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Leading agricultural experts in India are advocating for the accelerated adoption of hybrid technology to tackle pressing issues of food security, climate change, and sustainable development. Speaking at a symposium in New Delhi, PK Mishra, Principal Secretary to the Prime Minister, emphasized that hybrid technology should not only enhance crop yields but also promote equitable growth and increase farmers' incomes. Despite a 4.1% growth in the agricultural sector since 2014, the contribution of agriculture to GDP has declined from 42% in 1969 to 18% in 2023, with 37% of the workforce still dependent on it. Experts highlighted the need for focused research on hybrid crops, particularly in rice, pulses, and oilseeds, while ensuring affordability for smallholder farmers. The symposium, organized by the Trust for Advancement of Agricultural Sciences, also called for clearer policies on genetically modified crops and better access to quality seeds to drive innovation in agriculture. 
Published: Jan 09 2025, 8 ameznews.inIndia has unveiled the eighth edition of the National Programme for Organic Production (NPOP), introducing new regulations designed to enhance clarity and transparency in organic product standards while aligning with global benchmarks. Announced by Commerce Minister Piyush Goyal, the updated guidelines aim to boost organic farming and exports, with potential growth from ₹5,000-6,000 crore to ₹20,000 crore over the next three years as more farmers transition to organic practices. Goyal emphasized India's position as a leader in organic farming, with the global demand for organic products projected to rise significantly. The revamped NPOP portal, TraceNet 2.0, was also launched to improve operational efficiency for stakeholders. Additional provisions in the new guidelines allow for a quicker transition from non-organic to organic farming and ensure fair compensation for farmers' produce. The initiative aligns with Prime Minister Narendra Modi's vision of positioning India as the world's organic food hub.
Published: Jan 09 2025, 8 pmeznews.inIndia's crude oil imports saw a significant shift in December 2024, as shipments from Russia declined sharply, prompting refiners to turn to the Middle East and Africa for supply. According to energy intelligence firm Vortexa, imports from the Middle East surged to 51% of India's total crude imports, reaching 2.3 million barrels per day (mb/d), the highest level since January 2024. This increase was driven by a drop in Russian crude, particularly the Urals grade, which fell by 13% month-on-month. Angola emerged as a key supplier, overtaking the US to become the fifth largest source of crude for India. While imports from Iraq and Kuwait hit an 11-month high, those from Saudi Arabia fell to a four-month low. Overall, India's crude imports decreased to their lowest level in three months but still rose by 4% year-on-year, indicating a strategic pivot towards Middle Eastern and African oil sources.
Published: Jan 09 2025, 8 pmeznews.inThe Indian government is set to introduce a new credit guarantee scheme for Micro, Small, and Medium Enterprises (MSMEs), allowing loans up to ₹100 crore without collateral, as announced by Department of Financial Services Secretary M. Nagaraju during the Grameen Bharat Mahotsav (GMB) 2025 in New Delhi. This initiative, part of the 2024-25 Budget, aims to facilitate term loans for MSMEs to purchase machinery and equipment, with a self-financing guarantee fund to cover risks. The GMB, inaugurated by Prime Minister Narendra Modi, highlighted the government's commitment to rural transformation and achieving a "Viksit Bharat" by 2047. Nagaraju emphasized the need for increased rural credit, which has surged from ₹8.5 lakh crore in 2015 to ₹25 lakh crore in 2023-24, and underscored the importance of grassroots innovation and support for women entrepreneurs through various initiatives.
Published: Jan 09 2025, 8 pmeznews.inThe Business Correspondent Resource Council (BCRC) has urged the Department of Financial Services (DFS) to implement key measures in the upcoming budget to bolster Bank Mitras and Corporate Business Correspondents (CBCs) in India. In a letter to DFS Secretary M Nagaraju, BCRC CEO D Tripathy emphasized the need for enhanced financial support and incentives to expand banking access in underserved areas. He proposed the creation of a dedicated infrastructure grant fund to help Bank Mitras upgrade their technology and equipment. Additionally, Tripathy suggested establishing the India Business Correspondent Equity Fund (IBCEF) to provide equity support for CBCs, ensuring their growth and operational efficiency. These initiatives aim to empower frontline financial service providers, particularly in remote regions, thereby reinforcing the national priority of financial inclusion and contributing to socioeconomic development across India.
Published: Jan 09 2025, 8 pmeznews.inAir India, under the Tata Group, has initiated an asset optimisation programme titled "Route to Profitability 2027," aiming to save over ₹1,800 crore by the end of FY27. This initiative focuses on renegotiating contracts in key operational areas, including fuel, lounges, ground handling, and catering, and has been in development for ten months, yielding significant results. The airline's five-year transformation plan, Vihaan.AI, has entered its third phase, "Climb," which aims to integrate Air India with Vistara, enhance customer value, and drive profitability. CEO Campbell Wilson is overseeing the strategy, which includes specific cost-reduction targets across departments, particularly in fuel management, where weight reduction measures are expected to lower operational costs. While the programme seeks to cut unproductive services, Air India assures that passenger amenities will remain unaffected, with a strong emphasis on utilising technology to enhance efficiency.
Published: Jan 09 2025, 7 pmeznews.inIndia's major reservoirs are currently at 71% of their total capacity, with a total storage of 127.921 billion cubic metres, marking a decline for the tenth consecutive week due to deficient rainfall affecting over 90% of the country since January 1. The Central Water Commission reported that while this level is higher than last year and the ten-year average, concerns are rising, particularly in Punjab, where the lone reservoir has dropped to nearly 20% capacity. Data from the India Meteorological Department indicates that 89% of districts received no rainfall, with only 3% experiencing deficient levels. In the northern region, reservoir storage is at 42%, while the eastern region stands at 67%. The western region shows a healthier 81% storage, and the southern region is at 73%. The IMD forecasts above-normal rainfall starting January 11, which may help stabilize reservoir levels.
Published: Jan 09 2025, 7 pmeznews.inIndia's steel imports surged over 20% year-on-year to 7.3 million tonnes (MT) in the first nine months of FY25, while exports plummeted by 25% to 3.6 MT, according to an internal Steel Ministry report accessed by BusinessLine. This trend has positioned India as a net importer of steel, with imports nearly double exports. Non-alloy steel imports rose 23% to 5.4 MT, while alloyed steel imports increased by 15% to nearly 2 MT. Conversely, non-alloy steel exports fell 27% to 3.1 MT. Despite a recent slowdown in imports and stable export figures, domestic steel consumption grew by 11.17% to 111.25 MT, with production reaching 107 MT, up 4% year-on-year. Officials noted that policy interventions, including quality standards for imports, are beginning to take effect, although the market remains volatile amid challenges in the Chinese economy.
Published: Jan 09 2025, 6 pmeznews.inWavar, an agri-tech firm, has announced a partnership with Krushi Sarthi, an organization renowned for its grassroots initiatives, to promote integrated pest management (IPM) practices in key agricultural regions. This collaboration aims to empower farmers by providing access to advanced IPM technologies, thereby reducing reliance on chemical pesticides and enhancing crop health. Sanjay Shirodkar, Co-Founder of Wavar, emphasized that this partnership marks a significant advancement in making sustainable pest management more accessible. Krushi Sarthi will facilitate the on-ground implementation of Wavar’s IPM solutions through knowledge-sharing and field training, ensuring that farmers benefit from sustainable practices. The initiative, dubbed ‘Har Gaon IPM,’ seeks to create substantial change within farming communities, ultimately improving agricultural outcomes across various hubs.
Published: Jan 09 2025, 5 pmeznews.inIndia's agricultural output, particularly rice and wheat, is expected to decline by 6-10% due to climate change, raising concerns over food security for its 1.4 billion population, 80% of whom rely on subsidized grains. The India Meteorological Department (IMD) warns that rising sea temperatures are forcing fish to migrate to cooler waters, adversely impacting the fishing community. Wheat production, which reached 113.29 million tonnes in 2023-24, and rice, at 137 million tonnes, are critical staples for the nation. Experts predict that by 2100, wheat yields could drop by 6-25%, while irrigated rice yields may decrease by 7% by 2050. Additionally, the frequency of Western Disturbances, vital for winter precipitation, is diminishing, leading to potential water shortages for billions reliant on Himalayan water sources. The year 2024 marked the warmest on record in India, with average temperatures rising significantly since 1901, highlighting the urgent need for climate resilience.
Published: Jan 09 2025, 3 pmeznews.inIndian exporters to Russia have been warned by the US and EU to scrutinize their shipments to avoid sanctions related to components that could support Moscow's military efforts in Ukraine. Officials from US and EU sanctions teams recently met with Indian industry representatives to discuss a list of 50 high-priority items that are prohibited for export, emphasizing that even civilian goods could attract sanctions if their components have military applications. The list includes critical electronic components and materials essential for manufacturing. Despite a significant increase in India's exports to Russia—up 35.41% to $4.26 billion in FY24—companies are urged to comply with stringent regulations to avoid severe penalties, including asset freezes. While some speculate that US pressure may ease with the upcoming Trump administration, other nations are expected to maintain strict oversight, necessitating caution among Indian exporters.
Published: Jan 09 2025, 2 pm
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