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Container Corporation of India (Concor), a subsidiary of Indian Railways, has introduced two new container services linking Rachagunneri in Andhra Pradesh to Pantnagar in Uttarakhand, and Nagalapalle in Telangana to Gandhinagar in Gujarat. Additionally, it has revived services from Andhra Pradesh to Tughlakabad in New Delhi and from Tondiarpet in Chennai to Turbhe in Mumbai. G Gayatri, Area Head - III at Concor, noted that while there are currently no scheduled services, the company plans to operate around two trains per month to each location, transporting 80 to 90 containers per trip based on customer demand. The domestic containers will facilitate the movement of various cargo, including rice and glass, and can be utilized across different terminals without returning to their original destinations. This shift from road to rail is expected to offer customers a cost advantage of 3% to 7%, ultimately enhancing Concor's operational efficiency and reducing logistics costs. 
Published: Jun 20 2025, 12 pmeznews.inThe Central Railway's innovative eight-week campaign, Lucky Yatra Yojana, aimed at reducing ticketless travel on Mumbai's suburban network, has concluded without a noticeable increase in ticket sales. Running from March 20 to June 15, the initiative transformed valid tickets into lottery entries for cash prizes of ₹10,000 daily and ₹50,000 weekly. Despite the attractive rewards, only three passengers claimed their prizes, raising concerns about the campaign's visibility. Commuter associations criticized the lack of publicity, stating that many passengers were unaware of the initiative until it ended. "If we had known, we could have informed passengers," said Lata Argade, Chairman of the Suburban Railway Commuter Association. Central Railway officials acknowledged the disappointing response and are now considering whether to extend the programme in the future. The campaign, developed in partnership with FCB Communication Pvt Ltd, did, however, garner six Golds and a Grand Prix at Cannes Lions 2025.
Published: Jun 20 2025, 7 pmeznews.inManish Thaplyal, Divisional Railway Manager of Southern Railway's Thiruvananthapuram division, announced plans to enhance railway infrastructure to accommodate more and faster trains, catering to the daily transport of 300,000 passengers. Speaking at a networking event hosted by the Cochin Chamber of Commerce and Industry, Thaplyal highlighted ongoing projects, including the doubling of railway lines, with completion expected by 2027. He noted significant redevelopment efforts at key stations, costing approximately ₹3,000 crore, in locations such as Ernakulam and Thiruvananthapuram. Additionally, discussions are underway to establish a new terminal in Ernakulam and a station near Cochin International Airport, aimed at improving connectivity. The Chamber's president, S.P. Kamath, presented further infrastructure requests, including a station at the airport and increased MEMU services to meet rising demand, alongside a proposal for a heritage railway yard to promote tourism and preserve historical assets.
Published: Jun 20 2025, 7 pmeznews.inThe Indian Commerce Department convened a meeting on Friday, led by Secretary Sunil Barthwal, to assess the implications of the ongoing Israel-Iran conflict on the nation’s trade and freight rates. Stakeholders from the shipping and air-cargo sectors were present, discussing the stability of the Strait of Hormuz, a vital route for global oil transport, which is currently being monitored for any disruptions. Concerns have arisen regarding potential Iranian actions that could block this critical passage, prompting Indian exporters to consider alternative routes, such as the longer journey around the Cape of Good Hope, which has significantly increased shipping times and costs. In response, Indian refiners are exploring energy supplies from West Africa to mitigate risks. Approximately 40% of India’s crude oil imports and 60% of its LNG imports transit through the Strait, underscoring the importance of the situation for the country’s energy security.
Published: Jun 20 2025, 7 pmeznews.inThe Income Tax Department of India has urged taxpayers to review their Income Tax Returns (ITRs) following a significant increase in foreign assets and income declarations. In 2024, Indian funds in Swiss banks surged to 3.5 billion Swiss francs (approximately ₹37,600 crore), with over ₹30,000 crore in foreign assets reported for the Assessment Year 2024-25. Despite this, only 11% of the total funds were in customer accounts, raising concerns about potential black money. Since 2018, Switzerland has shared financial data with India under the Automatic Exchange of Information framework, enabling the Central Board of Direct Taxes (CBDT) to identify discrepancies in taxpayer declarations. Consequently, 24,678 taxpayers reviewed their ITRs, leading to 5,483 belated returns that reported foreign assets worth ₹29,208 crore and additional foreign income of ₹1,089.88 crore. The department is considering action against those who fail to respond.
Published: Jun 20 2025, 7 pmeznews.inIndia's core sector growth, which encompasses eight key industries, has slowed to a nine-month low of 0.7% in May 2025, down from 1% in April, according to provisional government data. This sector, which includes coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity, accounts for 40.27% of the Index of Industrial Production (IIP). Notably, electricity generation fell by 5.8%, while both fertilizers and natural gas also experienced significant declines. However, steel and cement sectors showed resilience, with production rising by 6.7% and 9.2%, respectively. Rahul Agrawal, Senior Economist at ICRA Ltd, attributed the overall lackluster performance to excessive rainfall affecting electricity and mining sectors. He anticipates IIP growth to range between 1.5% and 2.5% for May, reflecting mixed sectoral performances amid challenging conditions.
Published: Jun 20 2025, 7 pmeznews.inSales of fertilizers in India have shown a notable increase, with urea sales rising 12.5% to 35.79 lakh tonnes (lt) in May compared to 31.81 lt a year earlier. Overall, the consumption of key fertilizers, including Urea, Di-ammonium Phosphate (DAP), Muriate of Potash (MOP), and Complex fertilizers, surged 14% in the first two months of the fiscal year, reaching 58.32 lt from 51.29 lt. However, DAP sales fell 10.7% to 7.89 lt, despite government claims of sufficient availability. The recent monsoon, covering over 90% of the country, has spurred fertilizer demand, particularly for DAP. Production of fertilizers has declined by 5.1% during April-May, with urea output down 13.4%. Fertilizer imports also dropped significantly, with overall imports falling to 15.92 lt from 22.18 lt last year. Rainfall data indicates a mixed pattern across regions, with some areas experiencing above-normal precipitation.
Published: Jun 20 2025, 6 pmeznews.inHeavy rainfall is expected to dominate the remainder of June, particularly across the West Coast, North-West, and East India, as the rain belt shifts northward, according to the European Centre for Medium-Range Weather Forecasts. The monsoon has resumed its advance, reaching parts of Bihar, East Uttar Pradesh, Madhya Pradesh, and Himachal Pradesh, with forecasts indicating further coverage in Rajasthan and Jammu and Kashmir in the coming days. While rainfall activity is set to taper in South and Central India, above-normal precipitation is anticipated in East and North-East India until July 10. A low-pressure area over south Bihar is expected to weaken, while predictions suggest a new low may form over the Odisha-West Bengal coast soon. Recent heavy rains have reduced the national rain deficit to 5%, although the South Peninsula remains at a deficit of 3%.
Published: Jun 20 2025, 6 pmeznews.inEdible oil prices have surged by $40–50 a tonne in just one week, driven by geopolitical tensions, particularly the escalating conflict between Iran and Israel, which has raised concerns over regional stability and global supply chains. The Solvent Extractors’ Association of India (SEA) highlighted that despite the Indian government's recent reduction in import duties to stabilize prices, external factors continue to introduce significant volatility. Heavy congestion at Kandla port, a key hub for edible oil imports, is exacerbating supply chain issues, with vessels facing delays of up to 20 days, potentially leading to local shortages and increased costs for consumers. SEA has urged authorities to expedite the discharge of vessels and has welcomed the government's increase in minimum support prices for oilseeds. Additionally, SEA is advocating for the Food Safety and Standards Authority of India to reconsider its advisory on product labeling, emphasizing the need to protect domestic farmers amid increasing agricultural exports from the US.
Published: Jun 20 2025, 6 pmeznews.inA report by the PHD Chamber of Commerce and Industry (PHDCCI) forecasts that India's demand for petroleum products will grow at a compound annual growth rate (CAGR) of 5.37% from 2025 to 2030, primarily driven by the manufacturing and transportation sectors. Key products such as diesel, petrol, Aviation Turbine Fuel (ATF), and petroleum coke are expected to lead this increase. India's economy is projected to expand by over 6% annually, with primary energy demand rising at a CAGR of 5.4%. Natural gas consumption is also set to surge, with a nearly 60% increase anticipated by 2030. However, India remains vulnerable, importing over 85% of its crude oil and facing geopolitical risks that threaten supply. Brent crude prices are expected to decline from $81 per barrel in 2024 to $66 by 2026, while domestic crude production may peak at 48.5 million metric tonnes before declining. In contrast, natural gas production is projected to rise significantly, supporting the government's cleaner energy goals.
Published: Jun 20 2025, 6 pmeznews.inThe ongoing Israel-Iran conflict is impacting the Kochi tea auction market, with Iranian buyers significantly reducing their procurement, leading to a decline in prices for orthodox tea varieties. Traders have noted that concerns over a potential payment crisis amid the conflict are causing buyers to hesitate, resulting in a price drop of ₹6-7 per kg for quality teas in sale 25. Iran, a key market for orthodox teas, typically imports 30-35 million kg annually, primarily from North India. As the war escalates, further declines in orthodox tea prices are anticipated. In contrast, the CTC dust market showed resilience, with good-quality teas seeing price increases of ₹1 to ₹2, and an overall sales percentage of 83% for the offered quantity. Despite some irregularities in medium and plainer teas, demand for CTC leaf remained fair, with exporters and upcountry buyers contributing to sales.
Published: Jun 20 2025, 5 pm
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