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KRBL Ltd, renowned for its India Gate basmati rice, is venturing into the edible oils market with the launch of its "India Gate Uplife" range, which includes two new blended oil variants, Gut Pro and Lite, priced at ₹192-199 per litre. The company aims to capture a share of the ₹1.1 lakh tonne blended oils market, currently dominated by Saffola, targeting health-conscious consumers. KRBL's Business Head, Ayush Gupta, stated that the company expects to sell 2,000 tonnes and generate ₹50 crore in revenue this fiscal year, with ambitions to reach 8,000-10,000 tonnes and ₹200-300 crore in three years. The Gut Pro variant focuses on gut health, while Lite is aimed at weight management. With the Indian edible oil market totaling 243 lakh tonnes, KRBL plans to expand its product line to include more functional foods, addressing health issues beyond heart health. 
Published: Jul 08 2025, 3 pmeznews.inThe long-awaited 56th GST Council meeting remains in limbo, with no confirmed date or venue since its last gathering on December 21, 2024, in Jaisalmer, Rajasthan. Experts warn that the ongoing delay, exacerbated by the upcoming Monsoon Session of Parliament from July 21 to August 21, could deepen existing disputes and create a policy vacuum. The GST Council is required to meet quarterly, yet the current postponement is attributed to budget presentations and recent events, including the Pahalgam incident. Finance Minister Nirmala Sitharaman has indicated that preparations are underway to address key issues, such as GST rate reductions and the future of the compensation cess, which expires in March 2026. Industry experts express concern over the uncertainty affecting various sectors, highlighting the need for decisive action on critical matters like ITC eligibility and the establishment of a GST Appellate Tribunal to enhance compliance and resolve disputes.
Published: Jul 08 2025, 8 pmeznews.inCoconut prices in Kerala have surged to ₹75 per kg, a significant increase from last year's ₹28, impacting traditional temple rituals. At the Pazhavangadi Ganapathy Temple in Thiruvananthapuram, coconut offerings have dropped by approximately 30%, as devotees scale back on large offerings due to rising costs. Temple managements are also feeling the pinch; the Pazhavangadi temple has raised the price of coconut oil from ₹340 to ₹400 due to vendor supply issues. The upcoming Sabarimala pilgrimage, starting July 17, is expected to see heightened demand for coconuts, as devotees typically carry multiple for offerings. The price hike is attributed to a 25% global drop in coconut production, exacerbated by climate change and increased demand for value-added products. As the situation unfolds, the economic viability of coconut offerings remains uncertain, raising concerns for both devotees and temple administrations.
Published: Jul 08 2025, 8 pmeznews.inThe investigation into the recent Air India crash in Ahmedabad is being led by the Director General of the Aircraft Accident Investigation Bureau (AAIB), which has begun analyzing data from the aircraft's black boxes. A parliamentary panel expressed concerns over air safety during a meeting originally intended to discuss airport levy charges, with MPs demanding clarity on the investigation's timeline and the criteria for selecting the crash probe committee. The Ministry of Civil Aviation (MoCA) reported that a multidisciplinary team was formed on June 13, 2025, to examine the cockpit voice and flight data recorders, aiming to reconstruct the events leading to the accident. Additionally, the International Civil Aviation Organization (ICAO) has been granted observer status in the investigation, which includes experts from the US National Transportation Safety Board (NTSB) to ensure adherence to global aviation standards.
Published: Jul 08 2025, 8 pmeznews.inA coalition of ten central trade unions, supported by farmers' unions, has called for a nationwide strike against four controversial labour codes, demanding the government host an Indian Labour Conference (ILC) for the first time since 2015. The Bhartiye Mazdoor Sangh (BMS), backed by the RSS, has opted out of the strike, citing the government's responsiveness to their suggestions for amending the labour codes. Key demands from the striking unions include the withdrawal of fixed-term employment, scrapping the Agnipath scheme, a restoration of the Old Pension Scheme, and a minimum pension of ₹9,000 for EPFO subscribers. They also seek recognition and benefits for scheme workers and a climate resilience fund. Additionally, the farmers' group, Samyukta Kisan Morcha, has urged support for the strike, opposing free trade agreements that they argue threaten Indian agriculture by allowing subsidized foreign products to flood the market.
Published: Jul 08 2025, 8 pmeznews.inIndia's steel imports have seen a significant decline, with June shipments dropping to 0.43 million tonnes (mt), a nearly 33% decrease compared to the same month last year. This downturn is attributed to tightened safeguard duties and a resurgence in domestic steel pricing, which has become more competitive than Chinese imports. The domestic market now sees prices ranging from ₹50,000 to ₹50,700 per tonne, about 2-3% lower than landed Chinese steel. In the first quarter of FY26, total imports fell nearly 30% year-on-year to 1.4 mt, with benchmark hot rolled coil (HRC) imports also down by 30% to 1 mt. Despite this, India remains a net importer, with exports rising to 0.45 mt in June. Market analysts note a prevailing weak sentiment in the domestic market, driven by low demand and monsoon disruptions, while steel mills have maintained prices steady into July.
Published: Jul 08 2025, 7 pmeznews.inInvestments in Indian agritech are on the rise, rebounding to $411.74 million in 2024 from $320 million the previous year, according to a recent ThinkAg report. This recovery follows a challenging 2023, where investments plummeted by 65% to $901 million, mirroring broader sector trends. While deal volumes fell to 61 in 2024, the focus remained on existing portfolio companies, with 82% of deals being follow-on funding. Hemendra Mathur, co-founder of ThinkAg, expressed optimism for 2025, predicting investments could reach between $500 million and $800 million, driven by a shift towards profitability and realistic valuations. Downstream agtech attracted the most funding, while precision agtech emerged as a new area of interest. Foodtech also saw an 18% increase in investment, bolstered by strong consumer demand. The cautious investment approach is expected to persist, reflecting a growing awareness of India's food loss challenges.
Published: Jul 08 2025, 8 pmeznews.inThe Employees’ Provident Fund Organisation (EPFO) is set to finalize the crediting of interest for the fiscal year 2024-25, with a rate of 8.25 percent, as confirmed by Labour Minister Mansukh Mandaviya. As of July 8, interest has been credited to 32.39 crore member accounts across 13.86 lakh establishments, marking a completion rate of 99.9 percent for establishments and 96.51 percent for member accounts. This year's process has been expedited compared to the previous fiscal, where crediting began in August and concluded in December. The interest rate for FY25, approved by the Central Government on May 22, remains unchanged from the previous year. The EPF continues to offer competitive returns compared to other fixed-income instruments, ensuring reliable growth for post-retirement savings. The interest rate was slightly increased from 8.15 percent in 2022-23, following a historic low of 8.1 percent in 2021-22.
Published: Jul 08 2025, 8 pmeznews.inIn a recent meeting, the Food Safety and Standards Authority of India (FSSAI) issued a stern warning to e-commerce and quick commerce platforms regarding compliance with food safety and hygiene regulations. Officials mandated that these platforms prominently display their FSSAI license or registration numbers on all consumer receipts, invoices, and cash memos. This directive follows reports of hygiene violations and actions taken by state governments against certain entities. FSSAI CEO G Kamala Vardhana Rao stressed the critical importance of food safety in the expanding online marketplace, stating that non-compliance could lead to severe repercussions. The meeting, attended by over 70 representatives, also highlighted the need for e-commerce platforms to disclose warehouse details on the FoSCoS portal and ensure that all food handlers undergo compulsory food safety training. The FSSAI reiterated that all parties in the supply chain must adhere to established safety protocols and maintain transparency.
Published: Jul 08 2025, 8 pmeznews.inSpace technology firm Kepler has secured a significant contract under India's Innovations for Defence Excellence (iDEX) initiative, aimed at enhancing the country's defence capabilities. Signed on July 4, 2025, the contract includes $4 million in government grants and launch services, enabling Kepler to develop a six-satellite intelligence, surveillance, and reconnaissance (ISR) swarm constellation for the Defence Space Agency and the Ministry of Defence, with a launch planned for 2027. CEO Navneet Singh emphasized that this contract marks a transformative step in space-based intelligence, as the satellites will operate as a self-coordinating swarm, capable of autonomous decision-making and real-time communication to track threats and gather data without ground control. The iDEX initiative, launched by the Ministry of Defence, aims to support innovation and collaboration among startups and tech companies to address India's defence needs. Kepler specializes in AI/ML-enabled satellite systems for national security and commercial applications.
Published: Jul 08 2025, 6 pmeznews.inA detailed project report (DPR) for the doubling of the railway line between Hassan and Mangaluru is expected to be completed by April 2026, as announced during a District Development Coordination and Monitoring Committee (DISHA) meeting in Mangaluru. The Mysuru Division of South Western Railway is currently conducting a final location survey (FLS) for the project, with the tender for this work awarded on April 18, 2025. The scope includes environmental and social impact assessments alongside the DPR. The proposed 247-km double line will feature 120 km of plain sections and 127 km of ghat sections, with a new ruling gradient of 1 in 100, allowing for a maximum speed of 100 km/h, up from the current 30 km/h. Capt Brijesh Chowta urged railway officials to hold tri-monthly meetings to monitor progress on railway projects in the Dakshina Kannada district.
Published: Jul 08 2025, 6 pm
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