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The global cotton market faces a bearish outlook for the 2024-25 season, with prices expected to remain below 73 US cents per pound due to anticipated increases in production and declining consumption. Analysts from BMI, a Fitch Solutions unit, predict a 6.3% rise in global cotton production, reaching 120.3 million bales, driven by higher yields in major producing countries like China, Brazil, and the US. The International Cotton Advisory Council (ICAC) highlights challenges for farmers amid climate variability and competition from man-made fibres, particularly from China. The USDA has adjusted its cotton production estimate upward by 500,000 bales, while also lowering the season-average farm price to 63 cents. Despite a recent recovery in prices due to strong export sales, cotton futures remain over 30 cents lower than last year, with speculators anticipating further declines. 
Published: Mar 19 2025, 9 ameznews.inIndiGo, India's leading low-cost airline, has announced plans to significantly expand its international operations, aiming to increase its international capacity share from 28% to 40% by fiscal year 2030. Currently serving 40 international destinations and holding a 19% share of India's international flight market, the airline has seen its capacity share grow from 14% in 2018. This strategic move comes as Indian carriers strive to meet rising demand for air travel amid aircraft supply constraints. Following the announcement, IndiGo's shares rose by 4.2%. The airline is also enhancing its fleet, with plans to lease a Boeing 787-9 Dreamliner for long-haul routes and introduce business class seating on its Airbus A321XLR and A350 aircraft. IndiGo aims to increase its total fleet to over 600 aircraft by 2030, up from approximately 437, as it seeks to capitalize on the growing demand for premium travel.
Published: Mar 19 2025, 3 pmeznews.inThe Kerala Steamer Agents Association has raised alarms over operational challenges at the newly inaugurated Vizhinjam Port, urging immediate government intervention as competition intensifies from the upgraded Hambantota Port in Sri Lanka. Hambantota International Ports Group is investing significantly in new quay and gantry cranes, enhancing its capacity to handle 1 million TEUs, which could lure shipping lines away from Vizhinjam. Currently, container operations at Vizhinjam are hampered by limited space and the absence of an Immigration Check Post (ICP), complicating transhipment volumes. Despite handling over 200 vessels since its December 2024 launch, the port's growth may stall without ICP status and improved infrastructure. While some industry leaders express confidence in Vizhinjam's potential, they acknowledge the need for better connectivity and customs facilities to support its development, especially as the Adani Group plans a ₹30,000 crore investment for further expansion.
Published: Mar 19 2025, 3 pmeznews.inTelangana's Finance Minister and Deputy Chief Minister Mallu Bhatti Vikramarka has criticized the current Central allocation formula, arguing that Southern States, including Telangana, deserve a larger share of tax devolution. In a recent budget presentation for 2025-26, he proposed that the allocation model should assign 50 per cent weightage to Gross State Domestic Product (GSDP) growth, moving away from the existing "Per Capita Income Distance" criterion. Vikramarka highlighted concerns over the declining share of tax devolution, noting that Telangana's allocation dropped from 2.437 per cent under the 14th Finance Commission to 2.102 per cent under the 15th. He called for a fairer distribution system that rewards states contributing to national economic growth and urged the Centre to increase the tax devolution component from 41 per cent to 50 per cent, while also seeking enhanced financial support for infrastructure and social welfare initiatives.
Published: Mar 19 2025, 2 pmeznews.inA new report from the World Meteorological Organization (WMO) reveals that 2024 is projected to be the first calendar year with global temperatures exceeding 1.5°C above pre-industrial levels, reaching an average of 1.55°C. This alarming milestone, attributed to rising greenhouse gas emissions and a transition from a cooling La Niña to a warming El Niño, underscores the urgent need for enhanced climate action. WMO Secretary-General Celeste Saulo emphasized that while this single year does not negate the Paris Agreement's long-term goals, it serves as a critical wake-up call regarding the escalating risks to lives and economies. UN Secretary-General António Guterres urged leaders to capitalize on the potential of renewable energy and develop new national climate plans. The report also highlights the increasing frequency of extreme weather events, rising sea levels, and the urgent need for improved early warning systems to bolster community resilience against climate impacts.
Published: Mar 19 2025, 11 ameznews.inSweden is strengthening its economic ties with India by inaugurating a new Business Sweden office in Mumbai, its third in the country, aimed at enhancing trade and investment relations. Foreign Minister Maria Malmer Stenergard opened the office on Monday, highlighting Sweden's growing focus on Asia. This development underscores India's importance as a strategic partner for Sweden, particularly as India pursues a free trade agreement with the European Union. Stenergard's visit included participation in the Raisina Dialogue and discussions with Union Minister Piyush Goyal on expanding cooperation. With nearly 300 Swedish companies operating in India and over 70 Indian firms investing in Sweden, the collaboration has created approximately 7,000 jobs. Trade Commissioner Sofia Högman emphasized the immense interest in India, stating that the new office will facilitate Swedish companies in exploring opportunities in sectors like healthcare and green transition while supporting Indian investments in Sweden.
Published: Mar 19 2025, 12 pmeznews.inIndia's coffee exports surged by over 40% to exceed $1.54 billion during the April-February period of the 2024-25 financial year, driven by record global prices amid supply shortages in major producing countries like Brazil and Vietnam. The value of shipments in February alone rose by 22% to $178.68 million compared to the previous year. In rupee terms, exports increased by 43.37% to ₹13,004.75 crore. Italy remains the top destination for Indian coffee, accounting for 19.01% of total exports, followed by Germany and Russia. Despite a sluggish overall export performance this calendar year, the value of shipments has risen due to high prices. Notably, shipments of Indian arabica coffee, a premium variety, have seen a significant increase of 64% in volume, reflecting strong demand from European buyers. India ranks as the seventh largest coffee producer and the fifth largest exporter globally.
Published: Mar 19 2025, 11 ameznews.inThe Competition Commission of India (CCI) has approved NHIT Southern Projects Private Limited's acquisition of concession rights for 11 road projects from the National Highways Authority of India (NHAI) under the Toll-Operate-Transfer (TOT) model. This deal grants NHIT Southern Projects, a subsidiary of the National Highway Infrastructure Trust (NHIT), operational control for a 20-year concession period over key road assets, including routes in Muzaffarnagar-Haridwar and Bareilly-Sitapur. As these assets are government-held and NHIT operates solely as a special purpose vehicle for toll management, the transaction posed no competitive concerns, allowing it to qualify for the Green Channel approval route. This acquisition is part of India's broader infrastructure monetization strategy, aimed at unlocking capital for new highway projects while enhancing road maintenance and toll collection efficiency, ultimately benefiting both investors and commuters.
Published: Mar 19 2025, 10 ameznews.inThe global automotive industry is experiencing a significant slowdown, particularly as China emerges as a dominant force, reshaping the competitive landscape. Traditional automakers, once leaders in the market, are losing ground to domestic Chinese brands, which now account for a substantial share of the global market. Sachin Tikekar, President of KPIT Technologies, emphasizes the growing importance of software in vehicle appeal and the need for global clients to adapt to this evolving market. With the overall automotive market projected to grow only 2-3% annually, companies are under pressure to optimize costs and reduce production timelines. The European Union has imposed tariffs on Chinese vehicles, while the U.S. has restricted their software, further complicating the landscape. Despite these challenges, KPIT remains optimistic about its growth prospects, focusing on cost reduction, software features, and potential partnerships to enhance its offerings in a rapidly changing environment.
Published: Mar 19 2025, 9 ameznews.inThe Telangana Budget Session is set to commence today, with Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka preparing to present the 2025-26 budget. The proposed budget size is expected to range between ₹3.1 lakh crore and ₹3.3 lakh crore, an increase from last year's ₹2.91 lakh crore. Key allocations are anticipated for projects such as the Musi riverfront development and a regional ring road. However, Vikramarka faces significant challenges, including a debt burden of ₹6.71 lakh crore and the need to mobilize ₹6,500 crore for salaries and another ₹6,500 crore for debt servicing. With a monthly income of ₹18,000-18,500 crore, the state is under fiscal strain, having recently taken a ₹4,000 crore loan to meet salary obligations. The budget aims to balance welfare spending while addressing these financial pressures, amidst a GSDP growth of 11.9%, outperforming the national average.
Published: Mar 19 2025, 7 am
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