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The Indian government has launched a consultation period for its newly approved Electronics Component Manufacturing Scheme (ECMS), aimed at bolstering the country's passive electronics supply chain with a funding of ₹22,919 crore. Minister of Electronics and Information Technology Ashwini Vaishnaw announced that the scheme, which will be open for industry feedback for two weeks, is designed to attract significant investments and enhance domestic value addition over the next six years. It includes three incentive components: employment-linked incentives, capital subsidies for high capital expenditure sectors, and production-linked incentives. Vaishnaw highlighted the impressive growth in India's electronics sector, with mobile phone exports exceeding ₹2 lakh crore in FY25, driven largely by iPhone shipments. The scheme is expected to have a multiplier effect across various sectors, including automotive and defence, and will facilitate the production of a wide range of passive components essential for electronics manufacturing. 
Published: Apr 08 2025, 8 pmeznews.inSeaweed cultivation is rapidly expanding along India's coastline, promising economic benefits for coastal communities while aiding environmental conservation. With the global seaweed market valued at $16.5 billion in 2022, experts like Grinson George from the ICAR-Central Marine Fisheries Research Institute highlight the sector's potential, particularly through innovative practices like Integrated Multi-Trophic Aquaculture (IMTA). This method enhances yields by combining seaweed farming with fish farming, making species like Kappaphycus a lucrative option. Dubbed "Blue Gold," seaweed farming offers a sustainable alternative to traditional fishing, alleviating pressure on marine ecosystems. The sector's growth is further supported by the establishment of fish farmer producer companies, improving market access for local stakeholders. Additionally, seaweed's applications in food, cosmetics, and pharmaceuticals, along with its role in climate change mitigation, underscore its versatility. To scale production, experts call for improved coastal leasing policies, investment in research, and the development of seed banks.
Published: Apr 17 2025, 4 pmeznews.inBoeing is facing significant disruptions in aircraft deliveries to China, which could lead to a reallocation of future delivery slots for Indian and global carriers. On Tuesday, China halted deliveries of Boeing aircraft amid escalating trade tensions with the US, leaving Chinese airlines with a backlog of 130 planes, including 21 for Cathay Pacific. As of December 2024, Boeing had 55 737 Max aircraft awaiting delivery, primarily for Chinese customers who had previously rejected them due to safety concerns. Experts suggest that if the Chinese ban becomes permanent, Boeing may redirect these slots to other operators, as seen with Air India, which has already benefited from similar situations. Indian carriers, including Air India, Air India Express, Akasa Air, and SpiceJet, collectively have a backlog of 506 Boeing aircraft, with Air India Express expecting six more deliveries by June. Boeing anticipates an average of two monthly deliveries to Indian customers in 2025.
Published: Apr 17 2025, 3 pmeznews.inIndian shrimp exporters are anxiously awaiting a US review of anti-dumping and countervailing duties set to begin next month, amid calls for government intervention to secure relief from stiff global competition, particularly from Ecuador and Vietnam. Industry experts argue that the US's calculation methods for these duties are flawed, with Kolkata-based exporter Yogesh Gupta highlighting that the US misinterprets India's RoDTEP and duty drawback schemes as incentives, despite their WTO compliance. The US employs a 'zeroing' method that distorts dumping margin calculations, leading to an effective customs duty of 17.7% on Indian shrimp exports. The Seafood Exporters Association of India has urged the government to ensure a "level-playing field" in upcoming trade talks, especially as Ecuador benefits from lower duties and proximity to the US market. With 40% of India's shrimp exports destined for the US, the stakes are high for the industry, which operates around 100,000 farms, primarily in Andhra Pradesh.
Published: Apr 17 2025, 2 pmeznews.inB. V. R. Subrahmanyam, CEO of NITI Aayog, projected on Thursday that India’s economy will surpass Germany and Japan within three years, potentially becoming the second-largest global economy by 2047, with a target size of $30 trillion. Currently the fifth largest at $4.3 trillion, India is expected to rise to fourth place by the end of next year and third by 2025. Subrahmanyam emphasized India's democratic framework as a key advantage in its ambition to become a global education hub. He highlighted the distinct challenges faced by middle-income countries compared to low-income nations, focusing on the transition to a knowledge economy. Additionally, he noted the global demand for Indian professionals, citing Japan and Germany's recruitment of thousands of Indian healthcare workers, positioning India as a stable supplier of working-age individuals in a world facing demographic shifts.
Published: Apr 17 2025, 2 pmeznews.inElectric cab-hailing service BluSmart has suspended operations across Delhi-NCR, Bengaluru, and Mumbai, affecting thousands of drivers and customers, following a crackdown by the Securities and Exchange Board of India (SEBI) on its co-founders over alleged fund misuse. The company, which operates over 8,000 electric taxis, halted bookings on Wednesday evening, leaving many customers frustrated and concerned about their balances. SEBI has banned brothers Anmol and Puneet Jaggi from the stock market and initiated a forensic investigation into their renewable energy firm, Gensol, amid allegations of diverting funds meant for electric vehicle purchases to luxury apartments. BluSmart has promised refunds within 90 days if services do not resume, while the Delhi Airport issued a passenger advisory regarding the suspension. The company, backed by BP Ventures, had a fleet of over 8,500 electric vehicles and a network of 5,800 charging stations as of January 2025.
Published: Apr 17 2025, 1 pmeznews.inFitch Ratings has revised India's GDP growth estimate for the current fiscal year down by 10 basis points to 6.4%, citing concerns over a significant escalation in the global trade war. The agency highlighted the unpredictability of US trade policy, which is dampening business investment and affecting household wealth due to falling equity prices. Fitch also lowered its global growth projections for 2025 by 0.4 percentage points, predicting world growth to dip below 2% this year, marking the weakest rate since 2009, excluding the pandemic. For India, growth estimates for the 2024-25 fiscal year were also cut to 6.2%, while the 2026-27 forecast remains at 6.3%. In contrast, the US is expected to maintain a positive growth rate of 1.2% for 2025, while China's growth is projected to fall below 4% for both this year and next.
Published: Apr 17 2025, 12 pmeznews.inThe Indian government is currently evaluating the effects of recent US tariffs on its chemicals and petrochemicals sector, according to Chemicals and Petrochemicals Secretary Nivedita Shukla Verma. Following a reduction in a proposed 26% tariff to 10% by US President Donald Trump, the government is engaging with industry stakeholders to assess potential impacts. Chemicals account for approximately 18% of India's total exports to the US, valued at around $5.7 billion for FY24, with estimates suggesting that the tariff hike could lead to a decline in chemical exports by $2-7 billion by FY26. Experts warn that increased costs may dampen demand for specialty chemicals, while Indian petrochemical exports, worth about $4 billion in 2024, could also face reduced demand. Additionally, concerns have arisen over potential dumping of cheaper Chinese chemicals in global markets, which could further depress prices. Verma highlighted the need for long-term development strategies for the sector.
Published: Apr 17 2025, 12 pmeznews.inA recent report by GroupM India and Kantar highlights a shift in rural Indian consumer behavior, emphasizing a growing focus on essential spending, particularly in personal care, while purchases of non-essential items decline. The study, which surveyed over 4,000 rural adults across 20 states, reveals that three-quarters of rural Indians are anxious about their financial stability, leading to tighter monthly budgets amid rising household expenses and inflation concerns. Despite these challenges, digital adoption is surging, with 70% of rural consumers engaging with online media, particularly younger and affluent demographics. While local shops remain the preferred choice for groceries, online shopping is gaining traction, especially for apparel and cosmetics. Experts suggest that as rural consumers become more connected and price-sensitive, brands must adapt their engagement strategies to meet the evolving needs and aspirations of this demographic. Traditional media still holds credibility, though trust in social media varies by age and income.
Published: Apr 17 2025, 11 ameznews.inIndia is projected to face a cotton shortfall of 2.5 million bales this year, a gap that may be filled through increased imports, particularly from the United States. Recent data from the US Department of Agriculture indicates that exports of US upland cotton to India surged from 25,901 bales to 155,260 bales between February and April, reaching a two-and-a-half-year high. This rise is attributed to escalating trade tensions between the US and China, which have led to higher tariffs on US goods in China, prompting American cotton to find a new market in India. The Cotton Association of India has revised its production estimate down by 250,000 bales to 30.1 million, marking a 7.84% decline from the previous season. As a result, India's cotton imports for 2024/25 are expected to double, with the country also sourcing cotton from Australia, Brazil, and Egypt.
Published: Apr 17 2025, 10 ameznews.inA recent report by Nuvama Research has forecasted a positive outlook for the Indian cement sector, anticipating improved prices and volumes in the coming months. The report highlights that cement prices have already risen across all regions, particularly in the south, driven by increased demand and a favourable low base from the previous fiscal year. Government capital expenditure, which had seen a decline earlier, is now recovering, further bolstering demand. While the report predicts a 7-8% growth in industry volumes for the fourth quarter of FY25, it cautions that overall growth for the year may slow to around 4-5% due to factors such as the upcoming general elections and a high base from FY24, which saw a 9% increase. Despite these short-term challenges, the long-term outlook for the sector remains optimistic, supported by rising prices and stable demand.
Published: Apr 17 2025, 9 am
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