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India's oil imports from Russia reached approximately 1.63 million barrels per day last year, accounting for over a third of its total imports. However, Indian refiners are now facing increased pressure from the US and EU, which are intensifying efforts to curb Russian energy flows. This shift follows criticism from former President Donald Trump regarding India's purchases of Russian energy and weapons, coinciding with a proposed 25% tariff on Indian exports. In response, state-owned refiners are urgently seeking alternative crude sources, issuing tenders for prompt deliveries, a departure from their usual mid-to-late October schedules. Bharat Petroleum has also turned to Middle Eastern and West African crude. The EU's impending ban on diesel imports made from Russian crude further complicates matters, leaving Indian processors seeking clarity from the government on how these geopolitical developments will impact their operations amid rising prices and diminishing Russian supplies. 
Published: Jul 31 2025, 10 ameznews.inThe Indian tourism ministry is urging states to establish city-level bureaus aimed at attracting major global events, inspired by successful models in Dubai and Singapore. Suman Billa, Director General of the Ministry of Tourism, emphasized that these bureaus would foster collaboration among government officials, hotels, and stakeholders, enhancing India's competitiveness in the Meetings, Incentives, Conferences, and Exhibitions (MICE) sector. Despite recent initiatives, including the 2021 infrastructure status for convention centres and a national MICE strategy launched in 2022, India holds only 5% of the global $850 billion MICE market. The proposed bureaus would streamline hospitality offerings and potentially receive financial backing from the Centre. Additionally, industry leaders are advocating for simplified visa processes to bolster India's appeal as a MICE destination, with suggestions to phase out the e-conference visa and enhance the e-business visa for MICE-related travel.
Published: Jul 31 2025, 10 pmeznews.inIndian food products are reportedly being relabelled as originating from Pakistan and Bangladesh to circumvent a newly imposed 25% tariff by the US, which is expected to raise prices for popular items like Sona Masuri rice. Consumers in the Indian diaspora have noted price increases in grocery stores, with some fearing that the tariff will lead to reduced consumption of Indian rice varieties. Industry experts, however, suggest that the US market is not a primary destination for Indian exports, with significant trade occurring in West Asia, Africa, and Europe. Vishal Gupta of Jindal Rice Mills indicated that while the tariff may temporarily affect margins, Indian rice remains competitive compared to other countries facing higher rates. Despite potential short-term turbulence, stakeholders believe the long-term impact on business will be minimal, as there are few substitutes for Indian rice varieties in the market.
Published: Jul 31 2025, 9 pmeznews.inIn 2024, the Indian Farmers Fertiliser Cooperative (IFFCO) solidified its position as the leading print advertiser, commanding a substantial 65.6% share of print ad expenditures, as reported by ad-tech agency Excellent Publicity. The agriculture sector allocated 66% of its total advertising budget to print media, with the North Zone contributing 35.7% and the South Zone 30.8%. The report highlighted that 99.4% of print ads were in colour, with 74.3% occupying premium front-page slots. Meanwhile, digital advertising surged by 18% compared to 2022, with Jain Irrigation System leading the charge, while television ad spends plummeted by 53%. Radio advertising, however, saw a 38% increase, with Tirth Agro Technology capturing 30% of the market. Vaishal Dalal, co-founder of Excellent Publicity, noted the agriculture sector's strong preference for traditional media, while also acknowledging the growing importance of digital strategies for engaging modern farmers.
Published: Jul 31 2025, 8 pmeznews.inThe MS Swaminathan Research Foundation, in partnership with Social Alpha, has announced the launch of the Agritech Grand Challenge, offering a grant of ₹1 crore to foster innovative solutions in agriculture and rural development. This initiative will be unveiled at the MS Swaminathan International Centenary Conference in New Delhi, which commemorates the 100th birth anniversary of Professor MS Swaminathan, a pivotal figure in India's Green Revolution. Prime Minister Narendra Modi will inaugurate the conference, themed “Evergreen Revolution- The Pathway to Bio Happiness.” Soumya Swaminathan, Chairperson of the Foundation, emphasized that the challenge aims to address pressing issues such as climate change and rural distress through science-led, equitable, and sustainable solutions. The initiative seeks to support innovations that are beneficial to both the environment and impoverished communities, reflecting the legacy and vision of Professor Swaminathan.
Published: Jul 31 2025, 8 pmeznews.inThe latest data from the Central Water Commission (CWC) reveals that India's 161 major reservoirs are currently filled to over two-thirds of their capacity, with storage levels reaching 126.482 billion cubic metres (BCM), or 69.31% of the total 182.461 BCM capacity. This marks a significant increase of 50 percentage points compared to both last year and the average over the past decade, largely attributed to a six per cent surplus in rainfall from the South-West monsoon. While the India Meteorological Department forecasts above-normal rainfall for the remainder of the season, 31% of the country's districts experienced deficient rainfall. Nevertheless, the outlook for the kharif season appears promising, with a 5% increase in acreage and healthy reservoir levels. Notably, seven reservoirs are at full capacity, with states like Goa, Tamil Nadu, and Mizoram reporting over 95% storage.
Published: Jul 31 2025, 8 pmeznews.inDuring the Monsoon Session of Parliament, Union Minister of Commerce and Industry Piyush Goyal addressed the reciprocal tariffs imposed by the US, asserting that India would take all necessary measures to protect its national interests. This response followed US President Donald Trump's threats of a 25% tariff on Indian goods and derogatory remarks about India's economy and its ties with Russia. Goyal emphasized the government's commitment to safeguarding the welfare of farmers, workers, and exporters while continuing negotiations for a bilateral trade agreement (BTA) with the US, despite the looming tariffs set for August 1. He noted that the implications of the situation are under review, with the Ministry of Commerce engaging stakeholders for feedback. Government sources indicated that negotiations would persist, aiming for a mutually beneficial agreement by Fall 2025, while India remains firm on not conceding to US demands that could adversely affect its industries.
Published: Jul 31 2025, 8 pmeznews.inThe Indian Sugar and Bio-energy Manufacturers Association (ISMA) has projected a significant increase in sugar production for the 2025-26 season, estimating a rise of 18% to 34.90 million tonnes (mt). ISMA has urged the government to allow the export of 2 mt and allocate 5 mt for ethanol diversion, as domestic consumption is expected to reach 28.4 mt. Despite an anticipated carry-forward stock of 5.2 mt, industry leaders warn that the projected opening stock of 4.5 to 5 mt on October 1, 2025, may be insufficient to meet festive demand. ISMA President Gautam Goel emphasized the need for timely government action to prevent potential issues in the sector. The association's estimates are preliminary, with a more accurate forecast expected in September, as various factors, including monsoon conditions, will influence final production outcomes.
Published: Jul 31 2025, 8 pmeznews.inIndia's capital expenditure surged to ₹2.75 lakh crore, accounting for 25% of the FY26 Budget Estimate during the first quarter (Q1) of the fiscal year, according to the Controller General of Accounts (CGA). This figure represents a significant increase of over 50% compared to the same period last year, when spending was curtailed due to the Model Code of Conduct during general elections. The Union Budget allocated over ₹11.21 lakh crore for FY26 capital expenditure, with the Department of Telecommunication leading the spending at 34% of its budget. The fiscal deficit for the central government reached 17.9% of the full-year target, amounting to over ₹2.80 lakh crore. Despite a 2% contraction in net tax revenues, non-tax revenues rose by 33%, bolstered by higher-than-expected dividends from the RBI. Economists suggest that the robust capital expenditure could positively influence GDP growth in the upcoming quarter.
Published: Jul 31 2025, 7 pmeznews.inIn August, the Indian Meteorological Department (IMD) forecasts that average minimum temperatures across most of the country will be normal to above normal, with some areas in northwest India experiencing below normal temperatures. The South-West Monsoon has delivered a six per cent surplus rainfall during June and July, totaling 474.3 mm, surpassing the normal of 445.8 mm. While rainfall is expected to be normal to above normal in August and September, certain regions, including parts of Central India and Kerala, may see below normal precipitation. IMD Director-General Mrutyunjay Mohapatra noted that the distribution of rainfall has been generally good, benefiting kharif crop sowing, which is up by five per cent compared to last year. The IMD is also enhancing its rainfall monitoring capabilities, expanding its network of rain gauge stations to over 6,700. Neutral ENSO and IOD conditions are anticipated to persist throughout the monsoon season.
Published: Jul 31 2025, 7 pmeznews.inThe Seafood Exporters Association of India has expressed alarm over the US increasing tariffs on seafood exports from 10% to 25%, alongside existing countervailing duties of 5.77% and anti-dumping measures. The association asserts that exporters will not absorb these costs, instead passing them on to US buyers. K.N. Raghavan, Secretary-General of the association, highlighted the uneven playing field created by these tariffs and the uncertainty surrounding potential additional duties, which complicates trade relations. Analysts predict that the tariff hike could lead to a 15-25% drop in farm gate prices for shrimp, potentially halting shipments to the US temporarily. Despite these challenges, India remains a strong player in the shrimp market, with May exports reaching 78,752 tonnes, just shy of record levels. The association has called for government support to navigate these difficulties while welcoming the recent Free Trade Agreement with the UK as a new opportunity.
Published: Jul 31 2025, 7 pm
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