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The Khadi and Village Industries Commission (KVIC) announced a record sales figure of over ₹1.7 lakh crore for the fiscal year 2024-25, marking a 9.5% increase from ₹1.56 lakh crore in FY24. Production also saw significant growth, rising to approximately ₹1.17 lakh crore, an 8% increase from the previous year. KVIC Chairman Manoj Kumar highlighted that production has quadrupled since FY14, with sales increasing nearly five-fold during the same period. Cumulative employment in the sector rose to 1.94 crore in FY25, a 49% increase from 1.3 crore in FY14, largely attributed to the Pradhan Mantri Employment Generation Program (PMEGP), which has established over 10 lakh units. Notably, over 57% of the 7.43 lakh trainees in the last decade were women, and wages for khadi artisans have surged by 275% over 11 years, with a 100% increase in the last three years. 
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Apr 21 2025, 9 pmeznews.inIn a groundbreaking move for the 2028 Los Angeles Olympics, Archer Aviation has unveiled its piloted electric air taxi, named Midnight, which will transport up to four passengers between key venues via a network of vertiports. The service aims to provide a quieter, low-emission alternative to traditional helicopters, with flights expected to take between 10 to 20 minutes. Key locations in the network include SoFi Stadium, the Los Angeles Memorial Coliseum, and Los Angeles International Airport. Archer's CEO, Adam Goldstein, emphasized the company's goal to revolutionize transportation in Los Angeles, particularly during the Games. The eVTOL aircraft is designed with advanced safety features and aims for FAA certification comparable to commercial airliners. As an official provider for the LA 2028 Olympics, Archer will also support emergency services and security, marking a significant innovation in the Olympic experience, according to LA chairperson Casey Wasserman.
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May 16 2025, 10 ameznews.inThunderstorms have been observed over the Bay of Bengal and parts of India, including Telangana, Rayalaseema, Goa, and Coastal Karnataka, as pre-monsoon weather patterns take hold. The India Meteorological Department (IMD) forecasts the southwest monsoon to reach Kerala around May 27, with potential advancement into North-East India simultaneously. Isolated heavy rainfall is expected along the west coast, particularly in Konkan, Goa, Coastal Karnataka, and Kerala, while North-West and North-East India may experience below-normal activity. Current neutral conditions in the equatorial Pacific, resembling La Niña, are contributing to vigorous pre-monsoon showers, with the overall rainfall deficit reduced to just 2%. The IMD anticipates above-normal monsoon rainfall this year, with most global models supporting this outlook. An official announcement regarding the monsoon's arrival in Sri Lanka is also awaited, as satellite imagery shows rain cover over coastal regions.
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May 16 2025, 10 ameznews.inUnion Minister for Agriculture and Farmers' Welfare, Shivraj Singh Chauhan, inaugurated the new Academic cum Administrative building of the College of Horticulture in Thenzawl and a PG girls' hostel at the College of Veterinary Sciences & Animal Husbandry in Selesih via video conference. Mizoram Governor Gen. Dr. VK Singh participated online, while Chief Minister Lalduhoma attended in person. Chauhan expressed regret for his absence due to adverse weather conditions but highlighted Mizoram's potential for horticulture, noting that only 10% of its cultivable land is currently utilized. He emphasized the importance of promoting farmers' producer organizations (FPOs) and sustainable practices to tap into the global organic market. Chief Minister Lalduhoma praised the colleges as vital educational assets for the region, while Anupam Mishra, Vice Chancellor of Central Agriculture University, acknowledged the support from leaders for the development of these institutions.
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May 16 2025, 9 ameznews.inIndia's economic growth forecast for 2025 has been revised down to 6.3%, according to a United Nations report released on Thursday. Despite this adjustment from the previous estimate of 7.1% for 2024, India remains one of the fastest-growing large economies, buoyed by strong private consumption and public investment. The report highlights a precarious global economic landscape, with heightened trade tensions and rising tariffs threatening production costs and supply chains. While India's inflation is expected to decrease from 4.9% in 2024 to 4.3% in 2025, the Reserve Bank of India has begun easing its policy rate. The global GDP growth forecast has also been downgraded to 2.4% for 2025, reflecting broader economic challenges affecting both developed and developing nations. The report underscores the need for multilateral cooperation to address these issues and support vulnerable economies facing declining growth and rising debt.
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May 16 2025, 8 ameznews.inAdani Airport Holdings has terminated its ground handling concession agreements with Turkish firm Celebi for Mumbai and Ahmedabad airports following the Indian government's revocation of Celebi's security clearance. The company has instructed Celebi to promptly transfer all ground handling facilities to ensure seamless operations. Adani Airport Holdings, which manages several airports including Mangalore, Guwahati, and Jaipur, assured that it will maintain uninterrupted service to airlines through newly appointed ground handling agencies. All existing Celebi employees at the affected airports will be transferred to these new agencies under their current employment terms. A spokesperson emphasized the company's commitment to high service standards and national interests, stating that ground handling operations will remain unaffected by this transition.
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May 16 2025, 8 ameznews.inSingapore Airlines (SIA) has reported a record net profit of $2.8 billion for FY25, bolstered by a significant one-off non-cash accounting gain of $1.1 billion from the merger of Air India and Vistara. This merger, completed in collaboration with Tata Sons, resulted in SIA acquiring a 25.1% stake in the newly expanded Air India Group. Despite facing fierce market competition that has led to lower yields, SIA achieved a robust operating profit of $1.7 billion, driven by record passenger numbers. The airline also announced a final dividend of 30 cents per share for FY2024-25, totaling 40 cents per share for the year. Looking ahead, SIA remains optimistic about its growth prospects, even amid ongoing challenges in the global aviation sector.
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May 16 2025, 7 ameznews.inThe government announced on Thursday that the unemployment rate (UR) for April stands at 5.1%, marking the first monthly data release under a revised methodology, which precludes direct comparisons. The Periodic Labour Force Survey (PLFS) by the National Statistics Office indicates a UR of 4.9% for the calendar year 2024. Notably, the male UR is slightly higher at 5.2% compared to 5% for females. The survey, which involved over 89,000 households, defines unemployment based on a person's availability for work during the week. In rural areas, the UR for men aged 15 and above is 4.9%, while for women it is 3.9%. Urban women face a higher UR of 8.7%, compared to 5.8% for men. The Labour Force Participation Ratio (LFPR) is 79% for rural men and 38.2% for rural women, with urban figures at 75.3% for men and 25.7% for women.
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May 15 2025, 10 pmeznews.inThe Bureau of Civil Aviation Security has revoked the security clearance of Turkish ground handling company Celebi, citing national security concerns linked to Turkey's support for Pakistan during Operation Sindoor. Celebi, which has operated in India for over a decade, provides passenger and cargo handling services at nine major airports, including Delhi, Mumbai, and Bengaluru, managing around 160 flights daily with a workforce of 7,800. In light of the revocation, other ground handling companies, such as Bird Group and AI Airport Services Ltd, are poised to take over Celebi's contracts and staff to ensure continuity of operations and minimize job losses. Celebi's management has defended its operations, asserting that the business is led by Indian citizens and complies with local regulations. Despite efforts to persuade officials against the decision, the company faces scrutiny amid rising security concerns regarding its Turkish origins.
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May 15 2025, 8 pmeznews.inU.S. President Donald Trump's recent comments on tariffs and trade negotiations with India have sparked a strong response from Indian External Affairs Minister S. Jaishankar. During a press conference, Trump claimed that India had agreed to a trade deal with no tariffs on American products, a statement Jaishankar countered by emphasizing the complexity of ongoing negotiations and the need for a mutually beneficial agreement. As Commerce and Industry Minister Piyush Goyal prepares for talks in Washington from May 17-20, he faces pressure from Trump's tough stance, particularly after the U.S. imposed reciprocal tariffs on countries with trade surpluses, including a 26% levy on India. Goyal aims to finalize a bilateral trade agreement (BTA) before July 8 to avoid further tariffs, with both sides targeting a preliminary deal by Fall 2025.
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May 15 2025, 9 pmeznews.inIndian exporters kicked off the fiscal year 2025 on a positive note, with outbound shipments in April rising 9.03% year-on-year to $38.49 billion, driven by strong performances in engineering goods, petroleum products, and electronics. However, the trade deficit surged to a five-month high of $26.42 billion, as imports soared 19.12% to $64.91 billion, largely due to increased shipments of crude oil and electronics, according to the Commerce Department. Commerce Secretary Sunil Barthwal highlighted the resilience of Indian exporters, overcoming previous challenges such as disrupted trade routes and rising transport costs. The Federation of Indian Export Organisations (FIEO) emphasized the need for stable policies and improved logistics to sustain growth, particularly for MSMEs. Notably, nine of India's top ten exports saw increases, with only organic and inorganic chemicals experiencing a slight decline. In FY25, total goods exports saw a marginal rise to $437.42 billion.
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May 15 2025, 9 pm
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