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Kerala's black pepper production has seen a dramatic decline, with the area under cultivation dropping by 15% from 85,431 hectares in 2014-15 to 72,669 hectares in 2023-24, resulting in a 25% decrease in output from 40,690 tonnes to 30,798 tonnes. Minister of State for Agriculture Ramnath Thakur attributed this downturn to various factors, including pests, diseases like foot rot, and the impact of severe floods in 2018 and 2019, which coincided with low market prices, discouraging farmers. Additionally, competition from more profitable crops and insufficient soil conservation measures have exacerbated the situation. To support farmers, the government has initiated programs through the Kerala State Horticulture Mission, focusing on quality planting materials and garden rehabilitation. Research institutions have also developed high-yield, disease-resistant pepper varieties, which now account for 70% of the country's production areas, aiming to boost productivity and restore interest in black pepper cultivation. 
Published: Apr 02 2025, 12 pmeznews.inMorgan Stanley has revised its outlook for the Indian economy, anticipating a potential 30-60 basis points reduction in its FY26 growth estimate of 6.5% due to new import tariffs imposed by the US. Following President Donald Trump's announcement of a 27% reciprocal tariff on Indian imports, the investment bank noted that the tariffs exceeded expectations and could undermine corporate confidence, thereby delaying capital expenditure (capex) cycles. In response to these challenges, Morgan Stanley predicts that Indian policymakers may pause fiscal consolidation and boost capex spending to bolster domestic demand. The bank also highlighted the importance of a forthcoming trade deal with the US, which could mitigate some of the negative impacts of the tariffs. Additionally, it expects the Reserve Bank of India to cut key lending rates by 25 basis points and adopt a more accommodative stance to support domestic demand amid uncertain external conditions.
Published: Apr 03 2025, 3 pmeznews.inUS President Donald Trump has reiterated his call for the Federal Reserve to cut interest rates during a Cabinet meeting on March 24, 2025, as he continues to influence monetary policy. Meanwhile, economists predict that India's economy may face lower growth due to the Trump Administration's recent imposition of reciprocal tariffs of 27% on Indian goods. A report from Morgan Stanley suggests that growth estimates for India could be revised down by 30-60 basis points from the projected 6.5% for FY26, citing both direct and indirect impacts from the tariffs. While the direct effect on exports is expected to be manageable, a slowdown in US growth and weakened corporate confidence could hinder domestic investment. As the Reserve Bank of India prepares for a Monetary Policy Committee meeting on April 7, analysts anticipate significant interest rate cuts to support economic growth amid these challenges.
Published: Apr 03 2025, 4 pmeznews.inThe installation of over 1.31 crore LED street lights under India's Street Lighting National Programme (SLNP) has led to significant energy savings of approximately 8.8 billion kWh annually, translating to monetary savings of around ₹6,178 crore for municipalities and gram panchayats. Launched in 2015, the initiative, managed by Energy Efficiency Services Limited (EESL), aims to enhance energy efficiency in public lighting. However, as of March 31, 2025, EESL is facing challenges due to outstanding dues of ₹2,700.54 crore from various states and urban local bodies, which the Power Minister, Manohar Lal, highlighted in a Lok Sabha response. Despite these financial hurdles, the SLNP has successfully promoted the adoption of energy-efficient street lighting, with local bodies now exploring alternative funding models to continue the initiative. The programme has been implemented across 69 state bodies, marking a significant step towards sustainable energy practices in India.
Published: Apr 03 2025, 4 pmeznews.inThe Nilgiri Bought Leaf Tea Manufacturers Association has urged the Tea Board to approve a broker billing model in its portal for the new financial year, aiming to enhance market accessibility and competitiveness for Nilgiri teas. Association president Dhananjayan Krishnamoorthy highlighted that this model, already prevalent in North India—which produces 80% of the nation’s tea—would attract a broader range of buyers and improve market visibility. He criticized the current seller billing system, which discourages leading blenders from participating directly in auctions and complicates transactions with multiple GST payments. The proposed broker billing system would streamline purchases by providing buyers with a single consolidated bill, thus simplifying the sales process. The association has called for the Tea Board's immediate intervention to facilitate the adoption of this model, addressing what they see as an unfair competitive disadvantage for Nilgiri manufacturers compared to their northern counterparts.
Published: Apr 03 2025, 4 pmeznews.inThe US Department of Commerce is assessing the impact of President Donald Trump's recent executive order imposing a 27% reciprocal tariff on India, while also exploring potential opportunities arising from this shift in US trade policy. India is optimistic that discussions on a Bilateral Trade Agreement (BTA) will yield exemptions and carve-outs, fostering a mutually beneficial resolution. The Department is engaging with stakeholders, including Indian exporters, to gauge the tariffs' effects and identify competitive advantages, particularly in sectors like textiles and electronics, where India's tariffs are lower than those faced by competitors such as China and Vietnam. Ongoing negotiations aim to enhance bilateral trade, with Prime Minister Narendra Modi and Trump targeting a trade increase to $500 billion by 2030. The executive order, effective from April 2025, establishes additional duties ranging from 10% to 50% on imports from various countries, with India facing a specific duty of 27%.
Published: Apr 03 2025, 2 pmeznews.inIndia's steel industry faces a potential crisis as China, burdened by a 34% US tariff, may redirect excess steel supply into the Indian market, threatening to lower prices and squeeze domestic producers' margins. Despite a 27% reciprocal tariff imposed by the US on Indian imports, steel has so far avoided additional duties, although the influx of nearly 5 million tonnes of low-cost steel from countries like Korea, Japan, and Vietnam could disrupt the sector. Currently, India's steel exports to the US are minimal, with only 95,000 tonnes annually, but the overall steel import volume has risen by 16% year-on-year. The domestic market, primarily driven by infrastructure and construction demand, may provide some relief, and the Directorate General of Trade Remedies has recommended a 12% safeguard duty on imports, which is under consideration. Industry leaders warn that while US tariffs may alter trade dynamics, they could also open new market opportunities for Indian manufacturers.
Published: Apr 03 2025, 3 pmeznews.inUS President Donald Trump unveiled an executive order on tariffs during a press event in the Oval Office, asserting that the new levies were "reciprocal" and reflective of how other nations have treated American goods. While he claimed to halve the tariff rates imposed by other countries on US imports, experts have since scrutinized the methodology behind these figures. Financial writer James Surowiecki highlighted that the rates appeared to be derived from the US trade deficit with each country divided by that country's exports to the US. This formula was corroborated by others, including Flexport CEO Ryan Petersen, who confirmed its consistency across various nations. Indian economists also noted that Trump's calculations aligned with India's trade deficit figures. However, the Office of the US Trade Representative disputed these claims, stating that the rates were based on a comprehensive analysis of both tariff and non-tariff barriers.
Published: Apr 03 2025, 3 pmeznews.inIndia's agricultural exporters are grappling with a new 27% reciprocal tariff imposed by the US, which affects key products including basmati rice, marine goods, and spices. Despite concerns from exporters, the Indian government remains optimistic, aiming to finalize a bilateral trade agreement (BTA) within six months to mitigate the tariff's impact. Previously, import duties ranged from 0-10%, but the new tariffs, effective April 5 and April 9, have raised alarms, particularly among exporters of non-ethnic products. However, basmati rice, which faces no competition from Pakistan due to a higher tariff, may benefit from the situation. Experts suggest that Indian exporters might seek cheaper sourcing options from countries like Brazil to remain competitive. The government is closely monitoring US consumer behavior to assess demand fluctuations, while industry leaders anticipate that the tariff could drive improvements in efficiency and product quality among Indian companies.
Published: Apr 03 2025, 3 pmeznews.inIn a significant update for Public Provident Fund (PPF) account holders, the Finance Ministry has announced the removal of the ₹50 fee for changing nominee details, effective April 2. This change was prompted by Finance Minister Nirmala Sitharaman, who noted that financial institutions were charging for such updates. The amendment is part of the Government Savings Promotion General Rules, 2018, and aims to simplify the process for account holders. Additionally, the recently passed Banking Amendment Bill, 2025, allows depositors to nominate up to four individuals for the payment of their deposits and the release of items from safety lockers, a notable increase from the previous limit of one nominee. However, this provision comes with conditions, as account holders must either prioritize nominees or specify their respective shares in the deposits.
Published: Apr 03 2025, 1 pmeznews.inA new 26 per cent tariff imposed by the US on Indian cashew imports is expected to enhance the competitiveness of Indian cashews in the US market, particularly against Vietnam, which faces a steeper 46 per cent tariff. According to Bola Rahul Kamath, President of the All India Cashew Association, this pricing advantage could make Indian cashews approximately 20 per cent cheaper than Vietnamese products. Currently, Vietnam dominates US cashew imports, supplying around 1.3 lakh tonnes compared to India's mere 7,000-8,000 tonnes. However, Kamath warns that long-term competition may arise from African producers, who benefit from a lower 10 per cent duty. Despite a recent decline in Indian cashew exports, industry leaders like J. Rajmohan Pillai of Beta Group anticipate a potential 200 per cent increase in exports to the US, provided India enhances its processing capabilities and sources raw cashew nuts from Africa.
Published: Apr 03 2025, 1 pm
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