.
Maple Sponsor is the sponsor of MIT for purposes of the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014.
360 ONE Private Equity Fund is registered with the SEBI as a Category II Alternative Investment Fund and is established for the purpose of investing in various sectors in India and worldwide. The 360 ONE Private Equity Fund is managed by its investment manager, 360 ONE Alternates Asset Management Limited.
ADKTL, ASBTL, ABDTL, AHBL and AHDL are engaged by the National Highway Authority of India Limited (NHAI) to provide infrastructure concession services.
The Competition Commission of India has approved the acquisition of 100% equity shareholding in 11 road special purpose vehicles owned by Ashoka Concessions Limited and Ashoka Buildcon Limited by Epic Concesiones 2 Private Limited.
The Proposed Combination envisages acquisition of 100% equity shareholding by Epic Concesiones 2 Private Limited (EC2PL) in road 11 special purpose vehicles (Target SPVs) owned by Ashoka Concessions Limited (ACL) and Ashoka Buildcon Limited (ABL) (Proposed Equity Transaction).
EC2PL is a private limited company engaged in owning and operating infrastructure projects. It is owned by Infrastructure Yield Plus II (IYP II) & Infrastructure Yield Plus IIA (IYP IIA) (collectively IYP), which are both schemes of the Infrastructure Yield Trust, an irrevocable and determinate contributory investment trust under the Indian Trusts Act, 1882 and registered with the SEBI as a Category I – Infrastructure Alternative Investment Fund, under the SEBI (Alternative Investment Funds) Regulations, 2012. The investment manager of IYP II and IYP IIA is EAAA India Alternatives Limited (EIAL) which is an indirect wholly-owned subsidiary of EFSL, the parent entity of EC2PL.
The Target SPVs are eleven road SPVs have been incorporated in India and are engaged in the business of operating (through governmental concessions) roads and highways in India.
The Gold Monetisation Scheme (GMS) was announced on 15th September, 2015 with the objective to reduce country’s reliance on the import of gold in the long run and mobilise gold held by households and institutions in the country to facilitate its use for productive purposes.
The GMS comprised of 3 components:
Short Term Bank Deposit (1-3 years)
Medium Term Government Deposit (5-7 years), and
Long-Term Government Deposit (12 – 15 years)
Based on the examination of the performance of the Gold Monetisation Scheme (GMS) and evolving market conditions, it has been decided to discontinue the Medium Term and Long Term Government Deposit (MLTGD) components of the GMS w.e.f. March 26, 2025.
Accordingly, any gold deposits tendered at the designated Collection and Purity Testing Centre (CPTC) or GMS Mobilisation, Collection & Testing Agent (GMCTA) or the designated bank branches under the said components of GMS shall not be accepted with effect from March 26, 2025. However, the existing deposits under MLTGD shall continue till redemption as per extant guidelines of GMS issued vide Reserve Bank Master Direction No. DBR.IBD.No.45/23.67.003/2015-16 dated October 22, 2015 (as updated).
Further, the Short-Term Bank Deposits (STBD) offered by the banks under GMS shall continue at the discretion of the individual banks based on the commercial viability as assessed by them. The detailed guidelines of Reserve Bank in this regard shall follow.
New Investment Policy (NIP) to facilitate fresh investment and making India Self-Sufficient in the urea sector Total 6 new urea units have been set up under NIP-2012 including 4 Urea units set up through Joint Venture Companies (JVC) of nominated PSUs and 2 Urea units set up by the private companies
Posted On: 25 MAR 2025 7:01PM by PIB Delhi
The Government had announced New Investment Policy (NIP) – 2012 on 2nd January, 2013 and its amendment on 7th October, 2014 to facilitate fresh investment in the urea sector and to make India self-sufficient in the urea sector. Total 6 new urea units have been set up under NIP-2012 which includes 4 Urea units set up through Joint Venture Companies (JVC) of nominated PSUs and 2 Urea units set up by the private companies. The units set up through JVC are Ramagundam Urea unit of Ramagundam Fertilizers and Chemicals Ltd (RFCL) in Telangana and 3 Urea units namely Gorakhpur, Sindri and Barauni of Hindustan Urvarak & Rasayan Limited (HURL) in Uttar Pradesh, Jharkhand and Bihar, respectively. The units set up by private companies are Panagarh Urea unit of Matix Fertilizers and Chemicals Ltd. (Matix) in West Bengal; and Gadepan-III Urea unit of Chambal Fertilizers and Chemicals Ltd. (CFCL) in Rajasthan. Each of these units has installed capacity of 12.7 Lakh Metric Tonne per annum (LMTPA). These units are highly energy efficient as they are based on latest technology. Therefore, these units have together added urea production of 76.2 LMTPA thereby total production urea production capacity (RAC) has increased from 207.54 LMTPA during 2014-15 to 283.74 LMTPA in 2023-24.
The Government has implemented Nutrient Based Subsidy Policy w.e.f. 01.04.2010 for Phosphatic and Potassic (P&K) Fertilizers. Under the policy, a fixed amount of subsidy, decided on annual/bi-annual basis, is provided on notified P&K fertilizers depending on their nutrient content. The P&K sector is decontrolled, fertilizer companies are allowed to fix MRP at reasonable levels.The fertilizer companies manufacture/import fertilizers and do investment as per the market dynamics.
This information was given by the Union Minister of State for Chemicals and Fertilizers Smt Anupriya Patel in Rajya Sabha in written reply to a question today.
Government is reviewing the financial performance of Regional Rural Banks (RRBs) at national and regional levels. The agenda items for the review meetings, inter-alia, include:
Review of the performance of RRBs on Financial Parameters and technology upgradation.
Thrust on Micro Small and Medium Enterprise (MSME) portfolio.
Importance on loan diversification towards Agri-allied, MSME and Retail Sectors.
Financial health of RRBs has improved in the recent years as they have posted highest ever consolidated net profit of ₹ 7,571 crore during FY 2023-24. Also, the RRBs have shown consistent improvement in key financial parameters like CRAR, deposits, advances, NPA, CD ratio etc. The Key Financial Parameters of RRBs have improved consistently in past years. The Total Balance sheet Size of RRBs have increased from Rs. 7,04,556 Crore in FY 2021- 22 to Rs. 8,40,080 Crore in FY 2023-24. Further the Net NPA has declined from 4.7% in FY 2021- 22 to 2.4% in FY 2023-24. Also the Credit to Deposit Ratio has increased from 64.5% to 71.4% from FY 2021-22 to FY 2023-24.
Government has also reviewed the progress made by RRBs in deepening financial inclusion in rural and remote areas by reviewing performance on various financial inclusion schemes like Pradhan Mantri Jan Dhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana, Atal Pension Yojana etc.
This information was given by Minister of State in the Ministry of Finance Shri Pankaj Chaudhary written reply to a question in Rajya Sabha today.
Global Head of IBM Corporation, an American multinational Technology Company headquartered in New York with presence in over 175 countries, Shri. Arvind Krishna called on Union Minister Dr. Jitendra Singh to explore potential joint collaborations in Quantum, Artificial Intelligence (AI) and geospatial AI solutions Both sides acknowledge the transformation of India under Prime Minister Narendra Modi which has placed this country as a frontline nation in AI and next-generation technologies
Dr. Jitendra Singh reaffirms government’s pro-technology and forthcoming stance on innovation ecosystem with synergistic collaboration and partnership with the Private sector
S&T Minister reiterates Prime Minister Narendra Modi’s unwavering support for a deep tech enabled India with indigenous solutions
Posted On: 25 MAR 2025 5:49PM by PIB Delhi
In a significant step towards elevating India’s global position in emerging technologies, Global Head of IBM Corporation, an American multinational Technology Company headquartered in New York with presence in over 175 countries, Arvind Krishna called on Union Minister Dr. Jitendra Singh to explore potential joint collaboration in Quantum, Artificial Intelligence (AI) and geospatial AI solutions.
The meeting between the two delegations took place in the backdrop of India’s recently launched National Quantum Mission, positioning the country as a global leader in quantum technologies.
During the discussion, both sides acknowledged the transformation of India under Prime Minister Narendra Modi which has placed this country as a frontline nation in AI and next-generation technologies.
They deliberated on possibilities of integrating geospatial AI solutions to drive innovation and technological advancements across various sectors.
Union Minister Dr. Jitendra Singh, Minister of State (Independent Charge) for Science and Technology, Earth Sciences, and Personnel, Public Grievances and Pensions, reaffirmed the Government of India’s pro-technology stance and its commitment to fostering a robust innovation ecosystem. He highlighted the government’s proactive approach in welcoming private sector participation, citing recent breakthroughs in the space sector following its unlocking for private investment. He also referenced the Union Budget announcement allowing non-government sectors to participate in nuclear energy development as a testament to India’s commitment to deep-tech innovation.
Emphasizing the need for global collaboration, Dr. Jitendra Singh stated that India is now more open than ever to partnerships with private sector players to scale up technological advancements at a global level. He highlighted the role of the Anusandhan National Research Foundation (ANRF) in creating a strong research ecosystem and expressed confidence in the potential of Indian youth to achieve the goals of Viksit Bharat @ 2047.
The Union Minister reiterated the government’s unwavering support for a deep-tech enabled India, emphasizing indigenous solutions and self-reliance in critical technologies. He also asserted that India is at par, if not ahead, of other nations in the field of emerging technologies.
Prof. Abhay Karandikar, Secretary, Department of Science and Technology, actively participated in the discussions, assuring full support from government institutions to facilitate technological collaborations.
From the IBM delegation, Sandip Patel, Country General Manager and MD; Kishore Balaji, Executive Director – GRA; and Amith Singhee, Director, IBM Research India & CTO, were also present, expressing their commitment to deepening IBM’s engagement with India’s technology ecosystem.
The meeting marked a pivotal moment in India’s journey toward becoming a global leader in quantum computing, AI, and deep-tech innovations, with synergistic collaboration between the government and private sector driving the nation toward a technologically advanced future.
Source: Hong Kong Government special administrative region
Speech by Acting CE at Wealth for Good in Hong Kong Summit Principal Dinner (English only) (with photo) Distinguished guests, ladies and gentlemen,
Good evening. It is with great pleasure that I welcome you to tonight’s Principal Dinner, on the eve of the third annual Wealth for Good in Hong Kong Summit.
Allow me to begin by thanking our Hong Kong dancers for their elegant and innovative approach to the traditional Chinese lion dance – tonight performed as a lion ballet dance. That mingling of Asian and Western cultures is very much in keeping with today’s Hong Kong, the world’s rising East-meets-West centre for international cultural exchange.
Hong Kong’s singular role as a gainful bridge between East and West is why many of you are here, with us, from all over the world – from Mainland China and throughout Asia, from Europe, the Americas, the Middle East and beyond. And while our Chief Executive, John Lee, is unfortunately away on a duty visit, I am delighted to be your host for this evening’s gala dinner.
Over these next few days, I invite you to immerse yourselves in all that Hong Kong has to offer – to discover, first-hand, why our city is the leading choice for family offices.
And for good reason. Hong Kong is a super-connector bringing together people and ideas. We are a platform for visionaries looking to create lasting legacies, a dynamic hub where your offices and families can flourish.
The theme of this year’s Wealth for Good in Hong Kong Summit, “Hong Kong of the World, for the World,” smartly reflects that reality, spotlights our commitment to international collaboration and mutual rewards.
Hong Kong’s advantages are clear and unique. Our “one country, two systems” framework ensures close and beneficial ties with our country and deep connectivity with the rest of the world.
It helps, too, that Hong Kong is China’s international financial centre and one of the world’s major financial centres. In the latest Global Financial Centres Index, out last week, Hong Kong maintained its position as the world’s third-ranked financial centre, and the top in the Asia-Pacific. In the Index’s “human capital,” “infrastructure” and “financial sector development” areas, Hong Kong climbed to second, worldwide, while our rankings in “business environment” and “reputational and general” rose to third, globally.
We are at the forefront of digitalisation, too, the first government to issue tokenised green bonds, demonstrating our flexibility and support for financial technology.
And we will soon publish a second policy statement on virtual assets, including advancing stablecoin regulations to set a new global standard for the future of digital finance.
Hong Kong is also a hub for world-class events such as this evening’s. We bring together thought leaders, policymakers, and industry innovators to help shape the future of finance, technology and sustainability.
Yesterday, the Milken Institute held its second Global Investors’ Symposium, attracting senior players from finance, business, technology, healthcare, philanthropy and government.
It’s just one of a number of events making up our “Wealth & Investment Mega-Event Week”. The HSBC Global Investment Summit opened earlier today. On Thursday, we have the Bloomberg Family Office Summit. And the World Economic Forum is hosting several sustainability-themed events here, including Friday’s One Earth Summit.
Our commitment to creating an enriching environment extends beyond finance and investment. Earlier this month, we opened Kai Tak Sports Park, the striking, pearl-like landmark rising from the waterfront in East Kowloon.
The world-class venue features a 50 000-seat stadium, complete with a retractable roof, and stunning views to Victoria Harbour from the South Stand. The 100-metre Champions Bar will be a popular watering hole this weekend, given that the renowned Hong Kong Sevens kicks off on Friday.
And there’s more, much more, on tap this month in Hong Kong. Art Basel Hong Kong opens this week, featuring more than 240 galleries from 42 countries and regions. And the five-day Art Central opens tomorrow, spotlighting Asian galleries and emerging artists.
Family offices, let me add, are no less critical to Hong Kong’s flourishing future.
At the inaugural Wealth for Good in Hong Kong Summit, in 2023, we issued a Policy Statement setting out our strategic vision for family offices.
The majority of the Policy Statement’s eight initiatives have already been implemented, I’m pleased to tell you.
They include establishing a dedicated FamilyOfficeHK team within Invest Hong Kong. To date, the team has helped more than 160 family offices set up or expand their operations in Hong Kong.
We’ve also launched the New Capital Investment Entrant Scheme, designed to attract asset owners to invest and reside in Hong Kong.
And, more good news, a series of enhancement measures are now in place. They include recognising jointly owned assets and investments through specified family-owned entities. And that works well with the tax concession regime we introduced in 2023 for single-family offices.
We are, let me add, expanding tax concessions for single-family offices, increasing the types of qualifying transactions. Add it up, and I think you’ll agree with me that Hong Kong is one of the world’s most attractive destinations for asset owners.
More good reason to turn to Hong Kong for your family office future. You’ll be in good company, with more than 2 700 single-family offices now operating here.
Ladies and gentlemen, I believe we’re just one group photo away from a fine dinner and a fabulous evening.
I wish you all a rewarding Summit and a memorable stay in Hong Kong, Asia’s world city. Thank you. Issued at HKT 20:30
Government Strengthens financial assistance for Loan Schemes for Entrepreneurs, Farmers, Small Businesses and startups PMMY Offers Collateral-Free Loans for Small Businesses across Four Categories
New Loan Scheme for first-Time Entrepreneurs announced in Union Budget 2025-26
In Union Budget 2025-26, the government raised MISS loan limit for KCC borrowers from ₹3 lakh to ₹5 lakh
Jan Samarth Portal: One-Stop Digital Platform for Easy access to 15 Government Loan Schemes
Posted On: 25 MAR 2025 5:48PM by PIB Delhi
The Government runs many credit Schemes for small traders, farmers and startups. The details of few of these schemes are mentioned below.
It provides collateral-free institutional credit through Member Lending Institutions (MLIs) i.e. Scheduled Commercial Banks (SCBs), Regional Rural Banks (RRBs), Non-Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs).
Any individual, who is otherwise eligible to take a loan and has a business plan can avail loan under the Scheme. The loan is available for income generating activities in the manufacturing, trading, services sector and also for activities allied to agriculture across four loan products, viz. Shishu (loans up to Rs. 50,000), Kishore (loans above Rs. 50,000 and up to Rs. 5 lakh) and Tarun (loans above Rs. 5 lakh and up to Rs. 10 lakh). Loans upto Rs. 20 lakh under Tarun Plus category are given to those entrepreneurs who have availed and successfully repaid previous loans under the ‘Tarun’ category.
The objective of the Scheme is to facilitate loans from Scheduled Commercial Banks (SCBs) of value between Rs. 10 lakh and Rs. 1 crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and one Woman borrower per bank branch for setting up greenfield enterprise in manufacturing, services or trading sector, including activities allied to agriculture.
Under both the Schemes, the prospective borrowers may avail the loan for trading, activities allied to agriculture and for new business.
As per para 32 of Union Budget 2025-26 “A new scheme will be launched for 5 lakh women, Scheduled Castes and Scheduled Tribes first- time entrepreneurs. This will provide term loans upto Rs.2.00 crore during next 5 years. The Scheme will incorporate lessons from successful Stand Up India Scheme. Online capacity building for entrepreneurship and managerial skills will also be organized.”
Kisan Credit Card (KCC), introduced in 1998, is a banking product that provides farmers with timely and affordable credit for purchasing agricultural inputs such as seeds, fertilizers, and pesticides, as well as for meeting cash requirements related to crop production and allied activities. In 2019, the KCC scheme was extended to cover the working capital requirements of allied activities, viz. Animal Husbandry, Dairy and Fisheries.
Government of India under Modified Interest Subvention Scheme provides Interest Subvention of 1.5% to banks for providing short-term working capital loans upto Rs. 3 lakh at 7% p.a. Further, a Prompt Repayment Incentive of 3% is also provided to farmers on timely repayment of loans. Therefore, effective interest rate for farmers is 4%. In the Union Budget 2025-26, the Government has announced to enhance loan limit under the MISS from Rs. 3 lakh to Rs. 5 lakh for loans taken through the KCC.
The Jan Samarth portal is a one-stop digital platform for linking fifteen Government-sponsored loans and subsidies Schemes. It provides a quick and efficient way to apply for loans and obtain approvals based on a digital evaluation of the applicant’s data. Further, many Banks and financial institutions have developed online platforms and mobile apps for end to end digital processing of loan applications, reducing the need for physical paperwork and in-person visits.
This information was given by Minister of State in the Ministry of Finance Shri Pankaj Chaudhary written reply to a question in Rajya Sabha today.
Global CEO of Eli Lilly, world’s pioneer Insulin manufacturing Company, David Ricks called on Union Minister Dr. Jitendra Singh to discuss strengthening partnership, with a focus on Insulin and Non-Communicable Disease (NCD) therapies as well as biomanufacturing The talks also covered the establishment of a Centre of Excellence for insulin therapies, as well as clinical trials for advanced treatment options
Posted On: 25 MAR 2025 5:47PM by PIB Delhi
Global CEO of Eli Lilly, world’s pioneer Insulin manufacturing Company, David Ricks called on Union Minister of State (Independent Charge) for Science and Technology; Earth Sciences and Minister of State for PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, Dr. Jitendra Singh to discuss strengthening partnership, with a focus on Insulin and Non-Communicable Disease (NCD) therapies as well as biomanufacturing.
Eli Lilly, a global pharmaceutical giant headquartered in Indianapolis, Indiana and a global pioneer in Insulin production for Diabetes and several other drugs particularly for Cancer etc has a significant presence in India through its subsidiary, Eli Lilly and Company (India) Pvt. Ltd. The company imports and markets medicines for diabetes, gastric cancer, lung cancer, breast cancer, osteoporosis, rheumatoid arthritis, and other critical diseases. Its operations also extend to Nepal, Bangladesh, and Sri Lanka through partnerships with local pharmaceutical firms.
The talks also covered the establishment of a Centre of Excellence for insulin therapies, as well as clinical trials for advanced treatment options.
Dr. Jitendra Singh, himself a renowned Endocrinologist, emphasized on carrying out studies particularly for India, as there is difference in metabolic disorders faced in India and the rest part of the world. He stressed that food habits and phenotype are different thus central obesity and visceral obesity is quite prevalent.
With diabetes being a major health concern in India, discussions on expanding insulin production and accessibility hold immense significance. Dr. Jitendra Singh, who has been vocal about leveraging biotechnology for affordable healthcare solutions, welcomed the dialogue, emphasizing India’s growing capabilities in pharmaceuticals and clinical research. The conversation aligns with the government’s broader push for self-reliance in drug manufacturing and innovation in life sciences.
Referring to India’s push for affordable healthcare for all and the importance of generic medicine, Dr. Jitendra Singh said “Both Generic Medicine and advancement in specialized medicine can co-exist in India.
Eli Lilly’s engagement aligns with the government’s broader vision of achieving self-reliance in drug manufacturing and advancing innovation in life sciences. Dr. Jitendra Singh has emphasized that bio-manufacturing plays a crucial role in India’s Atmanirbhar Bharat initiative by reducing import dependence and ensuring wider access to cutting-edge therapies. He has pointed out that India’s robust pharmaceutical industry, evolving biotech ecosystem, and highly skilled scientific workforce position the country as a potential global leader in bio-manufacturing. The Minister has also highlighted the importance of government-industry collaboration in accelerating research, streamlining regulatory processes, and driving innovation, particularly in insulin production and treatments for non-communicable diseases.
Eli Lilly’s engagement with India comes at a time when the country is focusing on bolstering its pharmaceutical industry, not just for domestic needs but also as a global supplier. The potential establishment of a Centre of Excellence could serve as a critical step in making insulin therapies more accessible, reinforcing India’s role in combating lifestyle diseases.
The meeting underscores the increasing collaboration between global pharmaceutical firms and the Indian government, with a shared vision of enhancing healthcare accessibility and advancing research in non-communicable diseases.
The uniform ban on fishing for 61 days is implemented annually by the Department of Fisheries, Government of India in the Exclusive Economic Zone (EEZ) of India beyond territorial waters on both the coasts for 61 days (i.e., 15th April to 14th June in the East Coast, and 1st June to 31st July in the West Coast) based on the recommendations of the Technical Committee and in consultation with the coastal States/Union Territories (UTs). The traditional non-motorized units are exempted from this uniform fishing ban imposed in the Indian EEZ beyond territorial waters. Similarly, the coastal States/UTs are also implementing the fishing ban within their territorial waters in line with the uniform ban implemented in the EEZ. Under the Pradhan Mantri Matsya Sampada Yojana (PMMSY) implemented by the Department of Fisheries, Government of India, the livelihood and nutritional support for socio-economically backward active traditional fishers is provided during the fishing ban/lean period. Livelihood and nutritional support for 5,97,709 fisher families has been provided annually during fishing ban/lean period, at a total investment of Rs.1059.94 crores during 2020-21 to 2023-24.
As informed by the Department of Commerce, Ministry of Commerce and Industry, Govt. of India, there has been an import of fish and fish products worth 722.01 million USD to India in the last 3 years (FY 2021-22 to FY 2023-24), including import in the state of Tamil Nadu. As informed by the Marine Products Export Development Authority (MPEDA) under the Department of Commerce, Ministry of Commerce and Industry, there has been an export of fish and fish products worth 23,235.78 million USD from India in the last 3 years (FY 2021-22 to FY 2023-24), including fish and fish products worth 2,607.99 million USD from the state of Tamil Nadu.
In order to promote the export of marine products, the Department of Fisheries, Government of India has taken several steps, these inter-alia include support through PMMSY for branding, standards and certification, training and capacity building, creation of post-harvest infrastructure with emphasis on seamless cold-chain and development of modern fishing harbours and fish landing centers, etc. In addition, to address the critical infrastructure requirements of fisheries and aquaculture sectors, the Department of Fisheries, GoI during 2018-19 has created the Fisheries and Aquaculture Infrastructure Development Fund (FIDF) with a total fund size of Rs 7522.48 crore to provide concessional finance to states/UT and private sector. In this regard the supported activities included development of 27,823 ice plant /cold storages and transportation facilities with an investment of ₹1362 Cr, acquisition of 1398 Deep Sea Fishing Vessels (₹ 1310 Cr) and up-gradation of 1338 fishing vessels (₹ 193.64 Cr). Further, Department of Fisheries has also approved the projects for export oriented fish species such as Scampi, Mud crab, Asian Seabass, Cobia etc. and supported the state-of-the-art aquaculture production technologies like RAS and Biofloc. In addition, Department of Fisheries, GoI has notified Tuna Cluster in the Union Territory of Andaman & Nicobar Islands, Seaweed Cluster in the Lakshadweep and has issued the Guidelines for promoting diversified species and Nucleus Breeding Centre (NBCs)/Broodstock Multiplication Centre (BMCs) under the Coastal Aquaculture Authority Act, 2005 (amended in 2023). Apart from this, to ensure the sustainability and uninterrupted supply of Indian seafood material to the US Market, the Department is supporting a Marine Mammal Stock Assessment Project at the cost of around ₹ 13.29 Cr. In order to meet the requirements of the export markets for wild-caught shrimp, the Department of Fisheries is facilitating the installation of Turtle Excluder Devices (TEDs) in shrimp trawlers by including TEDs as a separate line item under the PMMSY scheme, and has advised the maritime states/UTs to mandate TED usage in trawl nets through amendments in their respective Marine Fisheries Regulation Acts. To strengthen India’s seafood sector globally, the Government is facilitating ease of business by amending Coastal Aquaculture Authority Act (Amendment) 2023. In addition, the Department is conducting Investors meets, Stakeholders consultation and also advising the States/UTs to encourage the farmers to attend the technical and demonstration workshops/training programs related to seed and feed, technology infusion, ornamental fisheries, hatchery technologies etc. on periodic basis in order to increase in productivity and quality of fishery produce.
This information was given by Union Minister of State, Ministry of Fisheries, Animal Husbandry and Dairying, Shri George Kurian, in a written reply in Lok Sabha on 25th March, 2025.
Ministry of Fisheries, Animal Husbandry & Dairying
Aquaculture and Marine Export
Posted On: 25 MAR 2025 5:42PM by PIB Delhi
The Government of India, Ministry of Commerce and Industry has established the Marine Products Export Development Authority (MPEDA) as a dedicated agency to facilitate export of seafood. MPEDA, through its field offices in maritime States and registered societies like NaCSA (National Centre for Sustainable Aquaculture), NETFISH (Network for Fish Quality Management & Sustainable Fishing) and RGCA (Rajiv Gandhi Centre for Aquaculture) is taking various activities to promote sustainable aquaculture and marine exports. In aquaculture, MPEDA focused on capacity building for better management practices, antibiotic reduction through initiatives like “SHAPHARI” certification and ELISA labs, and disease control through Aqua One Centres and mobile labs. MPEDA also supported sustainable shrimp farming through NaCSA and operated seven technology transfer projects via RGCA. In the marine sector, MPEDA, primarily through NETFISH, conducted workshops and trials for Turtle Excluder Device (TED) implementation, supported marine mammal stock assessments for US Marine Mammal Protection Act (MMPA) compliance, promoted eco-friendly fishing gear like square mesh cod ends, and organized numerous coastal clean-up drives and plastic collection projects and hands-on training programs and meets. The details of these projects and their outcomes, project-wise is furnished as Annexure-I and II.
MPEDA has implemented several measures to promote environmentally sustainable shrimp farming by encouraging eco-friendly practices, responsible resource management, and disease prevention strategies. MPEDA also ensure quality and traceability through farm/hatchery enrollment and SHAPHARI certification programs, which include geographical mapping and unique identification numbers. MPEDA supports infrastructure development by providing financial assistance for nursery-rearing units and shrimp handling centers, all aimed at enhancing sustainable practices and ensuring high-quality, safe shrimp production for export. Additionally, through various training programs, MPEDA promote sustainable shrimp farming. With regard to seaweed cultivation, MPEDA-RGCA signed MoU with Department of Fisheries and Fisheries Welfare, Government of Tamil Nadu for supplying the quality germplasm of seaweeds and technical consultant for establishment of Multipurpose Seaweed Aqua Park under Pradhan Mantri Matsya Sampda Yojana (PMMSY) assistance.
Annexure-I
Aquaculture and Marine Export.
Sl.No.
Name of the project
Name of the produce/ services
No. of Beneficiaries
Quantity supplied
1
Asian Seabass Hatchery, Thoduvai, Tamil Nadu
Seabass fingerlings (nos.)
4300
49.8 million
2
Mud crab Hatchery,
Thoduvai, Tamil Nadu
Crab instar (nos.)
919
11.27 million
3
GIFT Tilapia Hatchery
Vijayawada, Andra Pradesh
GIFT seed (nos.)
581
50.48 million
GIFT brood-fry (nos.)
50
84,295
4
Marine Finfish Hatchery,
Pozhiyoor, Kerala
Cobia fingerlings (nos.)
95
1,25,091
Pompano (nos)
115
5,02,250
5
Aquatic Quarantine Facilities for
L. vannamei, Chennai, Tamil Nadu
L. vannamei Broodstocks (nos.) quarantined
4,175
25,26,607
P. monodon broodstocks (nos.) quarantined
28,128
P. monodon PPLs (nos.) quarantined
1,84,077
L. vannamei PPLs (nos.)
9,19,431
6
Artemia Demo Farm at
Tharuvaikulam&Uppoor, Tamil Nadu
Artemia biomass (kg)
725
9400
Artemia cyst (tins)
4,673
7
Multispecies Aquaculture Complex (MAC)
Vallarpadam, Kerala
GIFT Seed (nos.)
8,704
15.68 million
Seabass fingerlings (nos.)
1,484
14,12,018
Etroplus suratensis seed (nos.)
690
12,12,425
P. monodon seed (nos.)
185
89,69,455
Contribution from RGCA Central Laboratories
S.No
Laboratory
Testing (by samples)
Samples
(Nos)
No. of Beneficiaries
1
Mobile Aquaculture Disease Diagnosis Laboratory
Molecular diseases diagnosis (PCR)
4,570
1,094
Microbiology & water parameters
2
Central Aquaculture Pathology Laboratory
Molecular diseases diagnosis (PCR), Microbiology & water parameters,Histology
Disease surveillance / NSPAAD,
Seed health, PCR-based species identification,Sequencing-based species identification
30,635
4,532
3
Central Aquaculture Genetics Laboratory
24,897
555
Annexure-II
Aquaculture and Marine Export.
Sl.No.
Hands on Training Program/ Meets
No. of Trainings/ Events
No. of Beneficiaries
1
Best Management Practices of nursery, grow-out and cage culture in earthen ponds for Asian Seabass
95
1,814
2
Best Management Practices of nursery, grow-out and Softshell culture of Mangrove Mud crab
106
1,909
3
Breeding, Seed Production and Grow – out farming of Genetically Improved Farmed Tilapia (GIFT)
79
1,165
4
Artificial Insemination Technique used for SPF Black Tiger Shrimp, Penaeus monodon with special reference to Broodstock Management, Maturation and Seed Production
4
22
5
Hatchery Production of Marine Finfish
2
3
6
Artemia Production & Processing of Cyst and Biomass
8
265
7
PCR and its Application in Aquaculture Pathology
44
945
8
PCR and its Application in Aquaculture Genetics Research
37
773
9
RAS ( Re-circulatory Aquaculture System)
1
23
10
Training at MAC, Vallarpadam
13
203
11
Farmers Meet/ Program for SC/ST beneficiaries:
on Diversified Aquaculture/
558
17563
This information was given by Union Minister of State, Ministry of Fisheries, Animal Husbandry and Dairying, Shri George Kurian, in a written reply in Lok Sabha on 25th March, 2025.