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India'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. 
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Mar 17 2025, 8 pmeznews.inIndia's SpiceExtra.in, the country's sole digital platform dedicated to dry chilli, is expanding its reach with new chapters in key regions including Guntur, Khammam, Warangal, and Madhya Pradesh. Launched in 2017 by Hampali Traders, a 54-year-old firm based in Hubballi, the platform aims to create a comprehensive data network over the next 3-5 years to support research and development in the dry chilli sector. Previously focused on Karnataka, SpiceExtra provides vital information on prices, crop surveys, and branding, addressing a significant data gap in the industry. Director of Innovation Basavaraj Hampali highlighted the platform's collaboration with agronomists, software engineers, and government agencies to develop its digital product, "Hukum," which integrates various data sources. The platform's data is crucial for spices and oleoresin companies, as well as seed and fertilizer firms, aiding in purchase decisions and production strategies.
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Mar 18 2025, 5 pmeznews.inIn a recent Lok Sabha session, Union Agriculture Minister Shivraj Singh Chouhan warned that climate change is expected to significantly increase rainfall, leading to soil degradation and a rise in salinity-affected areas across India. According to studies by the Indian Council of Agricultural Research (ICAR), kharif rainfall could rise by up to 18.9% by 2080, resulting in an estimated soil loss of 10 tonnes per hectare annually by 2050. Without adaptation measures, rain-fed rice yields may drop by 20% by 2050, while wheat yields could decline by nearly 40% by 2080. Additionally, Union Minister of State for Agriculture Ramnath Thakur reported that over 43 million Farmer IDs have been created under the AgriStack initiative, which aims to digitize farmer data for better access to benefits. The National Agriculture Market (e-NAM) has also onboarded 4,392 farmer producer organizations as of February 2025.
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Mar 18 2025, 5 pmeznews.inThe National Consortium of Regional Federations of Rubber Producers Societies (NCRFRPS) has called on the Indian government to permit the cultivation of genetically modified (GM) rubber, emphasizing its potential benefits for farmers in traditional rubber-growing regions. However, Union Minister of State for Commerce and Industry, Jitin Prasada, clarified in the Lok Sabha that state approval is essential before any confined field trials can commence, noting that trials have already begun in Assam and Tripura, while Kerala has yet to grant permission. In a related development, the Centre has allocated ₹37 crore to Karnataka for managing diseases in arecanut plantations, as the state leads national production with 10 lakh tonnes. Despite inquiries about establishing an Arecanut Board for better processing and marketing, the government has no current plans, although various research institutions continue to support the sector's development.
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Mar 18 2025, 5 pmeznews.inIn a significant move to protect the integrity of Devgad Alphonso (Hapus) mangoes, the Devgad Taluka Mango Growers Cooperative Society has implemented a Tamper-Proof UID Seal (TP Seal) system. This new regulation mandates that all genuine Devgad Hapus mangoes must display a TP Seal sticker to be legally marketed as such. The initiative addresses the alarming issue of counterfeit mangoes, with over 80% of those sold as Devgad Hapus reportedly originating from outside the region, undermining local farmers and their livelihoods. The TP Seal features a unique alphanumeric code that consumers can verify via WhatsApp, ensuring authenticity and enhancing consumer confidence. This system not only curbs misrepresentation but also aims to preserve the esteemed reputation of the Devgad Alphonso mango, known for its distinct aroma and taste, which has been cultivated in the Sindhudurg district for over a century.
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Mar 18 2025, 4 pmeznews.inThe Aluminium Association of India (AAI) has called on the government to extend the Remission of Duties or Taxes on Export Products (RoDTEP) Scheme for aluminium-producing units within Advance Authorisation (AA) holders, Export Oriented Units (EOUs), and Special Economic Zones (SEZs). Currently, these export-oriented units face a tax burden of up to 10% of production costs, which could undermine their global competitiveness. The RoDTEP rates for aluminium smelters were last updated in March 2024, with an extension granted in September, but the scheme lapsed in February 2025. As India stands as the second-largest aluminium producer globally, with significant investments in domestic capacity, the AAI warns that failure to extend the scheme could lead to production cuts, job losses, and hindered growth amid global trade uncertainties. The association emphasizes that maintaining the RoDTEP scheme is crucial for bolstering India's export competitiveness and encouraging further investment in the aluminium sector.
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Mar 18 2025, 4 pmeznews.inIndia's oilmeal exports have seen a significant decline of 12.39% during the April-February period of the 2024-25 fiscal year, dropping to 39.33 lakh tonnes from 44.90 lakh tonnes in the previous year, according to the Solvent Extractors’ Association of India (SEA). The downturn is attributed to a lack of demand for rapeseed meal in international markets and an oversupply of soyabean meal globally. Exports of rapeseed meal fell by 17.53%, while castorseed meal exports decreased by 21.44%. The price of rapeseed meal plummeted from $270 to $190 per tonne, while soyameal prices also dropped from $380 to $360. Despite these challenges, soyabean meal exports remained stable overall, with Germany and France being notable importers. Major importers of Indian oilmeals include South Korea, Vietnam, Thailand, and Bangladesh, although their import volumes have also decreased compared to the previous year.
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Mar 18 2025, 2 pmeznews.inIndia's Power Ministry has announced plans to enhance its electricity generation capacity, aiming to add a minimum of 80 gigawatts (GW) of coal-based power by fiscal year 2032 to meet rising demand. The ministry projects peak power demand will increase by 7% year-on-year, reaching 289 GW by April 2026, with significant consumption expected during the warmer months. Currently, India's installed generation capacity stands at 466 GW, having transformed the nation from a power deficit to a power sufficient status since 2014. To support future demand, the ministry is also focusing on renewable energy, with 153,920 MW of capacity under construction, including solar, wind, and hybrid power. Additionally, 13,997.5 MW of hydroelectric projects and 7,300 MW of nuclear capacity are underway, with substantial additions expected by FY27. The government is confident in its ability to meet these demands through optimal resource management and strategic planning.
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Mar 18 2025, 1 pmeznews.inThe Civil Aviation Ministry is set to discuss the future of Alliance Air, which has reported cumulative losses of ₹1,633 crore between FY22 and FY24, with a loss of approximately ₹535 crore in the first ten months of FY 2025. Currently, the airline operates only ten of its 21 aircraft due to supply chain issues, resulting in a 23% reduction in daily flights compared to last year. Despite a ₹600 crore equity infusion from the government last year to address outstanding payments, Alliance Air continues to face financial challenges, including debts to maintenance and repair providers. The government is planning roadshows in May to attract investor interest in a potential stake sale of Alliance Air and other former Air India subsidiaries. The airline's CEO, Rambabu CH, stated that they are working on repairs and aim to have 15 operational aircraft by September.
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Mar 18 2025, 1 pmeznews.inThe APEC Climate Centre in South Korea has projected a generally normal to above-normal monsoon season for India from April to September 2025, although regional variations are expected. While most of the country is likely to experience adequate rainfall, areas in West India and parts of the South Peninsula may face slight deficiencies, particularly during the crucial months of July and August. Specifically, April to June is anticipated to bring normal rainfall, with excess expected in regions like South Gujarat and parts of Maharashtra, while Jammu & Kashmir and Himachal Pradesh may see below-normal levels. In July, traditionally the wettest month, deficiencies are forecasted for Tamil Nadu and Gujarat. August may also witness below-normal rainfall in the South Peninsula and Gujarat, but September could see a reversal, with normal rainfall expected across much of the country, except for slight deficits in Karnataka and Jammu & Kashmir.
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Mar 18 2025, 12 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.
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Mar 17 2025, 9 pm
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