eznews.in
The Chairman of Deendayal Port Authority, Sushil Kumar Singh, has pledged to enhance the supply chain for edible oil through significant infrastructure improvements and collaboration with stakeholders. In a recent meeting with the Indian Vegetable Oil Producers’ Association (IVPA), Singh outlined plans to install new 14-inch pipelines and prepare two additional berths for efficient oil discharge, aimed at reducing congestion and improving vessel turnaround times. He acknowledged the IVPA's concerns regarding penal berth hire charges for delayed discharges, advocating for a system that avoids shifting vessels to outer anchorage. Singh emphasized the need for coordinated efforts between port officials and importers to minimize delays and ensure timely discharge operations. He also encouraged vessel agents to proactively identify potential issues during daily meetings to facilitate smoother operations. Singh's commitment to stakeholder engagement is seen as vital for streamlining processes and enhancing operational efficiency at Kandla Port. 
Published: Jun 23 2025, 2 pmeznews.inThe monsoon remains active across parts of North-West and eastern India, while Central India experiences a relative lull, according to the India Meteorological Department (IMD). As of Monday, the country has a slight overall rain deficit of 1%, but regions like Vidarbha and Telangana face significant shortfalls of 57% and 44%, respectively. Heavy rainfall is forecasted for West Madhya Pradesh over the next few days, with isolated heavy showers expected in Bihar, Jharkhand, and Odisha. The northern limit of the monsoon is advancing, with conditions favorable for its spread into parts of Haryana, Chandigarh, and Delhi. A low-pressure area is anticipated to develop over the north-west Bay of Bengal, potentially enhancing monsoon activity. Predictions suggest that the heaviest rainfall may occur in Rajasthan, Punjab, and Gujarat by early July, as the monsoon continues to evolve.
Published: Jun 23 2025, 6 pmeznews.inAs India’s Goods and Services Tax (GST) marks its eighth anniversary, corporate confidence has surged, with a recent Deloitte survey revealing an increase of 26 percentage points in three years, bringing confidence levels to 85% in 2025, up from 59% in 2022. This positive sentiment is attributed to enhanced transparency and simplification in tax processes, improved Input Tax Credit (ITC) flow, and the removal of legacy taxes and state check posts. However, nearly 10% of respondents reported a neutral experience, indicating areas for improvement, particularly in expense management and ITC accessibility. Concerns were also raised regarding clarity on new proposals and the handling of GST audits. Deloitte's Mahesh Jaising emphasized the need for forward-looking reforms, including AI-driven compliance tools and a robust dispute resolution mechanism, to fully realize the potential of GST 2.0 and foster a more agile tax ecosystem.
Published: Jun 23 2025, 6 pmeznews.inAndhra Pradesh Chief Minister N Chandrababu Naidu has unveiled the state's new Aerospace and Defence Policy 4.0, targeting investments between ₹50,000 crore and ₹1 lakh crore over the next five years to position Andhra Pradesh as India's leading aerospace and defence manufacturing hub. During a review meeting in Amaravati, Naidu emphasized the importance of advanced technologies and innovation, directing officials to establish a ₹100 crore annual fund to support MSMEs in these sectors. The policy outlines specialized manufacturing corridors for naval systems, missile production, drone technologies, and aerospace electronics, with Tirupati set to become a research and development centre. Notably, companies like Bharat Forge and MMW are poised to invest in the Madakasira cluster. Currently, 23 firms have invested ₹22,000 crore in the state's aerospace and defence sectors, generating 17,000 jobs, as India’s annual defence market is valued at ₹1.27 lakh crore.
Published: Jun 23 2025, 4 pmeznews.inThe Balanagar custard apple, a distinctive variety from Telangana, is seeking Geographical Indication (GI) registration to safeguard its unique identity. Known for its high pulp content, minimal seeds, and long shelf life, the fruit has garnered attention from three farmer-based organisations, which have applied for the GI tag with support from the National Bank for Agriculture and Rural Development (NABARD). Saidaiah Pidigam, a scientist at Sri Konda Laxman Telangana Horticultural University, played a crucial role in documenting the fruit's unique characteristics. The Balanagar custard apple's exceptional qualities stem from the region's diverse agro-climatic conditions, making it suitable for both fresh consumption and industrial processing. If granted, the GI tag will enhance its brand identity and provide access to premium markets, marking it as the fourth custard apple variety to receive such recognition in India. This application is part of Telangana's broader initiative, with 6-8 GI filings planned for various products.
Published: Jun 23 2025, 5 pmeznews.inDimitra Incorporated, based in the British Virgin Islands, is at the forefront of transforming verified agricultural data into blockchain-based financial instruments through its digital token, $DTMR. This ERC-20 token, built on the Ethereum blockchain, aims to enhance financing and market access for farmers in regions like Kenya, Mexico, and Brazil. CEO Jon Trask emphasized that the tokenization of real-world assets, including crops and carbon credits, empowers small and medium-sized farmers by connecting them to digital markets. Dimitra's Agriculture Operating System integrates blockchain, AI, IoT, and satellite services to optimize farming practices. The company also supports compliance with sustainability regulations, such as the EU Deforestation Regulation, by providing tools for traceability and documentation. With a presence in key regions like India and Indonesia, Dimitra is committed to bridging the technology gap in agriculture and fostering climate-resilient farming systems globally.
Published: Jun 23 2025, 5 pmeznews.inBritish Airways and Singapore Airlines have canceled multiple flights to the Persian Gulf amid escalating tensions following U.S. military strikes on Iranian nuclear sites. British Airways, based in London, has halted flights to Dubai and Doha, diverting two aircraft already en route, with one returning to Heathrow from as far as Egypt. The airline cited operational constraints and airspace restrictions for these cancellations, emphasizing passenger safety. Singapore Airlines also suspended two flights to Dubai, warning of potential further disruptions. Other carriers, including Japan Airlines and Air India, are rerouting flights to avoid the Persian Gulf airspace, adding extra travel time. This wave of cancellations and adjustments follows President Trump's unprecedented military action against Iran, raising concerns about potential retaliation and further aviation disruptions in the region. The situation remains fluid, with airlines closely monitoring developments.
Published: Jun 23 2025, 4 pmeznews.inA recent ICRA report highlights that escalating tensions in West Asia could significantly impact India's economy, with crude oil prices potentially rising by $10 per barrel, leading to an increase in net oil imports by $13-14 billion and widening the current account deficit (CAD) by 0.3% of GDP. If average crude prices reach $80-90 per barrel in FY2026, the CAD may expand to 1.5-1.6% of GDP, up from the current estimate of 1.2-1.3%. The report attributes the price surge to the ongoing conflict between Iran and Israel, which has already pushed prices from $64-65 to $74-75 per barrel. With Iran threatening to close the Strait of Hormuz, a critical global energy transit route, supply disruptions could further elevate energy prices. Additionally, the report notes that any sustained supply issues could lead to increased reliance on the spot LNG market, as 54% of India's natural gas imports transit through this chokepoint.
Published: Jun 23 2025, 4 pmeznews.inIn a significant development for India's defense sector, drone technology firm ideaForge Technology has secured a ₹137 crore order from the Indian Army for its high-performance hybrid mini unmanned aerial vehicles (UAVs). This procurement, conducted through an emergency route, underscores the Army's focus on acquiring battle-tested systems for Intelligence, Surveillance, and Reconnaissance (ISR) operations. A key criterion for the selection was that all critical sub-components be sourced from non-border-sharing nations, ensuring a substantial indigenous capability and design. ideaForge, which operates research and development and manufacturing facilities in Navi Mumbai, Bengaluru, Delhi, and the US, highlighted the importance of this order in enhancing the Army's operational capabilities. The announcement comes amid ongoing efforts to bolster India's defense technology and self-reliance in military equipment.
Published: Jun 23 2025, 4 pmeznews.inThe ongoing conflict between Iran and Israel has severely disrupted rice exports from Haryana, which supplies 30% of India's basmati rice to Iran. Sushil Jain, president of the Rice Exporters Association's state unit, reported that around 100,000 metric tonnes of basmati rice are currently stuck at ports, with payments of ₹1,500 to ₹2,000 crore for nearly 200,000 metric tonnes also delayed. The situation has led to a decline in rice prices in India, as exporters face additional challenges, including a lack of insurance for vessels amid the conflict. Iran is India's second-largest basmati rice market, with exports reaching approximately 1 million tonnes in the 2024-25 fiscal year. Prime Minister Narendra Modi has expressed India's concern over the escalating hostilities, advocating for dialogue and diplomacy to resolve the situation, which has intensified following recent US military actions against Iranian nuclear sites.
Published: Jun 23 2025, 4 pmeznews.inIndia's basmati rice exports to Iran are facing significant disruptions, with approximately 100,000 tonnes of rice stranded at Indian ports due to the ongoing Israel-Iran conflict. Satish Goyal, president of the All India Rice Exporters Association, highlighted that Iran accounts for 18-20% of India's basmati rice exports, and the shipments are primarily held up at Kandla and Mundra ports in Gujarat. The conflict has rendered vessels and insurance unavailable for Iran-bound cargo, as standard shipping policies typically exclude international conflicts. This situation has already led to a ₹4-5 per kg drop in domestic basmati rice prices, causing financial strain for exporters. The association is coordinating with the agri-export promotion body APEDA and has scheduled a meeting with Union Commerce Minister Piyush Goyal on June 30 to address the crisis. Iran is India's second-largest market for basmati rice, following Saudi Arabia.
Published: Jun 23 2025, 3 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact