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Farmer Producer Organisations (FPOs) face significant challenges in sustaining their business operations, primarily due to a lack of managerial skills, insufficient access to patient capital, and inadequate working capital. At a recent roundtable hosted by the Centre for Business Innovation at the Indian School of Business, industry experts, including Ram Kaundinya, emphasized the need for professional leadership within FPOs, advocating for the appointment of trained CEOs and the introduction of diploma courses to equip young leaders. They also called for improved access to credit, urging the government to mandate priority sector lending and allow FPOs to utilize warehouse receipts and collective collateral. Additionally, the establishment of mentorship programs and a shift in mindset to view FPOs as business entities were highlighted as crucial for success. The panel also discussed the importance of leveraging technology and data to enhance operational efficiency, while cautioning against the challenges posed by data overload. 
Published: Jun 12 2025, 9 ameznews.inBajaj Allianz Life Insurance has introduced streamlined documentation requirements to support families of policyholders affected by the recent Air India plane crash in Ahmedabad. In a bid to expedite the claims process, the insurer has set up a dedicated claims settlement desk to prioritise death and disability claims. To facilitate this, Bajaj Allianz will accept certificates from hospitals or municipal authorities in lieu of a death certificate, provided that nominees, legal heirs, or policyholders also submit their KYC and bank mandate. Claims can be reported through various channels, including the company's toll-free number, visits to any of its 596 branches nationwide, or via email at [email protected]. This initiative aims to ease the burden on grieving families during a challenging time.
Published: Jun 13 2025, 1 pmeznews.inGold prices surged past $3,400 an ounce amid escalating geopolitical tensions, particularly following Israel's airstrikes in Iran that resulted in the death of its security chief. On the Multi Commodity Exchange (MCX), gold futures reached ₹1,00,403 per 10 grams before settling at ₹99,841 by early afternoon on Friday, marking a significant increase from Thursday's close of ₹97,164. In the global market, gold was quoted at $3,416.07 an ounce, reflecting a 0.89% daily rise and over 30% growth since the start of the year. Analysts attribute the surge to investors seeking safe-haven assets amid economic uncertainties. Colin Shah, MD of Kama Jewelry, noted that while the rise to ₹1 lakh was anticipated, short-term resistance may keep prices below this threshold. Renisha Chainani from Augmont suggested that gold could target $3,500 in the near future, although volatility may lead to price corrections.
Published: Jun 13 2025, 1 pmeznews.inIn the wake of a tragic Air India Boeing 787 crash that claimed over 240 lives, US officials have stated there is currently no immediate safety data necessitating a halt to Boeing 787 flights. Transportation Secretary Sean Duffy and Acting FAA head Chris Rocheleau addressed the media, confirming that a team from the National Transportation Safety Board (NTSB) and FAA, supported by Boeing and GE Aerospace, will travel to India to investigate the incident. Duffy emphasized the importance of thorough on-ground assessments over preliminary video analyses, asserting that any safety recommendations arising from the investigation will be promptly implemented. Rocheleau added that the FAA is ready to deploy additional resources to ensure public safety as the investigation unfolds. The crash has raised significant concerns, but officials are committed to following the facts to prioritize aviation safety.
Published: Jun 13 2025, 1 pmeznews.inA tragic crash involving an Air India Boeing 787 Dreamliner, which resulted in the deaths of at least 241 people, is under investigation by aviation safety authorities. Preliminary analysis of video footage suggests the aircraft failed to achieve adequate thrust during its takeoff roll on an 11,000-foot runway, raising concerns about potential misconfigurations or incorrect weight data input into the flight computer. Experts, including aviation consultant Bob Mann, noted that the plane's landing gear remained extended, and there are questions about whether the flaps were correctly positioned for takeoff. Jeff Guzzetti, a former FAA accident investigation chief, emphasized the absence of smoke or structural failure, indicating the aircraft simply could not climb. Investigators from the US National Transportation Safety Board and FAA are set to assist Indian authorities, with crucial data expected from the recovery of the flight data and cockpit voice recorders.
Published: Jun 13 2025, 1 pmeznews.inDCM Shriram, a prominent player in the sugar and seeds sector, has announced its acquisition of Hindusthan Specialty Chemicals Ltd (HSCL) for ₹375 crore, a move approved by the company's Board. The acquisition, which is pending regulatory and customary approvals, will enhance DCM Shriram's chemicals growth strategy and facilitate its entry into advanced materials. Gujarat-based HSCL, which reported revenues exceeding ₹274 crore in FY25, specializes in manufacturing epoxy resins and materials for high-tech industries, including aerospace, electronics, and electric vehicles. Its production facility in Jhagadia, located just 3.5 km from DCM Shriram's existing chemicals complex, is expected to yield operational synergies. This acquisition aligns with DCM Shriram's earlier commitment to invest ₹1,000 crore in its Epoxy and Advanced Materials business, underscoring the company's strategic focus on expanding its capabilities in the chemicals sector.
Published: Jun 13 2025, 12 pmeznews.inIndia's vegetable oil imports for the 2023-24 oil year reached 16.23 million tonnes (mt), including 15.96 mt of edible oil, reflecting a 3% decrease from the previous year. With an estimated consumption of 26 mt, the country faces a growing demand projected to reach 28-30 mt by 2029-30. In response, the Indian government launched the National Mission on Edible Oil (Oilseeds) in October 2024, allocating ₹10,103 crore to boost oilseed production to 69.7 mt by 2030-31. However, challenges persist, including a decline in mustard production and a shift towards refined oils, which now dominate 93% of imports. Experts, including former Amul managing director BM Vyas, stress the need for dedicated leadership to achieve self-sufficiency in edible oil, contrasting current efforts with the successful 1986 Technology Mission on Oilseeds. Despite increased oilseed acreage and production, the gap between supply and demand continues to widen, necessitating ongoing imports.
Published: Jun 13 2025, 12 pmeznews.inIndia has expressed deep concern over escalating tensions between Israel and Iran, urging both nations to refrain from further provocations and to utilize existing diplomatic channels for de-escalation. The Ministry of External Affairs emphasized the importance of dialogue in resolving underlying issues following Israel's unprecedented strikes targeting Iran's nuclear program. In retaliation, Iran reportedly launched around 100 drones towards Israel, prompting the Israeli military to intercept them. The United States has cautioned Iran against retaliating against American interests, with Secretary of State Marco Rubio clarifying that the US was not involved in Israel's actions. India, maintaining close relations with both countries, is closely monitoring the situation and has advised its nationals in the region to exercise caution and adhere to local security guidelines. Indian missions in both nations are actively engaging with the Indian community to ensure their safety.
Published: Jun 13 2025, 12 pmeznews.inA tragic crash involving an Air India Dreamliner on Thursday resulted in the deaths of 241 people, with only one survivor, British national Vishwash Kumar Ramesh, aged 45. Ramesh was seated in '11A', a window seat located near an emergency exit, which may have contributed to his miraculous escape from the burning aircraft. The Boeing 787-8, operating the Ahmedabad-London AI171 flight, had a total of 242 individuals onboard, including 12 crew members. Among the deceased were 169 Indian nationals, 53 British nationals, 7 Portuguese nationals, and 1 Canadian national. Air India has confirmed the fatalities and announced plans to retrofit its fleet of 27 B787-8 planes, each configured with 238 economy and 18 business class seats. Union Home Minister Amit Shah expressed condolences and highlighted the survival of Ramesh as a glimmer of hope amid the tragedy.
Published: Jun 13 2025, 12 pmeznews.inIn response to escalating tensions following Israel's pre-emptive strike on Iranian nuclear facilities, Indian airlines have begun rerouting several flights to avoid Iranian airspace. Iran's closure of its airspace has prompted Air India to divert flights typically operating over the region, affecting routes to North America, Europe, and the Middle East. Notable diversions include flights from London to Mumbai, New York to Delhi, and others redirected to cities such as Vienna and Sharjah. Air India is accommodating affected passengers with refunds and rescheduling options, while IndiGo has also announced delays and rerouting for its Istanbul flights. The Israeli airstrike, which targeted nuclear and missile sites, has raised fears of a broader conflict, with Iran threatening to retaliate with long-range missile strikes against Israel. The situation remains fluid, with Iraq also closing its airspace amid the rising tensions.
Published: Jun 13 2025, 11 ameznews.inIn a significant development for bilateral relations, India and China have agreed to fast-track the resumption of direct air services, as confirmed by the Indian foreign ministry on Friday. This agreement follows a meeting between Indian Foreign Secretary Vikram Misri and Chinese Vice Foreign Minister Sun Weidong, who is currently visiting India. The two nations had previously committed in January to address their trade and economic differences, a move anticipated to enhance cooperation and provide a substantial boost to their aviation sectors. The renewed focus on stabilizing ties comes amid ongoing efforts to strengthen economic collaboration between the two countries, which have historically had complex relations. The resumption of direct flights is expected to facilitate greater connectivity and foster closer ties in various sectors.
Published: Jun 13 2025, 10 am
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