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Chennai Port and its subsidiary, Kamarajar Port, achieved a significant milestone in the fiscal year 2024-25, surpassing a total cargo throughput of 100 million tonnes for the first time, with a combined handling of 103.37 million tonnes. Sunil Paliwal, Chairperson of the Chennai Port Authority and Kamarajar Port Ltd, announced at a press conference that the ports generated ₹2,200 crore in operational income, reflecting a year-over-year increase of 6.7%, exceeding the Union Shipping Minister's target of 6%. Chennai Port handled 54.96 million tonnes, while Kamarajar Port managed 48.41 million tonnes. Paliwal projected a 7% growth in cargo volume for the current fiscal year. Additionally, he highlighted the ongoing development of a ₹1,424 crore multimodal logistics park in Mappedu, expected to be completed by February 2026, aimed at enhancing regional logistics capabilities. The Chennai Port's internal road network will also undergo improvements from 2025 to 2028, with an investment of ₹54 crore. 
Published: Apr 03 2025, 4 pmeznews.inIn a bid to bolster Uttar Pradesh's economy, Chief Minister Yogi Adityanath has set an ambitious target of achieving a one trillion dollar economy, with Deoria aiming to contribute an additional ₹10,000 crore over the next decade. Known for its fertile land and agricultural output, including sugarcane, wheat, and rice, Deoria is strategically positioned along major rivers like the Ghaghara, Rapti, and Chhoti Gandak. To facilitate this growth, local MP Shashank Mani Tripathi has launched the "Amrit Prayas" initiative, a comprehensive 10-year strategy designed to enhance employment opportunities, increase per capita income, and improve the business environment for entrepreneurs. Developed over four months with input from over 2,000 stakeholders, including citizens and business leaders, the plan will be executed by the Deoria Development Alliance, aligning with the broader vision of a prosperous and developed Deoria Lok Sabha constituency.
Published: Apr 04 2025, 12 pmeznews.inIndia's infrastructure sector is facing significant challenges, with 43% of ongoing Union government projects—totaling 1,873 and each valued over ₹150 crore—experiencing delays. As of April 2024, 779 projects are behind schedule, resulting in cost overruns exceeding ₹5.01 lakh crore. A report by consulting firm Primus Partners highlights outdated Public-Private Partnership (PPP) concession agreements as a key factor in these delays, calling for urgent reforms to enhance project execution. The railway sector is particularly affected, with 127 delayed projects averaging a 52-month delay. The report recommends clearer regulatory guidelines, flexible financial models, balanced risk-sharing mechanisms, and adaptable agreements to accommodate technological and market changes. It emphasizes that a well-structured concession agreement should integrate market assessments and dynamic revenue models to mitigate risks and ensure long-term viability, ultimately shaping the future of infrastructure development in India.
Published: Apr 04 2025, 11 ameznews.inThe Purchasing Managers’ Index (PMI) for India's services sector fell to 58.5 in March from 59 in February, indicating a slight slowdown in activity and sales, according to S&P Global data released on Friday. This decline was attributed to a weaker expansion in international orders. In contrast, the manufacturing sector rebounded, reaching an eight-month high of 58.1, up from 56.3 in February. Pranjul Bhandari, Chief India Economist at HSBC, noted that while domestic and international demand remained robust, job creation and inflation pressures eased. The report highlighted a reduction in hiring activity, with employment growth at its slowest in nearly a year. Despite fierce competition limiting price increases, overall business activity and sales saw broad-based growth, particularly in Finance & Insurance. However, new international orders grew at their slowest pace in 15 months, posing challenges for future output prospects.
Published: Apr 04 2025, 11 ameznews.inIndian pharmaceutical stocks plummeted by 4.4% on Friday, erasing previous gains, following U.S. President Donald Trump's announcement of impending steep tariffs on the sector. Speaking aboard Air Force One, Trump indicated that these tariffs would be unprecedented and are currently under review. The Nifty 50 index reflected this downturn, falling approximately 1.2% by mid-morning, with all 20 pharma constituents trading in the red. Major companies like Sun Pharma, Dr Reddy’s, and Cipla were among the hardest hit, while Lupin, Aurobindo Pharma, and Ipca Laboratories saw declines of about 6.5%. Earlier this week, Trump had imposed a 10% tariff on most U.S. imports but had temporarily exempted pharmaceuticals, benefiting exporters from India, Japan, and Ireland. Analysts warned that if tariffs are enacted, manufacturers may have to pass costs onto consumers, complicating the landscape for Indian drugmakers already cautious about U.S. manufacturing challenges.
Published: Apr 04 2025, 11 ameznews.inPresident Donald Trump has expressed a willingness to negotiate tariff reductions if other nations can present "phenomenal" offers, despite some officials' resistance. Speaking aboard Air Force One, Trump defended his tariff strategy amid a stock market downturn, noting a decline in interest rates and his belief that economic instability would stabilize. He specifically mentioned potential tariff relief for China, contingent on Beijing's approval of the sale of TikTok's US operations, which faces a divestment deadline. Trump also revealed he had engaged in discussions with various parties, including automaker executives and Israeli Prime Minister Benjamin Netanyahu, who may visit the US next week. Israel recently lifted tariffs on US goods in hopes of avoiding Trump's tariffs, yet the White House announced a 17 percent rate on Israeli products. Meanwhile, the UK is subject to a minimum 10 percent tariff, while EU nations face a higher 20 percent rate.
Published: Apr 04 2025, 9 ameznews.inIn a significant market downturn, India's benchmark indices faced substantial losses, with the SENSEX closing at 75,575.31, down 720.05 points, while the NIFTY fell by 308.15 points to settle at 22,941.95. Additionally, crude oil prices dropped by ₹87 to ₹5,648.00, and silver saw a decline of ₹1,544, reaching ₹92,855.00. In a related financial update, the Finance Ministry announced that individuals who received their Permanent Account Number (PAN) based on Aadhaar applications submitted before October 1, 2024, must link their PAN with Aadhaar by December 31, 2025, to avoid penalties. After this date, late fees of ₹500 and ₹1,000 will apply for delayed linking. Failure to comply will render the PAN inoperative, affecting tax refunds and interest. This initiative is part of the government's broader strategy to enhance tax compliance and trust among taxpayers.
Published: Apr 04 2025, 10 ameznews.inUS President Donald Trump announced a significant new round of tariffs on global trading partners during a press event in the Rose Garden on April 2, 2025, marking his most aggressive move against what he perceives as an unfair global economic system. The initial rollout caused confusion among more than a dozen countries, as discrepancies emerged between the tariff rates presented and those listed in a White House annex. For instance, India's tariff was initially set at 27 percent but was later revised to 26 percent, while South Korea's rate fluctuated between 25 and 26 percent. Under Trump's executive order, all trading partners will start with a 10 percent tariff from April 5, with specific countries facing higher rates based on the annex. Notably, some overseas territories were omitted from the final tariff list, raising further questions about the implementation of the new policy.
Published: Apr 04 2025, 10 ameznews.inA new 27% tariff imposed by the US on the gems and jewellery industry is set to disrupt India's significant export market, which accounts for nearly one-third of the country's $32 billion gem and jewellery exports. Products such as cut and polished diamonds, previously duty-free, will now face substantial tariffs, with gold and platinum jewellery taxed at 32-34% and silver jewellery potentially reaching 40.5%. Experts, including Ramit Kapur of GSI India, warn that this hike will particularly impact major categories like studded gold jewellery, although high-value items may still attract discerning US buyers. Rajesh Rokde from the Gem and Jewellery Council of India emphasized the need for strategic foresight in navigating these trade dynamics. While domestic businesses may remain unaffected, the tariff could lead to inflation and slower growth in the US, prompting concerns that Indian exporters, especially small businesses, may lose market share to competitors not facing such duties.
Published: Apr 04 2025, 10 ameznews.inRipple Premium White Tea from Kanan Devan Hills Plantations Company (KDHP) in Munnar has been awarded the "best Indian Origin tea award" at the Global Tea Championship (GTC) in Las Vegas. KDHP, the largest tea plantation company in South India, highlighted that the GTC recognizes the highest-quality teas globally, celebrating excellence in various categories such as leaf appearance and overall quality. K. Mathew Abraham, Managing Director and CEO of KDHP, emphasized that this accolade reflects the company's commitment to producing world-class teas. Additionally, KDHP's white tea received a 'Highly Commended' award at The Leafies 2024 competition in the UK, marking the third instance of global recognition for Ripple Premium White Tea. This achievement underscores KDHP's expertise and dedication to quality in the competitive tea market.
Published: Apr 04 2025, 8 ameznews.inAshok Gulati, a prominent Indian agricultural economist and professor at the Indian Council for Research on International Economic Relations (ICRIER), has suggested that India may not suffer significant losses in agricultural exports despite new tariffs imposed by US President Donald Trump. He highlighted the importance of strategic negotiation during bilateral trade talks, asserting that India could potentially gain if it negotiates effectively. Currently, Indian agricultural exports face a 27% tariff, but the impact will vary across different products, depending on how these tariffs compare with those imposed on competing countries like Vietnam and Thailand. For instance, if Indian rice is taxed at 26% while competitors face higher tariffs, India could benefit. Gulati concluded that the outcome hinges on India's ability to secure a favourable bilateral trade agreement, which could transform the tariff challenge into an opportunity.
Published: Apr 04 2025, 8 am
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