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India, a leading global producer of bananas, holds a 25.4% share of worldwide production but only accounts for 1.2% of global exports, highlighting a significant production-export mismatch. Despite a tenfold increase in banana exports from $25 million in 2010 to $250.6 million in 2023, the country struggles to capitalize on its agricultural potential. The Indian government aims to boost agricultural exports to $100 billion by 2030, with the Agricultural and Processed Food Products Export Development Authority (APEDA) targeting a doubling of its contribution. A recent report by the Indian Council for Research on International Economic Relations (ICRIER) emphasizes the need for diversification beyond staple crops, focusing initially on bananas, mangoes, and potatoes. Recommendations include establishing integrated export hubs, enhancing logistics, and implementing best practices in crop handling to improve quality and reduce losses, thereby unlocking the potential of high-value fresh produce in the global market. 
Published: Jul 09 2025, 12 pmeznews.inThe Production Linked Incentive (PLI) scheme for textiles is reshaping India's manufacturing landscape by offering financial incentives over five years to boost production in Manmade Fibre (MMF) apparel, fabrics, and technical textiles. Recently, the Textiles Ministry expanded the scheme's scope by adding more eligible products and approved early disbursement of ₹54 crore. With a total budget of ₹10,683 crore, the scheme has already attracted investments of ₹7,343 crore, generating a turnover of ₹4,648 crore and exports worth ₹538 crore. Beneficiaries like Madura Industrial Textiles and Global IGN highlight the scheme's role in facilitating technology transfer, innovation, and employment generation. Technical textiles, comprising 57% of the selected applications, are a key focus, enhancing India's competitiveness against established exporters like China and Vietnam. The initiative aims to position India as a global textiles hub by promoting high-tech products essential for various industries.
Published: Jul 09 2025, 4 pmeznews.inA Jaguar fighter jet of the Indian Air Force (IAF) crashed in an agricultural field near Bhanoda village in Churu district, Rajasthan, on Wednesday, July 9, 2025, around 1:25 PM. Official sources confirmed that both pilots tragically lost their lives in the incident, with human remains discovered at the crash site. Local residents quickly arrived to witness the burning debris, prompting a swift response from police, fire brigade, and ambulance services from nearby Rajaldesar and Ratangarh. The IAF later issued a statement expressing deep regret over the loss of life, confirming that the aircraft was on a routine training mission at the time of the accident. Fortunately, no damage to civilian property has been reported. The area has been secured as authorities continue to investigate the circumstances surrounding the crash. Further updates are expected as the situation develops.
Published: Jul 09 2025, 3 pmeznews.inThe Cochin Oil Merchants Association (COMA) has urged the Indian government to lift restrictions on importing copra and coconuts due to a significant shortage impacting the coconut oil industry. In a letter addressed to the Prime Minister and Commerce Minister, COMA highlighted the severe decline in domestic coconut production, which has led to soaring prices—₹387 per litre for coconut oil and ₹257 per kg for copra—affecting consumers in Kerala, the only state that uses coconut oil for edible purposes. Association president Thalath Mahmood also called for a temporary halt on exports of coconut products to safeguard local oil mills, which have seen over 100,000 job losses. Furthermore, COMA emphasized the need for government support to boost coconut production, as existing farms are either unproductive or abandoned due to high labor costs and lack of profitability.
Published: Jul 09 2025, 3 pmeznews.inIndia's power ministry is pressing coal producers to enhance fuel quality amid persistent complaints from the power sector regarding substandard shipments. A newly established panel has proposed measures including testing coal quality upon delivery and employing auger sampling to assess deeper layers of stockpiles for accuracy. Currently, coal is sampled at loading sites, but power stations often receive lower-quality coal that can contain impurities, leading to increased costs for consumers as utilities must purchase more to compensate for the reduced calorific value. This situation exacerbates pressure on the already strained railway network, particularly during peak demand periods. Industry experts, such as Rupesh Sankhe from Elara Capital, emphasize that Coal India must address these long-standing issues as the market dynamics shift from a sellers' to a buyers' market, necessitating greater responsiveness to customer needs.
Published: Jul 09 2025, 2 pmeznews.inIn June, global investments in gold exchange-traded funds (ETFs) surged to $38 billion, rebounding from a $1.8 billion outflow in May, marking the strongest first half in five years, according to the World Gold Council (WGC). India led the charge in Asia, driven by rising geopolitical tensions in the Middle East, while North America accounted for the majority of inflows, totaling $21 billion for the first half. Despite a 25% increase in gold prices this year, money managers reduced their long positions by 28%, indicating a potential end to the gold rush that began in 2019. European investments also turned positive, with the UK leading in June. The WGC noted that ongoing fiscal uncertainties and inflation concerns are likely to sustain demand for gold ETFs in the near term, as trading volumes reached their highest levels since 2018, averaging $329 billion a day in the first half of the year.
Published: Jul 09 2025, 1 pmeznews.inThe Indian government has established new financial norms for nuclear power plants, with those commissioned before April 1, 2022, guaranteed a Return on Equity (RoE) of 15.5%. For projects initiated after this date, operators can choose between a constant RoE of 15.5% throughout the plant's operational life or a variable RoE that adjusts over the duration of the Power Purchase Agreement (PPA). The Department of Atomic Energy (DAE) outlined these tariff norms, which are determined in consultation with the Central Electricity Authority (CEA). Future pressurised heavy water reactors (PHWRs) will follow a mandated debt-equity ratio of 70:30, while other projects will have their ratios assessed individually. Additionally, the operational standards require a realistic capacity assessment by the Atomic Energy Commission, with plant load factors for existing nuclear stations ranging from 68.5% to 80%. The norms also eliminate any stabilisation period for atomic power stations.
Published: Jul 09 2025, 12 pmeznews.inGreen Aero, a deep tech startup incubated at IIT Delhi, has secured $1.6 million in seed funding led by _pi_ Ventures, with contributions from Antler. The investment will support the development and testing of hydrogen-powered, high-efficiency engines for aerospace, naval, and supersonic applications, as the company aims to commercialise its first small-category engine within the next year. Founded in late 2023 by Dr. Prithwish Kundu, a former research scientist at the US Department of Energy, Green Aero seeks to make India self-reliant in propulsion technology while promoting sustainable aviation. The company recently achieved a milestone by firing the country’s first hydrogen-powered aero engine core, dubbed ‘The Blue Dragon’. With a vision to deliver double the efficiency of current models, Green Aero is also exploring green hydrogen-based engines as a zero-emission alternative to traditional aircraft propulsion, while pushing the boundaries of supersonic propulsion technology.
Published: Jul 09 2025, 11 ameznews.inTATA AutoComp Systems and Škoda Group have unveiled a joint venture to produce railway propulsion systems and components in India, supported by a multi-million-euro investment. This collaboration aims to bolster the burgeoning Indian railway and mobility markets, with TATA AutoComp seeking to diversify its portfolio and enhance its capabilities in the railway and metro sectors. The new entity will manufacture converters, drives, and auxiliary converters for medium high-speed and regional trains, as well as metros and light rail vehicles, with operations based in India. TATA AutoComp Vice-Chairman Arvind Goel emphasized that the partnership will introduce advanced electrical propulsion systems, while Škoda Group CEO Petr Novotny highlighted the venture as a means to bring proven European technology and expertise to the Indian market. The initiative is expected to yield significant economic and technological benefits for the region.
Published: Jul 09 2025, 11 ameznews.inThe global rice market is experiencing a downturn, with the Food and Agriculture Organisation's (FAO) rice price index nearing a five-year low, currently at 105.5 points—down 22% year-on-year. Prices for Thailand's 5% broken white rice have fallen below $400 per tonne, reflecting subdued demand amid high inventories in African countries. However, projections for rice production in the 2025-26 season are optimistic, driven by favourable weather, particularly in India, which is expected to achieve its largest harvest on record. The Indian monsoon has arrived early, contributing to a 15% surplus in rainfall and a 7.4% increase in paddy area. Despite these positive forecasts, the market remains bearish, with analysts noting a lack of demand and downward revisions to price expectations, influenced by India's recent easing of export restrictions. The USDA and BMI also report increased production forecasts for Bangladesh, Pakistan, and Vietnam, offsetting declines in Iraq and the US.
Published: Jul 09 2025, 9 am
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