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The recent plane crash in Ahmedabad, which resulted in the deaths of 241 passengers, alongside escalating tensions in the Israel-Iran conflict, has significantly heightened concerns regarding travel safety. This has led to a marked increase in demand for travel insurance, as travellers seek financial protection against unforeseen events. Bhaskar Nerurkar from Bajaj Allianz noted a surge in awareness around travel insurance, while Priya Deshmukh of ICICI Lombard highlighted a growing interest in comprehensive coverage, including medical emergencies and trip cancellations. Insurers anticipate substantial growth in the travel insurance sector, driven by rising consumer awareness and the resurgence of international travel post-pandemic. The current market for travel insurance in India is valued at ₹1,343.56 crore, with an annual growth rate of 11.5%. As travellers become more conscious of potential risks, the insurance industry is responding with tailored solutions to meet evolving needs. 
Published: Jun 24 2025, 5 pmeznews.inIn a mixed day for Indian markets, the SENSEX rose by 130.90 points to close at 82,886.41, while the NIFTY gained 10.55 points, reaching 25,255.30. In commodities, gold saw an increase of 138.00, priced at 97,495.00, and silver rose by 420.00 to 106,400.00. Conversely, crude oil prices fell by 33.00, settling at 5,610.00. Meanwhile, the India Meteorological Department (IMD) has issued warnings for strong surface winds, reaching speeds of 40-60 km/h, across Karnataka, Coastal Andhra Pradesh, and Telangana over the next four days. Fresh thunderstorms have developed off the coasts of Andhra Pradesh and Odisha, with heavy rainfall expected in various regions, including Konkan, Goa, and parts of North-West India, as a low-pressure area forms over the north-west Bay of Bengal. The IMD forecasts isolated heavy rainfall in several states, including Punjab and Uttarakhand, in the coming days.
Published: Jun 26 2025, 9 ameznews.inIndia's potato production has surged to 601.75 lakh tonnes for the 2024-25 season, marking an increase of 31.21 lakh tonnes from the previous year. This growth is part of a broader rise in horticulture crop output, which is estimated to have grown by 3.66% to 3,677.24 lakh tonnes, driven by higher yields of fruits and vegetables. The area under cultivation expanded to 292.67 lakh hectares, up from 290.86 lakh hectares in 2023-24. Union Agriculture Minister Shivraj Singh Chouhan attributed this increase to the dedication of farmers, agricultural scientists, and government initiatives. Notably, fruit production rose by 1.36% to 1,145.10 lakh tonnes, while vegetable output saw a 6% increase to 2,196.74 lakh tonnes. However, tomato production declined to 207.52 lakh tonnes from 213.23 lakh tonnes, and spice output slightly decreased to 123.70 lakh tonnes.
Published: Jun 26 2025, 9 ameznews.inThe Income Tax Department has announced a relaxation in the timeline for processing income tax returns (ITRs) filed after the due date due to illness, technical issues, or court orders, provided these delays have been condoned by the relevant authorities. According to a recent circular, valid electronically filed returns submitted by March 31, 2024, under Section 119(2)(b) of the Income Tax Act will be processed, with notifications sent to taxpayers by March 31, 2026. However, this relaxation does not apply to cases where assessments or revisions have already been completed. Additionally, refunds will not be issued if there is no linkage between the PAN and Aadhaar. The Central Board of Direct Taxes (CBDT) has set a five-year limit for filing condonation applications, effective from October 1, 2024, and any approved requests will exempt taxpayers from penalties or interest.
Published: Jun 26 2025, 9 ameznews.inQatar Airways Group CEO Badr Mohammed Al-Meer announced that the airline's operations have stabilised following a significant airspace closure on Monday, which resulted in the diversion of 90 aircraft carrying 20,000 passengers. Fifteen of these planes were redirected to India, while an additional 10,000 passengers were in transit at Doha’s Hamad International Airport when an Iranian missile struck Qatar. As transit numbers swelled to 22,000, passengers expressed frustration over long queues. In response, Al-Meer detailed the airline's swift action, including activating business continuity plans and providing hotel accommodation for over 4,600 customers. By Tuesday, Qatar Airways had operated 390 flights, successfully clearing all diverted passengers within 24 hours. By the end of Tuesday, more than 58,000 passengers had departed Doha, with operations further stabilising by Wednesday, showcasing the airline's commitment to resilience and customer service amid geopolitical challenges.
Published: Jun 26 2025, 6 ameznews.inReliance Defence, led by Anil Ambani, has secured a significant export order valued at ₹600 crore for large calibre ammunition from German defence firm Rheinmetall Waffe Munition GmbH. This deal, part of a six-year agreement, will see ammunition produced at Reliance's new Ratnagiri plant in Maharashtra, with exports expected to commence early next year. While the specific quantity of ammunition was not disclosed, the order marks a pivotal moment in India's push for self-sufficiency in defence manufacturing, with the country currently meeting 88% of its ammunition needs through domestic production. The partnership underscores Reliance Defence's ambition to enhance its role in the global defence supply chain, particularly in Europe, and aligns with India's 'Make in India' initiative. Both companies expressed their commitment to long-term collaboration, reflecting a strategic alignment with India's defence goals under Prime Minister Modi's leadership.
Published: Jun 25 2025, 8 pmeznews.inTIL Ltd., a Kolkata-based manufacturer, has established a dedicated strategic business unit (SBU) for defence products, aiming to enhance its offerings in the sector, which include cranes, amphibious vehicles, and missile platforms for systems like Akash and BrahMos. With a history in defence dating back to 1965, TIL has two manufacturing facilities in Kolkata and Kharagpur, which currently produce defence equipment. The newly formed TIL Defence SBU will focus on developing next-generation missile launch systems and other advanced military solutions, while leveraging existing resources rather than building new factories. The company, acquired by Gainwell Group in January 2024, reported a significant revenue increase of ₹343 crore for FY25, with a substantial portion attributed to defence contracts. TIL's Chief Operating Officer, Pinaki Niyogy, emphasized the importance of clear governance in managing both defence and civilian products to avoid conflicting signals in the market.
Published: Jun 25 2025, 8 pmeznews.inThe Rashtriya Kisan Mahasangh (RKM), an Indian farmers' forum, has voiced strong opposition to ongoing negotiations for a free trade agreement (FTA) with the United States, expressing concerns that the US intends to offload its subsidised agricultural products, including wheat, corn, pork, chicken, soybeans, and milk, into the Indian market. The RKM highlighted that the US, a major agricultural subsidiser, has accumulated surplus stocks due to its trade war with China, which could threaten local farmers if import duties are reduced. The group plans to collaborate with the Samyukta Kisan Morcha, a coalition of farmers' unions, to resist the FTA. Additionally, the RKM raised issues regarding cultural sensitivities, noting that US dairy products may contain ingredients that conflict with Indian dietary practices, and criticized the lack of stringent labeling requirements for such imports.
Published: Jun 25 2025, 9 pmeznews.inAt the MSME Growth Conclave in Bengaluru on Wednesday, Karnataka Minister Priyank Kharge emphasized the need for a robust ecosystem to support Micro, Small, and Medium Enterprises (MSMEs), which he described as the backbone of India's economy. He urged a shift away from reliance on foreign firms, advocating for domestic manufacturing to meet local demand. The event brought together policymakers and industry leaders, including Ananth Narayanan, who highlighted a "golden phase" for Indian entrepreneurship due to increased global opportunities and risk capital availability. Discussions also focused on defence manufacturing, with Lt Col Velan stressing the importance of aligning with global standards. The conclave underscored the necessity for enhanced public-private collaboration and stable policies to boost competitiveness, as noted by Vijay Peri. The event was supported by various institutions, including Nitte Deemed to be University and NABARD, showcasing a collective effort to strengthen India's industrial future.
Published: Jun 25 2025, 9 pmeznews.inIndia's horticulture production has reached a record high of 367.72 million tonnes (mt) for the 2024-25 crop year, driven by a significant surge in potato output to over 60 mt and a 6.5 mt increase in onion production. The Centre reported a 3.66% rise in overall horticulture output from 354.74 mt in the previous year, despite only a slight increase of 1.81 lakh hectares in cultivated area. Union Agriculture Minister Shivraj Singh Chouhan highlighted the contributions of farmers and supportive government policies in achieving this milestone. Vegetable production rose by 6.02% to 219.67 mt, with notable gains in onions, potatoes, and green chillies, while fruit production increased by 1.36% to 114.51 mt, led by watermelon and banana. Prices for vegetables and fruits remained stable, with government interventions to manage inflation during the year.
Published: Jun 25 2025, 8 pmeznews.inIndia's economic activity showed resilience in May 2025, despite global uncertainties, according to the Reserve Bank of India's (RBI) latest bulletin. High-frequency indicators, including E-Way bills and Goods and Services Tax (GST) revenue, indicated robust growth, with GST collections exceeding ₹2 lakh crore for the second consecutive month. However, urban demand exhibited signs of moderation, particularly in passenger vehicle sales, while rural demand surged, bolstered by a strong agricultural sector. Inflation remained benign, with headline inflation at 2.8%, the lowest since February 2019, driven by record crop production. Despite these positive indicators, RBI staffers warned of potential risks from ongoing trade policy uncertainties and geopolitical tensions, which could impact future economic prospects. Overall, consumer sentiment remains stable, reflecting optimism about the economy's resilience amid external challenges.
Published: Jun 25 2025, 7 pm
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