eznews.inThe Employees’ Provident Fund Organisation (EPFO) reported a net addition of 14.58 lakh members in March 2025, reflecting a year-on-year increase of 1.15%. The Ministry of Labour & Employment noted that approximately 7.54 lakh new subscribers were enrolled during the month, marking a 2.03% rise from February 2025 and a 0.98% increase compared to March 2024. Notably, the 18-25 age group accounted for 58.94% of new subscribers, with 4.45 lakh individuals joining. The growth in EPFO membership is attributed to expanding employment opportunities, heightened awareness of employee benefits, and effective outreach initiatives. Additionally, around 13.23 lakh former members re-joined the EPFO, representing a 0.39% increase from the previous month and a 12.17% rise year-on-year, as many opted to transfer their funds rather than settle, thereby enhancing their long-term financial security. 
Published: May 21 2025, 6 pmeznews.inNegotiations for an early harvest trade agreement between India and the European Union (EU) are advancing, with both parties aiming to conclude talks by July. This interim pact is expected to facilitate a comprehensive Free Trade Agreement, addressing key issues such as intellectual property rights, government procurement, and tariff barriers. India is seeking greater market access for its exports, including ready-made garments and pharmaceuticals, while the EU is pushing for duty reductions in sectors like automobiles, medical devices, and poultry. The discussions follow a recent eleventh round of negotiations in New Delhi and are part of a broader effort to resume trade talks that had stalled since 2013. With bilateral trade in goods reaching USD 137.41 billion in 2023-24, the EU remains India's largest trading partner, accounting for 17% of its total exports.
Published: May 21 2025, 6 pmeznews.inIn Rajasthan, nine Farmer Producer Organizations (FPOs), primarily from Hanumangarh district, have successfully procured over 40,000 tonnes of wheat, exceeding their target by approximately 70%. This achievement, which has generated over ₹100 crore in sales, is seen as a potential model for the government to promote FPOs as a viable alternative for crop procurement, reducing reliance on private sector agents. The National Cooperative Consumers' Federation (NCCF) has engaged these FPOs to help meet the government's procurement goal of 20 lakh tonnes this season. However, challenges remain, including payment delays for farmers, which have prompted calls for reforms to enable FPOs to participate more effectively in procurement processes. Experts advocate for a whole-of-government approach to integrate FPOs into the procurement framework, suggesting that this model could be replicated in other states to enhance agricultural efficiency and support local farmers.
Published: May 21 2025, 6 pmeznews.inThe global rice market remains under pressure, with prices largely stagnant over the past month, as demand weakens in Africa and South-East Asia. Traders are exercising caution, particularly in Benin, which has significant inventory after large purchases earlier this year. Concerns about a price recovery are prevalent, with industry experts noting that current oversupply and diminishing demand are likely to keep prices low. In the Philippines, political uncertainties surrounding mid-term elections have left buyers hesitant, despite government promises of affordable rice. India, which recently lifted export curbs, is facing competition from Pakistan but maintains an edge due to quality. Global rice production is projected to rise in the 2024-25 season, potentially exacerbating the oversupply situation. Analysts suggest that while prices may stabilize later in the year, currency fluctuations and market dynamics could introduce volatility.
Published: May 21 2025, 4 pmeznews.inIndiGo, India's largest airline, reported a record fourth-quarter profit after tax of Rs 3,067.5 crore for FY25, a 62% increase from Rs 1,894.8 crore in the same period last year, driven by robust air travel demand. The airline carried 118 million passengers during the fiscal year and saw a 21% rise in capacity to 42.1 billion ASKs, with passenger numbers up 19.6% to 31.9 million in the March quarter. Total income surged to Rs 23,097.5 crore, up from Rs 18,505.1 crore a year earlier. IndiGo's CEO, Pieter Elbers, announced plans for further capacity growth in FY26, expecting a mid-teens increase in ASKs for the first quarter. The airline's cash balance stood at Rs 481,705 million, and it operates over 2,200 daily flights with a fleet of more than 400 aircraft. Shares closed at Rs 5,448 on the BSE.
Published: May 21 2025, 5 pmeznews.inCommerce Minister Piyush Goyal met with senior US officials in Washington to advance trade negotiations, particularly seeking concessions for India's labour-intensive sectors, including textiles, leather, and gems. An interim trade agreement may be announced before July 8, as India aims for full exemption from a recently imposed 26% reciprocal tariff on its goods, which has been suspended until July 9. The US has maintained a 10% baseline tariff, and India is negotiating to protect sensitive sectors like agriculture and dairy through quotas or minimum import prices. Both nations are targeting a bilateral trade agreement to more than double trade to $500 billion by 2030, with discussions continuing until May 22. The US has expressed concerns over non-tariff barriers affecting its goods in India, while India is open to importing non-GM agricultural products. In 2024-25, the US remained India's largest trading partner, with a trade surplus of $41.18 billion.
Published: May 21 2025, 5 pmeznews.inThe Spices Board has unveiled the "Sustainability in Spice Sector through Progressive, Innovative and Collaborative Interventions for Export Development (SPICED)" scheme for the 2025-26 financial year, aimed at bolstering the Indian spices sector. This initiative will provide financial assistance to farmers and Farmer Producer Organizations (FPOs) for activities including replanting, micro-irrigation, and enhancing post-harvest infrastructure. Online applications will open on May 26, with spice exporters eligible to apply for export development components until June 30, while farmers and FPOs can submit applications for other development categories until September 30. The scheme focuses on improving cardamom productivity, promoting organic farming, and ensuring compliance with global food safety standards. Additionally, it supports participation in international trade fairs and market linkage programs, particularly for first-time exporters and small businesses, to enhance the global presence of Indian spices.
Published: May 21 2025, 4 pmeznews.inOn International Tea Day, Assam Chief Minister Himanta Biswa Sarma announced an increase in daily wages for workers in state-run tea gardens from ₹220 to ₹250, effective October 1, 2025. This decision aims to align wages with those in private gardens, particularly in the Brahmaputra Valley, where workers have been earning ₹250 since October 2023. Sarma emphasized the importance of the tea industry to Assam's culture and economy, stating that the government has implemented various welfare initiatives over the past four years to support the tea community. These include a one-time aid of ₹5,000 for over 7 lakh workers, the establishment of model schools, mobile health units, and maternity benefits. The announcement reflects the government's commitment to enhancing the livelihoods of tea garden workers, who have played a vital role in Assam's heritage for the past 200 years.
Published: May 21 2025, 4 pmeznews.inCoconut and copra availability has plummeted by 30-35%, prompting coconut oil manufacturers to consider seeking government permission for imports to alleviate the crisis. Thalath Mahmood, president of the Cochin Oil Merchants Association, highlighted the industry's struggle due to this acute supply shortfall, which has driven retail coconut oil prices to ₹350 per litre, with projections of reaching ₹400 soon. Copra prices have also surged, hitting ₹188 per kg in Tamil Nadu and ₹186 in Kerala. Contributing factors include climate change affecting production, rising demand for coconut-based products, and increased consumption of edible oils in India, which has tripled since 2001. Additionally, reports indicate that China is purchasing large quantities of coconuts from Indonesia, further straining supply. With the current crop season expected to end soon, the situation may worsen, exacerbating the price crisis in the coconut oil sector.
Published: May 21 2025, 4 pmeznews.inIndia's domestic air travel experienced a significant surge in April 2025, with airlines carrying 143.6 lakh passengers, marking an 8.45% increase compared to the same month last year. Cumulatively, from January to April, the total number of passengers reached 575.13 lakh, reflecting a 9.87% annual growth. IndiGo maintained its dominance in the market, capturing a substantial 64.1% share, followed by the Air India Group at 27.2%, Akasa Air at 5%, and SpiceJet at 2.6%. The Directorate General of Civil Aviation (DGCA) reported that IndiGo's on-time performance (OTP) was 80.8%, outperforming Akasa Air and Air India Group, which recorded OTPs of 77.5% and 72.4%, respectively. SpiceJet lagged behind with the lowest OTP at 60%. This growth in air traffic underscores the increasing demand for domestic travel in India.
Published: May 21 2025, 4 pm
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