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The potential of green hydrogen in sectors like transport and steel is significant, yet its development is hindered by high costs, according to a report by SBI CAPS. The report highlights that while green hydrogen could see an incremental demand of 2-5 million tonnes by 2030, current production costs remain a barrier, with green hydrogen priced at approximately ₹300 per kg compared to ₹150 for grey hydrogen. The Indian government’s National Green Hydrogen Mission, launched in 2023, aims to produce 5 million tonnes annually by 2030, supported by a budget of ₹19,744 crore and the Strategic Interventions for Green Hydrogen Transition (SIGHT) programme, which seeks to reduce costs. However, achieving viability requires significant reductions in power costs and enhanced efficiency in electrolyser technology. With India's hydrogen demand primarily met by grey hydrogen, the mission also aims to reduce reliance on imported natural gas, as traditional sectors face limited growth. 
Published: May 09 2025, 2 pmeznews.inIn a significant escalation of drone warfare, Pakistan reportedly launched between 300 to 400 drones towards India on May 8, which India successfully intercepted using various defensive measures. This incident underscores the growing reliance on Unmanned Aerial Vehicles (UAVs) in modern conflicts, prompting India to enhance its drone capabilities. Companies like ideaForge and Zuppa Geo Navigation Technologies are actively engaging with the government to develop advanced UAV systems, including those for electronic warfare and surveillance. The Indian defence sector has seen increased procurement of cutting-edge drone technology, spurred by initiatives like iDEX, with over 100 start-ups now catering to military needs. Experts warn that the conflict's trajectory may mirror the Russia-Ukraine war, necessitating rapid advancements in drone technology. The Drone Rules of 2021 have further catalyzed local R&D, solidifying drones as a preferred choice in global military strategies due to their cost-effectiveness and operational safety.
Published: May 09 2025, 8 pmeznews.inRamraj Cotton, a textile manufacturer based in Tiruppur, has inaugurated a new showroom at the Puratchi Thalaivar Dr MG. Ramachandran Central Railway Station, marking the start of a five-year licensed store. Located in the station's newly developed concourse, this initiative aims to enhance the commercial offerings at the station and aligns with Southern Railways' strategy to optimize retail spaces at key transit hubs. The addition of the Ramraj Cotton store is expected to enrich the station's retail ecosystem and support the local textile industry. Alongside Ramraj, the new concourse also features outlets from A2B and Madras Coffee House, further diversifying the station's commercial landscape. This development reflects a broader effort to improve accessibility and economic viability within railway stations, as highlighted in a recent release.
Published: May 09 2025, 9 pmeznews.inIndia's textile sector is poised for significant growth, with management consulting firm Primus Partners projecting exports could exceed $100 billion within five years, up from approximately $36.6 billion in FY25. The firm’s roadmap emphasizes diversifying export offerings, enhancing skilled manpower, and improving infrastructure to position India as a leading global textile manufacturer amid shifting trade dynamics. Key strategies include integrating Industry 4.0 technologies to reduce operational waste by 15%, establishing specialized training centers in Tier 2 and Tier 3 cities, and leveraging recent free trade agreements, particularly with the UK and the US. Kanishk Maheshwari, Co-Founder of Primus Partners, highlighted the importance of these recommendations in boosting India's competitiveness and attracting investments. The textile industry, a cornerstone of India's economy contributing 2.3% to GDP and 10.5% to total exports, stands ready to capitalize on these opportunities for sustained growth and global leadership.
Published: May 09 2025, 9 pmeznews.inIn response to escalating tensions between India and Pakistan, Finance Minister Nirmala Sitharaman has urged banks to remain vigilant and prepared for any potential crises. During a high-level meeting with bank and insurance executives, she emphasized the importance of ensuring the safety of employees, particularly in border areas, and maintaining uninterrupted banking services nationwide. Sitharaman directed banks to prioritize cash availability at ATMs and the seamless operation of digital banking services, while also mandating regular audits of cybersecurity systems to prevent breaches. She instructed banks to appoint senior officials responsible for reporting cyber incidents and operational matters in real-time. The meeting revealed that banks have enhanced their cybersecurity measures, including the implementation of anti-DDoS systems and mock drills for disaster recovery. Bank officials confirmed that their Security Operations Centres are fully operational and coordinating with national cybersecurity agencies to monitor threats effectively.
Published: May 09 2025, 8 pmeznews.inThe Indian government has announced a sufficient supply of quality seeds for the upcoming Kharif season, with 171.47 lakh quintals available against a demand of 158.18 lakh quintals. This surplus is expected to support the country in achieving its foodgrain production targets, particularly amid forecasts of an "above normal monsoon." While some states report lower seed availability, the Centre has committed to addressing these issues to ensure timely access for farmers. Notably, the Indian Council of Agricultural Research (ICAR) highlighted a surplus of 13.29 lakh quintals of certified seeds, although certain crops like groundnut and sesame face shortages in specific states. The government aims for a foodgrain production target of 168.88 million tonnes for Kharif 2025, reflecting a 1.5% increase from the previous year. The success of recent climate-resilient seed varieties has contributed to maintaining crop yields despite adverse weather conditions in recent years.
Published: May 09 2025, 8 pmeznews.inTravel companies have reported a significant slowdown in fresh bookings amid rising tensions along the India-Pakistan border, prompting many leisure travellers to adopt a cautious approach. Jyoti Mayal, former president of the Travel Agents Association of India, noted that the industry is increasingly limiting non-essential travel due to geopolitical instability and security concerns, highlighted by the suspension of major public events like IPL matches. Government authorities have ordered the suspension of commercial operations at 27 airports in North and West India until May 10, further discouraging travel as fears of being stranded in a conflict escalate. Airline executives have observed a softening demand, with no fare increases, while hotel cancellations are on the rise. In response, travel firms are prioritising customer support, offering rescheduling and full refunds, including convenience fees, to affected passengers, as they navigate these disruptions.
Published: May 09 2025, 7 pmeznews.inIndia has received a credit rating upgrade to ‘BBB’ with a ‘Stable’ outlook from Morningstar DBRS, as announced by the Finance Ministry on Friday. Previously rated ‘BBB-Low’, this upgrade reflects the agency's recognition of India's structural reforms, including infrastructure investments and digitalisation, alongside fiscal consolidation and sustained high growth amid macroeconomic stability. The agency highlighted that these reforms have facilitated fiscal improvements and supported a resilient banking system, with non-performing loans at a 13-year low of 2.5%. Despite global growth concerns, the IMF projects India’s GDP growth at 6.2% for the current fiscal year, while the Reserve Bank of India is slightly more optimistic at 6.5%. The agency noted that India's favorable demographics and ongoing government efforts to enhance the investment climate bolster its medium-term growth prospects, despite potential external risks such as trade tensions and geopolitical uncertainties.
Published: May 09 2025, 7 pmeznews.inThe Central Consumer Protection Authority (CCPA) has issued thirteen notices to major e-commerce platforms, including Amazon and Flipkart, for the unauthorized sale of walkie-talkies lacking essential disclosures. These devices were found to be listed without necessary frequency disclosures, licensing information, or Equipment Type Approval (ETA), violating the Consumer Protection Act, 2019. The CCPA highlighted that many listings failed to clarify whether a wireless operating license was required, breaching the Indian Telegraph Act and the Wireless Telegraphy Act. A preliminary analysis revealed a significant number of non-compliant listings, with hundreds identified across various platforms. In response, the CCPA plans to introduce guidelines to enhance compliance, including seller verification and automated monitoring of listings. The authority has reached out to the Ministry of Home Affairs and the Department of Telecommunications for input on these measures, aiming to protect consumer interests and ensure adherence to legal standards.
Published: May 09 2025, 7 pmeznews.inUnion Minister Pralhad Joshi reassured consumers on Friday that India has sufficient food stocks, urging the public not to panic amid rising tensions with Pakistan. The Ministry of Consumer Affairs, Food and Public Distribution emphasized that current rice stocks stand at 356.42 lakh tonnes, significantly above the buffer norm of 135 lakh tonnes, while wheat stocks are at 383.32 lakh tonnes, exceeding the 276 lakh tonnes requirement. Joshi warned against hoarding, stating that individuals engaging in stockpiling would face prosecution under the Essential Commodities Act. He urged traders and retailers to cooperate with law enforcement to maintain supply chain integrity. Additionally, the Ministry reported a robust sugar production outlook and ample edible oil availability, particularly mustard oil, during the peak production season. Joshi dismissed rumors about food shortages, encouraging citizens to disregard misleading information regarding the nation’s food security.
Published: May 09 2025, 7 pmeznews.inThe Supreme Court of India has dismissed an appeal by the Revenue Department regarding the classification of badam-flavoured milk, affirming a ruling by the Andhra Pradesh High Court that imposes a 5 per cent Goods and Services Tax (GST) on the product. The High Court determined that flavoured milk falls under the category of 'milk' as per Entry 0402 9990, contrasting with the Revenue Department's view that it should be classified as a beverage subject to a higher 12 per cent GST. This decision aligns with a previous ruling from the Madras High Court. Experts suggest that the GST Council may now consider revising the tax rate for flavoured milk to reflect this classification. The ruling clarifies that products like badam-flavoured milk, despite their added ingredients, should be treated as milk, potentially prompting a reassessment of the current tax structure.
Published: May 09 2025, 7 pm
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