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Indian Renewable Energy Development Agency Limited (IREDA)

  Jul 25, 2020

Indian Renewable Energy Development Agency Limited (IREDA)

What is IREDA?

Indian Renewable Energy Development Agency Limited (IREDA) is a Mini Ratna (Category – I) Government of India Enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE).

IREDA is a Public Limited Government Company established as a Non-Banking Financial Institution in 1987 engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation with the motto: “ENERGY FOR EVER”. 

What is the main function of IREDA?

IREDA is dedicated financing arm of Ministry of New and Renewable Energy for financing renewable and energy efficiency projects.

It has been spearheading growth of renewable energy in the country for over three decades. To meet financing requirements, it has been raising resources from various bilateral and multilateral agencies, Masala bonds and domestic – taxable and tax-free bonds. It has financed renewable and energy efficiency projects of financial value of over Rs. 34,534 crore till date. 

What are the main objectives of the organization?

Export Zones for Poultry Sector 

Under Agriculture Export Policy, 2018, Poultry Clusters at Namakkal, Salem and Erode districts of Tamil Nadu State have been identified for increasing supply and exports of poultry products. 

When was the concept of Agriculture export zones introduced in India?

The concept of separate export zones was introduced by the Government through Exim Policy in 2001.  Due to non-satisfactory performance of the Agri Export Zones (AEZ), the Ministry constituted a Peer Review Group for its re-valuation.  On the basis of the recommendations of the Peer Review Group, it was decided not to consider and approve new separate AEZ. 

What is an AEZ?

An Agri Export Zone or AEZ is a specific geographic region in a country demarcated for setting up agriculture based processing industries, mainly for export

What are poultry clusters?

Poultry clusters are the part of AEZ focusing mainly on exports of Poultry products. 

How many Poultry Clusters are proposed to be set up?

Department of Animal Husbandry and Dairying has recognised 29 poultry establishments (10 establishments in Tamil Nadu, 13 establishments in Maharashtra andestablishments in Chhattisgarh) as Compartment free from Avian Influenza as per norms of World Organisation for Animal Health (OIE) intended for export of poultry and poultry products. 

What are the objectives of AEZ?

The objective of setting up AEZs is to converge the efforts made, hitherto, by various central and state government departments for increasing exports of agricultural commodities from India. The AEZ takes a comprehensive view of a particular produce/ product located in a geographically contiguous area for the purpose of developing and sourcing raw materials, their processing/packaging, and leading to final exports.

The major components of this comprehensive concept are:

-Cluster approach of identifying the potential products and geographical region in which these products are grown.

-Adopting an end-to-end approach of integrating the entire process, right from the stage of production till it reaches the consumption stage.

-Integration of the activities of various agencies connected with the department of the product. 

What were the constraints noticed in setting up of AEZ?

The constraints like lack of interest and coordination amongst the stakeholders, lack of separate allocation of funds by the State Governments, lack of project orientation and conceptual design of separate AEZ etc. were noticed.  

How many such AEZ exists?

With the primary objective of boosting agricultural exports from India, in March 2001, Government of India announced a policy of setting up of Agri Export Zones (AEZs) across the country. The Central Government has sanctioned 60 AEZs comprising about 40 agricultural commodities. AEZs is spread across 20 states in the country.