PM inaugurates Sabar Dairy’s multiple projects to boost Guj rural economy

Sabarkantha (Gujarat): Prime Minister Narendra Modi on Thursday inaugurated and laid the foundation stone of multiple projects of Sabar Dairy at Gadhoda Chowki in Gujarat`s Sabarkantha worth more than Rs 1,000 crores on July 28. According to Prime Minister`s Office (PMO), these projects will empower local farmers and milk producers and increase their income. This will also give a boost to the rural economy in the region.

PM Modi integrated 120 metric tonnes per day (MTPD) Powder manufacturing plant at Sabar Dairy in Sabarkantha.The total cost of the entire project is more than Rs 300 crores. The layout of the plant meets global food safety standards. It is highly energy efficient with almost zero emission. 

The plant is equipped with the latest and fully automated bulk packing line. Prime Minister also inaugurated the Aseptic Milk Packaging Plant at Sabar Dairy. It is a state-of-the-art plant with having capacity of 3 Lakh Litre per day. The project has been executed with a total investment of around Rs 125 crores. 

The plant has the latest automation system with highly energy efficient and environment-friendly technology. The project will help ensure better remuneration to milk producers. Prime Minister also laid the foundation stone of the Sabar Cheese and Whey Drying Plant Project. 

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The estimated outlay of the project is around Rs 600 crores. The Plant will manufacture Cheddar Cheese (20 MTPD), Mozzarella Cheese (10 MTPD) and Processed Cheese (16 MTPD). Whey generated during the manufacturing of cheese shall also be dried at Whey Drying Plant, having a capacity of 40 MTPD.

Sabar Dairy is a part of Gujarat Cooperative Milk Marketing Federation (GCMMF), which makes and markets a whole range of milk and milk products under the Amul brand.On July 29, Prime Minister will visit GIFT City in Gandhinagar. 

GIFT city (Gujarat International Finance Tec-City) was envisaged as an integrated hub for financial and technology services not just for India but for the world. Prime Minister will lay the foundation stone of the Headquarters Building of the International Financial Services Centres Authority (IFSCA), the unified regulator for the development and regulation of financial products, financial services and financial institutions in International Financial Services Centres (IFSCs) in India. 

The building has been conceptualised as an iconic structure, reflective of the growing prominence and stature of GIFT-IFSC as a leading International Financial Centre.Prime Minister will launch India International Bullion Exchange (IIBX), India`s first International Bullion Exchange in GIFT-IFSC. 

IIBX will facilitate efficient price discovery with the assurance of responsible sourcing and quality, apart from giving impetus to the financialisation of gold in India. It will empower India to gain its rightful place in the global bullion market and serve the global value chain with integrity and quality. IIBX also re-enforces the commitment of the Government of India towards enabling India to be able to influence global bullion prices as a principal consumer.

Prime Minister will also launch NSE IFSC-SGX Connect. It is a framework between NSE`s subsidiary in GIFT International Financial Services Centre (IFSC) and Singapore Exchange Limited (SGX). 

Under Connect, all orders on NIFTY derivatives placed by members of the Singapore Exchange will be routed to and matched on the NSE-IFSC order matching and trading platform. Broker-Dealers from India and across international jurisdictions are expected to participate in large numbers for trading derivatives through Connect. It will deepen liquidity in derivative markets at GIFT-IFSC, bringing in more international participants and creating a positive impact on the financial ecosystem in the GIFT-IFSC.