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Pakistan's shipping crisis is poised to benefit India, particularly in the rice market, as Indian basmati prices have surged by 20% amid ongoing trade disputes. India has halted transshipments from Pakistani ports, leading to the suspension of direct shipping services and forcing companies to reroute through terminals in Colombo, Salalah, and Jebel Ali. This disruption has resulted in increased shipping costs, delays, and heightened insurance charges for vessels heading to Pakistan. As a consequence, Pakistan's economy, already struggling with a depreciating rupee, faces significant challenges in importing essential goods and exporting textiles and grains. The backlog of export containers at Pakistani terminals has exacerbated the situation, with delays affecting shipments of rice and other commodities. Meanwhile, Indian basmati rice prices have risen from around $850 to between $1,050 and $1,100 per tonne, giving India a competitive edge in the market. 
Published: May 22 2025, 8 pmeznews.inIndia is poised to open a significant portion of its government procurement market, valued at over $50 billion, to US firms, marking a notable shift in its trade policy. This move follows a recent free trade agreement with the UK, which also allows British companies access to select federal contracts. The Indian government, while negotiating a trade deal with the US, plans to gradually and reciprocally permit foreign firms to bid on federal projects, although state and local government contracts will remain off-limits. Currently, India's public procurement market is estimated at $700 billion to $750 billion annually, with a quarter reserved for small businesses. The US Trade Representative has previously highlighted challenges posed by India's restrictive procurement policies. Indian Trade Minister Piyush Goyal's recent visit to Washington aims to expedite these trade discussions, with both nations targeting an interim agreement by early July.
Published: May 23 2025, 1 pmeznews.inIn a recent meeting with Finance Minister Nirmala Sitharaman, Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu raised concerns over the impact of Turkish apple imports on local growers, urging for a universal increase in import duties to safeguard the interests of Indian apple farmers. The Chief Minister also discussed various budgetary and financial matters requiring the Union Government's attention, including a request to raise the borrowing limit for Himachal and other special category states by at least two percent. Sukhu highlighted the state government's initiatives aimed at improving fiscal management and enhancing financial resources, despite facing significant financial challenges. The discussions reflect ongoing efforts to address the economic needs of Himachal Pradesh and support its agricultural sector.
Published: May 23 2025, 12 pmeznews.inThe Marine Products Export Development Authority (MPEDA) is set to host the Seafood Expo Bharat (SEB) from July 1 to 3 at the Chennai Trade Centre, aiming to highlight India's seafood export potential and advancements in aquaculture. The event will gather seafood exporters, importers, farmers, and equipment manufacturers, providing a platform for showcasing innovative technologies and fostering international business connections. A key feature of SEB is the Reverse Buyer-Seller Meet (RBSM), designed to facilitate direct interactions between 48 global buyers from 12 countries and Indian exporters. To bolster buyer confidence, MPEDA plans a field visit to Andhra Pradesh, where attendees can tour state-of-the-art processing plants and shrimp farms. The expo will serve as a vital networking opportunity for stakeholders across the seafood sector, including hatchery operators, processors, and technical experts, to discuss industry developments and forge trade relationships.
Published: May 23 2025, 12 pmeznews.inUnion Commerce and Industry Minister Piyush Goyal described his recent meeting with US Commerce Secretary Howard Lutnick in Washington as "constructive," focusing on a "mutually beneficial" bilateral trade agreement (BTA). Goyal emphasized the importance of enhancing opportunities for Indian businesses, despite the challenging backdrop of US President Donald Trump's aggressive tariff policies. The discussions come amid a 90-day pause on reciprocal tariffs, initiated by Trump, which has placed India at a disadvantage with a 26% tariff compared to higher rates for countries like Vietnam and Bangladesh. Goyal's meetings with Lutnick and US Trade Representative Jamieson Greer aim to finalize an interim trade agreement before the July 8 deadline, while also advancing negotiations for a comprehensive BTA by Fall 2025. The US is pushing for significant tariff reductions on various products, alongside commitments on digital trade and market access for specific goods.
Published: May 23 2025, 12 pmeznews.inThe US Department of Agriculture (USDA) has projected a significant increase in India's sugar production, estimating a rise of over 25% to 35.3 million tonnes for the 2025-26 marketing year, up from 28 million tonnes the previous year. This rebound is attributed to favourable weather conditions and an expanded cultivation area. Alongside India, Brazil is also expected to see a boost in sugar output, reaching a record 44.7 million tonnes, while Thailand anticipates a 2% increase to 10.3 million tonnes. However, the USDA forecasts a decline in sugar production in the European Union and the US, with EU output expected to drop by 9% to 15 million tonnes due to reduced sugar beet acreage. Overall, global sugar production is projected to rise to 189.3 million tonnes, while consumption is set to increase to 177.92 million tonnes, despite lower exports from the EU and Thailand.
Published: May 23 2025, 12 pmeznews.inThe airspace over the Andaman and Nicobar Islands will be closed for three hours tomorrow, from 7 AM to 10 AM IST, as part of a high-altitude weapon test conducted by the tri-services command. This follows a similar closure today, during which a successful test was carried out. A senior official from the Andaman and Nicobar Command confirmed that a Notice to Airmen (NOTAM) was issued on May 16, prohibiting civilian flights in the area on May 23 and 24. The restricted airspace spans a corridor of approximately 500 km and will be closed from 01:30 to 04:30 UTC. The ANC, India's only tri-services command, has conducted similar tests in the past, indicating that this is a routine practice.
Published: May 23 2025, 12 pmeznews.inA low-pressure system over the east-central Arabian Sea has shifted closer to the Konkan-Goa coast, raising concerns about potential landfall along the west coast. The India Meteorological Department (IMD) has classified the system as 'well-marked,' just shy of being termed a depression, but has delayed its intensification due to a change in track that may inhibit moisture supply necessary for further development. Global models suggest the system could move eastward into interior Maharashtra, although a return to sea remains a possibility. Meanwhile, conditions are becoming favorable for the monsoon's onset over Kerala and its advance into other regions, including parts of the Bay of Bengal. The IMD is also monitoring a new low-pressure area expected to form over the Bay of Bengal in the coming days, which could enhance monsoon activity across East-Central and North-West India. Rainfall along the Karnataka-Goa coast has been relatively subdued.
Published: May 23 2025, 11 ameznews.inIn a notable shift within the Marine Products Export Development Authority (MPEDA), Ram Mohan M K has been appointed as the new Director. An alumnus of the Central Marine Fisheries Research Institute's (CMFRI) postgraduate programme in mariculture, he also holds a PhD from ICAR–CIFE in Mumbai. Since joining MPEDA in 2003, Mohan has played pivotal roles in marketing, quality assurance, and infrastructure development, and has served as the Resident Director in Tokyo. His extensive experience is further underscored by his positions on the boards of MIDCON, Seafood Park India Ltd., and Lakshadweep Development Corporation Ltd. This leadership change is expected to enhance MPEDA's strategic direction in the marine products sector. The announcement was made public on May 23, 2025.
Published: May 23 2025, 11 ameznews.inIndia's fisheries sector could see production soar from 18 million tonnes to 40 million tonnes by 2047, contingent on key policy reforms from both state and central governments, according to JK Jena, Deputy Director-General at the Indian Council of Agricultural Research (ICAR). Currently growing at 9% annually—far surpassing the global average of 2.5%—the sector has benefited from increased investment, scientific advancements, and supportive government initiatives. Jena noted the introduction of 50 fish seed species, expanding farming options beyond traditional carps. In marine fisheries, production could rise from nearly 4 million tonnes to 5.3 million tonnes through improved techniques, while deep-sea resources remain underutilized. On-vessel processing could enhance the quality of high-value tuna, which often degrades before reaching shore. Additionally, selective breeding could boost carp production significantly, with a target of 12 million tonnes in the next 8-10 years.
Published: May 23 2025, 8 ameznews.inAdani Ports and Special Economic Zone (APSEZ), part of the Adani Group, announced plans to raise up to ₹6,000 crore through Non-Convertible Debentures (NCDs) following an in-principle approval from its Board of Directors. The funds generated from this initiative will be allocated towards capital expenditure, refinancing existing debt, and supporting general corporate purposes, as detailed in a stock exchange filing. The NCDs are expected to be issued in one or more tranches on a private placement basis and will be listed on the stock exchanges. This move underscores APSEZ's strategy to bolster its financial position and enhance operational capabilities amid a dynamic market environment.
Published: May 22 2025, 10 pm
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