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The Central Board of Indirect Taxes & Customs (CBIC) has introduced new guidelines to streamline the Goods and Services Tax (GST) registration process, aiming to balance the prevention of fraudulent registrations with the facilitation of genuine applicants. The updated instructions, which replace a previous directive from June 2023, establish a seven-day approval timeline for applications deemed low-risk and complete, while a 30-day period applies to higher-risk cases requiring Aadhaar authentication or physical verification. Applicants must provide specific documentation to prove ownership or rental of premises, including property tax receipts or lease agreements. The CBIC has also addressed concerns over unnecessary queries raised by officers, instructing them to refrain from asking irrelevant questions not directly related to the submitted documents. These measures are designed to enhance clarity and efficiency in the registration process, ensuring that legitimate businesses are not unduly hindered. 
Published: Apr 18 2025, 10 ameznews.inThe European Centre for Medium-Range Weather Forecasts has predicted moderate to heavy rainfall for the West Coast and parts of interior Maharashtra and Karnataka next week, with lighter rain expected across North-West and Central India. The forecast indicates that cross-equatorial winds are shifting to carry monsoon moisture, likely leading to the monsoon's advance into the South Andaman Sea by Tuesday. Wind speeds over the Bay of Bengal are expected to reach 36-54 km/hr, surpassing the typical threshold. A US forecaster anticipates widespread rain across India from this weekend into mid-June, particularly in Kerala, Tamil Nadu, and Rayalaseema. Meanwhile, pre-monsoon systems are reducing the national rainfall deficit to just -7%, with Central India and the South Peninsula reporting surpluses. No heat wave warnings are currently in effect, as weather disturbances are expected to bring beneficial rain and thunderstorms to deficit-affected regions.
Published: May 09 2025, 6 pmeznews.inJim Sutter, CEO of the US Soybean Export Council (USSEC), expressed cautious optimism regarding India's potential market access for US soybeans, advocating for minimal import duties. He highlighted that India could benefit from importing soybeans to produce oil and oilmeal, reducing its reliance on imported cooking oils. Sutter noted that the US administration supports "free, fair and open trading," and USSEC has been engaging with India since 1996, particularly targeting the poultry, dairy, and aquaculture sectors. With China’s soybean imports declining due to trade tensions, the US is keen to expand exports to South Asia. Sutter emphasized that India’s current edible oil imports could be supplemented by US soybeans, which would enhance local crushing capacity. The US soybean industry remains unconcerned about genetically modified (GM) crops, viewing sustainability as a priority, while ongoing discussions between US and Indian officials may shape future trade dynamics.
Published: May 09 2025, 6 pmeznews.inUS Vice President J D Vance has stated that the ongoing military tensions between India and Pakistan are not a concern for Washington, emphasizing that the conflict is "none of our business." While the US is advocating for immediate de-escalation, experts suggest that the Biden administration is wary of becoming entangled in another conflict, particularly after the limited success of previous interventions. Vance reiterated the US's desire for a swift resolution but acknowledged that it cannot control the situation. Secretary of State Marco Rubio has engaged with Indian External Affairs Minister S Jaishankar, stressing the importance of direct dialogue between the two nations. The tensions escalated following India's missile strikes targeting terrorist infrastructure in response to recent attacks that killed civilians. As the US navigates its relationships with both India and Pakistan, its strategic interests in the region remain complex, particularly in light of China's growing influence.
Published: May 09 2025, 6 pmeznews.inIndia has initiated a collaborative pilot study to explore untapped deep-sea resources within its exclusive economic zone (EEZ), focusing on mesopelagic species, which are abundant yet largely unexploited. The Central Marine Fisheries Research Institute (CMFRI) and the Central Institute of Fisheries Technology (CIFT) are leading the research, supported financially by the National Fisheries Development Board under the Pradhan Mantri Matsya Sampada Yojana. The project aims to assess the potential of these resources, which span depths of 200-1,000 meters, and develop sustainable harvesting methods to alleviate pressure on traditional fish stocks. Grinson George, Director of CMFRI, highlighted the importance of this initiative in addressing global overfishing concerns. With an estimated 2 million tonnes of mesopelagic resources in Indian waters, the study, led by Principal Scientist Sujitha Thomas and CIFT's Ramesan MP, is expected to provide vital insights for commercial exploitation while ensuring ecological sustainability.
Published: May 09 2025, 5 pmeznews.inThe Commission for Agricultural Costs and Prices (CACP) has urged Indian farmers to adopt pest and disease-resistant sugarcane varieties and integrated pest management (IPM) strategies to combat rising infestations, particularly red rot and top borer attacks that have affected yields. In its recommendations for the 2025-26 sugarcane price policy, the CACP highlighted the need for awareness campaigns to promote these practices and address the significant gap in quality seed cane availability, which impacts productivity and profitability. The government has raised the Fair and Remunerative Price (FRP) for sugarcane to ₹355 per quintal, while the CACP also called for the establishment of Custom Hiring Centers to facilitate access to machinery for farmers. Additionally, it recommended discontinuing the State Advised Price (SAP) system, which distorts markets and burdens sugar mills, advocating instead for a shift to the FRP or Revenue Sharing Formula to ensure fair compensation for farmers.
Published: May 09 2025, 3 pmeznews.inIn 2024, the United States solidified its position as India's largest trading partner, with bilateral trade reaching approximately $129 billion. In a bid to enhance trade relations, India has proposed reducing its tariff gap with the US from nearly 13% to below 4%, seeking an exemption from potential tariff hikes announced by President Trump. This significant reduction would lower the average tariff differential by 9 percentage points, marking a major shift in trade policy for the world's fifth-largest economy. India is also negotiating preferential access for nearly 90% of US imports, while requesting concessions in key sectors such as gems, textiles, and pharmaceuticals. Additionally, India aims to align its treatment in critical technology sectors with that of other US allies. A delegation of Indian officials is expected to visit the US soon to advance these negotiations, although details remain confidential.
Published: May 09 2025, 3 pmeznews.inIn the latest tea auctions in Kochi, Kerala, the orthodox leaf market experienced a notable surge in demand, particularly from Iraqi buyers, leading to an average price increase of ₹5 per kg, reaching ₹205. The auction saw 86% of the 301,204 kg offered sold, as traders noted that rising prices in Sri Lanka prompted Iraqi buyers to seek more affordable South Indian varieties. Additionally, upcountry buyers increased their purchases due to higher second flush prices in Assam, while exporters targeted markets in CIS countries and the Middle East. However, concerns linger over potential shipment delays due to escalating tensions along the Indo-Pak border. In contrast, the CTC leaf market remained stable, though the CTC dust market saw a decline of ₹2 to ₹4, with a sales percentage of 77% from 716,204 kg offered. The orthodox dust market, however, remained robust, achieving 100% sales from 8,300 kg.
Published: May 09 2025, 3 pmeznews.inThe potential of green hydrogen in sectors like transport and steel is significant, yet its development is hindered by high costs, according to a report by SBI CAPS. The report highlights that while green hydrogen could see an incremental demand of 2-5 million tonnes by 2030, current production costs remain a barrier, with green hydrogen priced at approximately ₹300 per kg compared to ₹150 for grey hydrogen. The Indian government’s National Green Hydrogen Mission, launched in 2023, aims to produce 5 million tonnes annually by 2030, supported by a budget of ₹19,744 crore and the Strategic Interventions for Green Hydrogen Transition (SIGHT) programme, which seeks to reduce costs. However, achieving viability requires significant reductions in power costs and enhanced efficiency in electrolyser technology. With India's hydrogen demand primarily met by grey hydrogen, the mission also aims to reduce reliance on imported natural gas, as traditional sectors face limited growth.
Published: May 09 2025, 2 pmeznews.inIndia Infrastructure Finance Company Limited (IIFCL) is intensifying its focus on green financing, with Managing Director P.R. Jaishankar highlighting a significant influx of private investment in the sector. IIFCL has achieved record financial performance for five consecutive years, attributed to a robust strategy emphasizing risk management and cost-effective resource allocation. The company has introduced innovative financial products and advocated for policy improvements to enhance infrastructure financing. Currently, non-banking financial institutions dominate infrastructure lending, holding over 50% market share, while Infrastructure Investment Trusts (InvITs) are facilitating project monetization and liquidity. Despite the government's increased capital expenditure, private sector response remains lukewarm, partly due to the absence of a green premium for bonds. Jaishankar noted that evolving regulations and rating methodologies are expected to attract more investors. While IIFCL is exploring growth opportunities, plans for an IPO remain unconfirmed.
Published: May 09 2025, 12 pmeznews.inIndia and Chile have taken a significant step towards enhancing their economic ties by signing terms of reference (ToRs) to negotiate a comprehensive economic partnership agreement (CEPA). This initiative builds on the existing preferential trade agreement (PTA) established in 2006, which was expanded in 2016. The CEPA aims to broaden the scope of cooperation to include sectors such as digital services, investment promotion, and micro, small, and medium enterprises (MSMEs). Both nations are keen to unlock the full potential of their trade relationship, which is expected to boost employment and facilitate investment. The ToRs were signed by Chile's Ambassador to India, Juan Angulo, and Vimal Anand, Joint Secretary in India's Ministry of Commerce. The first round of negotiations is scheduled for May 26-30, 2025, in New Delhi, marking a pivotal moment in bilateral relations.
Published: May 09 2025, 12 pm
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