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As uncertainty surrounds potential US tariffs on alcoholic beverages, Indian industry leaders are advocating for bilateral trade discussions to safeguard the domestic sector, which contributes over ₹3 lakh crore to state revenues and supports millions of jobs. This call for action follows India's recent reduction of tariffs on bourbon whiskey from 150% to 100% in February, a move prompted by US criticism of India's trade practices. Anant S Iyer, Director General of the Confederation of Indian Alcoholic Beverage Companies, highlighted the challenges faced by Indian manufacturers, including high operational costs and restrictive licensing. While lower import duties may benefit US brands, they could undermine the competitiveness of Indian spirits, which already face higher taxes compared to imported liquors. Industry representatives are urging the government to address these disparities and remove non-tariff barriers to ensure a level playing field in the global market. 
Published: Apr 03 2025, 8 pmeznews.inThe United States has imposed significant tariffs on solar equipment imports, with 26% on Indian exports, 46% on Vietnam, and a cumulative 54% on China. This move is expected to provide a slight competitive advantage to Indian solar manufacturers, as they face lower tariffs compared to their Chinese and Vietnamese counterparts. However, the higher tariffs on imported machinery and components from the US could increase costs for Indian developers, particularly in the renewable energy sector, which relies heavily on such imports. Experts suggest that while India could see a boost in module exports to the US, its dependence on Chinese components remains a concern, as over 50% of its solar PV cell and module components are sourced from China. Industry leaders emphasize the need for India to strengthen its supply chain and adapt to these geopolitical shifts to maintain growth in the renewable energy market.
Published: Apr 04 2025, 6 pmeznews.inThe Indian government is set to implement a new tariff line regime for rice exports, effective May 1, following amendments to the Customs Tariff Act, 1975, through the Finance Act 2025, passed on March 29. Minister of State for Commerce Jitin Prasada announced that this initiative will benefit over 20 Geographical Indication (GI) varieties of rice, including Basmati, recognized under the Geographical Indications of Goods (Registration and Protection) Act, 1999. The new classification aims to enhance policy formulation and trade for these rice varieties. Additionally, Union Minister of State for Agriculture Bhagirath Choudhary reported that while rising temperatures have impacted wheat yields in certain regions, the national average productivity remained stable due to the adoption of heat-tolerant varieties. In related news, the government has mandated the use of jute packaging for food grains and allowed the import of Dent Corn under a tariff rate quota, although no imports have occurred yet due to unfavorable market conditions.
Published: Apr 04 2025, 7 pmeznews.inAgri value chain enabler Samunnati has successfully raised ₹146 crore in recent debt funding from prominent institutions, including State Bank of India and Axis Bank, contributing to a total of ₹2,300 crore for the financial year 2024-25—a 50% increase from the previous year. The company has diversified its lending sources, onboarding 12 new lenders, which now totals 46, including major banks and developmental financial institutions. This financial backing has facilitated over ₹7,000 crore in gross transaction value and a 30% growth in average assets under management, reaching ₹2,000 crore. Founder Anil Kumar SG emphasized the company's commitment to empowering smallholder farmers and agri-enterprises with tailored solutions. Notably, Samunnati became the first non-banking financial company in the agriculture sector to list a Green Bond on the Bombay Stock Exchange, underscoring its dedication to sustainable finance. The company anticipates a robust pipeline of over ₹600 crore for Q1 FY26.
Published: Apr 04 2025, 7 pmeznews.inThe Defence Research and Development Organisation (DRDO) and the Indian Army have successfully conducted trials of the Medium-Range Surface-to-Air Missile (MRSAM), demonstrating its operational capability to intercept aerial threats. Over two days, four tests were carried out off the coast of Odisha, where the missile effectively destroyed high-speed aerial targets at various altitudes and ranges, confirming its effectiveness against fighter aircraft, missiles, and drones. The trials involved senior officials and validated the weapon system's performance through advanced tracking technologies. Although the exact range of the MRSAM was not disclosed, sources indicate it is effective up to 70 km. Defence Minister Rajnath Singh praised the successful tests as a significant milestone for the Indian Army, which plans to deploy the mobile weapon systems in two regiments. The MRSAM, developed in collaboration with Israel Aerospace Industries, features a multi-function radar and mobile launch capabilities.
Published: Apr 04 2025, 7 pmeznews.inGold prices plummeted by $100 per ounce following a significant selloff in commodities and equities markets, triggered by US President Donald Trump's announcement of reciprocal tariffs. The Bloomberg Commodity Index fell nearly 3% to 101.59, with energy products like crude oil and natural gas among the hardest hit. Other commodities, including gold, silver, and copper, also experienced declines, as concerns over a potential US-led global recession grew. Research agency BMI warned that investor sentiment is likely to shift towards a challenging demand outlook for commodities in the coming weeks. Despite the downturn, a weakening dollar may prevent a total collapse in commodity prices, except for crude oil. Analysts predict that if gold remains below $3,070, it could drop to $3,000. The ongoing US-China tensions further exacerbate fears of reduced demand for industrial metals and agricultural products.
Published: Apr 04 2025, 7 pmeznews.inA team of scientists from the ICAR – Directorate of Cashew Research and the ICAR – Central Institute of Agricultural Engineering has developed innovative machines to streamline the labor-intensive process of separating cashew nuts from cashew apples. Catering to various farming needs, they introduced three models: a pedal-operated separator for smallholders without electricity, a semi-automatic version for mid-sized operations, and a fully automatic three-in-one machine capable of processing 300 kg per hour with over 99% efficiency. The latter not only separates nuts but also extracts pulp and removes fibrous material, with all outputs being usable for animal feed or value-added products. The pedal-operated separator costs approximately ₹15,000, while the fully automatic model is priced at ₹1.95 lakh. These advancements aim to reduce labor dependency and enhance productivity for cashew farmers, particularly benefiting small and marginal producers. The team has applied for patents and signed a licensing agreement with Phison Agritech Pvt Ltd.
Published: Apr 04 2025, 6 pmeznews.inIndia is significantly reshaping its coking coal sourcing strategy in the wake of the Covid-19 pandemic, moving away from its heavy reliance on Australia. Once accounting for 74% of India's coking coal imports in FY20, Australian shipments are projected to decline to 30.3 million tonnes by FY25, representing a 28% drop. In contrast, Russia and the United States have emerged as key suppliers, with Russian imports increasing nearly threefold to 8.7 million tonnes and U.S. shipments more than doubling to 8.5 million tonnes. Together, these nations now provide over 30% of India's coking coal, up from 11% the previous year. This diversification is driven by rising costs and supply disruptions from Australia, prompting Indian steelmakers to seek more affordable options. Meanwhile, India's Coal Ministry is pursuing 'Mission Coking Coal' to boost domestic production to 140 million tonnes by FY30, further reducing import dependency.
Published: Apr 04 2025, 6 pmeznews.inThe Indian Cabinet has approved four multitracking projects for Indian Railways, with a total investment of ₹18,658 crore, aimed at enhancing the railway network across Odisha, Maharashtra, and Chhattisgarh. Set for completion by 2030-31, these projects will add 1,247 track kilometres and are expected to boost the Railways' share in cargo logistics from 29% to 35%. The upgrades will facilitate the transport of essential goods, including coal and agricultural products, increasing freight capacity by 88.77 million tonnes annually. Additionally, the initiative aligns with India's sustainability goals, projected to reduce oil imports by 95 crore litres and cut CO2 emissions by 477 crore kilograms. The construction phase is anticipated to create around 379 lakh human-days of employment and improve connectivity for 3,350 villages, benefiting 47.25 lakh people. These developments are part of the PM-Gati Shakti National Master Plan, enhancing India's position as a leading cargo carrier.
Published: Apr 04 2025, 5 pmeznews.inChina has initiated a lawsuit against the United States at the World Trade Organisation (WTO) in response to the imposition of "reciprocal tariffs" by the Trump administration. In retaliation, Beijing announced a 34% tariff on all American imports, effective April 10, mirroring the US tariffs on Chinese goods. Additionally, China will restrict exports of seven rare earth materials, launch an anti-dumping investigation into US medical equipment, and halt poultry imports from two American firms. The escalating trade tensions have been exacerbated by a lack of communication between President Trump and his Chinese counterpart since January, alongside ongoing disputes over China's alleged role in the fentanyl crisis. The US tariffs, which could rise to 54% on Chinese products, have already led to a significant decline in US imports from China, which totaled nearly $164 billion last year, the lowest in four years.
Published: Apr 04 2025, 4 pmeznews.inUS President Donald Trump announced sweeping reciprocal tariffs on April 2, 2025, targeting nearly all trading partners in a significant escalation of his long-standing critique of the global economic system. The tariffs, which include a 34% levy on China, 20% on the EU, and up to 49% on Cambodia, have raised alarms among major economic institutions. The World Trade Organization (WTO) warned that these measures could lead to a 1% contraction in global merchandise trade, a downward revision of nearly four percentage points from earlier forecasts. WTO Director General Ngozi Okonjo-Iweala expressed concern over the potential for a tariff war, while IMF Managing Director Kristalina Georgieva cautioned against actions that could further destabilize the sluggish global economy. Despite the new tariffs, the WTO noted that 74% of global trade still operates under its Most-Favored-Nation terms, emphasizing the need for cooperation to mitigate trade tensions.
Published: Apr 04 2025, 3 pm
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