eznews.in
India is emerging as a significant growth market for steel, according to a recent Jefferies report, which highlights the country as the only large nation to report substantial volume growth in major commodities from 2019 to 2024. While global steel production declined by 1%, India's output surged by 33%. The report notes that India is one of the few countries consistently showing growth in carbon steel, stainless steel, coal, and aluminium, with carbon and stainless steel consumption growing at a compound annual growth rate (CAGR) of 7-8%. Despite facing pricing pressures in late 2024 due to falling Chinese prices and increased imports, the Indian government responded by imposing a 12% safeguard duty on flat steel imports, leading to a rebound in domestic prices. Jefferies projects that Indian steel prices will average between ₹52,000 and ₹53,000 per tonne in FY26 and FY27, maintaining a positive outlook for the sector amid a sluggish global commodities market. 
Published: May 30 2025, 9 ameznews.inForeign investment in Indian markets surged to a record high in May 2025, with net foreign portfolio investment (FPI) inflows reaching ₹19,860 crore, marking the month as the best-performing of the year, according to the National Securities Depository Ltd (NSDL). During the week of May 26-30, foreign investors maintained their buying momentum, contributing a net inflow of ₹6,024.77 crore, despite a slight outflow of ₹1,758.23 crore on Friday. However, overall FPI for 2025 remains negative, with net outflows totaling ₹92,491 crore from January to May. Analysts attribute the May rebound to a weaker US dollar and a more favorable outlook for the Indian stock market, suggesting a potential shift in foreign investor sentiment. Despite a cautious start to the year, the positive trend in May could signal a reversal if global conditions stabilize. On the last trading day of May, the Sensex and Nifty 50 both closed lower amid mixed global cues.
Published: May 31 2025, 12 pmeznews.inThe Indian government has approved an additional tax devolution instalment of ₹81,735 crore to states, set to be released on June 2, 2025. This amount is supplementary to the regular monthly instalment of the same sum, scheduled for release on June 10, 2025. The finance ministry emphasized that this move aligns with the principles of cooperative federalism and the vision of achieving 'Viksit Bharat' by 2047. The additional funds are expected to enhance states' capital spending, support development and welfare initiatives, and provide resources for priority projects. Currently, 41% of the taxes collected by the central government are devolved to states in instalments throughout the fiscal year, underscoring the government's commitment to empowering state-level governance and development.
Published: May 31 2025, 12 pmeznews.inUnion Finance Minister Nirmala Sitharaman met with Asian Development Bank (ADB) President Masato Kanda in New Delhi, where Kanda announced the bank's commitment to provide up to $4.5 billion in sovereign lending to India annually. This funding aims to support Prime Minister Narendra Modi's Viksit Bharat 2047 vision, which focuses on urban transformation, private sector development, and enhancing India's manufacturing capabilities. Kanda highlighted ADB's readiness to expedite large-scale projects, including solar rooftop initiatives to promote clean energy. Additionally, at Sitharaman's request, ADB will intensify its efforts in fostering integrated rural prosperity by transforming food systems and creating jobs to build resilient communities. Kanda emphasized that the partnership would leverage global expertise and innovative financing to ensure sustainable progress across India's cities and villages by 2047.
Published: May 31 2025, 12 pmeznews.inThe monsoon remains stalled across several regions in India, including Mumbai and parts of Maharashtra, Telangana, Odisha, and West Bengal, as a well-marked low-pressure area weakened into a 'low' over north-east Assam. The India Meteorological Department (IMD) forecasts widespread rainfall in North-East India over the next week, with isolated heavy rainfall expected in West Bengal, Sikkim, Assam, and Meghalaya. An orange warning has been issued for districts in Kerala, Lakshadweep, West Bengal, Tripura, Assam, and Arunachal Pradesh due to severe weather conditions. In the South, isolated heavy rainfall is anticipated in Coastal Karnataka and Kerala. Professor Anjal Prakash from the Indian School of Business noted that projected above-normal rainfall could alleviate intense summer heat, although some regions, particularly in the North-East, may experience below-normal rainfall, impacting agriculture. He emphasized the need for timely dissemination of forecasts to farmers to maximize the benefits of the monsoon.
Published: May 31 2025, 11 ameznews.inAir India Express is set to launch daily direct flights between Bengaluru and Kathmandu starting June 1, enhancing its recent expansion into short-haul international leisure destinations like Bangkok and Phuket. The airline's Managing Director, Aloke Singh, announced that bookings are now open on their website and other major platforms, with inaugural fares beginning at ₹8,000 for Xpress Lite and ₹8,500 for Xpress Value. Flights will depart Bengaluru at 5.05 am and return from Kathmandu at 9.05 am. This new route facilitates convenient one-stop connections to Kathmandu from 20 Indian cities, including Delhi, Hyderabad, and Pune, as well as from international locations such as Abu Dhabi and Dammam. Air India Express currently operates over 450 weekly flights to 31 destinations from Bengaluru, further solidifying its presence in the region.
Published: May 31 2025, 11 ameznews.inHeavy monsoon rains in Kerala have led to severe flooding, prompting the evacuation of hundreds from low-lying areas in districts such as Kannur and Kasaragod. As swollen rivers overflowed, roads were submerged, and many residents were forced to seek refuge on the upper floors of their homes. In Kasaragod, the Madhuvahini River inundated roads and houses, while nearby Kozhikode and Kannur also faced significant threats from rising waters. Local residents have prepared wooden and fiber boats for potential evacuations, fearing further displacement. Authorities have established 46 relief camps in Kottayam, housing over 1,100 individuals, and 26 camps in Alappuzha, where 19 homes were reported destroyed in a single day. The Indian Meteorological Department forecasts continued moderate rainfall and strong winds across several districts, raising concerns about further flooding and damage.
Published: May 31 2025, 11 ameznews.inThe voluntary carbon market experienced a significant decline, dropping from nearly $2 billion in 2021 to $723 million in 2023, a 61% decrease attributed to buyer concerns over credit quality. Carbon credit volumes also halved, from 253.8 MtCO₂e in 2022 to 110.8 MtCO₂e in 2023, despite average prices remaining around $6.53 per tonne. This market correction presents an opportunity for smallholder farmers in rural India, where 146 million farms, primarily under two hectares, could generate substantial carbon credits. Initiatives like agroforestry cooperatives in Andhra Pradesh and clean energy projects in Maharashtra and Odisha are paving the way for farmers to earn carbon revenues. However, challenges such as high verification costs, delayed payouts, and the need for bundled services could hinder growth. The future of carbon credits in rural India hinges on equitable scaling and innovative financing solutions that empower farmers.
Published: May 31 2025, 10 ameznews.inIndia's economy demonstrated robust growth in the fourth quarter of FY25, expanding by 7.4%, primarily fueled by a significant 12.7% increase in net indirect taxes, according to a report from the State Bank of India (SBI). This unexpected surge in GDP was bolstered by strong tax collections, with gross GST revenue reaching Rs 1.96 lakh crore in January and March, reflecting year-on-year increases of 12.3% and 9.9%, respectively. The services sector led the growth, achieving a 7.3% rise, particularly in public administration and financial services. SBI forecasts that India will maintain its status as the fastest-growing major economy in FY26, with projected GDP growth between 6.3% and 6.5%. The report highlights strong macroeconomic fundamentals and rising household savings as key factors supporting this growth trajectory, while also indicating that inflationary pressures are unlikely in the coming year.
Published: May 31 2025, 9 ameznews.inThe agri-food sector is increasingly prioritizing sustainability, with Environmental, Social, and Governance (ESG) architecture emerging as a vital framework for operationalizing these goals. While discussions often revolve around broad ideals like reducing emissions and ensuring fair treatment of farmers, actionable strategies are essential for real change. ESG-driven architecture integrates data analytics, technology, and governance mechanisms to provide a structured approach that connects ESG principles with daily business operations. Companies can adopt this framework by investing in precision agriculture technologies, consolidating ESG data across their supply chains, and engaging stakeholders effectively. This not only enhances transparency and investor confidence but also minimizes risks associated with climate change and resource scarcity. Ultimately, businesses that embed ESG principles into their core operations are better positioned for long-term success in a world increasingly focused on sustainability.
Published: May 31 2025, 9 ameznews.inIFB Agro Industries Ltd has announced its board's approval for the acquisition of Cargill India's entire commercial shrimp and freshwater fish feed business, a strategic decision aimed at enhancing its aqua feed operations. The deal, structured as a slump sale, encompasses Cargill's manufacturing facilities located in Vijayawada and Rajahmundry, along with associated assets, feed formulations, business contracts, and employee resources. The transaction is contingent upon the finalization of a Business Transfer Agreement and is anticipated to conclude by July 31, 2025. While the payment will be made in cash, the specific financial details will be revealed in the final agreement. This acquisition aligns with IFB Agro's strategy to expand its footprint in the aqua feed sector, further solidifying its position in the industry. Cargill India, established in 1996, is a significant player in the Indian animal nutrition market, also involved in grain, oilseed, and food ingredients.
Published: May 31 2025, 9 am
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact