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The International Energy Agency (IEA) has revised its global oil demand growth forecast, projecting an increase of 650,000 barrels per day (bpd) for the remainder of 2025, a significant drop from the 990,000 bpd recorded in early 2025. This slowdown is attributed to economic uncertainties and the rising popularity of electric vehicles. The IEA now anticipates an average demand growth of 740,000 bpd for the year, a slight upward adjustment due to improved economic conditions and lower oil prices. In contrast, supply growth is expected to rise by nearly 400,000 bpd to 1.6 million bpd in 2025, primarily driven by increased output from Saudi Arabia, which is positioned to fill the gap left by declining US shale production. The IEA also noted that a surplus in supply could lead to higher oil storage levels, reversing last year's decline. 
Published: May 15 2025, 5 pmeznews.inAs India confronts the escalating challenges of climate change, parametric insurance is emerging as a vital tool for rural communities, addressing the shortcomings of traditional insurance models. Extreme weather events, such as droughts and floods, have severely impacted agricultural yields and rural incomes, necessitating diverse income streams for households. Traditional insurance schemes, like the Pradhan Mantri Fasal Bima Yojna, often suffer from delayed payouts and complex claims processes, leaving farmers vulnerable. In contrast, parametric insurance offers swift, predetermined payouts based on specific environmental triggers, enhancing financial resilience and risk mitigation. Successful initiatives, such as Nagaland's parametric insurance for excessive rainfall, highlight its potential. However, challenges remain, including high distribution costs and low farmer awareness. With regulatory support and technological advancements, parametric insurance could significantly bolster the financial stability of rural communities, making it a crucial component of India's agricultural risk management strategy.
Published: Jul 05 2025, 9 ameznews.inBasmati rice exports, a cornerstone of India's agricultural trade, are increasingly threatened by geopolitical tensions in the Middle East, particularly involving Iran, Israel, and Palestine. Iran, the largest importer of Indian Basmati, significantly influences global demand and pricing; stability in Iran leads to price surges, while conflict results in decreased demand and market instability. This volatility has forced Indian exporters, especially from Punjab and Haryana, to navigate unpredictable price fluctuations driven by distant geopolitical events. Additionally, Indian export regulations, such as the Minimum Export Price (MEP), have complicated trade, prompting some buyers to seek alternatives from Pakistan. Meanwhile, stringent EU food safety standards pose further challenges for Indian exporters. In response, industry players are diversifying their markets and supply chains, exploring new opportunities in Africa and Southeast Asia, and investing in logistics and compliance to adapt to the evolving geopolitical landscape.
Published: Jul 05 2025, 9 ameznews.inIndia's Union Commerce Minister Piyush Goyal has signaled that an interim trade deal with the United States is unlikely before the July 9 deadline for reciprocal tariffs, emphasizing that India does not negotiate under pressure. Following a week of discussions in Washington, Goyal stated that India prioritizes its national interests and will only agree to a trade deal when it is fully matured and beneficial. The US, under President Donald Trump, has indicated that countries without a deal will face increased tariffs, which could range from 10% to 70%. Negotiations have stalled due to US demands for broader market access, particularly in sensitive sectors like agriculture and dairy, without offering equivalent concessions to India. Goyal reiterated that any agreement must safeguard India's food security and farmers' interests while also addressing India's need for access to labor-intensive sectors such as textiles and leather.
Published: Jul 04 2025, 9 pmeznews.inThe Information & Broadcasting Ministry is set to amend guidelines for audience measurement agencies, aiming to eliminate cross-holding restrictions and facilitate the entry of multiple players in the sector. This initiative is seen as a progressive step towards fostering innovation, particularly as viewership shifts increasingly to digital platforms. While some experts welcome the move for potentially enhancing competition and improving data reliability, concerns have been raised about conflicts of interest and the risk of undermining the credibility of existing systems, particularly the Broadcast Audience Research Council (BARC), which currently dominates TV ratings. Industry voices emphasize the need for transparency and trust in any new rating systems, cautioning against the dilution of BARC's established credibility. Advocates argue that the amendments could lead to better reporting of Television Rating Points (TRPs) and improved measurement for streaming services, addressing long-standing issues of opacity in the current ratings landscape.
Published: Jul 04 2025, 9 pmeznews.inAn Air India flight from Bengaluru to Delhi experienced a two-hour delay early Friday after a pilot collapsed in the cockpit of the Airbus A320. The airline confirmed the medical emergency, stating that the pilot was unable to operate flight AI2414 and was promptly taken to a local hospital, where he is now reported to be stable and under medical supervision. The flight, originally scheduled to depart at 3:05 am, eventually took off after the airline arranged for an additional pilot to take over. Air India emphasized that their immediate priority is to support the pilot and his family during this time, ensuring his swift recovery. The incident highlights the airline's commitment to passenger safety and the well-being of its crew.
Published: Jul 04 2025, 9 pmeznews.inOn March 26, 2023, the United States implemented a 25% tariff on imports of passenger vehicles, light trucks, and certain automobile parts from India, a move described as a safeguard measure. In response, India has notified the World Trade Organization (WTO) of its intention to impose retaliatory duties on US goods, potentially amounting to $723.75 million, which aligns with the US's tariff collection on Indian auto exports. India's notification highlights that the US tariffs could impact $2.895 billion in annual imports from India. While India has not yet decided to impose these retaliatory duties, it reserves the right to do so, citing a lack of consultations under WTO rules and asserting that the US measures violate international trade agreements. This development follows India's earlier notification regarding retaliatory duties on US steel and aluminum tariffs, which had been raised to 50%.
Published: Jul 04 2025, 9 pmeznews.inIndia's alcohol beverage industry is projected to experience a 6% volume growth in FY26, with per capita consumption estimated at 2.5 litres of pure alcohol, up from 2.3 litres in FY23. The Indian Made Foreign Liquor (IMFL) segment is expected to grow by 5-6%, reaching around 464 million cases, while the beer segment is anticipated to expand at a faster rate of 8%, hitting approximately 412 million cases. According to Crisil Ratings, the industry, dominated by spirits which account for 65-70% of total revenue, is set to grow 8-10% to ₹5.3 lakh crore, driven by rising volumes and premiumisation trends. Key states for IMFL consumption include Karnataka, Tamil Nadu, and Maharashtra, which together represent 40-45% of total sales. Despite rising input costs, particularly for extra neutral alcohol and barley, the industry's profitability is expected to improve due to higher realisations and ongoing volume growth.
Published: Jul 04 2025, 8 pmeznews.inThe Compound Livestock Feed Manufacturers Association (CLFMA) of India has launched its inaugural consumer awareness campaign aimed at promoting the nutritional benefits of chicken and shrimp. This initiative seeks to enhance domestic consumption of these products, particularly shrimp, which is predominantly exported to markets like the US and Vietnam. CLFMA Chairman Divya Kumar Gulati emphasized the campaign's focus on educating the public about the protein, fat, carbohydrate, and cholesterol content of these foods through social media platforms such as Facebook, Instagram, and LinkedIn. The campaign also aims to dispel myths surrounding these products and engage nutritionists and influencers to spread accurate information. With the Indian poultry sector growing at an annual rate of 8-10%, this effort comes at a crucial time, as consumption can fluctuate due to religious practices and disease outbreaks. The campaign is expected to bolster domestic shrimp consumption, which is primarily export-driven.
Published: Jul 04 2025, 8 pmeznews.inWest Bengal is intensifying efforts to boost its fish production, aiming to reduce reliance on imports from states like Andhra Pradesh, Tamil Nadu, Odisha, Gujarat, and Punjab, from which it typically imports around 100,000 tonnes annually. State Fisheries Minister Biplab Roy Chowdhury expressed optimism that within a year, the state will not only meet its own fish needs but also export surplus to other states and international markets. In the 2024-25 period, West Bengal exported 178,000 tonnes of fish, up from 162,000 tonnes the previous year, with a total production of 2.375 million tonnes. The government is focusing on harvesting larger fish and has initiated training programs for fish farming. Additionally, the "Abhay Pukur" scheme has successfully procured 33 rare fish species. Minister Pradip Mazumdar highlighted the growing demand for West Bengal's seafood, particularly in lucrative markets like the US, underscoring the potential for profitable investment in the sector.
Published: Jul 04 2025, 6 pmeznews.inAt a recent FICCI seminar, senior Indian Army officials underscored the urgent need for indigenous drone development to reduce reliance on Chinese components, particularly in light of ongoing military operations. Major General Rajiv Chibber announced that the Indian Army plans to issue $250 million in Request for Proposals (RFPs) over the next four months to enhance its firepower and air defense capabilities, building on a previous $60 billion in contracts for various unmanned aerial systems. However, he cautioned about the risks associated with dependence on imported critical components, which could lead to counterfeit parts infiltrating UAVs. To address these challenges, a comprehensive drone framework is expected by September, aimed at incentivizing local production and streamlining testing processes. Lt Gen Rahul R Singh emphasized the importance of timely equipment delivery and quality, particularly given India's complex geopolitical landscape, which includes adversaries like Pakistan, supported by China.
Published: Jul 04 2025, 7 pm
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