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Commerce and Industry Minister Piyush Goyal convened a meeting with exporters on Wednesday to strategize on boosting India's outbound shipments amid global economic challenges, particularly due to recent US tariffs. Exporters, represented by Mithileshwar Thakur from the Apparel Export Promotion Council, emphasized the need for government support in four critical areas: affordable export credit, stable policy frameworks, reduced compliance burdens, and improved trade facilitation for micro, small, and medium enterprises (MSMEs). The call for a long-awaited Export Promotion Mission aims to enhance access to export credit and assist MSMEs in navigating non-tariff barriers. Following a 12% decline in exports to the US in September, attributed to a 50% tariff increase, exporters are urging a moratorium on loan repayments until December 2026 and the restoration of the interest equalisation scheme. India's goods exports stagnated at $437.42 billion in FY25, reflecting a mere 0.08% growth from the previous year. 
Published: Oct 29 2025, 10 pmeznews.inIn a significant move towards sustainable maritime operations, the Cochin Port Authority and Bharat Petroleum Corporation Limited (BPCL) have signed a Memorandum of Understanding (MoU) to establish LNG bunkering facilities for LNG-powered and dual-fuel vessels. The agreement, formalized during the India Maritime Week 2025 in Mumbai, involves an investment of ₹500 crore and aims to promote clean fuel usage in maritime activities. The MoU was signed by Capt. Himanshu Shekhar of Cochin Port and Sanjay Kargaonkar of BPCL, in the presence of B. Kasiviswanathan, Chairperson of Cochin Port, and BPCL's Business Head, Manoj Menon. This initiative aligns with India's commitment to reducing carbon emissions and enhancing sustainability, positioning Kochi as a key LNG bunkering hub on the South Indian coast. The project is expected to commence by the end of the year, generating significant employment opportunities.
Published: Oct 30 2025, 8 ameznews.inDrydocks World, a subsidiary of DP World, has signed a tripartite Memorandum of Understanding (MoU) with Cochin Shipyard Limited and the Centre of Excellence in Maritime and Shipbuilding (CEMS) to enhance India's maritime workforce. Announced during India Maritime Week 2025, the initiative aims to position India as a global hub for skilled shipbuilding and repair professionals by bridging skill gaps through training aligned with international standards. The MoU will facilitate annual training programs that combine theoretical and practical learning, utilizing advanced facilities and industry expertise from both India and the UAE. Rado Antolovic, CEO of Drydocks World, emphasized the importance of developing a competitive workforce to sustain global shipbuilding, while Madhu S Nair of Cochin Shipyard highlighted the initiative's potential to meet domestic and international demands. Arun Sharma of CEMS reiterated the commitment to delivering hands-on training that empowers youth with globally recognized skills.
Published: Oct 30 2025, 8 ameznews.inCommunications Minister Jyotiraditya Scindia has urged India Post to transform into a future-ready logistics organization, aiming for its mail and parcel business to contribute 75% of total revenue within three years. Speaking at the Postal Department's Quarterly Business Meet for Q2FY26, Scindia emphasized the need for India Post to remain competitive in logistics and financial services while maintaining its public service mandate. He announced the launch of six new delivery services next year and called for upgrades to road transport infrastructure, particularly in northeastern states, by March 2026. Targeted interventions will be implemented in twelve mid-performing circles to develop successful models, with a focus on peer learning and competitive benchmarking. Scindia also highlighted the importance of diversifying business lines, aiming for an 80% contribution from the private sector, and announced plans to establish 18 Next-Generation Post Offices across seven states to enhance service excellence.
Published: Oct 30 2025, 8 ameznews.inIn a significant policy shift aimed at supporting domestic growers, India has announced the reintroduction of import duties on yellow peas, effective November 1. The Finance Ministry's notification specifies a 10 per cent import duty alongside a 20 per cent Agriculture Infrastructure Development Cess (AIDC). This decision responds to concerns from the pulses industry, which has attributed the recent decline in global pulse prices to the influx of duty-free yellow peas, a situation exacerbated by the peak arrival of kharif crops. The import duty had been suspended since December 2023, and the latest move is expected to bolster prices for local farmers, who have been struggling amid falling market rates. The reimposition of these tariffs reflects the government's commitment to stabilising the agricultural sector and ensuring better returns for growers.
Published: Oct 29 2025, 11 pmeznews.inThe Institute of Chartered Accountants in India (ICAI) has called for public feedback on its proposed changes to the Code of Ethics, with submissions open until November 26. The revisions aim to modernize the 12th Edition of the Code, effective since July 2020, in line with the government's vision for large multi-disciplinary partnership firms. Key proposals include a new chapter on sustainability assurance, updated terminology replacing "professional accountant" with "Chartered Accountant," and expanded guidelines for services like forensic accounting and CSR impact assessments. Additionally, the draft suggests amendments to advertising guidelines to reflect contemporary practices and allows Chartered Accountants to partner with other professionals in insolvency and resolution entities. Changes to auditor independence and fee structures are also proposed, responding to concerns raised by the National Financial Reporting Authority regarding auditor independence in public interest entities.
Published: Oct 29 2025, 8 pmeznews.inIn oil year 2024-25, India's soybean market is facing significant challenges, with the feed sector's off-take of soymeal declining by approximately 6% to 62 lakh tonnes, attributed to weak demand and increased competition from Distiller’s Dried Grains With Solubles (DDGS). Despite a lower crop yield and a sharp reduction in carry-forward stocks—estimated at 4.66 lakh tonnes, down 47% from the previous year—soybean prices remain under pressure, trading below the minimum support price of ₹5,328 per quintal. The modal price ranges between ₹3,700 and ₹4,700 per quintal across key producing states. The Soyabean Processors Association of India (SOPA) has projected a 16% drop in soybean output for the 2025 kharif season, forecasting production at 105 lakh tonnes due to adverse weather conditions and crop diseases. In response to the low prices, the Indian government has approved procurement measures in several states.
Published: Oct 29 2025, 8 pmeznews.inA new initiative, the SMART-CROP project, has been launched to assist over 8,000 smallholder farmers in Karnataka and Telangana, backed by the SBI Foundation’s LEAP programme. This three-year project will leverage satellite imaging, remote sensing, and AI/ML analytics to provide real-time monitoring of crop stress, enabling farmers to proactively address climate risks, pest outbreaks, and soil degradation. Collaborating with the University of Agricultural Sciences, Raichur, the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT), and Agribridge, the project aims to enhance crop resilience and promote climate-smart practices. Sanjay Prakash, MD of SBI Foundation, highlighted the technology-driven solutions that will reduce risks for farmers, while ICRISAT's Himanshu Pathak noted the potential to save billions in food losses. The initiative will also include socio-economic assessments to evaluate yield gaps and the benefits of early detection tools.
Published: Oct 29 2025, 8 pmeznews.inThe Bharat International Rice Conference (BIRC) 2025 is set to commence on October 30 at Delhi’s Bharat Mandapam, showcasing India's pivotal role as the world's leading rice producer. Organised by the Indian Rice Exporters Federation (IREF) in collaboration with the Department of Commerce and other government bodies, the event will host delegates from over 80 countries, including key rice importers, exporters, scientists, and policymakers. IREF founder Prem Garg emphasized the conference's goal of fostering collaboration among Indian farmers, exporters, and innovators to enhance the global reputation of Indian rice. Additionally, 17 farmers from various states, including Uttar Pradesh and West Bengal, will be honoured for their contributions to quality and sustainable rice cultivation, particularly for unique varieties such as Govindobhog and Chak-Hao. The conference aims to position Indian rice as not only the most traded but also the most trusted globally.
Published: Oct 29 2025, 8 pmeznews.inUnion Minister of Commerce and Industry Piyush Goyal met with EU Commissioner for Trade and Economic Security Maroš Šefčovič in Brussels from October 26-28 to address unresolved issues in the proposed India-EU free trade agreement (FTA). Key topics include steel duties, automobile market access, and the EU's carbon tax legislation. Goyal reported that significant progress has been made, with 10 out of 20 chapters agreed upon and further convergence on additional chapters. A technical team from the EU is set to visit India next week to explore potential solutions. India is particularly concerned about the EU's proposal to reduce duty-free quotas on steel imports and the implications of the Carbon Border Adjustment Mechanism, which could impose tariffs on Indian exports. Both sides aim for a substantial conclusion of the FTA by year-end, although Goyal emphasized that India does not negotiate under strict deadlines.
Published: Oct 29 2025, 8 pm
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