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The Indian government has imposed a stock limit on wheat for retailers, wholesalers, traders, stockists, and processors, mandating that any excess quantities must be disposed of within 15 days. This decision follows a significant decline in wheat procurement, with the government purchasing 29.82 million tonnes (mt) against a target of 33.27 mt by May 27. The stock limit, effective until March 31, 2026, aims to manage food security and curb hoarding, allowing retailers to hold a maximum of 10 tonnes and traders 3,000 tonnes. Processors can maintain stocks based on their monthly capacity. This announcement coincides with the Agriculture Minister's revised wheat production estimate, now projected at 117.51 mt for the 2023-24 season, reflecting a 3.7% increase from the previous year. Stakeholders are required to regularly update their stock information on the Food Ministry's portal. 
Published: May 28 2025, 8 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.
Published: 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.
Published: 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.
Published: 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.
Published: 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.
Published: 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.
Published: May 30 2025, 9 ameznews.inHarvested Robotics, a Hyderabad-based start-up specializing in robotic solutions for agriculture, has appointed a Golden Retriever named Denver as its Chief Happiness Officer (CHO) to enhance employee morale. Co-Founder and CEO Rahul Arepaka introduced Denver on LinkedIn, highlighting the dog’s role in boosting workplace energy without the need for coding or complex tasks. The company, which recently secured ₹5 crore in pre-seed funding from Arali Ventures and notable angel investors, aims to revolutionize farming through AI-driven laser weeding, reducing reliance on chemicals. While many welcomed the initiative, some critics argued that using a dog as a PR tool could distract from creating a genuinely respectful and low-stress work environment. Despite mixed reactions, Harvested Robotics has officially embraced a pet-friendly policy, with Denver already stealing hearts and generating buzz among employees and followers alike.
Published: May 29 2025, 10 pmeznews.inIn a significant development for India's agricultural sector, the government has registered 34 new biostimulants, bringing the total to over 45, a move expected to enhance manufacturing and export opportunities in the agri-input segment. This follows the registration of 11 biostimulants in May 2024 and their formal inclusion under the Fertiliser Control Order (FCO) in 2021. Vipin Saini, CEO of the Biological Agri Solutions Association of India, noted that the rapid registration of biostimulants, which include seaweed extracts and humic acids, positions India ahead of the European Union, which has only registered a handful. The Indian bio-input market is valued at approximately $211 million, while the global market stands at $3.39 billion. Experts emphasize that these formulations can mitigate climate change impacts and improve nutrient uptake, while also calling for regulatory clarity to support innovation in the sector.
Published: May 29 2025, 9 pmeznews.inUnion Finance Minister Nirmala Sitharaman highlighted the significance of Operation Sindoor in enhancing India's warfare capabilities and technological integration among its armed forces during a recent address at the Institute of Economic Growth. She asserted that this operation exemplifies India's advancements in 21st-century warfare, emphasizing the importance of leveraging technology for strategic depth rather than traditional border crossings. Sitharaman also noted India's remarkable digital financial transformation, which has permeated various sectors. Addressing budgetary concerns, she explained the necessity of increased capital expenditure in the post-COVID-19 era, supported by 50-year interest-free loans to states. In a meeting with Asian Development Bank President Masato Kanda, she advocated for enhanced support for rural prosperity initiatives and emphasized the private sector's role in infrastructure financing. Kanda reaffirmed ADB's commitment to supporting India's development goals, including its vision for becoming a developed nation by 2047.
Published: May 29 2025, 9 pmeznews.inIn a significant development for India-US trade relations, a US trade court has blocked President Donald Trump's reciprocal tariffs, alleviating immediate pressure on India to finalize an interim trade pact. The ruling, which challenges the legality of Trump's broad tariff impositions, does not affect industry-specific tariffs on sectors like automobiles and steel. Experts suggest that India should adopt a cautious approach in ongoing bilateral trade agreement (BTA) negotiations, as the outcome of the Trump administration's appeal could impact the validity of any agreements reached. Rajesh Agarwal, Additional Secretary in the Ministry of Commerce, emphasized the importance of a mutually beneficial trade deal, highlighting the complementary nature of the two economies. Meanwhile, Commerce Minister Piyush Goyal reiterated India's commitment to fostering strong economic ties while remaining non-intrusive in US domestic matters. The court's decision underscores the complexities of international trade negotiations amid evolving legal landscapes.
Published: May 29 2025, 9 pm
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