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India's goods exports remained stagnant at $437.4 billion in FY2025, impacted by a global economic slowdown and reciprocal tariffs imposed by former US President Donald Trump. In response, the Commerce Department is expediting the Expenditure Finance Committee (EFC) clearance for a new export promotion mission, backed by an annual budget of ₹2,240 crore. This initiative aims to support exporters, particularly in the MSME sector, through schemes like interest equalisation and market promotion funds. The mission seeks a five-year term to ensure stability amid global uncertainties, with plans to reinstate the popular interest equalisation scheme, which was discontinued in December. Exporters are advocating for a 5% interest subvention, up from the previous 3%, to level the playing field. Additionally, the mission will address collateral challenges faced by MSMEs and will incorporate the Market Access Initiative to enhance export opportunities. 
Published: Apr 18 2025, 9 pmeznews.inP.K. Mishra, Principal Secretary to the Prime Minister, addressed the 9th Annual Convocation of the Indian Institute of Management in Sambalpur, highlighting India's growing global influence amid geopolitical tensions and economic challenges. He described the current global landscape as "interesting and challenging," marked by disruptions in supply chains and protectionist policies. Mishra emphasized India's strengths, including its young population, expanding infrastructure, and technological advancements, which contribute to its strategic partnerships and soft power. He articulated the vision of a $5 trillion economy, focusing on poverty alleviation, infrastructure development, and digital empowerment. Mishra also underscored India's commitment to climate goals, aiming for 500 GW of non-fossil fuel capacity by 2030, and the importance of innovation in clean technology. He encouraged graduates to embrace lifelong learning, entrepreneurial spirit, and ethical practices to drive growth and sustainability in the evolving economic landscape.
Published: Apr 19 2025, 4 pmeznews.inMumbai's Chhatrapati Shivaji Maharaj International Airport (CSMIA) will close both runways for six hours on May 8 for essential maintenance ahead of the monsoon season, the airport operator, Mumbai International Airport Ltd (MIAL), announced. The maintenance work, scheduled from 11 am to 5 pm, aims to ensure the safety and longevity of the airport's airside infrastructure by inspecting runway surfaces for wear and tear and implementing preventive measures against waterlogging. A Notice to Airmen (NOTAM) was issued six months in advance to inform airlines and stakeholders, allowing them to adjust flight schedules accordingly. This annual maintenance is deemed crucial for facilitating safe landings and take-offs during the upcoming monsoon period.
Published: Apr 19 2025, 4 pmeznews.inIn a strategic effort to reclaim market share from the road logistics sector, Indian Railways is developing a policy aimed at reducing freight rates for short-distance cargo hauls of 250-300 km. Currently, Railways accounts for only 29% of India's freight transport, significantly trailing behind road transport's 65%. The initiative targets key sectors such as coal, cement, and steel, with plans to expand to other industries based on initial responses. While rail transport is cheaper at ₹1.36 per tonne per km compared to road's ₹2.5, it struggles with last-mile connectivity, a challenge the Railways is addressing through upgraded infrastructure and dedicated tracks. Pilot projects in Gujarat and Maharashtra are already underway to facilitate smaller, time-sensitive consignments. With nearly 100,000 wagons expected soon, Railways aims to enhance its competitiveness and increase its freight share to 35% in the coming years, reshaping India's logistics landscape.
Published: Apr 19 2025, 4 pmeznews.inThe Gujarat government has announced a significant procurement initiative, set to begin on April 21, 2025, aimed at purchasing ₹2,669 crore worth of chickpeas (chana) and mustard from 4.65 lakh farmers across the state. The initiative will see the government acquire 3.36 lakh metric tonnes of chickpeas, valued at ₹1,902 crore, and 1.29 lakh metric tonnes of mustard, worth ₹767 crore, at the minimum support price (MSP). The MSP for the 2024-25 Rabi season is set at ₹5,650 per quintal for chickpeas and ₹5,950 per quintal for mustard. Currently, over 3.36 lakh chickpea farmers and 1.18 lakh mustard farmers have registered to sell their produce. Notably, chickpea cultivation has increased to 8.49 lakh hectares this season, while mustard sowing has declined to 2.58 lakh hectares, reflecting a 16% drop compared to the previous three-year average.
Published: Apr 19 2025, 3 pmeznews.inIn a keynote address at the 24th FIMMDA-PDAI Annual Conference in Bali, Reserve Bank of India (RBI) Governor Sanjay Malhotra highlighted the resilience of the Indian economy amid global uncertainties, while acknowledging that GDP growth remains below aspirations. He projected a real GDP growth of 6.5% for FY26, emphasizing the need for India to achieve an average growth of 7.8% over the next 22 years to reach high-income status by 2047. Malhotra also addressed concerns regarding the Government Securities (G-Sec) market, noting modest turnover ratios and a concentration of liquidity among a few securities. He urged for increased retail participation and transparency in forex pricing, particularly for smaller customers. Additionally, he pointed out the challenges in developing a term money market and the need for banks to enhance liquidity transmission. The RBI remains committed to monitoring economic conditions and adapting policies proactively.
Published: Apr 19 2025, 3 pmeznews.inIndia has made a significant advancement in agricultural exports by shipping 14 tonnes of pomegranates to the United States via sea for the first time, as announced by the commerce ministry on Saturday. This move marks a departure from the traditional air freight method, with the industry now opting for a more cost-effective and sustainable sea-freight option. The shipment, which consisted of 4,620 boxes of pomegranates, successfully reached the US East Coast last month. This development follows the US granting market access for Indian pomegranates during the 2023 season, highlighting a growing trend in agricultural trade between the two nations. The shift to sea transport not only reduces costs but also aligns with global sustainability efforts in food logistics.
Published: Apr 19 2025, 12 pmeznews.inIn a significant development for commuters in Chennai, the Southern Railway's Chennai Division launched its first air-conditioned suburban train service on Saturday, connecting Chennai Beach to Chengalpattu. This new AC EMU service is anticipated to attract a high number of passengers, particularly during peak hours and in the sweltering heat. Following the successful model established in Mumbai, the service aims to cater to office-goers and women travelers, offering modern amenities such as automatic doors, passenger information systems, and CCTV surveillance. The inaugural train departed Chennai Beach at 7 am, with services running in both directions, except on Sundays. The fare for the journey between Chennai Beach and Chengalpattu is set at ₹105, marking a welcome addition to the city's public transport options.
Published: Apr 19 2025, 12 pmeznews.inIndia's E5-D programme aims to enhance sustainability in diesel usage by initiating a nationwide 5% ethanol-diesel blending initiative, particularly leveraging the existing infrastructure of the struggling sugar sector. With over 500 sugar mills capable of ethanol production, the government seeks to alleviate financial distress caused by stagnant ethanol prices while promoting biofuel adoption and reducing reliance on costly fossil fuel imports. The programme will begin with pilot phases in Maharashtra and Uttar Pradesh, allowing for real-world testing of blending standards and fuel performance. This initiative aligns with India's broader energy goals, including a roadmap for 20% ethanol blending in petrol by 2025 and a commitment to net-zero emissions by 2070. By integrating ethanol into diesel, the government not only addresses a significant emission source but also supports rural economies and farmer welfare, positioning the sugar industry as a key player in India's transition to a bioenergy-based economy.
Published: Apr 19 2025, 10 ameznews.inAt the 15th BRICS Agriculture Ministers meeting in Brazil, Indian Agriculture Minister Shivraj Singh Chouhan emphasized the critical need to prioritize small and marginal farmers in global agricultural strategies. He warned that these farmers cannot tackle challenges such as climate change, price volatility, and resource scarcity without substantial policy support. Chouhan highlighted that agriculture is not just an economic activity but a vital source of livelihood and dignity for millions. He proposed cluster-based farming, farmer producer organizations, and cooperative models as effective means to empower small farmers and enhance their market access. The meeting also saw the launch of the "BRICS Land Restoration Partnership" to combat land degradation and soil fertility loss. In their Joint Declaration, BRICS nations pledged to create a fair and sustainable global agri-food system, focusing on food security and the empowerment of women and youth. Chouhan invited BRICS countries to engage in upcoming global events to foster innovation and collaboration.
Published: Apr 19 2025, 10 ameznews.inThe Indian agricultural sector, vital for food security and livelihoods, faces significant challenges, including climate change and market volatility. To address these issues, leveraging technological innovations is crucial, particularly through the Digital Public Infrastructure known as AgriStack. This framework aims to enhance agricultural data management, enabling better research, policymaking, and resource allocation. AgriStack fosters collaborative partnerships between public and private sectors, improving access to financial services for farmers, including credit and insurance products. By integrating advanced technologies like blockchain and AI, AgriStack can streamline financial processes and enhance transparency. However, successful implementation requires effective change management, including building trust with farmers and improving financial literacy. The anticipated impact of AgriStack is expected to be transformative, akin to the Aadhaar initiative, as it empowers the agricultural community and drives innovation in financial services tailored to their needs.
Published: Apr 19 2025, 9 am
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