Union Cabinet on Thursday apporoved norms for state-run companies in defence to set up joint ventures. These guidelines will take care of important security related issues. These include, fairness and transparency in selection of joint venture partner, scope of partnership, retention of affirmative right of state-run company for prior approval to key decisions and exit provisions, among others.

“The guidelines will provide a streamlined, fair and transparent framework for entering into joint ventures by defence public sector undertakings with ultimate objective of better risk-management, greater efficiency, shorter time frames for delivery to meet the increasing demands of our armed forces, and for enhancing self-reliance in the defence sector as a whole,” government said in a statement. Board of the government-run enterprises would undertake the formation of joint ventures.

At the same time, Centre also approved setting up of a national centre for cold chain development (NCCD). Government has allocated Rs 25 crore as one time grant for setting up a corpus fund for NCCD.

“Union Cabinet gave its ex-post facto approval for registering NCCD as a society under the Societies Registration Act, 1860 with its Memorandum of Association and Rules and Regulations,” government said.

NCCD will have 22-member board comprising officials from government, industry body – CII and Ficci, growers, cold chain equipment manufacturers and suppliers, among others.

India suffers a huge post harvest loss of fruits, vegetables and flowers. The country produces 71.5 million tonnes of fruits, 133.7 million tonnes of vegetables and 17.8 million tonnes of other commodities such as flowers, spices, coconut, cashew, mushroom and honey. India ranks second among largest producer of horticultural commodities in the world. Prime minister Manmohan Singh headed Cabinet also gave its nod to National Data Sharing and Accessibility Policy – 2012 (NDSAP-2012).