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India's trade deficit is projected to widen to $300 billion in the financial year 2025-26, representing 7.0% of GDP, according to a report by ICICI Bank. This increase comes despite expectations that oil prices will remain stable, with the deficit primarily driven by a decline in non-oil exports. In FY25, the trade deficit reached $287 billion, up from $245 billion in FY24, largely due to a 6.2% rise in imports. While exports have shown modest growth of 3.1% year-on-year, this is mainly attributed to a significant 22% increase in exports to the US, while other markets saw declines. The report anticipates steady inflows from services exports and remittances, projecting a current account deficit of $30 billion (0.7% of GDP) for FY26. Despite global economic uncertainties, India's economy is expected to remain resilient, bolstered by fiscal and monetary support. 
Published: Jun 30 2025, 11 ameznews.inDelhi International Airport Ltd (DIAL) is set to transform the Indira Gandhi International Airport (IGIA) complex into a global logistics and trade hub with the development of a ‘Cargo City and Special Economic Zone’ (SEZ). DIAL's CEO, Videh Kumar Jaipuriar, emphasized that this initiative aims to integrate passenger and cargo operations, enhancing the airport's global standing. The 50-acre Cargo City will feature general and express warehouses, a Cargo SEZ, and supporting infrastructure, with the first phase expected to be completed by early FY2028. This project aligns with the National Logistics Policy, aiming to reduce logistics costs and boost the competitiveness of Indian products in the global market, supporting the 'Make in India' initiative. The SEZ will offer duty-free imports and other incentives, positioning IGIA as a leading cargo and logistics hub in Asia, with planned capacities of 1.8 million tonnes per annum and 0.5 million square feet.
Published: Jun 30 2025, 7 pmeznews.inVedanta Metal Bazaar, the e-commerce platform of Vedanta Limited, has reported total sales of ₹40,000 crore (approximately $4.7 billion) since its launch in February 2024. Claimed to be the world's largest non-ferrous metals e-store, it offers over 1,200 stock keeping units (SKUs) including aluminium, zinc, lead, and copper. The platform's direct sales model has significantly benefited small and medium enterprises (SMEs), leading to a 240% increase in active users and a 35% rise in SME registrations within six months. Currently, 60% of its customer base comprises MSMEs. Additionally, the e-store provides hedging services to mitigate price risks and offers embedded financing through partnerships with major Indian banks and non-banking financial companies, facilitating over ₹1,150 crore in sales. The product range includes various metals and access to Vedanta’s low-carbon “green” offerings.
Published: Jun 30 2025, 7 pmeznews.inIn the latest Financial Stability Report (FSR), Reserve Bank of India (RBI) Governor Sanjay Malhotra warned that escalating trade disruptions and geopolitical tensions could hinder domestic growth and diminish bank credit demand, which has already slowed to 9.8% in May 2025 from 16.2%. The report highlights that a 100 basis points decline in global growth could reduce India's growth by 30 basis points. While risks from unsecured retail loans are contained, the accumulation of household debt among lower-rated borrowers necessitates vigilance. Despite these challenges, the Indian economy is buoyed by strong domestic drivers and sound fundamentals, with inflation aligning with the RBI's 4% target. The financial system remains resilient, supported by robust capital and liquidity buffers, although external factors may induce risk aversion among investors. Overall, while the financial landscape is stable, some stress is evident, particularly in financial markets due to global influences.
Published: Jun 30 2025, 7 pmeznews.inData from the Controller of General Accounts (CGA) reveals that the Indian government received over ₹7.32 lakh crore, accounting for 21% of the Budget Estimate for the current fiscal year. This revenue includes more than ₹3.5 lakh crore from net tax collections and ₹3.56 lakh crore from non-tax revenues, marking a 10% increase in tax revenues and a significant 41.8% rise in non-tax revenues year-on-year. The government transferred over ₹1.63 lakh crore to states as tax devolution, exceeding last year's figures by ₹23,720 crore. Despite a 54% surge in capital expenditure during April-May, the fiscal deficit remained manageable at just over ₹13,000 crore, aided by RBI surplus. Economists suggest that the government could increase capital expenditure beyond the Budget Estimate, potentially reaching nearly ₹12 lakh crore, while cautioning about slower tax collection growth amid changing economic conditions.
Published: Jun 30 2025, 6 pmeznews.inThe Indian delegation, led by Rajesh Agrawal, special secretary in the commerce department, has extended its stay in Washington until June 30 to continue negotiations on an interim trade agreement with the United States. Initially set for a two-day visit starting June 26, the talks have been prolonged as both nations aim to finalize a deal before the July 9 deadline for the expiration of reciprocal tariffs imposed by the Trump administration. The US has suspended a 26% additional tariff on Indian goods for 90 days, while India seeks full exemption from this tariff. Key negotiation points include India's reluctance to concede in agriculture and dairy sectors, while the US is pushing for concessions on industrial goods and automobiles. Both countries aim to conclude discussions for a broader bilateral trade agreement by fall, targeting a significant increase in bilateral trade to USD 500 billion by 2030.
Published: Jun 30 2025, 6 pmeznews.inShaikh Khader Rahman, Chief Commissioner of Central Tax, Central Excise & Customs for the Thiruvananthapuram Zone, announced an impressive 18% growth in GST revenue and a 14% increase in Central Excise revenue during the first two months of FY 2025-26. Speaking at a press conference in Kochi, he highlighted the enforcement and audit wings' efforts, which led to the identification of tax evasion cases amounting to ₹580 crore. The Thiruvananthapuram CGST Zone received a ‘Commendation Certificate’ from the Central Board of Indirect Taxes and Customs for its exceptional performance in GST administration, notably processing 55% of GST registration applications within seven days and resolving 83% of GST appeals. As part of GST Pakhwada 2025, help-desks were established to assist taxpayers, resolving around 200 grievances. The GST Day celebrations, themed ‘GST – Simplifying Taxes: Empowering Citizens,’ will take place on July 1, featuring Finance Minister K. N. Balagopal and actor Mohanlal as guests.
Published: Jun 30 2025, 6 pmeznews.inInterest rates on India's small savings schemes, including the Public Provident Fund and Sukanya Samriddhi Scheme, will remain unchanged for the seventh consecutive quarter starting July 1, as confirmed by a Finance Ministry memorandum. This decision, aimed at bolstering household savings amid declining interest rates in the banking sector, poses challenges for banks struggling to attract deposits. With recent cuts in policy interest rates and the Cash Reserve Ratio, banks have lowered their deposit rates, which now hover around 6.5-7 percent, making government-backed schemes, offering rates between 7.1 and 8.2 percent along with tax benefits, more appealing to risk-averse savers. The longer tenures of these schemes, such as the 15-year Public Provident Fund, further enhance their attractiveness compared to the shorter average tenors of retail bank deposits. Experts warn that this widening gap could hinder banks' ability to mobilize retail deposits amid robust credit demand.
Published: Jun 30 2025, 6 pmeznews.inIndia continues to grapple with a significant trade deficit in steel, remaining a net importer despite a 30% year-on-year reduction in imports to 0.95 million tonnes (mt), valued at ₹9,167 crore, during April-May. Exports also fell by 18% to 0.77 mt (₹6,519 crore), resulting in a net import of 0.18 mt and a trade deficit of ₹2,648 crore. Notably, imports from China have plummeted nearly 50% to 0.2 mt, attributed to a 12% safeguard duty and quality control measures, while shipments from Japan dropped 66% to 0.12 mt. In contrast, South Korea emerged as the leading exporter of finished steel, with 0.37 mt. India's steel production and domestic consumption both rose by 7% to 25.5 mt and 25.2 mt, respectively, although steel prices exhibited mixed trends, with rebar prices declining due to weak demand.
Published: Jun 30 2025, 6 pmeznews.inIndia's Ministry of Environment has unveiled a draft notification proposing legally binding greenhouse gas (GHG) emission targets for over 460 industrial units, marking the establishment of the country's first compliance-based carbon market. The initiative, part of the Carbon Credit Trading Scheme (CCTS) 2023, aims to reduce emissions in key sectors including aluminium, steel, petroleum refining, petrochemicals, and textiles. Under the Greenhouse Gas Emission Intensity Target Rules, 2025, designated industries must either lower their GHG emissions per unit of output or purchase carbon credits from the Indian Carbon Market. Non-compliance will result in financial penalties under the Environment (Protection) Act, 1986. The draft outlines specific reduction targets for compliance years 2025-26 and 2026-27, with the Bureau of Energy Efficiency determining benchmarks. The ministry is currently seeking public feedback on the proposal, with comments due within 60 days of publication.
Published: Jun 30 2025, 5 pmeznews.inThe Soyabean Processors Association of India (SOPA) anticipates a 5% decline in soyabean acreage for the upcoming kharif season, primarily due to farmers opting for more profitable crops like maize and cotton after experiencing poor returns over the past two years. As of June 30, sowing has progressed in key states, with approximately 42.98 lakh hectares planted, although poor germination in regions of Madhya Pradesh and Maharashtra has necessitated re-sowing. Last year, soyabean was cultivated on about 117.48 lakh hectares, and SOPA estimates production for the 2024 season at 125 lakh tonnes, with an average yield of 1,064 kg per hectare. The government has raised the minimum support price for soyabean to ₹5,328 per quintal for the 2025 kharif season, yet current market prices remain below this level, with modal prices in Madhya Pradesh ranging from ₹3,800 to ₹4,350 per quintal.
Published: Jun 30 2025, 5 pm
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