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Job creation in India’s services sector accelerated in April, marking the 35th consecutive month of workforce growth, according to S&P Global's latest report. The Purchasing Managers’ Index (PMI) for services rose to 58.7, up from 58.5 in March, driven by a surge in export orders, which grew at their fastest rate since July 2024. The services sector, which constitutes over 54% of the Indian economy, saw companies enhance operational capacity to meet rising client demand. While input prices increased at the slowest pace in six months, firms raised their average selling prices to offset higher costs, leading to improved profit margins. Despite this positive trend, business confidence among service providers dipped to its lowest level in nearly two years, as competition concerns tempered optimism about future growth, according to HSBC's Chief India Economist, Pranjul Bhandari. 
Published: May 06 2025, 11 ameznews.inIndia'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.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 pmeznews.inThe India Meteorological Department (IMD) has announced that the south-west monsoon is expected to advance into the south Andaman Sea, parts of the south-east Bay of Bengal, and the Nicobar Islands by May 13, earlier than usual. This marks the initial phase of the four-month monsoon season, which typically progresses to Sri Lanka and the south-west coast of India, particularly Kerala, in the following weeks. However, an early arrival in the Bay does not guarantee an early onset in Kerala. Global forecasts suggest that western disturbances will remain active over North-West India into the second week of May, potentially delaying the monsoon's progress over mainland India. Meanwhile, models indicate a low-pressure area may develop over the Andaman Sea, with Myanmar's monsoon expected to arrive slightly ahead of schedule between May 16 and June 5. The IMD predicts strengthening south-westerly winds in the Bay from May 13, although the formation of a low-pressure system is uncertain.
Published: May 06 2025, 1 pmeznews.inIndia's solar photovoltaic (PV) market is poised for significant growth, with the supporting component sector, including inverters and batteries, expected to double in value from approximately $3 billion in 2024 to $7 billion by 2029, according to a report by market intelligence firm 1Lattice. This surge, driven by India's ambitious target of achieving 500 gigawatts of non-fossil fuel capacity by 2030, highlights the critical role of balance of system (BoS) components in the renewable energy transition. Enabling initiatives like PM-KUSUM and the Grid Connected Rooftop Solar Programme are facilitating solar adoption across both rural and urban areas, fostering innovation and investment in the BoS sector. The global BoS market is also projected to grow significantly, from $60 billion in 2024 to $100 billion by 2029. With an expected $250 billion in investments in India's renewable energy sector, the demand for BoS components is set to rise sharply, bolstering local manufacturing and export opportunities.
Published: May 06 2025, 12 pmeznews.inThe Indian Institute of Spices Research is set to host a national symposium titled ‘Recent Trends in Omics in Plant Biology’ from May 20 to 22 in Kozhikode, supported by the Department of Biotechnology. The event aims to unite scientists, academicians, research scholars, and industry representatives to discuss advancements in Omics technologies and their applications in plant science and agriculture. Attendees can expect plenary lectures, technical presentations, and panel discussions covering topics such as genomics, transcriptomics, proteomics, and the integration of artificial intelligence in plant research. Additionally, a pre-symposium workshop on May 20 will offer hands-on training in various omics tools and data analysis techniques. The symposium is open to professionals from the agri-biotech and bioinformatics sectors, as well as postgraduate and doctoral scholars. For more details, interested participants can visit the official IISR website.
Published: May 06 2025, 12 pmeznews.inJSW Tuticorin Multipurpose Terminal Pvt Ltd, a subsidiary of JSW Infrastructure Ltd, has commenced interim commercial operations for bulk cargo at Thoothukudi’s VOC Port following the completion of dredging. The terminal, featuring a draft of 14.20 metres and a quay length of 306 metres, can accommodate vessels up to 95,000 deadweight tonnes and is equipped with two 120-tonne mobile cranes for handling dry-bulk cargo such as coal and limestone. The facility, which reclaimed 11 hectares of land for cargo storage, aims to alleviate congestion caused by the conversion of the previous high-draft berth into a container terminal. A concession agreement signed in August 2024 allows for the mechanisation of North Cargo Berth-III, with a capacity of 7 million tonnes per annum. The project, with a total outlay of ₹677 crore, is expected to enhance operational efficiency while facing challenges from customer concentration and competition from nearby ports.
Published: May 06 2025, 11 am
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