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India's sugar production has plummeted by 16.13% to 23.71 million tonnes (MT) for the 2024-25 season, according to the National Federation of Cooperative Sugar Factories (NFCSF). This decline poses significant challenges for the government's export policy, as only 0.15 MT of the 1 MT allocated for export by September 30 has been shipped, primarily due to high domestic prices. The NFCSF noted that the crushing season is set to conclude by the end of March, with mills in Uttar Pradesh operating until mid-April. Major sugar-producing states like Maharashtra and Uttar Pradesh have reported substantial drops in output, exacerbated by pest infestations and adverse weather conditions. The NFCSF has revised its total sugar output forecast for the season to 25.9 MT, down from 31.9 MT last year, highlighting a critical supply-demand mismatch as the industry grapples with lower-than-expected production figures. 
Published: Mar 17 2025, 6 pmeznews.inIndia's Foreign Secretary Vikram Misri has raised alarms over a significant budget cut for the Ministry of External Affairs, with allocations for 2025-26 slashed by over ₹10,000 crore, the largest reduction in recent years. The Parliamentary Standing Committee on external affairs highlighted that India currently lacks diplomatic missions in 41 countries, which undermines its growing global stature. Misri emphasized the need for increased funding for development assistance, human resources, and real estate to support India's diplomatic efforts. He noted that development partnerships generate goodwill and future diplomatic leverage, while adequate resources are essential for staffing and maintaining embassies. The Committee's report stressed the importance of establishing missions in countries with potential for trade, investment, and political engagement, underscoring the challenges posed by the ongoing budgetary discrepancies in meeting India's diplomatic objectives.
Published: Mar 17 2025, 9 pmeznews.inFinance Minister Nirmala Sitharaman has addressed the significant backlog in National Company Law Tribunal (NCLT) cases, revealing that as of December 31, 2024, there are 12,351 insolvency-related cases pending out of a total of 20,484. In a written response to the Lok Sabha, she attributed the delays to various factors, including case complexity, evidence requirements, and court stays. To expedite case resolution, the government is implementing measures such as an e-court initiative, enhancing infrastructure, and conducting capacity-building colloquiums. Additionally, Minister of State for Corporate Affairs Harsh Malhotra reported that 40,943 applications have been filed under the Insolvency and Bankruptcy Code (IBC), with 28,818 resolved prior to admission, amounting to approximately ₹10 lakh crore. He noted that 1,119 cases are in resolution, while 1,598 are in voluntary liquidation, and 1,983 cases remain in ongoing litigation.
Published: Mar 17 2025, 9 pmeznews.inIndia's advance tax collections for the fiscal year 2024-25 have surged over 14%, driven primarily by robust growth in personal income tax from non-corporate sectors, according to the Central Board of Direct Taxes (CBDT). As of March 16, net collections reached ₹21.27-lakh crore, achieving over 95% of the Revised Estimate of ₹22.37-lakh crore, with expectations to meet the target by the fiscal year's end. The rise in collections reflects a significant increase in incomes among businesses and professionals, alongside improved corporate profitability, with the Index of Industrial Production (IIP) expanding by 5% in January. Experts attribute this growth to enhanced compliance measures, including AI-driven monitoring by the Income Tax Department, which has minimized tax evasion. Analysts note a shift towards greater reliance on personal taxes, highlighting the effectiveness of digitization and improved tax awareness in bolstering revenue collection.
Published: Mar 17 2025, 9 pmeznews.inIndia is actively negotiating a bilateral trade agreement (BTA) with the United States, as Commerce Secretary Sunil Barthwal announced that the government is consulting domestic stakeholders to assess the implications of potential US tariffs. With President Donald Trump threatening reciprocal tariffs on countries with high import duties, including India, the discussions aim to establish "new, fair-trade terms" that could potentially double bilateral trade to $500 billion. Barthwal emphasized the multi-sectoral nature of the negotiations, which will address key issues for both nations. Recent meetings between Indian Commerce Minister Piyush Goyal and US officials have underscored the urgency of tariff reductions, particularly in agriculture. Currently, India's tariffs on US goods stand at 15.30%, significantly higher than the US's 3.83% on Indian products. The US was India's largest trading partner in FY24, with exports reaching $77.51 billion and imports at $42.19 billion.
Published: Mar 17 2025, 9 pmeznews.inIndia's goods exports fell by 10.85% year-on-year in February 2025, totaling $36.91 billion, marking the fourth consecutive month of decline amid US tariff threats, fluctuating petroleum prices, and sanctions impacting the gems and jewellery sector. Despite this downturn, the trade deficit narrowed to $14.05 billion, the lowest in over three years, as imports dropped 16.3% to $50.96 billion, driven by reduced gold and petroleum purchases. Commerce Secretary Sunil Barthwal expressed optimism about reaching $800 billion in combined goods and services exports for FY25. The US remained India's top export market, with shipments rising 10% to $7.1 billion, partly due to exporters expediting orders before potential tariffs take effect. The gems and jewellery sector saw a significant 20.74% decline in exports, attributed to sanctions on Russian diamonds. Economists noted that the narrowing trade deficit could lead to a current account surplus of approximately $5 billion in Q4 FY2025.
Published: Mar 17 2025, 8 pmeznews.inAs of December 2024, India has 32.89 crore active domestic LPG customers, served by 25,542 distributors, according to the Ministry of Petroleum & Natural Gas (MoPNG). Since 2016, the government has promoted the "Give It Up" campaign, encouraging consumers who can afford it to forgo subsidies; approximately 1.15 crore, or 3.5%, have opted out. The retail price for a 14.2 kg LPG cylinder in Delhi is ₹803, but beneficiaries of the Pradhan Mantri Ujjwala Yojana (PMUY) pay an effective price of ₹503 after a targeted subsidy. Despite a 63% rise in international LPG prices, the effective price for PMUY consumers has decreased by 44% since August 2023. India's LPG imports increased by 10.3% year-on-year to 1.82 million tonnes in January 2025, although there was a slight monthly decline, reflecting ongoing fluctuations in the global market.
Published: Mar 17 2025, 8 pmeznews.inHindustan Unilever Limited (HUL) is enhancing its beauty and personal care portfolio through the acquisition of a 90.5% stake in Uprising Science Private Ltd, a deal recently approved by the Competition Commission of India (CCI). HUL plans to acquire the remaining 9.5% over the next two years, aiming for full ownership. This strategic move aligns with HUL's goal to strengthen its position in the high-growth beauty sector, where it already boasts well-known brands like Lakmé and Dove. Uprising Science, which specializes in skincare, body care, baby care, and hair care products, complements HUL's existing offerings and is expected to foster synergies in innovation and distribution. As Indian consumers increasingly seek premium, science-backed personal care solutions, this acquisition positions HUL to capture a significant share of the expanding market, further solidifying its leadership in the competitive consumer goods landscape.
Published: Mar 17 2025, 8 pmeznews.inDuring the Raisina Dialogue 2025 in New Delhi, Indian Prime Minister Narendra Modi and New Zealand Prime Minister Christopher Luxon announced the launch of negotiations for a free trade agreement (FTA) aimed at enhancing bilateral trade and investment. Modi highlighted key sectors for cooperation, including dairy, food processing, pharmaceuticals, renewable energy, and critical minerals. The leaders also agreed to facilitate the mobility of professionals and skilled workers, addressing irregular migration, and to advance cooperation in digital payments. Additionally, a memorandum of understanding for defence cooperation was signed to strengthen bilateral ties. This marks a significant resumption of FTA talks after nearly a decade, previously stalled over dairy trade issues. In FY 2024, New Zealand ranked as India's 87th largest trading partner, with exports valued at $538 million and imports at $335 million, primarily in pharmaceuticals and mineral fuels.
Published: Mar 17 2025, 8 pmeznews.inCoffee growers in Karnataka, the largest coffee-producing state in India, are increasingly investing in irrigation infrastructure to prepare their farms for future challenges, particularly in light of erratic rainfall and record-high coffee prices. Pradeep Pooviah, a prominent coffee grower, is spending approximately ₹80,000 per acre on enhancements such as underground pipelines and sprinkler systems. Experts like Suryaprakash Rao from Jain Irrigation note a shift towards more durable HDPE pipes, while the use of rainwater harvesting and gravity irrigation is gaining traction. Despite these investments, agri-economist P.G. Chengappa warns that gross capital formation in the coffee sector remains low, urging growers to focus on processing facilities to capitalize on premium markets for washed and specialty coffee. As growers clear debts and reinvest, the sector is poised for a transformation, although infrastructure repairs from past rainfall damage will take several years.
Published: Mar 17 2025, 8 pmeznews.inGoa-based regional airline FLY91, which commenced operations on March 18, 2024, is set to expand its fleet from three to ten aircraft within a year, according to Managing Director Manoj Chacko. Currently operating a reduced schedule due to two planes being unavailable for maintenance and regulatory reasons, the airline plans to increase its daily flights from 12-16 to 24 by mid-May. FLY91 has successfully raised ₹250 crore in equity and maintains a debt-free status, allowing for future growth without additional fundraising. Despite facing challenges such as supply chain delays and competition from established carriers like IndiGo, FLY91 aims to enhance its route offerings, including new destinations like Solapur and Hubli. Chacko emphasized the importance of smart revenue management to navigate the competitive landscape, as the airline seeks to solidify its presence in the domestic air travel market.
Published: Mar 17 2025, 6 pm
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