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Container Corporation of India (Concor), a public sector undertaking, is targeting a 10% growth in export-import (EXIM) trade and a 20% increase in domestic business for FY25, with an overall guidance of approximately 13% growth. The company has partnered with 20 shipping lines to enhance its EXIM operations and is pursuing long-term logistics contracts with major Indian corporates, including Vedanta and Tata. Concor plans to introduce tank containers for bulk cement movement, having secured agreements with UltraTech and My Home, and aims to resolve initial procurement challenges by June. Additionally, Concor is set to commission four new terminals, expanding its network to 100, which will facilitate double-stack train operations and attract more domestic traffic. In Q4 FY25, Concor reported a total originating volume of 679,459 TEUs, reflecting an 8.25% year-on-year growth, with EXIM volumes increasing by 12%. 
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May 30 2025, 7 pmeznews.inTrade negotiations between the US and India have yet to yield an early agreement after a week of discussions in New Delhi, despite some progress towards a balanced trade deal. Key issues remain, particularly regarding US demands for tariff cuts on agricultural products, which India is reluctant to concede due to food security concerns. Both nations aim to finalize the first tranche of the Bilateral Trade Agreement (BTA) by Fall 2025, with a July 9 deadline looming to avoid a 26% tariff imposed by the US. India is prepared to lower tariffs on various US goods, including automobiles and chemicals, but seeks to protect sensitive sectors like agriculture and digital trade. The US, led by President Trump, is pushing for broader market access to reduce its $40 billion trade deficit with India, emphasizing the need for significant tariff reductions.
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Jun 10 2025, 10 pmeznews.inIndia's Defence Minister Rajnath Singh has hailed the country's transformation from a major defence importer to a "trusted global exporter," attributing this shift to Prime Minister Narendra Modi's leadership as the NDA government marks eleven years in power. Singh highlighted that defence exports surged to ₹23,622 crore in 2024-25 from ₹1,940 crore in 2014-15, driven by initiatives like 'Aatmanirbhar Bharat' and 'Make in India.' He pointed to significant achievements, including the indigenous aircraft carrier INS Vikrant and the multi-role combat helicopter LCH Prachand, as well as successful military operations utilizing homegrown weapon systems. Singh emphasized the record-high defence exports to over 100 countries and the establishment of defence corridors attracting substantial investments. Celebrating this progress, he noted the strengthening of India's borders and armed forces, marking a proud stride towards self-reliance and strategic global leadership.
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Jun 10 2025, 8 pmeznews.inIndia's steel imports have seen a significant decline following the imposition of a 12% safeguard duty on metal shipments, particularly from China and Vietnam. Internal data from the Ministry of Steel reveals that imports fell by 40% year-on-year in May to 0.43 million tonnes, down from 0.7 million tonnes in the same month last year, and nearly 20% from April's 0.52 million tonnes. Notably, non-alloyed steel imports dropped by 15% sequentially, while alloy and stainless steel imports decreased by 24%. Despite a rise in imports from South Korea, shipments from China plummeted by 27-30%. While exports increased slightly to 0.4 million tonnes in May, they remain 10% lower year-on-year. Domestic steel consumption rose by 7% to 25.1 million tonnes, yet steel prices have remained stable amid bearish market sentiments and the approaching monsoon season.
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Jun 10 2025, 9 pmeznews.inIndian Potash Ltd (IPL), a prominent fertiliser company, reported a record Profit Before Tax (PBT) of ₹1,776.38 crore for the fiscal year 2025, marking a significant 71% increase, with a turnover of ₹21,933.58 crore. In addition to its fertiliser operations, IPL is involved in sugar, ethanol, dairy, and cattle feed sectors. The company also declared a historic dividend of 200%, the highest in its history, as recommended by its Board. Chairman Pankaj Kumar Bansal attributed this success to the team's dedication and strategic initiatives aimed at enhancing shareholder value. Notably, cooperative fertiliser giant IFFCO holds the largest stake in IPL at nearly 34%, followed by the Gujarat State Co-operative Marketing Federation at 10.45%, along with various other cooperative entities. This announcement underscores IPL's robust performance and commitment to growth in diverse agricultural sectors.
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Jun 10 2025, 9 pmeznews.inSrinagar International Airport has been closed, along with several others, following missile strikes by Indian armed forces on terror targets in Pakistan, officials confirmed on May 7, 2025. The closure comes in the wake of a significant decline in travel demand after a deadly terror attack in Pahalgam on April 22, which claimed the lives of 26 tourists. The Federation of Indian Airlines (FIA), representing major carriers like Air India and IndiGo, has urged the Civil Aviation Ministry to waive user fees for a year to stimulate tourism in the region, which has seen a drastic drop in visitors. Currently, departing passengers are charged ₹1,050 as a user development fee and ₹200 for aviation security. The FIA emphasized the crucial role airlines play in promoting tourism in Kashmir, highlighting that hotels are now largely empty due to the ongoing security concerns.
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Jun 10 2025, 9 pmeznews.inThe Indian government's Oil Palm Mission is struggling to meet its ambitious target of expanding oil palm cultivation by 664,000 hectares by 2026, with only 200,000 hectares planted so far. Launched in August 2021, the National Mission on Edible Oil - Oil Palm (NMEO-OP) aims to boost crude palm oil production to 1.12 million tonnes by 2025-26, but progress has been uneven across states. Gujarat has lagged significantly, covering just 105 hectares of its 7,600-hectare target, while Andhra Pradesh has achieved nearly half of its 68,000-hectare goal. In the northeastern states, only 29 hectares have been added against a target of 179,000 hectares. Experts suggest that insufficient monitoring and a lack of private sector engagement have hindered progress, calling for a more competent leadership and active farmer involvement to ensure the mission's success. The NMEO-OP also provides financial assistance to farmers to support oil palm cultivation.
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Jun 10 2025, 7 pmeznews.inThe Ministry of Labour and Employment is set to launch a model social security scheme aimed at providing individual pensions to the 5.73 crore registered building and other construction workers (BOCWs) upon their retirement at 60. This initiative will be financed by an unutilised corpus exceeding ₹70,000 crore, accrued from a welfare cess levied on construction costs. While the Centre will offer a guiding framework, the implementation, including pension amounts and eligibility criteria, will be determined by individual States and Union Territories. The scheme also aims to extend social security benefits to gig workers and is expected to roll out by year-end. In cases of a worker's death before retirement, their accumulated funds will be disbursed to their family, ensuring no funds are retained by the government. The initiative addresses concerns over the inadequate utilisation of collected welfare funds, as highlighted by past audits.
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Jun 10 2025, 8 pmeznews.inIndia has exported 2.29 lakh tonnes of sugar in the last two months, bringing total shipments to 5.38 lakh tonnes since the government permitted 10 lakh tonnes of exports on January 20 for the current season, which ends on September 30. With 23,219 tonnes still in transit, the overall quantity is estimated to exceed 5.61 lakh tonnes. For the ongoing 2024-25 sugar season, physical dispatches from mills for export reached 5.17 lakh tonnes, including 4.10 lakh tonnes of white sugar. Major export destinations include Somalia, Sri Lanka, and Afghanistan. However, the All India Sugar Trade Association (AISTA) forecasts a decline in sugar production to 26.52 million tonnes, down 16.9% from the previous season, due to factors such as red rot disease and erratic weather affecting yields in key producing states like Uttar Pradesh and Maharashtra. Closing stocks are expected to drop to 4.5 million tonnes by September 30, 2025.
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Jun 10 2025, 8 pmeznews.inIn a significant meeting on Tuesday, the Financial Stability and Development Council (FSDC), chaired by Union Finance Minister Nirmala Sitharaman, convened at the Reserve Bank of India headquarters in Mumbai to address key financial issues. The council focused on strategies to reduce unclaimed assets across various sectors, including banks and insurance, urging regulators to expedite refunds to rightful owners through special district-level camps. Additionally, discussions highlighted the need for simplified and digitalised KYC processes, particularly for Non-Resident Indians, to enhance user experience in the financial sector. The FSDC also examined trends in financing flows to boost investment ratios and emphasized the importance of a robust cybersecurity framework in light of emerging risks. Established in 2010, the FSDC aims to maintain financial stability and improve inter-regulatory coordination, with members including heads of major financial regulators and key government officials.
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Jun 10 2025, 8 pmeznews.inCapital expenditure (capex) by major Indian companies is projected to double to $800-850 billion over the next five years, driven by growth opportunities in sectors like renewable energy and airlines, according to S&P Global Rates. This increase, expected to continue until 2030, marks a significant rise from the previous five-year period, with new energy investments accounting for 28% of total capex. While the corporate sector's lean balance sheets and favorable government policies support this growth, S&P warns of risks from volatile input costs, particularly in power, steel, and cement. Traditional sectors such as infrastructure and industrials are also set to see substantial increases in spending. Funding for these investments will largely come from internal cash flows, with banks poised to expand lending at an annual rate of 12-13%. The report highlights a cautious optimism about the Indian corporate landscape amid ongoing challenges in consumer demand.
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Jun 10 2025, 7 pm
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