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India's engineering goods exports saw a slight decline of 0.82% year-on-year in May 2025, totaling $9.89 billion, primarily due to geopolitical tensions in West Asia and a higher statistical base, according to EEPC India. Notably, exports to key markets such as the UAE, Saudi Arabia, and Turkey fell significantly, while shipments to the US and EU increased. Pankaj Chadha, Chairman of EEPC India, attributed the downturn to rising geopolitical risks affecting logistics. The export of aluminium and related products faced stiff competition from the ASEAN region, contributing to declines in metals like zinc and lead, as well as a staggering 85% drop in aircraft and spacecraft exports. Despite these challenges, engineering exports to the US rose by 4.6% to $1.74 billion, while cumulative exports for April-May 2025 grew by 4.77% to $19.40 billion. 
Published: Jun 26 2025, 6 pmeznews.inThe World Trade Organization (WTO) reported a rise in its goods trade barometer to 103.5 in early 2025, up from 102.8 in March, indicating a strong uptick in global trade as importers rushed to make purchases ahead of expected higher tariffs from the US. However, a decline in the new export orders index to 97.9 suggests that this growth may not be sustainable. The barometer, which tracks merchandise trade trends, indicates that values above 100 reflect above-trend trade volumes. While world merchandise trade volume growth slowed in late 2024, a rebound is anticipated in early 2025. The WTO's outlook for 2025 projects stable trade growth of 2.7% under low-tariff conditions, but warns of potential contraction due to trade policy uncertainties, particularly concerning US tariffs. India is currently negotiating with the US to secure a trade pact by July 9, aiming for a more comprehensive agreement by Fall 2025.
Published: Jun 26 2025, 10 pmeznews.inThe Indian negotiating team is currently in Washington, D.C., engaging in discussions with U.S. officials regarding a bilateral trade agreement (BTA) ahead of a critical July 9 deadline, when a 90-day pause on U.S. reciprocal tariffs is set to expire. Sources indicate that while efforts are underway to secure an interim deal to avert these tariffs, negotiations are challenging, with the U.S. maintaining a stringent list of demands, including the dismantling of tariffs and non-tariff barriers on various goods, particularly in agriculture and dairy. India faces difficulties in committing to lower import duties on sensitive agricultural products and other items like automobiles, unless the U.S. reciprocates with concessions. The U.S. has yet to clarify its stance on existing tariffs, including a 26% levy on India. Should an interim agreement not be reached by the deadline, India hopes for a postponement to allow further negotiations.
Published: Jun 26 2025, 10 pmeznews.inThe Indian government has identified key agricultural solutions following feedback from 18.5 lakh farmers in Odisha, West Bengal, and the Andaman & Nicobar Islands, gathered during a 15-day campaign led by Agriculture Minister Shivraj Singh Chouhan. Recommendations include establishing a single-window system for agricultural services and promoting low-input, high-value crops, alongside ensuring access to quality seeds. The Indian Council of Agricultural Research (ICAR) proposed integrating agro-tourism, launching micro Front-Line Demonstrations, and enhancing farmers' skills through training. Long-term strategies involve creating District Agri-Innovation Hubs and promoting bio-village clusters. Farmers expressed specific needs, such as timely access to quality seeds, irrigation tools, and alternative crops for flood-prone areas. In aquaculture, they requested support for high-value fish culture and improved pond management. Additionally, there were calls for women-friendly farming tools and sustainable practices to enhance productivity and livelihoods.
Published: Jun 26 2025, 10 pmeznews.inIn response to the Pahalgam terrorist attack, India has implemented a complete ban on imports from Pakistan, effective May 2025. Despite this, attempts to circumvent the ban by routing goods through third countries, particularly Dubai, have been noted. The Directorate of Revenue Intelligence (DRI) launched 'Operation Deep Manifest' to combat these illegal imports, resulting in the seizure of 39 containers containing 1,115 metric tonnes of Pakistani goods, valued at approximately ₹9 crore. One individual linked to the importing firm has been arrested. Investigations revealed that these goods were falsely declared as originating from the UAE, with evidence tracing their movement from Karachi to Dubai before reaching Indian ports. The DRI's intensified surveillance, part of 'Operation Sindoor,' has led to significant seizures and raised concerns over illicit financial flows linked to Pakistani entities.
Published: Jun 26 2025, 9 pmeznews.inHeavy rains in Karnataka's catchment areas have led to the discharge of water from the KRS dam in Mandya district, as levels approach full capacity. This week, India's 161 major reservoirs saw a nearly five percentage point increase in storage, now at 36.42% of their total capacity, bolstered by a 9% surplus rainfall during the southwest monsoon. Despite this, several key agricultural regions, including Bihar and eastern Uttar Pradesh, remain rain-deficient due to uneven rainfall distribution. The Central Water Commission reported significant improvements across all regions, with Goa's reservoir fully filled and increases noted in Maharashtra and Rajasthan. The Ministry of Agriculture indicated a 10% rise in kharif crop acreage compared to last year. Forecasts suggest further storage improvements as the India Meteorological Department anticipates additional rainfall from a low-pressure system in the Bay of Bengal.
Published: Jun 26 2025, 8 pmeznews.inIndia's Ministry of External Affairs (MEA) has expressed optimism regarding the review of the ASEAN-India trade in goods agreement (AITIGA), aiming for a swift conclusion to the negotiations. MEA spokesperson Randhir Jaiswal emphasized the importance of continued engagement with ASEAN partners, despite recent comments from Commerce and Industry Minister Piyush Goyal, who criticized the pact as "silly" for potentially opening Indian markets to competitors, particularly those linked to China. The AITIGA, signed in 2009 and implemented in 2010, has led to a significant widening of India's trade deficit with ASEAN, which reached $45.2 billion in FY25, up from $8 billion in 2010. While India offered concessions on 71% of tariff lines, ASEAN countries have been less forthcoming, with Indonesia, Vietnam, and Thailand opening only 41%, 66.5%, and 67% of their tariff lines, respectively. Negotiations for the review began in 2023 but have seen limited progress.
Published: Jun 26 2025, 8 pmeznews.inFormer US President Donald Trump has suggested that the recent cessation of hostilities between Iran and Israel could pave the way for China to resume its oil purchases from Iran. In a post on his social media platform, Trump claimed credit for this development, indicating that Iran might now be able to sell oil without facing US sanctions. However, India remains cautious about reinitiating its oil imports from Iran, with the Ministry of External Affairs stating that its energy decisions depend on market conditions and the global landscape. India halted its oil purchases from Iran in 2019 after the US revoked waivers for several countries. Should the US clarify that Iran can export oil without sanctions, India might consider resuming imports, potentially revitalizing its exports of goods like rice and pharmaceuticals, which have significantly declined in recent years.
Published: Jun 26 2025, 7 pmeznews.inCotton acreage in India is projected to rise by 7% this season, reaching 113.60 lakh hectares, despite challenges in Telangana and Andhra Pradesh due to a dry spell threatening initial sowings. As of June 20, cotton cultivation covered 31.25 lakh hectares, with Karnataka reporting a significant 40% increase. However, Gujarat may see a 5% decline as farmers shift to groundnut. The India Meteorological Department noted a 23% rainfall deficit in Telangana, where two-thirds of districts are affected, prompting state efforts to ensure seed availability. Experts predict an overall increase of 8-10% in cotton coverage, particularly in northern states like Rajasthan and Punjab, although farmer enthusiasm remains lukewarm due to profitability concerns and pest issues. The Punjab government's subsidies on Bt cotton have not significantly boosted planting, while a lack of canal water during the crucial sowing period has led many farmers to opt for paddy instead.
Published: Jun 26 2025, 7 pmeznews.inMalaysia, the world's second-largest palm oil producer, is set to explore increasing the palm oil content in biofuels, following Indonesia's lead with a 40% biodiesel blend. Currently, Malaysia mandates a B10 blend for transportation and B20 for industrial use, but the latter is limited to select regions. Ongoing research into palm-based aviation fuel and next-generation biodiesel aligns with Malaysia's climate commitments and aims to diversify the palm oil market. However, rising geopolitical tensions and crude oil prices are driving interest in biofuels, potentially boosting demand in ASEAN, India, and West Asia. Despite optimism in the biodiesel sector, concerns over food security and fluctuating edible oil demand, particularly from India, pose challenges. Malaysia's palm oil output is expected to rise moderately, but productivity may be hindered by labor shortages and climate unpredictability, leading to price volatility in the global market.
Published: Jun 26 2025, 6 pmeznews.inNew Zealand Prime Minister Christopher Luxon and Indian Prime Minister Narendra Modi are actively pursuing the early conclusion of a Free Trade Agreement (FTA) between their nations, with India initiating extensive consultations across various industry sectors regarding market access requests from Wellington. The Indian government is assessing New Zealand's requests for duty cuts, encouraging industries to evaluate whether these should be phased out or simply reduced, while also considering tariff reductions through quotas to protect domestic producers, particularly in sensitive areas like agriculture and dairy. Following a five-year hiatus in negotiations that ended in 2015, discussions resumed in March 2025, with the first round held in May and a second planned for July. Both countries are showing increased flexibility, with New Zealand focusing on agricultural goods and India potentially conceding on high-end dairy products. The FTA aims to significantly boost bilateral trade, which reached $1.3 billion in FY25.
Published: Jun 26 2025, 6 pm
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