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Australia has lifted its ban on unpeeled prawn imports from India, providing a much-needed opportunity for Indian prawn farmers facing significant losses due to high tariffs imposed by the United States. While the volumes of prawns imported by Australia are relatively low—38,000 tonnes in 2022—the move is seen as a strategic step for the Indian shrimp industry to diversify its export markets. Indian exporters will now compete with countries like Vietnam, Thailand, Indonesia, and China for this market. However, all shipments must undergo rigorous testing for white spot and yellow head diseases before and after arriving in Australia. Nara Lokesh, Andhra Pradesh's Minister for IT and Human Resources, announced the first import approval during his visit to Australia, emphasizing that this development will help reduce reliance on the US market and boost India's aquaculture exports. The ban had been in place since 2016 due to previous virus detections. 
Published: Oct 22 2025, 12 pmeznews.inDomestic steel prices in India have plummeted to a five-year low, trading between ₹47,000-48,000 per tonne, primarily due to surging imports and weak export demand, according to market data from BigMint. Hot rolled coil (HRC) prices are around ₹47,150 per tonne, while re-bar (TMT) is priced between ₹46,500-47,000 per tonne, levels not seen since 2020 during the pandemic. The decline is exacerbated by an oversupply in the global market and aggressive export strategies from countries like China. Despite government measures to curb imports, India has remained a net steel importer for six consecutive months, with September imports rising to 0.79 million tonnes. The Ministry of Steel has scheduled an "open house" on October 27 to address these issues, while the Reserve Bank of India has called for policy support to enhance domestic competitiveness. Mill margins are expected to face pressure due to high input costs and sluggish demand.
Published: Oct 24 2025, 10 ameznews.inSatellite imagery has revealed significant cloud formation off the southern Tamil Nadu coast, where a new low-pressure area has developed over the southeast Bay of Bengal. The India Meteorological Department (IMD) is monitoring this system, which is expected to intensify and move west-northwest by Saturday. Favorable environmental conditions, including warm sea-surface temperatures of 29-30°C along the projected path, are conducive to the system's development. Meanwhile, a depression in the Arabian Sea is shifting towards the West Coast, having absorbed remnants of a previous low-pressure system from Kerala. As of Friday, light to moderate rainfall has been reported in parts of Rayalaseema and Coastal Andhra Pradesh, with heavy rain anticipated in Tamil Nadu's Ghat areas. The IMD continues to keep a close watch on these evolving weather patterns.
Published: Oct 24 2025, 10 ameznews.inInternational demand for Indian goods and services has declined to its lowest level in seven months, primarily due to a slowdown in manufacturing exports, according to a recent survey. The HSBC flash India Composite Purchasing Managers’ Index (PMI) fell to 59.9 in October, down from 61.0 in September, and below the expected 61.2. Despite this dip, growth remains robust, with the index still above the 50-mark that indicates expansion. The manufacturing PMI improved to 58.4, while the services index dropped to 58.8, reflecting a slowdown in services growth. Additionally, steep tariffs imposed by the United States have contributed to a significant decline in exports, particularly in September. Although cost pressures eased due to a reduction in the goods and services tax, firms have not fully passed these savings to consumers, leading to increased selling prices. Business optimism for the year ahead has also waned amid rising competitive pressures and uncertain market conditions.
Published: Oct 24 2025, 10 ameznews.inThe International Monetary Fund (IMF) has highlighted the ongoing impact of US tariffs on the Asia-Pacific region, particularly following a significant 50% tariff imposed on India in August 2025. While the IMF projects India's economy to grow by 6.6% in the fiscal year 2025-26, slightly up from 6.5% in 2024, it notes that the effects of these tariffs will take time to fully assess. The IMF believes that recent Goods and Services Tax (GST) reforms, which include a shift to a two-slab structure and a new 40% rate on luxury goods, will outweigh the negative impacts of the tariffs. These changes are expected to lower prices in key sectors, boost disposable incomes, and support consumption, thereby mitigating short-term revenue losses. However, the IMF warns that rising protectionism could dampen demand for Asian exports and hinder growth, emphasizing the need for reforms to ensure sustainable economic resilience.
Published: Oct 24 2025, 9 ameznews.inThe black pepper market in North India is experiencing sluggish movement post-Deepawali, despite a gradual price increase of ₹1 per kg, with current rates at ₹693 for ungarbled and ₹713 for garbled pepper in the Kochi terminal market. Traders attribute the slow activity to consumers still in a holiday mood, although a revival is anticipated next week as masala manufacturers increase procurement to meet production needs. Enthusiasm in the market is also fueled by hopes of reduced US tariffs, which could boost exports. However, the presence of Brazilian pepper, available at ₹750 per kg, poses a challenge for Indian producers, particularly from Tamil Nadu, Wayanad, and Coorg, as Brazilian prices are significantly lower. Additionally, the Agriculture Department has revised India's pepper production forecast for the 2026 crop year down to 85,000 tonnes, raising concerns among farmers about potential wind damage from the North-East monsoon.
Published: Oct 24 2025, 8 ameznews.inUS President Donald Trump, during a meeting with NATO Secretary General Mark Rutte at the White House on October 22, 2025, announced plans to discuss China's purchases of Russian oil with President Xi Jinping next week in South Korea. This comes as Trump imposed new sanctions on major Russian energy firms, including Rosneft and Lukoil, and claimed that India would reduce its oil imports from Russia to "almost nothing" by year-end. While the Indian government has not officially responded to the sanctions, sources indicate they are evaluating their implications. Trump emphasized that India's oil purchases, which have surged to nearly 40% of its total imports since Russia's invasion of Ukraine, would be impacted by the sanctions. However, India's Ministry of External Affairs previously stated that its energy sourcing decisions are driven by domestic priorities, particularly the needs of Indian consumers in a fluctuating global market.
Published: Oct 23 2025, 9 pmeznews.inSouthwest Airlines has announced plans to establish a global innovation centre in Hyderabad, following a meeting between Telangana Chief Minister A. Revanth Reddy and the airline's senior management team, including Chief Information Officer Lauren Woods and Chief Technology Officer Tom Merritt. The decision to set up the centre is seen as a significant step in supporting the airline's evolving business strategy. Reddy expressed his enthusiasm for the development, highlighting the Telangana government's ambition to achieve a $1 trillion economy by 2034 and a $3 trillion economy by 2047, as part of the state's "Telangana Rising 2047" vision. The announcement underscores Hyderabad's growing reputation as a hub for innovation and technology in India.
Published: Oct 23 2025, 9 pmeznews.inA 15-member delegation from the International Association of Ports and Harbours (IAPH) visited Chennai Port on October 22-23 for a collaborative knowledge-sharing engagement. Led by Secretary General Masahiko Furuichi, the delegation included senior officials from major Japanese ports and maritime organizations, such as Yokohama and Tokyo. A technical workshop on October 23 featured discussions on public-private partnerships, hinterland connectivity, decarbonisation, and environmental sustainability, attended by senior officers from Chennai Port Authority and Kamarajar Port Limited. Sunil Paliwal, Chairperson of Chennai Port Authority, emphasized the long-term India-Japan initiatives and the ports' commitment to sustainable development under the Maritime Amrit Kaal Vision 2047. JP Irene Cynthia, Managing Director of Kamarajar Port Limited, highlighted ongoing projects in LNG bunkering and green initiatives, underscoring the ports' dedication to enhancing capacity and sustainable operations.
Published: Oct 23 2025, 10 pmeznews.inDuring the Indian Navy's biannual Commanders' Conference 2025 in New Delhi, Defence Minister Rajnath Singh commended the Navy's crucial role in ensuring maritime security in the Indian Ocean Region (IOR), which has become a focal point of global geopolitics. He highlighted the Navy's facilitation of safe passage for around 335 merchant vessels, carrying 1.2 million metric tonnes of cargo valued at $5.6 billion. Singh emphasized India's growing credibility as a trusted global maritime partner, attributing this to the Navy's commitment to indigenisation under the Aatmanirbhar Bharat initiative, with 67% of capital acquisition contracts awarded to Indian industries. He noted that the Navy's innovation projects are enhancing self-reliance and contributing to job creation, exemplified by the Project 17A frigates. Admiral Dinesh K Tripathi, Chief of Naval Staff, praised the Navy's operational excellence, particularly highlighting the success of Operation Sindoor.
Published: Oct 23 2025, 7 pmeznews.inIndia's major reservoirs are currently at over 90% capacity, with data from the Central Water Commission (CWC) indicating that one in three dams are brimming. As of this week, the overall storage across 161 reservoirs stands at 90.74% of their total capacity, surpassing last year's levels by over four percentage points and exceeding the 10-year average by 15 percentage points. While the country has experienced a 13% deficit in post-monsoon rainfall since October 1, South India has seen a surplus of 79%. Notably, 50 reservoirs are full, with Maharashtra, Karnataka, and Rajasthan reporting significant overflow. The western region boasts the highest storage levels at 97.23%, while the southern region is at 89.5%. As the rabi crop sowing season begins, the anticipated North-East monsoon rainfall is expected to further benefit agricultural activities across the southern, western, and central regions.
Published: Oct 23 2025, 8 pm
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