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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.inShivraj Singh Chouhan, India's Union Minister for Agriculture and Farmers’ Welfare, announced plans to visit Karnataka with a team of scientists to assess and enhance arecanut cultivation in the state. During a high-level meeting in New Delhi, he emphasized the crop's cultural significance and its use in Ayurvedic medicine, while addressing concerns raised by a World Health Organization report that has caused confusion about arecanut. Chouhan assured that scientific teams are investigating diseases affecting arecanut plants and that the government is considering compensation for farmers suffering losses due to viral infections. The meeting also tackled issues like illegal imports and price disparities. India, the world's largest producer of arecanuts, accounted for 63% of global production in 2023-24, with Karnataka leading in output. The total market value of arecanuts in India is approximately ₹58,664 crore, supporting around six million livelihoods.
Published: Aug 21 2025, 10 pmeznews.inThe domestic airline industry in India is projected to see a decline in operating profit, with estimates suggesting a drop of 11-14% to ₹20,000-21,000 crore in FY26, down from ₹23,500 crore last fiscal, according to ratings agency Crisil. This downturn is attributed to muted demand and declining yields, particularly in the first quarter, which saw passenger traffic growth slow to 5.2% year-on-year. Factors such as border tensions and a significant aircraft mishap have further impacted demand. However, Crisil anticipates a rebound in the second half of the fiscal year, with traffic growth expected to reach 7-9%. While fleet additions will be constrained by slow aircraft deliveries, operational fleets are set to expand as groundings decrease. Despite challenges, the long-term outlook for the Indian aviation sector remains positive, encouraging ongoing capital expenditure.
Published: Aug 21 2025, 8 pmeznews.inThe Reserve Bank of India (RBI) has released a discussion paper on its flexible inflation targeting (FIT) framework, which has been in place since 2016 and has proven effective over the past nine years, particularly during the challenges posed by the Covid pandemic. The paper invites public feedback by September 18 on whether monetary policy should focus on headline or core inflation, given the volatility of food and fuel prices, which significantly impact the consumer price index (CPI). The RBI is also assessing the appropriateness of its 4% inflation target and the current tolerance band of +/- 2%. Historical data indicates that since adopting the FIT, India's average inflation has decreased to 4.9%, down from 6.8% prior to its implementation. The RBI emphasizes that no major country has abandoned inflation targeting, suggesting a need for ongoing refinement to adapt to changing economic conditions.
Published: Aug 21 2025, 9 pmeznews.inShivraj Singh Chouhan, India's Union Minister of Agriculture and Farmers Welfare, has called on ministry officials to prioritize domestic products over imports, emphasizing the importance of supporting the Swadeshi movement to bolster the economy and create jobs. Speaking at the 'Karmchari Sankalp Sammelan' in New Delhi, he proposed renaming the event to 'Karmayogi Sankalp Sammeelan' to reflect a commitment to nation-building. Chouhan highlighted the significant role of the Ministries of Agriculture and Rural Development in national growth, citing the 'Viksit Krishi Sankalp Abhiyan' for Kharif 2025 as a historic initiative that engaged 2,170 teams of scientists with farmers. He acknowledged the challenges in increasing production of pulses, oilseeds, and cotton while promoting natural farming. Additionally, he noted the success of the 'Lakhpati Didis' initiative, which has empowered nearly 2.8 crore women, urging officials to embrace their roles in public service to effect meaningful change.
Published: Aug 21 2025, 9 pmeznews.inThe Central Association of Private Security Industry (CAPSI), representing a workforce of over 8.5 million primarily from micro, small, and medium enterprises (MSMEs), has urged Prime Minister Narendra Modi to reconsider the 18% GST imposed on their sector. In a letter dated August 19, CAPSI Chairman Kunwar Vikram Singh expressed frustration over the Reverse Charge Mechanism (RCM), which requires recipients, rather than suppliers, to pay GST. He highlighted that while proprietary and partnership firms benefit from RCM, 'body corporate' entities in the private security industry do not, creating an unfair disparity. Singh noted that this situation has persisted since the GST Council's decision in December 2018, which was not reflected in the subsequent notification, adversely affecting the economic viability of the sector. He emphasized that the denial of RCM burdens MSMEs with upfront GST payments, exacerbating cash flow issues and operational risks.
Published: Aug 21 2025, 8 pmeznews.inDuring a meeting in Moscow on August 21, 2025, Indian External Affairs Minister S. Jaishankar urged Russia to significantly increase imports from India, particularly in pharmaceuticals, agriculture, and textiles, to address a substantial trade imbalance. At a joint press conference with Russian Foreign Minister Sergey Lavrov, Jaishankar emphasized the need to eliminate non-tariff barriers to facilitate this trade expansion. His visit comes amid rising tensions with the U.S., which recently imposed tariffs on India, including sanctions related to its oil purchases from Russia. Despite a surge in bilateral trade from $10.1 billion pre-pandemic to $68.7 billion in FY25, the trade deficit has ballooned to $59 billion, primarily due to India's oil imports. Jaishankar highlighted the urgency of diversifying trade and ensuring long-term cooperation in sectors like fertilizers and skilled labor, particularly in IT and engineering, to sustain growth in bilateral relations.
Published: Aug 21 2025, 8 pmeznews.inIndian seafood exporters are diversifying their markets in response to uncertainty over US tariffs, which have historically dominated their trade. Shaji Baby John, chairman of Kings Infra Ventures, noted that countries like Vietnam, China, and the Middle East are emerging as significant markets for Indian seafood, with Vietnam particularly increasing its imports for processing. The US tariffs, while challenging, are seen as an opportunity to expand and improve quality, prompting a shift towards domestic consumption and new international markets. Rajamanohar Somasundaram, CEO of AquaConnect, emphasized the need to prioritize regions like the EU and East Asia to reduce reliance on the US. Despite a slow US market, shipments to the country increased in early 2023. The industry is also seeking government support to stabilize during this transition, advocating for initiatives to integrate shrimp into institutional menus to boost domestic consumption and absorb surplus production.
Published: Aug 21 2025, 7 pmeznews.inData from the Reserve Bank of India reveals that international travel constitutes the largest segment of outward remittances, accounting for 60% of the total in FY25, with over $16.9 billion remitted for travel purposes. In response, global tourism boards are intensifying efforts to attract Indian travelers. Tourism Australia launched its AU $130 million "Come and say G’day" campaign in Mumbai, targeting high-spending tourists, while Thailand announced a scheme offering free domestic flights to 200,000 international visitors, including Indians, to promote lesser-known destinations. With over 450,000 Indians visiting Australia in the past year and Thailand welcoming 1.3 million Indian tourists, the market potential is significant. Experts note that rising disposable incomes and improved air connectivity are driving this trend, with Indians increasingly seeking unique travel experiences, particularly in Southeast Asia and Northern Europe. The momentum is expected to continue, especially during the festive season.
Published: Aug 21 2025, 7 pmeznews.inIn Bengaluru on Thursday, the Karnataka Agriculture Department signed a memorandum of understanding (MoU) with Bharat Electronics Ltd (BEL) to develop a technology-driven, data analytics-based centralized dashboard for the Raitha Kare Kendra integrated call centre. This initiative aims to enhance agricultural advisory services by integrating key datasets, including crop information, weather data, and government schemes. BEL will customize its Equinox platform for agricultural applications and provide technical support for data integration, while the Agriculture Department will supply relevant information on government policies. The project will unfold in two phases: a one-year pilot followed by a four-year full-scale implementation. This collaboration is expected to make agricultural services more accessible and tailored to the needs of farmers across Karnataka, leveraging smart technology to deliver real-time, efficient solutions to the farming community.
Published: Aug 21 2025, 7 pmeznews.inShankar Chaudhary, Chairman of Banas Dairy, Asia's largest milk cooperative, has accused the US government of pressuring India to import milk and food grains, claiming that American dairy practices involve feeding cattle a "non-vegetarian diet" to enhance milk production. Speaking at the cooperative's 57th Annual General Meeting in Gujarat, Chaudhary warned that if this trend continues, India's dairy industry could collapse within 2-5 years. He praised Prime Minister Narendra Modi for resisting US pressure to allow such imports, stating that the Prime Minister's stance protects local farmers. The AGM also announced plans for India's largest milk powder plant in Banaskantha and a new processing facility in Uttar Pradesh, aiming to boost production capacity. Banas Dairy reported a turnover of ₹21,295 crore for 2024-25 and plans to increase this to ₹23,761 crore in the current fiscal year, alongside a rise in milk procurement prices.
Published: Aug 21 2025, 6 pm
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