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360 ONE Asset, a subsidiary of 360 ONE WAM, has unveiled a ₹500 crore early-stage venture capital fund aimed at supporting innovative founders in emerging sectors such as consumer technology, fintech infrastructure, generative AI, and frontier technologies like spacetech, defence, and precision manufacturing. This initiative is part of a broader ₹25,000 crore (USD 3 billion) strategy, which includes diverse investments ranging from gaming to space-tech. Sameer Nath, CIO of 360 ONE Asset, emphasized the fund's role in identifying and nurturing the next generation of unicorns as India embarks on a new wave of startup-led economic transformation. The fund is backed by a seasoned team and an Advisory Board featuring industry leaders like Gaurav Kushwaha and Nigel Vaz. Abhishek Nag, Senior Fund Manager, highlighted the fund's goal to bridge the gap between India's micro-VC ecosystem and larger global funds, providing long-term support to exceptional founders. 
Published: May 22 2025, 9 pmeznews.inGlobal cocoa production is anticipated to rebound after the 2024-25 season, driven by rising prices that are expected to encourage increased farm care and new plantings, particularly outside the traditional producers of Côte d’Ivoire and Ghana. According to a Rabobank report, while cocoa prices may gradually decline in the short to medium term due to a forecasted global surplus, they will remain above pre-2023 levels. The report highlights a potential structural shift in production, which could stabilize the market but also risks oversupply and subsequent price collapses by the 2027-28 season. Global production is projected to reach 4.76 million tonnes in 2024-25, with Côte d’Ivoire and Ghana expected to contribute significantly. However, volatility in the cocoa market is likely to persist due to low global stocks, erratic weather patterns, and ongoing issues with illegal exports, complicating accurate forecasting and market stability.
Published: May 23 2025, 3 pmeznews.inThe Group of Ministers (GoM) on Compensation Cess, led by Minister of State for Finance Pankaj Chaudhary, is exploring options to retain cess revenue beyond March 2026 and determine its distribution between the Centre and the states. A forthcoming meeting of the GST Council is expected to address the simplification and rationalisation of GST rates, alongside discussions on the future of the compensation cess. Currently, the cess, imposed on luxury and sin goods, is primarily used to repay loans incurred during the COVID-19 pandemic to offset GST revenue losses for states. The GoM is tasked with investigating how to sustain cess revenue in a different format and establish a fair sharing mechanism. Previous meetings of the GST Council have not yet addressed the GoM's recommendations on rate adjustments for health and life insurance, with final reports still pending.
Published: May 23 2025, 3 pmeznews.inGMR Airports Ltd (GAL), which operates Delhi, Hyderabad, and Mopa airports, reported a consolidated loss of ₹253 crore for the quarter ending March 2025, an increase from a loss of ₹168 crore in the same period last year, despite a rise in total income to ₹2,977 crore. For the fiscal year 2024-25, the company's loss narrowed slightly to ₹817 crore from ₹829 crore the previous year. Passenger traffic at GAL-owned airports grew by 9% year-on-year, reaching 31.5 million in Q4 and 120.5 million for the fiscal year. GAL also manages Medan Airport in Indonesia and is developing Crete Airport in Greece and Bhogapuram Airport in Andhra Pradesh. A new tariff order from the Airports Economic Regulatory Authority (AERA) is expected to enhance revenue and profitability for Delhi International Airport Ltd (DIAL), which operates Indira Gandhi International Airport. Following the announcement, GAL's shares fell over 2% to ₹87.08.
Published: May 23 2025, 3 pmeznews.inIn a significant boost for the Scheduled Caste community in Kerala's Kodungallur, 15 families have achieved a remarkable harvest of mussels, thanks to the support of the Central Marine Fisheries Research Institute (CMFRI). Under the Scheduled Caste Sub Plan (SCSP), CMFRI established two mussel farms using GI pipes in December, providing essential scientific and technical assistance to promote sustainable aquaculture. The initiative has proven successful, with the two self-help groups collectively yielding 1.7 tonnes of mussels, which are expected to sell for ₹200-250 per kilogram. CMFRI scientists emphasized the potential of this affordable farming method to empower marginalized coastal communities, highlighting its role in improving living standards and fostering economic independence. The project reflects a broader commitment to enhancing the livelihoods of disadvantaged groups through innovative agricultural practices.
Published: May 23 2025, 3 pmeznews.inAugsenselab, a quantum sensing and remote sensing startup based in Thiruvananthapuram, has secured $0.5 million in pre-seed funding from Emul Tek Private Limited, a subsidiary of Solar Industries India Limited. Founded in 2019 by five tech entrepreneurs, the company aims to enhance remote sensing technologies, particularly in Electronic Intelligence (ELINT) systems and high-precision atmospheric profiling for weather forecasting and disaster response. Augsenselab has partnered with the Kerala Development and Innovation Strategic Council to develop a hyperlocal weather prediction system to forecast cloudbursts and potential landslides. Co-Founder and CEO Kannan Kesavapillai emphasized that the funding will expedite the deployment of next-generation sensing solutions, addressing national security and environmental challenges. With the global market for quantum sensing projected to reach $2.4 billion by 2030, Augsenselab is positioned as a key player in the evolving landscape of precision intelligence and environmental monitoring.
Published: May 23 2025, 3 pmeznews.inIndia is poised to open a significant portion of its government procurement market, valued at over $50 billion, to US firms, marking a notable shift in its trade policy. This move follows a recent free trade agreement with the UK, which also allows British companies access to select federal contracts. The Indian government, while negotiating a trade deal with the US, plans to gradually and reciprocally permit foreign firms to bid on federal projects, although state and local government contracts will remain off-limits. Currently, India's public procurement market is estimated at $700 billion to $750 billion annually, with a quarter reserved for small businesses. The US Trade Representative has previously highlighted challenges posed by India's restrictive procurement policies. Indian Trade Minister Piyush Goyal's recent visit to Washington aims to expedite these trade discussions, with both nations targeting an interim agreement by early July.
Published: May 23 2025, 1 pmeznews.inIn a recent meeting with Finance Minister Nirmala Sitharaman, Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu raised concerns over the impact of Turkish apple imports on local growers, urging for a universal increase in import duties to safeguard the interests of Indian apple farmers. The Chief Minister also discussed various budgetary and financial matters requiring the Union Government's attention, including a request to raise the borrowing limit for Himachal and other special category states by at least two percent. Sukhu highlighted the state government's initiatives aimed at improving fiscal management and enhancing financial resources, despite facing significant financial challenges. The discussions reflect ongoing efforts to address the economic needs of Himachal Pradesh and support its agricultural sector.
Published: May 23 2025, 12 pmeznews.inThe Marine Products Export Development Authority (MPEDA) is set to host the Seafood Expo Bharat (SEB) from July 1 to 3 at the Chennai Trade Centre, aiming to highlight India's seafood export potential and advancements in aquaculture. The event will gather seafood exporters, importers, farmers, and equipment manufacturers, providing a platform for showcasing innovative technologies and fostering international business connections. A key feature of SEB is the Reverse Buyer-Seller Meet (RBSM), designed to facilitate direct interactions between 48 global buyers from 12 countries and Indian exporters. To bolster buyer confidence, MPEDA plans a field visit to Andhra Pradesh, where attendees can tour state-of-the-art processing plants and shrimp farms. The expo will serve as a vital networking opportunity for stakeholders across the seafood sector, including hatchery operators, processors, and technical experts, to discuss industry developments and forge trade relationships.
Published: May 23 2025, 12 pmeznews.inUnion Commerce and Industry Minister Piyush Goyal described his recent meeting with US Commerce Secretary Howard Lutnick in Washington as "constructive," focusing on a "mutually beneficial" bilateral trade agreement (BTA). Goyal emphasized the importance of enhancing opportunities for Indian businesses, despite the challenging backdrop of US President Donald Trump's aggressive tariff policies. The discussions come amid a 90-day pause on reciprocal tariffs, initiated by Trump, which has placed India at a disadvantage with a 26% tariff compared to higher rates for countries like Vietnam and Bangladesh. Goyal's meetings with Lutnick and US Trade Representative Jamieson Greer aim to finalize an interim trade agreement before the July 8 deadline, while also advancing negotiations for a comprehensive BTA by Fall 2025. The US is pushing for significant tariff reductions on various products, alongside commitments on digital trade and market access for specific goods.
Published: May 23 2025, 12 pmeznews.inThe US Department of Agriculture (USDA) has projected a significant increase in India's sugar production, estimating a rise of over 25% to 35.3 million tonnes for the 2025-26 marketing year, up from 28 million tonnes the previous year. This rebound is attributed to favourable weather conditions and an expanded cultivation area. Alongside India, Brazil is also expected to see a boost in sugar output, reaching a record 44.7 million tonnes, while Thailand anticipates a 2% increase to 10.3 million tonnes. However, the USDA forecasts a decline in sugar production in the European Union and the US, with EU output expected to drop by 9% to 15 million tonnes due to reduced sugar beet acreage. Overall, global sugar production is projected to rise to 189.3 million tonnes, while consumption is set to increase to 177.92 million tonnes, despite lower exports from the EU and Thailand.
Published: May 23 2025, 12 pm
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