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The Indian government has abruptly terminated K.V. Subramanian's tenure as Executive Director at the International Monetary Fund (IMF), effective immediately. Subramanian, who previously served as Chief Economic Advisor, joined the IMF in November 2022. The Appointment Committee of the Cabinet (ACC), led by the Prime Minister, issued the order on April 30 without providing a reason for his dismissal. However, sources indicate that Subramanian's critical remarks regarding the IMF's data accuracy and his working style may have contributed to the decision. In a tweet dated April 6, 2024, he highlighted discrepancies between the IMF's growth rate predictions for India and actual figures, asserting that the IMF's estimates were consistently below the true growth rate. His comments suggested significant errors in the IMF's forecasts, raising questions about the agency's data reliability. 
Published: May 03 2025, 9 pmeznews.inIndia's diesel consumption saw a notable rebound in April 2025, with a 4% increase to 8.23 million tonnes, marking the highest volume recorded for the month and the second highest ever for any month. This surge follows a period of low growth, attributed to the onset of summer, which boosts demand for irrigation in rural areas and air-conditioning in urban settings. Despite a modest 2% growth in the fiscal year ending March 31, 2024, and no growth in the previous year, diesel remains crucial, accounting for approximately 38% of the country's petroleum consumption. Meanwhile, petrol consumption also rose by 4.6% to 3.435 million tonnes, while LPG experienced a 6.7% increase, driven by Ujjawala connections. However, growth in aviation fuel (ATF) slowed to 3.25%, down from double-digit increases seen in the previous year due to election-related demand.
Published: May 04 2025, 12 pmeznews.inIndia's Chief Economic Advisor, Dr. V Anantha Nageswaran, expressed optimism about the nation's economic resilience during a recent event at Ashoka University, asserting that the economy remains robust despite global challenges. He noted that current economic indicators reflect positive progress and emphasized the importance of maintaining macroeconomic stability while pursuing innovation-driven, inclusive growth. Key focus areas include energy affordability, employment generation, education, and the rise of manufacturing. The International Monetary Fund (IMF) projects India to be the fastest-growing major economy, with growth rates of 6.2% in 2025 and 6.3% in 2026. Suman Bery, Vice Chairman of NITI Aayog, echoed this sentiment, highlighting India's goal of becoming a developed, high-income society by 2047 and the need for sustained growth through enhanced labor productivity and structural reforms. He suggested that global turmoil could present opportunities for India to accelerate its growth trajectory.
Published: May 04 2025, 11 ameznews.inTensions between India and Pakistan have sharply escalated following the April 22 Pahalgam terror attack, which claimed 26 lives, predominantly tourists. In response, India has imposed a ban on all imports from Pakistan and barred Pakistani ships from entering its ports, citing national security concerns. This move was swiftly reciprocated by Pakistan, which prohibited Indian flag carriers from accessing its ports and restricted its own vessels from docking in India. The Pakistani Ministry of Maritime Affairs stated that these measures are aimed at safeguarding national interests. Additionally, India has suspended mail and parcel exchanges with Pakistan and downgraded diplomatic ties. Amidst these developments, the Pakistan army conducted a successful missile test, which India views as a provocative act. The hunt for the attackers continues, with Indian authorities identifying four suspects, including two Pakistani nationals, linked to the attack.
Published: May 04 2025, 10 ameznews.inTata Consultancy Services (TCS) has entered into a partnership with Kuwait's Jazeera Airways to spearhead an AI-driven transformation aimed at enhancing customer experience and operational efficiency. The collaboration will modernise Jazeera Airways' digital platforms, including its website and mobile applications, and introduce an advanced AI-powered chatbot to improve customer interactions. TCS will leverage its expertise in artificial intelligence, platform engineering, and user experience design to create a seamless and hyper-personalised travel journey. Jazeera Airways' CEO, Barathan Pasupathi, highlighted that this partnership marks the beginning of a new era focused on customer-centric travel solutions. Established in 2004, Jazeera Airways operates flights to over 60 destinations across the Middle East, South Asia, and Europe, having served more than 5 million passengers to date.
Published: May 04 2025, 10 ameznews.inAs the world emerged from the COVID-19 pandemic in 2021, discussions around food systems intensified, particularly in India, where agriculture employs over half the population. The agri-tech sector attracted $1.28 billion in investment that year, with startups offering innovative solutions to enhance farming efficiency. However, by 2023, investment plummeted to $706 million, a 45% decline attributed to global inflation, geopolitical instability, and operational challenges. Despite this downturn, the Indian agri-tech market is projected to grow significantly, with global estimates suggesting a rise from $23.5 billion in 2022 to $79.7 billion by 2030. Unlike other tech sectors, agri-tech faces unique challenges, including the need for robust infrastructure and the cultivation of trust among farmers. To realize its potential, a collaborative approach involving government, private enterprises, and farmers is essential, alongside a shift in investor expectations towards the long-term nature of agricultural innovation.
Published: May 04 2025, 9 ameznews.inIndia has imposed a comprehensive ban on all goods imported from or exported to Pakistan, effective immediately, citing national security and public policy concerns. This decision follows a deadly terror attack in Pahalgam on April 22, which claimed 26 lives, predominantly tourists, with India accusing Pakistan of harboring terrorist groups responsible for the violence. The ban includes the suspension of postal services and the prohibition of Pakistani-flagged ships from entering Indian ports. Trade experts suggest that while the economic impact on India will be minimal, as it does not rely heavily on Pakistani goods, the suspension will significantly affect Pakistan, which depends on Indian imports like pharmaceuticals. This move is seen as largely symbolic, following previous tariffs imposed after the 2019 Pulwama attack, which had already drastically reduced trade between the two nations.
Published: May 03 2025, 3 pmeznews.inIndia is poised to present its groundbreaking rural land reform initiative, the SVAMITVA Scheme, at the World Bank Conference 2025 in Washington, DC, starting May 5. This innovative program, which utilizes drone and geospatial technology, aims to provide legal ownership of property in rural areas, having already issued property cards to 24.4 million households across over 160,000 villages. The initiative has transformed land governance in rural India, unlocking an estimated $1.162 trillion in land value. A high-level delegation, led by Vivek Bharadwaj from the Ministry of Panchayati Raj, will showcase India's success in enhancing property rights and empowering women during two key sessions focused on land tenure and climate action. The conference will gather global leaders to discuss sustainable land-use strategies, with India’s contributions highlighting the intersection of technology, governance, and grassroots development.
Published: May 03 2025, 6 pmeznews.inDesigners are pivotal in creating sustainable packaging solutions, yet convincing consumers to embrace these innovations remains a challenge, according to Nandita Abraham, Dean of BITS Design School. Established a year and a half ago, the school emphasizes design thinking and collaboration, equipping students to tackle sustainability issues in agriculture and supply chains. Abraham highlighted the importance of understanding consumer behavior and the entire product journey from farm to shelf, advocating for systems thinking in design. She noted that while single-layer plastics can be recyclable, consumer preferences often lean towards more complex materials. Current research includes exploring bio-based materials like seaweed and crustacean shells, aiming to enhance product freshness while minimizing environmental impact. Despite growing awareness of climate change, Abraham acknowledged a gap in consumer knowledge about sustainable packaging, emphasizing the need for solutions that protect products while being environmentally friendly.
Published: May 03 2025, 6 pmeznews.inAdani Ports and Special Economic Zone (APSEZ) is set to expand its international footprint by targeting acquisitions of port assets in Africa and South-East Asia, according to CEO Ashwani Gupta. During a recent earnings call, Gupta emphasized the company's strategy to seek ports that align with its growth objectives, aiming for majority stakes to enhance operational control. APSEZ, which currently manages ports in Israel, Sri Lanka, Tanzania, and Australia, recently acquired the North Queensland Export Terminal in Australia. Gupta highlighted significant progress at the Haifa port, including the appointment of key personnel and a long-term agreement with eight labor unions to boost productivity. The company plans a capital expenditure of ₹12,000 crore for FY 2026, focusing on containerized cargo infrastructure, which has driven a rise in market share from 43.8% to 45.5%. APSEZ reported a record cargo volume of 450 million tonnes and a 37% year-on-year increase in profit after tax, reaching ₹11,061 crore.
Published: May 03 2025, 4 pm
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