New Delhi, Sep 12: India and Iceland are set to enhance collaboration in fisheries and aquaculture, emphasising sustainable practices, zero-waste models, technology transfer and cluster-based development, the government said on Friday.

An Indian delegation, led by Dr. Abhilaksh Likhi, Secretary of the Department of Fisheries, completed a three-day official visit in Iceland’s Reykjavík to strengthen bilateral cooperation through strategic partnerships, investment promotion, and innovation exchange, an official statement said.

Likhi met with senior representatives of the Iceland Ocean Cluster and discussed cooperative innovation in fish processing, value addition, traceability, and certification. BRIM and Hampiðjan, leading Icelandic companies, provided insights into their advanced zero-waste models and cutting-edge processing technologies.

“Both sides explored investment opportunities for the Icelandic seafood processing industry in India, along with ways to deepen business-to-business (B2B) linkages,” the statement said.

The delegation also visited MATIS, Iceland’s top food and biotech R&D institute, to discuss cooperation in biotechnology, food safety, and marine resource utilisation. The visit opened new avenues for collaboration in research and technology transfer to bolster India’s fisheries value chain, the release added.

Emphasis was also laid on training and capacity building in deep-sea fishing technologies, alongside the adoption of advanced vessel monitoring and surveillance (VMS) systems, the ministry of Fisheries said.

The two sides explored opportunities in deep-sea fishing technologies, vessel monitoring systems, trout farming, and tuna innovations for India’s islands.

The government has adopted a cluster-based development model under the PMMSY, with 34 clusters notified so far. The cluster-based approach enhances competitiveness and efficiency by uniting geographically connected enterprises of all sizes – micro, small, medium, and large-across the entire value chain, from production to exports.

The country’s total fish production has grown by 104 per cent from 96 lakh tonnes in 2013–14 to 195 lakh tonnes in 2024–25, as inland fisheries expanded by 142 per cent for the same period from 61 lakh tonnes to 147.37 lakh tonnes, according to government data.

India stands as the second largest fish producing nation in the world, contributing around 8 per cent of global output.

Mumbai, Sep 12: The Indian benchmark indices opened with mild gains on Friday on the back of strong global cues, driven by growing expectations of a US Federal Reserve rate cut next week.

As of 9.25 am, Sensex was up 114 points or 0.14 per cent at 81,663, and Nifty was up 39 points or 0.16 per cent at 25,045.

The broadcap indices outperformed benchmark indices, as Nifty Midcap 100 inched up by 0.43 per cent, and the Nifty Small cap 100 moved up 0.36 per cent.

Adani Enterprises, Infosys, TCS, NTPC and Axis Bank were among major gainers on Nifty, while losers were Bajaj Finserv, Titan Company and Tata Consumer Products.

Among sectoral indices, Nifty Auto, the top gainer, jumped 1.01 per cent. Nifty IT (up 0.74 per cent) and Nifty Metal (up 0.59 per cent) were the other major gainers. Nifty FMCG was the top loser down 0.62 per cent.

Adding to the investor optimism, US President Donald Trump has reportedly invited Union Commerce Minister Piyush Goyal for a meeting with the US Trade Representative to discuss a potential trade deal — a development that could ease tensions between the two countries.

Nifty on Thursday managed to surpass the 25,000 hurdle and continued its upward journey for the seventh day in a row to close at its highest levels since 21 August. Nifty finally managed to close above the downward sloping trend line resistance on the daily chart

Analysts said that the short-term trend of the Nifty remains bullish as it has been holding above 5, 20 and 50 DMAs. Immediate resistance for Nifty is seen at 25153, derived from the previous swing high.

US markets surged to fresh records overnight as jobless claims spiked to a four-year high of 263,000, cementing expectations for Federal Reserve rate cuts despite August inflation accelerating to 2.9 per cent.

The Dow Jones Industrial Average jumped 1.36 per cent, while the Nasdaq advanced by 0.72 per cent and the S&P 500 gained 0.85 per cent.

Markets now price in a 94.8 per cent probability of a quarter-point Fed cut next week, with only 5.2 per cent odds of a half-point reduction.

Most of the Asian markets made strong gains during the morning session. While China’s Shanghai index advanced 0.24 per cent, and Shenzhen added 0.15 per cent, Japan’s Nikkei rose 0.91 per cent, while Hong Kong’s Hang Seng Index jumped 1.42 per cent. South Korea’s Kospi inched up 1.15 per cent.

On Thursday, foreign institutional investors (FIIs) net sold equities worth Rs 3,472 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 4,046 crore.

Mumbai: The Reserve Bank of India (RBI) has made a significant acquisition, purchasing a 4.61-acre land parcel in Nariman Point, South Mumbai, from the Mumbai Metro Rail Corporation Ltd (MMRCL) for ₹3,472 crore. This transaction is one of the largest land deals in India in 2023, and the prime location near key government and corporate institutions enhances its long-term value.

MMRCL initially intended to auction the property through a global tender, marking the first auction in Nariman Point since its establishment as a commercial district in the 1970s. However, the tender was halted after RBI expressed interest in expanding its headquarters in January.

The deal, registered on September 5, included a stamp duty of over ₹208 crore. For RBI, this acquisition expands its real estate holdings in Mumbai, where it already has properties, including its Mint Road headquarters. The new site is planned for institutional use, which will bolster the central bank’s presence in India’s financial hub.

MMRCL, responsible for developing metro projects in Mumbai, has been monetizing land in the area to support metro expansion efforts. Despite the development of new business hubs like Bandra-Kurla Complex and Lower Parel, experts emphasize that the RBI deal underscores Nariman Point’s enduring stature in the commercial real estate sector.

The concluded sale, which came after a failed auction attempt, also included a 90-year lease on the land at the significantly lower price of ₹3,471.82 crore compared to the reserve price of ₹5,173 crore set for the global bid. The acquisition aligns with RBI’s long-term strategy, as the organization has been looking for office spaces of at least 30,000 sq ft in South Mumbai for four years. The land has a buildable area of 1.6 million sq ft, with 113,500 sq ft designated for the relocation of previous occupants.

Part of the proceeds from the sale will assist MMRCL in repaying a loan from the Japan International Cooperation Agency (JICA) for constructing the underground metro line, which has a revised cost of ₹37,276 crore, with a substantial portion financed by JICA. This acquisition reinforces Nariman Point’s significance in India’s real estate landscape, reflecting institutional confidence in Mumbai’s ongoing value as a financial center.