eznews.inA recent analysis by Boston Consulting Group (BCG) warns that by 2030, 42% of India's districts could face temperature increases of up to 2 degrees Celsius, potentially affecting 321 districts within the next five years. This rise in temperature, attributed to climate change, is expected to increase default risks in 30% of agricultural and housing loans, as extreme weather events lead to reduced agricultural output and lower per capita incomes. While the average global temperature has already risen by 1.2 degrees Celsius, creating significant economic challenges, the report highlights a potential opportunity for banks to fund India's energy transition, estimated at $150 billion annually. However, current climate finance falls short, with only $40-60 billion available. BCG emphasizes the need for banks to raise awareness of climate risks and promote green technologies, while also advocating for blended finance to ensure adequate funding for climate resilience. 
Published: Feb 23 2025, 1 pmeznews.inIndia and the UK are set to resume negotiations for a free trade agreement (FTA) on February 24, after an eight-month hiatus. UK Secretary of State for Business and Trade, Jonathan Reynolds, will meet with Indian Commerce and Industry Minister Piyush Goyal to discuss the FTA, which aims to eliminate or significantly reduce customs duties on a wide range of goods and ease trade in services and investments. Launched in January 2022, the talks have seen 13 rounds of discussions, with the latest round paused in May 2024 due to UK elections. The Indian industry seeks greater access for skilled professionals and reduced tariffs on goods, while the UK is pushing for lower import duties on products like Scotch whisky and electric vehicles. The agreement could enhance bilateral trade, which rose to $21.34 billion in 2023-24, and includes provisions for a bilateral investment treaty.
Published: Feb 23 2025, 12 pmeznews.inIndia's domestic coal production for the April-December 2024 period reached 726.29 million tonnes (MT), a 6.11% increase from 684.45 MT in the same timeframe last year, reflecting the government's commitment to enhancing energy security. Meanwhile, coal imports remained stable at 201.30 MT, slightly down from 201.52 MT in the previous year, with December imports dropping to 19.28 MT from 23.35 MT. Non-coking coal imports fell to 128.85 MT, while coking coal imports decreased to 40.64 MT. Mjunction MD & CEO Vinaya Varma attributed the decline in imports to high domestic stock levels and lower demand, a trend expected to continue. Coal and Mines Minister G Kishan Reddy emphasized the government's focus on reducing imports and boosting domestic production, as coal remains vital for India's energy mix, accounting for 55% of the national energy supply and supporting 74% of power generation through thermal plants.
Published: Feb 23 2025, 10 ameznews.inThe Indian aquaculture sector is emerging as a vital component of the economy, with the government allocating ₹2,703.67 crore in the 2025 Union Budget to enhance its growth. This investment aims to promote sustainable fishing practices, particularly in the exclusive economic zones and high seas around Lakshadweep and the Andaman & Nicobar Islands. Currently, India ranks as the second-largest global producer of fish, contributing approximately 1% to the national GDP and over 5% to agricultural GDP, with seafood exports valued at ₹60,000 crore. Despite its potential, the sector faces challenges such as inadequate structure and quality control, which hinder profitability. Government initiatives like the Pradhan Mantri Matsya Sampada Yojana aim to formalise the industry, improve yields, and create jobs. By tapping into the largely underutilised marine resources, India can significantly boost its foreign exchange earnings and solidify its position in the global seafood market.
Published: Feb 23 2025, 9 ameznews.inEffective soil management, irrigation, and timely interventions are crucial for enhancing crop yields, according to agricultural experts. Key practices include careful sowing techniques that promote root development, alongside soil health assessments to guide fertiliser application. Farmers are encouraged to use resistant seed varieties and pre-sowing treatments to boost plant vigor and disease resistance. In regions like West Bengal and Assam, soil amendments such as liming and organic mulching are vital for maintaining fertility and moisture. Advanced irrigation methods, including drip systems, are recommended to optimise water use, particularly in arid areas like Gujarat and Maharashtra. Additionally, monitoring crop health through remote sensing and timely interventions can mitigate the impacts of adverse weather. Farmers are urged to purchase agricultural inputs from reputable sources to avoid counterfeit products, ensuring they receive quality materials for sustainable farming practices.
Published: Feb 23 2025, 9 ameznews.inBalrampur Chini Mills has laid the foundation stone for India's first polylactic acid (PLA) biopolymer manufacturing facility in Kumbhi, Uttar Pradesh, with plans to commence commercial production by the end of 2026. The Kolkata-based company aims to invest ₹2,850 crore in the plant, which will have an annual production capacity of 80,000 tonnes. This initiative is part of Balrampur's strategy to diversify its revenue streams, targeting 50% of its income from non-sugar businesses within three years, up from the current 20%. The project is expected to create 225 direct jobs and over 2,000 indirect jobs, aligning with the Uttar Pradesh Bioplastic Industry Policy 2024. PLA is seen as a sustainable alternative to single-use plastics, with applications in various consumer products. Balrampur's Chairman Vivek Saraogi emphasized the significance of this investment as the company's largest to date, aimed at maximizing value and mitigating risks.
Published: Feb 22 2025, 7 pmeznews.inThe Indian Electrical & Electronics Manufacturers' Association (IEEMA) aims to boost the country's electrical and electronics exports from $12 billion to $25 billion over the next five years, as announced by President Sunil Singhvi at the Elecrama 2025 event in Greater Noida. Singhvi emphasized the need for India to become a global hub for manufacturing in this sector, particularly as the global supply chain shifts towards India as a reliable energy partner. He highlighted the importance of engaging with international standard bodies and enhancing quality standards and testing infrastructure to meet global benchmarks. Singhvi also called on industry members to invest in innovation, skills development, and new technologies to ensure that Indian products align with international standards. Established in 1948, IEEMA represents over 1,000 manufacturers in the electrical and industrial electronics sectors, advocating for policies that support export growth and competitiveness.
Published: Feb 22 2025, 9 pmeznews.inA meeting between a Central team led by Union Ministers Shivraj Singh Chouhan and Pralhad Joshi and farmer leaders in Chandigarh concluded without resolution, with a follow-up scheduled for March 19. Chouhan described the discussions as productive, with farmers presenting their demands, including a legally enforced minimum support price (MSP) for crops, while the government outlined its initiatives to support the agricultural sector. Discrepancies arose over market price data, with farmers questioning the government's figures. Despite Chouhan's appeal for fasting farmer leader Jagjit Singh Dallewal to end his indefinite fast, farmers insisted they would only do so once their MSP demand is met. This meeting follows a year of protests led by the Samyukta Kisan Morcha and Kisan Mazdoor Morcha, and comes after four previous rounds of talks in February 2024 ended without agreement on government procurement guarantees for certain crops. Farmers are also seeking debt waivers, pensions, and justice for past violence victims.
Published: Feb 22 2025, 9 pmeznews.inThe Kerala Government has garnered Expressions of Interest (EoIs) worth ₹1,52,905.67 crore from 374 companies during the Invest Kerala Global Summit (IKGS 2025), as announced by State Industries Minister P. Rajeeve. The two-day summit attracted global industry leaders and policymakers from 26 countries, focusing on investment opportunities, particularly in the IT sector. Notably, 24 IT companies plan to invest nearly ₹8,500 crore, potentially creating 60,000 jobs. To facilitate these investments, the government will implement a fast-track mechanism for each EoI, with a dedicated nodal officer and a review committee led by the Chief Secretary. Chief Minister Pinarayi Vijayan emphasized the importance of the IT sector, which employs around 200,000 professionals in Kerala, highlighting its potential to generate indirect employment in various support services. A dedicated investor toll-free number and email will also be established to expedite the investment process.
Published: Feb 22 2025, 7 pmeznews.inThe Department of Consumer Affairs (DoCA) has announced refunds totaling ₹1.56 crore for over 600 students enrolled in coaching centres for Civil Services and Engineering courses, who were previously denied refunds despite adhering to the institutes' terms. Following complaints lodged with the National Consumer Helpline (NCH), the DoCA facilitated a streamlined dispute resolution process, ensuring students received compensation for unfulfilled services, late classes, or cancelled courses. The department has mandated that all coaching centres adopt a student-centric approach and implement clear, transparent refund policies to protect students' financial interests. It emphasized that legitimate refund claims cannot be denied and urged coaching institutes to uphold consumer rights. The NCH's intervention has proven effective in resolving grievances before they escalate to legal disputes, providing students with a reliable means to safeguard their interests in the education sector.
Published: Feb 22 2025, 7 pm
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