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India's diesel consumption saw a notable rebound in April 2025, with a 4% increase to 8.23 million tonnes, marking the highest volume recorded for the month and the second highest ever for any month. This surge follows a period of low growth, attributed to the onset of summer, which boosts demand for irrigation in rural areas and air-conditioning in urban settings. Despite a modest 2% growth in the fiscal year ending March 31, 2024, and no growth in the previous year, diesel remains crucial, accounting for approximately 38% of the country's petroleum consumption. Meanwhile, petrol consumption also rose by 4.6% to 3.435 million tonnes, while LPG experienced a 6.7% increase, driven by Ujjawala connections. However, growth in aviation fuel (ATF) slowed to 3.25%, down from double-digit increases seen in the previous year due to election-related demand. 
Published: May 04 2025, 12 pmeznews.inIndian companies are increasingly harnessing Generative AI (GenAI) tools to enhance creativity, optimize campaigns, and improve audience engagement, according to a recent Ernst & Young (EY) report. The report highlights that AI adoption could boost revenues by 10% and cut costs by 15% for media and entertainment firms. India, with its rich talent pool and evolving AI ecosystem, is positioned to lead this transformation in the global media landscape. AI is being utilized for hyper-targeted content recommendations on OTT platforms, dynamic ad insertions, and efficient localization processes, including automated dubbing and subtitling. The sector, which currently employs 2.8 million people and has created around 10 million indirect jobs, is also benefiting from government initiatives aimed at fostering the creator economy. EY emphasizes that India's diverse cultural landscape and cost advantages make it an attractive destination for foreign investment in media and entertainment.
Published: May 04 2025, 3 pmeznews.inIndia's foreign direct investment (FDI) policy is gaining recognition for its stability and predictability, attracting global investors to its expanding economy, according to Deloitte India. The report highlights that sectors such as pharmaceuticals, automotive, and tourism are not only significant FDI magnets but also crucial for employment, exports, and innovation, driving the country's next growth wave. With the allowance of 100% FDI under the automatic route in key areas like insurance and tourism, India is positioning itself as a transparent investment destination. The National Monetisation Pipeline and the development of industrial corridors across over 100 cities are creating investment-ready zones. FDI inflows surged by 27% to $40.67 billion during April-December 2024-25, compared to $32 billion in the same period the previous year. Additionally, trade agreements are enhancing India's role in global commerce, supporting its transition to a key player in the international market.
Published: May 04 2025, 3 pmeznews.inUnion Minister for Communications Jyotiraditya Scindia has highlighted the significant economic potential of India's northeastern states, which are currently growing at rates of 11-12%, during a meeting with Reliance Industries Chairman Mukesh Ambani and other industry leaders in Mumbai. Scindia, who also oversees the Ministry of Development of the North Eastern Region (MDoNER), emphasized the region's historical importance in Southeast Asian trade and its role as a launch pad for the Global South. Ahead of the Rising Northeast Investment Summit 2025, he discussed opportunities in sectors such as agro-based industries, textiles, and tourism. Scindia noted that the Indian government is investing heavily in infrastructure, with nearly 10% of the Gross Budget Support allocated to the northeast, aiming to transform it into an economic powerhouse. He asserted that the region's rich resources and growth trajectory are crucial for the nation's overall progress.
Published: May 04 2025, 2 pmeznews.inThe United States is poised to advocate for significant reforms in India's trade policies, as outlined in a proposed bilateral trade agreement, according to the Global Trade Research Initiative (GTRI). Key demands from the US include reductions in India's minimum price support programs for staple crops, the removal of restrictions on genetically modified imports, and lower tariffs in the agricultural sector. In dairy, US officials argue that India's GM-free feed certification effectively blocks American imports. Additionally, the US seeks to ease restrictions on foreign retail giants like Amazon and Walmart, which face challenges due to India's regulations aimed at protecting local retailers. India, however, views these policies as essential for safeguarding its domestic market and regulatory autonomy. The US also criticizes India's complex licensing requirements for remanufactured goods, which it deems costly and inefficient. As negotiations advance, Washington will continue to press for comprehensive reforms across various sectors.
Published: May 04 2025, 2 pmeznews.inAgriculture Minister Shivraj Singh Chouhan announced the launch of two genome-edited rice varieties, 'DRR Dhan 100 (Kamala)' and 'Pusa DST Rice 1', developed by the Indian Council of Agricultural Research (ICAR) to combat climate change and enhance rice yields by 20-30%. These varieties, which are set to be available to farmers soon, are designed for major rice-growing states and promise improved drought tolerance and nitrogen-use efficiency. DRR Dhan 100 matures 20 days earlier than its parent, allowing for earlier harvests and potential crop rotations, while cultivation across 5 million hectares could yield an additional 4.5 million tonnes of paddy. Chouhan emphasized the importance of advanced agricultural technologies for India's food security and called for further research in pulses and oilseeds to reduce import dependence. ICAR officials hailed the launch as a significant milestone in India's agricultural biotechnology landscape.
Published: May 04 2025, 2 pmeznews.inThe Agricultural and Processed Food Products Export Development Authority (APEDA) is developing strategies to enhance India's agricultural and processed food exports, as discussed in a recent inter-ministerial dialogue. Commerce Secretary Sunil Barthwal emphasized the government's commitment to reducing logistical barriers and improving market access for these products. He called for collaboration with academia and research institutions to drive innovation and sustainability in agricultural exports. Subrata Gupta, Secretary of the Ministry of Food Processing Industries, highlighted the necessity of infrastructure development and adherence to international standards to ensure sustainable growth. Key sectors identified for potential export growth include rice, animal products, horticulture, and value-added processed foods. Special Secretary Rajesh Agrawal stressed the importance of a coordinated approach among stakeholders to expand the reach of Indian agricultural products, with exports projected to exceed $50 billion in 2024-25.
Published: May 04 2025, 2 pmeznews.inKaran Adani, managing director of Adani Ports and Special Economic Zone (APSEZ), has outlined the company's ambitious plans to enhance its marine, logistics, and agri-logistics sectors. In a recent interview, he announced a ₹13,000 crore investment in the second phase of the Vizhinjam International Seaport, aiming to increase its cargo handling capacity from 1.2 million TEUs to nearly 5 million TEUs by 2028. This port, inaugurated by Prime Minister Narendra Modi, will be India's first dedicated transshipment hub, targeting the significant volume of cargo currently routed through foreign ports. Adani emphasized the need for competitive tariffs and operational efficiency to attract business. Additionally, APSEZ is exploring international acquisitions in Southeast Asia and East Africa, while also supporting the India-Middle East-Europe Economic Corridor to enhance trade connectivity. Despite global trade uncertainties, Adani remains optimistic about India's growth trajectory.
Published: May 04 2025, 1 pmeznews.inThe Institute of Chartered Accountants of India (ICAI) will evaluate the financial implications of the proposed 'One Nation One Election' (ONOE) reform, aiding a Parliamentary panel currently reviewing relevant bills. This initiative follows a report from a high-level committee led by former President Ram Nath Kovind, which recommended synchronizing Lok Sabha, Assembly, and local body elections. In December, the government introduced two bills in the Lok Sabha to establish a legal framework for these simultaneous elections. A 39-member Joint Parliamentary Committee, chaired by BJP member P P Chaudhary, is examining the draft bills based on Kovind's recommendations. ICAI President Charanjot Singh Nanda confirmed that the institute will submit its financial assessment to the Parliamentary panel. The Kovind report suggests that simultaneous elections could enhance governance, optimize resources, and boost voter participation, while a related research paper indicates potential economic benefits, including higher growth and lower inflation.
Published: May 04 2025, 1 pmeznews.inIndia's Chief Economic Advisor, Dr. V Anantha Nageswaran, expressed optimism about the nation's economic resilience during a recent event at Ashoka University, asserting that the economy remains robust despite global challenges. He noted that current economic indicators reflect positive progress and emphasized the importance of maintaining macroeconomic stability while pursuing innovation-driven, inclusive growth. Key focus areas include energy affordability, employment generation, education, and the rise of manufacturing. The International Monetary Fund (IMF) projects India to be the fastest-growing major economy, with growth rates of 6.2% in 2025 and 6.3% in 2026. Suman Bery, Vice Chairman of NITI Aayog, echoed this sentiment, highlighting India's goal of becoming a developed, high-income society by 2047 and the need for sustained growth through enhanced labor productivity and structural reforms. He suggested that global turmoil could present opportunities for India to accelerate its growth trajectory.
Published: May 04 2025, 11 am
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