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Economy

Contract Farming• Just days after multi-billion dollar conglomerate PepsiCo sued four Gujarati farmers, asking them to pay ₹1.05 crore each as damages for ‘infringing its rights’ by growing the potato variety used in its Lays chips, farmers groups have launched a campaign calling for government intervention.
• Farmers groups are pointing out that the law allows them to grow and sell any variety of crop or even seed as long as they don’t sell branded seed of registered varieties.
• The farmers want the Protection of Plant Varieties and Farmers’ Rights Authority (PPV&FRA) to make a submission in court on their behalf and fund legal costs through the National Gene Fund.
Technical Textiles• Union Ministry of Textiles is in discussions with other countries to support the Indian textile industry with technology for speciality fibre. It is in talks with Japan and is also discussing with some companies in the U.S. in this regard.
• A technical textile is a textile product manufactured for non-aesthetic purposes, where function is the primary criterion.
• It include textiles for automotive applications, medical textiles, geo-textiles, agro-textiles, and protective clothing.
Transportation• New York has approved “congestion pricing” for the busiest part of Manhattan. Motorists will be electronically charged, in a first for the US. Much of the revenue collected will go toward improving the city’s decrepit public transit system.
Public Listing• BSE had launched the Start Up platform in Dec 2018 with an aim to encourage entrepreneurs to get listed and raise equity capital for their growth and expansion.
• To further strengthen it, BSE has signed a MOU with HDFC Bank to spread more awareness on the benefits of listing on BSES Startups on this platform.