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India's life expectancy has surged from 58.6 years in 1990 to a record 72 years in 2023, reflecting significant advancements in health and well-being, according to the UN Development Programme (UNDP). In its latest Human Development Report, India climbed three places to rank 130 out of 193 countries, now on par with Bangladesh. The report highlights an increase in India's Human Development Index (HDI) value from 0.676 in 2022 to 0.685 in 2023, indicating progress towards the high human development category. Key improvements in education and national income have contributed to this growth, with children now expected to attend school for an average of 13 years. However, the report also notes persistent inequalities, particularly in income and gender. Additionally, India is emerging as a global AI powerhouse, with a notable increase in domestic talent retention among AI researchers, which is expected to drive productivity and job creation. 
Published: May 06 2025, 3 pmeznews.inIndia and the UK have finalized a significant multi-billion-pound Free Trade Agreement (FTA), which is expected to enhance the British economy by £4.8 billion annually by 2040. The deal, confirmed by Prime Ministers Narendra Modi and Keir Starmer, covers 90% of tariff lines, including substantial reductions on Scotch whisky and automotive exports. Tariffs on Scotch will be halved from 150% to 75%, while automotive tariffs will drop from 100% to 10% under a quota. The agreement, which awaits legal formalization and parliamentary approval in the UK, aims to boost bilateral trade, currently valued at £41 billion, by an additional £25.5 billion. Indian Commerce Minister Piyush Goyal and UK Trade Secretary Jonathan Reynolds highlighted the deal's potential to create jobs and stimulate growth across various sectors. Additionally, India seeks to address professional visa regulations and social security contributions in the agreement.
Published: May 06 2025, 7 pmeznews.inUttar Pradesh, despite having the highest number of GST Identification Numbers (GSTINs) in India, reports the lowest per GSTIN collection among major states, according to recent data. For April 2025, the average GST collection per assessee by the Centre stands at approximately ₹1.4 lakh, compared to around ₹1.14 lakh for states. Haryana and Maharashtra lead in per GSTIN collections, with Haryana exceeding ₹3 lakh. Experts suggest that disparities in revenue sharing, particularly between inter-State and intra-State supplies, contribute to this issue. Central enforcement mechanisms are deemed more efficient than state systems, which often lack the necessary technological infrastructure. Recommendations for improvement include enhancing technology and data analytics within the GST Network, expanding e-invoicing, and reforming the Integrated GST apportionment formula. The GST Council is expected to address these concerns in its upcoming meeting, aiming for equitable treatment of assesses across both central and state administrations.
Published: May 06 2025, 7 pmeznews.inIndian pepper prices are currently at a premium in international markets, trading at $8,650 per tonne, significantly higher than competitors such as Sri Lanka ($7,200), Vietnam ($7,100), Brazil ($7,000), and Indonesia ($7,500). This disparity has led to a ₹25 per kg decline in domestic prices over the past fortnight, with the Kochi terminal market reporting prices of ₹695 for ungarbled and ₹715 for garbled varieties. The influx of Sri Lankan pepper, which is priced between ₹675-690, has prompted masala manufacturers to seek cheaper imports to meet production needs. Kishore Shamji, President of the Indian Pepper and Spice Trade Association, noted that buyers are hesitant to purchase amid falling prices, while farmers in Tamil Nadu are releasing stocks. With Sri Lankan imports expected to rise further, particularly as the harvest begins in June, India's production for the year is projected at around 75,000 tonnes.
Published: May 06 2025, 3 pmeznews.inIndia is projected to have 123 million electric vehicles (EVs) on the road by 2032, according to a report by the India Energy Storage Alliance and Customised Energy Solutions. This ambitious target aligns with the country's goal of achieving net zero emissions by 2070 and aims for 30% EV penetration by 2030. The growth is driven by government initiatives like the FAME-II scheme, which incentivizes electric two-wheelers, three-wheelers, and four-wheelers, alongside subsidies for charging infrastructure. The report highlights that by 2024, electric two and three-wheelers will account for over 93% of the EV stock, while personal electric four-wheelers are emerging as a key driver for home charging. To support this growth, the number of charging points will need to increase significantly, from 76,000 in 2024 to between 0.9 million and 2.1 million by 2032, with installed capacity rising from 1.3 GW to 23 GW.
Published: May 06 2025, 4 pmeznews.inDCM Shriram, a diversified player in the sugar, chemicals, and fertiliser sectors, reported a 35% increase in Profit After Tax (PAT) for FY2024-25, reaching ₹604 crore, up from ₹447 crore in FY24, driven by robust growth in its pesticides, chemicals, and vinyl segments. In a joint statement, Chairman Ajay Shriram and Vice Chairman Vikram Shriram highlighted the company's focus on research-driven products and digital engagement in its Shriram Farm Solutions division. Despite volatile global caustic prices, domestic demand for caustic soda has improved, contributing to a better cost structure. The company anticipates challenges from global economic uncertainties and tariff disputes affecting supply chains. DCM Shriram's consolidated net revenue rose 11% to ₹12,077 crore, with significant contributions from chemicals and farm solutions. The sugar and ethanol business remains stable, while the company is expanding its Fenesta brand into new markets.
Published: May 06 2025, 3 pmeznews.inThe Nut and Dry Fruit Council of India (NDFC-I) has called on the Indian government to establish an air corridor for the import of nuts and dry fruits from Afghanistan, following the closure of the border with Pakistan due to escalating tensions after a terrorist attack in Kashmir. NDFC-I President Gunjan Jain highlighted that Afghanistan is a major supplier of dried fruits, including figs, raisins, and apricots, with India importing around 20,000 tonnes annually. The current border situation is expected to drive up prices, which have already surged by 15%. Jain emphasized that rerouting shipments through Iranian ports like Chabahar or Bandar Abbas poses challenges due to payment issues linked to US sanctions. He urged the government to consider bearing the costs of an air corridor to facilitate timely access to these essential products, especially with the festival season approaching.
Published: May 06 2025, 3 pmeznews.inThe Indian Council of Agricultural Research (ICAR) has urged agricultural universities in India to adopt global best practices to enhance educational quality and address farmers' challenges. In a policy paper, ICAR highlighted the need for increased investment in research and education, emphasizing the importance of aligning with international standards to meet the evolving demands of the agricultural sector. Key recommendations include promoting entrepreneurship, fostering collaborations, and focusing on industry-relevant research and technology commercialization. The paper identifies issues such as outdated curricula and inadequate infrastructure as barriers to quality education. ICAR advocates for a phased implementation of reforms, including flexible student transfer, interdisciplinary approaches, and innovative teaching methods, to align with the National Education Policy 2020. By adopting these practices, ICAR believes agricultural universities can empower rural communities, boost farm incomes, and enhance India's food system resilience.
Published: May 06 2025, 1 pmeznews.inMoody's Ratings has revised India's GDP growth forecast for 2025 down to 6.3% from 6.5%, citing global economic slowdowns driven by US policy uncertainty and trade restrictions. In its Global Macro Outlook, Moody's highlighted geopolitical tensions, particularly between India and Pakistan, as potential risks to growth. While maintaining a 6.5% projection for 2026, the agency noted that rising costs for investors and businesses could hinder economic activity. Global growth projections have also been lowered for the US and China, with the US expected to grow by just 1% in 2025, and China at 3.8%. Moody's emphasized that ongoing trade tensions and financial market volatility could further dampen global trade and investment, impacting the G-20 economies. Recent escalations in geopolitical conflicts, including a terrorist attack in Jammu & Kashmir, underscore the fragility of the current economic landscape.
Published: May 06 2025, 1 pmeznews.inIndia's diesel exports are projected to plummet to their lowest level in over a decade, with around 1.15 million metric tons shipped in April, a significant decline from March's 2.83 million tons. This drop is attributed to Reliance Industries, which reduced refining output for maintenance amid strong domestic demand. The April figures, the lowest since February 2012, have led to tighter supplies in Asia and Europe, pushing spot gasoil premiums to their highest in over three months. Reliance's diesel exports fell to 800,000 tons, while Mangalore Refinery and Petrochemicals managed to sell only one cargo, focusing instead on domestic sales. Despite expectations of a rebound to nearly 2 million tons in May as Reliance resumes production, maintenance at MRPL's crude unit may limit overall exports. Official export figures for April are set to be released in late May.
Published: May 06 2025, 1 pm
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