DAILY CURRENT AFFAIRS

By admin: April 3, 2024

PepsiCo India to Establish Rs 1266 Crore Flavor Plant in Ujjain

Tags: Economy/Finance

PepsiCo India announced a significant investment of Rs 1266 crore to set up a flavor manufacturing facility in Ujjain, Madhya Pradesh.

An Overview of the News

• This investment is in line with the vision of Aatmanirbhar Bharat, reflecting PepsiCo India's commitment to domestic manufacturing. It will produce beverage flavors specifically designed for the Indian market.

Existing Facilities and Future Operations:

• This will be PepsiCo India's second flavor manufacturing facility in the country, with the first one being located in Channo, Punjab.

• Construction of the Ujjain plant is scheduled to begin in 2024, with operations expected to begin in the first quarter of 2026.

Collaboration with Madhya Pradesh Government:

• Jagrut Kotecha, Chief Executive Officer, India and South Asia, PepsiCo, expressed his gratitude for the support of the Madhya Pradesh government, emphasizing the company's commitment to enhancing the socio-economic landscape of the region.

About PepsiCo

• PepsiCo, Inc. is a global company headquartered in Harrison, New York.

• It serves the food, snack and beverage industries.

• PepsiCo handles the manufacturing, distribution and marketing of its products.

• The company oversees all aspects of the food and beverage market.

CEO - Ramon Laguarta

CFO - Hugh F. Johnston

CIO - Seth Cohen

COO - Gregg Roden

Lt Gen JS Sidana takes over as 33rd DG Electronics and Mechanical Engineers

Tags: Person in news

Lieutenant General JS Sidana took charge as the 33rd Director General of the Department of Electronics and Mechanical Engineers (DGEME) and Senior Colonel Commandant of the EME Corps on April 1, 2024.

An Overview of the News

• In a career spanning 38 years, Lieutenant General JS Sidana has served in various important roles including regimental, command, instructional and staff appointments.

• Prior to his present appointment, he served as the Commandant of the Military College, EME for two years.

• He has also held the rank of Master General, EME at Headquarters Central Command and has commanded the Army Base Workshop and EME Centre.

Sidana's educational background:

• Lieutenant General JS Sidana is an alumnus of the National Defense Academy, Khadakwasla, and was commissioned into the EME Corps from the Indian Military Academy, Dehradun on December 14, 1985.

• His educational qualifications include a Master of Management Studies from Osmania University, M.Tech from IIT Kanpur, and a Master of Philosophy from Panjab University.

Vision for the Corps:

• Lieutenant General JS Sidana has encouraged all levels of personnel of the Corps to embrace technology and innovation for effective engineering support to the Indian Army.

• He emphasizes the importance of leveraging technology to increase operational efficiency and readiness.

Tribute to martyred soldiers:

• On assuming charge as DGEME, Lieutenant General JS Sidana paid tribute to the brave soldiers of the Corps by laying a wreath at the National War Memorial in New Delhi.

NHAI Implements 'One Vehicle, One FASTag' Norm

Tags: National News

The National Highways Authority of India (NHAI) has initiated the 'One Vehicle, One FASTag' norm to address misuse of FASTags.

An Overview of the News

• This norm discourages the practice of using a single FASTag for multiple vehicles or linking multiple FASTags to a single vehicle.

Compliance Deadline Extension:

• NHAI extended the compliance deadline for the initiative until the end of March due to issues faced by Paytm FASTag users.

Effective Enforcement Date:

• Starting April 1st, 2024, multiple FASTags for a single vehicle will cease to function, and users with such setups won't be able to utilize them.

Objectives of the Initiative:

• NHAI aims to enhance the efficiency of electronic toll collection and ensure smooth traffic flow at toll plazas through the 'One Vehicle, One FASTag' initiative.

Overview of FASTag System:

• FASTag, operated by NHAI, is an electronic toll collection system widely adopted in India with over 8 crore users and a penetration rate of around 98%.

• It utilizes Radio Frequency Identification (RFID) technology for toll payments directly from linked prepaid or savings accounts or directly to the toll owner.

Sanjay Nair assumed the post of President of ASSOCHAM

Tags: Person in news

Sorin Investment Fund Chairman Sanjay Nair assumes charge as President of the Associated Chambers of Commerce and Industry of India (ASSOCHAM) for the period 2024-25.

An Overview of the News

• Sanjay will succeed Ajay Singh, Chairman and Managing Director, of SpiceJet, who has completed his tenure as President of the Chamber.

• Nair has extensive experience in the global financial and capital markets with four decades of expertise, including 25 years at Citi and nearly 14 years at KKR before retiring last year.

• Nair expressed his commitment to cooperate closely with the government to achieve Prime Minister Modi's goal of transforming India into a developed nation during his presidential tenure.

About ASSOCHAM

• It is a non-governmental trade association and advocacy group headquartered in New Delhi, India.

• Its primary function is to represent the interests of trade and commerce within India.

• ASSOCHAM acts as an intermediary between various trade-related issues and initiatives.

• The organization aims to promote both domestic and international trade.

• One of its major objectives is to reduce trade barriers and create a conducive environment for the growth of trade and industry in India.