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India's wheat procurement has surged by 92.3% to 83.58 lakh tonnes (lt) as of April 16, compared to 43.46 lt last year, following an early start on April 1. The government aims to exceed procurement levels from the past four years, driven by concerns over self-sufficiency after a poor yield in 2021-22. Madhya Pradesh leads with 40.08 lt procured, bolstered by a state bonus of Rs 175 per quintal. Rajasthan and Uttar Pradesh also reported significant increases, while Punjab's procurement rose to 5.29 lt from 74,144 tonnes last year. The Centre has set a target of 312.7 lt for this year, with expectations of surpassing it due to favorable yield reports. However, farmer leaders have raised concerns over distress sales and restrictions on wheat movement. The Agriculture Ministry anticipates wheat production will exceed 115 million tonnes in the 2024-25 crop year. 
Published: Apr 17 2025, 8 pmeznews.inUS President Donald Trump has reiterated that a trade deal with India is imminent, despite ongoing negotiations that have yet to yield results. Reciprocal tariffs of 26% on Indian goods, initially set to take effect on July 9, have been paused for an additional three weeks, although a 10% baseline tariff remains in place for most countries. Trump has sent letters to fourteen trade partners, including Japan and South Korea, outlining new tariffs to be imposed from August 1, aimed at reducing America's trade deficit. While Trump described the August 1 deadline as "firm," he expressed openness to further negotiations. India's Commerce Minister Piyush Goyal emphasized that the country will negotiate on its own terms, prioritizing its agricultural and dairy interests, as well as seeking preferential access for labor-intensive products. The Indian negotiating team recently spent a week in Washington, but disagreements have delayed a final agreement.
Published: Jul 08 2025, 11 ameznews.inA report by the Global Trade Research Initiative (GTRI) has criticized U.S. President Donald Trump's trade strategy, asserting that it relies on tariffs as a coercive tool rather than fostering genuine partnerships. The report highlights that Trump's approach circumvents traditional Free Trade Agreements (FTAs), demanding tariff reductions and purchase commitments from partner countries without offering reciprocal concessions. Even if India finalizes a trade deal with the U.S., it may still face a minimum 10 percent additional levy on exports, as the existing 26 percent surcharge imposed in April may not be fully lifted. The GTRI warns that Trump's trade tactics create an unpredictable environment, with countries at risk of facing new tariffs despite any agreements reached. Furthermore, the report notes that Trump lacks Fast Track Trade Authority, complicating the legal basis for these tariffs, which have already been deemed unlawful by a federal court.
Published: Jul 08 2025, 11 ameznews.inAustralia's A$4.1 trillion pension industry is shifting its investment strategies, with major funds expressing concerns over high US stock valuations and increased volatility linked to former President Donald Trump's policies. AustralianSuper, the largest pension fund, has reduced its exposure to US equities while remaining optimistic about infrastructure investments. Colonial First State is diversifying into emerging markets and private equity, citing attractive valuations in Chinese stocks. Other funds, like Australian Retirement Trust and Aware Super, are cautious about US investments, focusing instead on real assets and strategic allocations in Europe. Meanwhile, HESTA is exploring opportunities in US and European property markets, while Legalsuper maintains its US equity position but is wary of the dollar's strength. Overall, Australian pension funds are increasingly looking beyond the US to mitigate risks and capitalize on emerging market potential.
Published: Jul 08 2025, 9 ameznews.inThe United States has extended the suspension of reciprocal tariffs, initially set to take effect on July 9, until August 1, 2025, providing crucial relief to Indian exporters amid ongoing trade negotiations. This decision comes as India seeks to finalize an interim trade deal with the US, which has been its largest trading partner since 2021-22. Notably, India was not included in the recent list of countries receiving tariff letters from the Trump administration, which targets several nations with new tariffs starting August 1. Exporters in India view this extension as a positive sign, allowing additional time for dialogue to resolve outstanding issues. With bilateral trade reaching USD 131.84 billion in 2024-25, stakeholders remain hopeful that a bilateral trade agreement can be concluded by fall 2025, although some caution that the short suspension period may necessitate exploring new markets.
Published: Jul 08 2025, 10 ameznews.inThe Delhi High Court has dismissed a plea from ground handling firm Celebi, which contested the revocation of its security clearance by the Bureau of Civil Aviation Security (BCAS) due to national security concerns. Celebi claimed its license was cancelled without prior notice or adequate reasoning. However, the court ruled that national security considerations can supersede the principles of natural justice, emphasizing that the security of the nation is paramount. The BCAS revoked Celebi's clearance on May 15, shortly after Turkey expressed support for Pakistan and criticized India's military actions. The court highlighted the critical nature of ground handling services, which provide extensive access to sensitive airport operations, necessitating rigorous security vetting, especially for foreign-affiliated operators. This ruling may set a precedent for similar cases, including a pending appeal from another Celebi subsidiary.
Published: Jul 07 2025, 8 pmeznews.inIn the past 15 years, the Chennai Port Authority (ChPA) has generated nearly ₹500 crore from Hyundai Motor India Ltd (HMIL), a key client for car exports. This revenue, derived from vessel and cargo-related charges, underscores a long-standing partnership that began with a strategic MoU 25 years ago. HMIL has exported over 3.7 million vehicles to more than 150 countries, currently serving over 60 markets with nine tailored models, including the CRETA and the newly launched CRETA Electric. The company exported 163,386 units in FY 2024-2025, with Saudi Arabia, South Africa, Mexico, Chile, and Peru as its top markets. S. Kirupanandasamy, Traffic Manager at ChPA, noted that Hyundai benefits from a dedicated facility at the port, capable of holding over 4,000 vehicles. Looking ahead, HMIL's Managing Director, Unsoo Kim, projects a 7-8% growth in export volumes for FY26, driven by strong demand in emerging markets.
Published: Jul 08 2025, 7 ameznews.inJSW Infrastructure has secured a significant contract from the Syama Prasad Mookerjee Port Authority to reconstruct Berth 8 and mechanise Berths 7 and 8 at the Netaji Subhas Dock in Kolkata. This ambitious project, which is expected to enhance the port's container handling capacity, comes with a 30-year concession period and an estimated capital expenditure of ₹740 crore. The construction is set to take two years and will be executed under a design, build, finance, operate, and transfer (DBFOT) model as part of a public-private partnership (PPP). The initiative reflects ongoing efforts to modernise port infrastructure and improve operational efficiency in one of India's key maritime hubs.
Published: Jul 07 2025, 8 pmeznews.inIn a recent report presented to Tamil Nadu Chief Minister MK Stalin, the State Planning Commission (SPC) outlined a transformative approach to the restoration of post-mining landscapes, which have historically been deemed unproductive. The study identifies five key restoration objectives: enhancing biodiversity, ensuring water security, promoting agroforestry, creating recreational spaces, and facilitating solar power generation. By leveraging geospatial information, the report highlights the potential of 5,052 abandoned or underutilized mines across the state for ecological revitalization. It emphasizes the need for thoughtful planning and collaboration among stakeholders to achieve regional sustainability goals. The report also critiques past restoration efforts, which often involved costly and ineffective methods, and advocates for the use of native species and innovative land-use strategies to create ecological hotspots and support local communities. This initiative marks a significant shift towards viewing post-mining sites as valuable assets for ecological and economic development.
Published: Jul 07 2025, 8 pmeznews.inMalpractices in India's steel import sector have come to light, with traders circumventing Bureau of Indian Standards (BIS) quality norms to import substandard steel from countries like China and Vietnam. The Steel Ministry's increased scrutiny revealed that smaller importers were falsifying documents to apply for "new grades" and evade mandatory quality checks. In response, the Ministry has halted the clearance of suspect shipments, including some from Japan, and is tightening regulations. A recent report indicated that 1,136 import applications were for steel grades not recognized by BIS, often involving minor alterations to chemical compositions. The Ministry has mandated that all non-BIS-compliant steel imports receive prior approval, particularly targeting Chinese-origin products entering through Vietnam. While the government has granted a 15-20 day relaxation period for select shipments, concerns remain that limiting imports could lead to domestic monopolies manipulating prices.
Published: Jul 07 2025, 8 pmeznews.inAs of July 4, 2023, India's paddy coverage has increased to 69.3 lakh hectares (lh), up from 64.52 lh last year, reflecting a 7.4% rise. Overall, kharif sowing has reached 40% of the normal 1,097 lh area, with 437.43 lh planted across various crops, marking an 11.1% increase from 393.77 lh in 2022. Notably, pulses acreage surged by 35.2% to 42.57 lh, with urad and moong showing gains, although arhar fell by 11.1%. Oilseeds have also seen improvement, rising to 108.21 lh from 94.9 lh, while nutri/coarse cereals increased by 21% to 77.18 lh. The monsoon has been favourable, with rainfall 31% above normal, aiding sowing efforts. Experts highlight a growing interest in sustainable agricultural practices as farmers focus on soil health and crop resilience amid positive monsoon conditions.
Published: Jul 07 2025, 8 pm
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