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The Union Bank of India (UBI) has warned that ongoing global tariff wars and rising gold prices are likely to significantly influence the consumer price index (CPI) in the coming months, despite stable food prices. The report highlights that inflation could rise due to increased costs of non-food essentials, particularly precious metals. Recent data from the Ministry of Statistics revealed that India's retail inflation fell to 3.16% in April, down from 3.34% in March, attributed to lower prices for various goods, including vegetables and personal care items. Core inflation remained steady at 4.09%, with expectations of a 50 basis points repo rate cut by the Reserve Bank of India (RBI) between June and August. The RBI has maintained inflation within its target range of 2-6%, providing reassurance to economists amid global inflation concerns. 
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May 14 2025, 9 ameznews.inIn a recent development, the Marine Products Exports Development Authority (MPEDA) hosted the inaugural inter-state Skill Olympiad focused on seafood value addition at NIFPHATT in Kochi, featuring 20 participants from the West Coast. Competitors showcased ten innovative seafood products made from shrimp, squid, cuttlefish, tuna, and tilapia. MPEDA Chairman D.V. Swamy underscored the significance of upskilling in the seafood sector to align with the Indian government's Viksit Bharat 2047 vision, aiming to position India as a global leader in seafood processing. The event aimed to enhance skills, create a trained workforce, and raise awareness about the quality of seafood products. A five-member expert panel evaluated the participants, culminating in a tasting session of the value-added marine products. This initiative reflects a commitment to advancing the seafood industry and improving the quality of products available in the market.
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May 30 2025, 1 pmeznews.inIndiGo is set to launch direct flights to ten international destinations, including London and Athens, in the current financial year, according to CEO Pieter Elbers. The airline will begin operations from Mumbai to Manchester and Amsterdam using leased Boeing 787-9 aircraft in July, marking its entry into long-haul flights. Elbers emphasized the significant growth potential in Indian aviation, driven by rising demand and infrastructure expansion, and highlighted India's opportunity to become a major hub for connecting flights. Currently, Indian carriers account for 45% of the country's international traffic, with the remainder served by foreign airlines. IndiGo, a $10 billion-revenue company, operates over 2,300 daily flights to more than 90 domestic and 40 international destinations with a fleet of over 430 aircraft. Additionally, the airline will host the 81st Annual General Meeting of the International Air Transport Association (IATA) in New Delhi in June, the first in India in 42 years.
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May 30 2025, 12 pmeznews.inThe Central Consumer Protection Authority (CCPA) has introduced new guidelines aimed at regulating the illegal sale of radio equipment, including walkie-talkies, on e-commerce platforms. Effective from 2025, these guidelines impose platform liability and outline penalties for non-compliance. They seek to prevent the unauthorized sale of wireless devices that could jeopardize consumer safety and disrupt critical communication networks, such as those used by law enforcement. Under the new rules, only authorized walkie-talkies operating on permitted frequencies may be sold online, with listings required to include frequency ranges and proof of regulatory approval. E-commerce platforms must verify compliance and remove listings lacking necessary certifications. Additionally, misleading advertisements regarding the legal use of these devices are prohibited. The guidelines were developed after extensive consultations with the Department of Telecommunications and the Ministry of Home Affairs, following concerns over the sale of walkie-talkies without proper disclosures.
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May 30 2025, 12 pmeznews.inGlobal airline executives are convening in New Delhi for the International Air Transport Association's annual summit, grappling with the dual challenges of an unpredictable trade war and ambitious environmental targets. Despite a post-pandemic surge in travel demand, airlines face rising costs, delivery delays, and supply chain issues, compounded by geopolitical tensions, particularly from the evolving US trade policies. While European and Asian carriers report robust demand, US airlines are experiencing a downturn, struggling with consumer confidence and inflation. IATA warns that the industry may fall short of its 2050 net-zero emissions goal, primarily due to the high costs and limited supply of sustainable aviation fuel (SAF). The summit, hosted by IndiGo, also highlights the impact of regional conflicts, such as India's tensions with Pakistan, on operational costs. As the aviation sector seeks to navigate these complexities, calls for improved regulatory frameworks and collaboration are expected to dominate discussions.
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May 30 2025, 12 pmeznews.inForeign direct investment (FDI) in India has surged to a three-year high of $81 billion for the fiscal year 2024-25, with expectations for further growth, according to Amardeep Singh Bhatia, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT). Speaking at a Confederation of Indian Industry (CII) event, Bhatia highlighted that Indian industries are increasingly investing abroad to secure technology, resources, and market access. He emphasized the importance of free trade agreements in creating opportunities for businesses and noted that production-linked incentive schemes, particularly in the electronics sector, are enhancing manufacturing capabilities. Bhatia encouraged industries to adopt a long-term perspective, urging them to look beyond short-term uncertainties to fully leverage emerging opportunities in the global market.
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May 30 2025, 10 ameznews.inIn a mixed day for Indian markets, the SENSEX closed at 81,575.66, down 57.36 points, while the NIFTY fell by 26.25 points to settle at 24,807.35. Commodity prices also saw declines, with crude oil dropping by 29.00 to 5,186.00, gold decreasing by 561.00 to 94,828.00, and silver falling by 956.00 to 96,870.00. Meanwhile, trade negotiations between India and the United States are progressing, with a US delegation scheduled to visit New Delhi from June 5-6 to discuss a potential interim trade agreement ahead of a July 9 deadline. Indian Commerce Minister Piyush Goyal recently described his talks with US counterpart Howard Lutnick as constructive. The discussions come in the wake of a US court ruling that deemed President Donald Trump’s global tariffs illegal, complicating the trade landscape further.
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May 30 2025, 10 ameznews.inThe Income Tax Department has launched an Excel utility for the ITR-1 (SAHAJ) and ITR-4 (SUGAM) forms for the Assessment Year 2025-26, facilitating the filing of income tax returns. Taxpayers can now report incomes earned between April 1, 2024, and March 31, 2025, using these forms, with a filing deadline set for September 15. ITR-1 is designated for individuals with total incomes up to ₹50 lakh, while ITR-4 caters to individuals, Hindu Undivided Families, and partnership firms with similar income thresholds. Notably, the updated forms include provisions for disclosing long-term capital gains under Section 112A, allowing exemptions for gains up to ₹1.25 lakh. Tax expert Sandeep Jhunjhunwala highlighted that these changes simplify the reporting process for salaried individuals, reducing the need for more complex filings previously required under Form ITR-2.
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May 30 2025, 10 ameznews.inOn Friday morning, the India Meteorological Department (IMD) reported no significant weather-producing systems over the Arabian Sea or Bay of Bengal, apart from a depression located over Bangladesh. This depression, situated 120 km northeast of Berhampore, is expected to weaken into a low-pressure area by Saturday but will continue to influence rainfall across East and Central India until it dissipates. Rainfall activity across most of India is anticipated to be below normal from June 5 to 11, following the depression's decline. However, the monsoon is expected to advance in parts of East and Central India during this period. Meanwhile, isolated heavy rainfall is forecast for Kerala and Mahe, with additional rainfall expected in Coastal Karnataka and Tamil Nadu. The IMD has also warned of potential landslides in vulnerable areas of north coastal Kerala due to the active monsoon conditions.
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May 30 2025, 10 ameznews.inIndia is emerging as a significant growth market for steel, according to a recent Jefferies report, which highlights the country as the only large nation to report substantial volume growth in major commodities from 2019 to 2024. While global steel production declined by 1%, India's output surged by 33%. The report notes that India is one of the few countries consistently showing growth in carbon steel, stainless steel, coal, and aluminium, with carbon and stainless steel consumption growing at a compound annual growth rate (CAGR) of 7-8%. Despite facing pricing pressures in late 2024 due to falling Chinese prices and increased imports, the Indian government responded by imposing a 12% safeguard duty on flat steel imports, leading to a rebound in domestic prices. Jefferies projects that Indian steel prices will average between ₹52,000 and ₹53,000 per tonne in FY26 and FY27, maintaining a positive outlook for the sector amid a sluggish global commodities market.
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May 30 2025, 9 ameznews.inIndia's economic growth is projected to accelerate in the January-March quarter, with GDP expected to rise by 6.7% year-on-year, up from 6.2% in the previous quarter, driven by increased rural demand and government spending, despite private sector investment hesitance amid global uncertainties. The Ministry of Statistics will release the official GDP data on Friday, with some economists predicting growth could exceed expectations due to reduced government subsidies, although gross value added (GVA) growth may be lower. JP Morgan anticipates a 7.5% GDP growth for the quarter, while the Reserve Bank of India forecasts a 6.5% growth for the upcoming fiscal year. Despite global economic challenges, India remains relatively insulated, bolstered by tax cuts and lower interest rates. Retail inflation has eased, potentially allowing for further rate cuts, while government measures could support growth between 6.3% and 6.8% in the current fiscal year.
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May 30 2025, 9 am
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