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Oil marketing companies (OMCs) in India are projected to see a 45% reduction in LPG losses in FY26, contingent on stable crude oil prices at $65 per barrel, according to a CareEdge Ratings report. The anticipated decrease in cumulative LPG under-recoveries is attributed to a combination of increased retail prices and declining international LPG costs. Currently, about 90% of LPG consumption is for household cooking, with the number of domestic consumers doubling to approximately 33 crores over the past decade. In FY25, OMCs faced significant under-recoveries of nearly ₹220 per 14.2 kg cylinder, leading to a total loss of ₹41,270 crore and a drop in combined profit after tax from ₹85,000 crore in FY24 to ₹35,000 crore in FY25. A recent ₹50 price hike per cylinder and a decline in the Saudi Contract Price are expected to further alleviate these losses in FY26. 
Published: May 17 2025, 2 pmeznews.inThe import of tempered glass for smartphones from China is set to persist, driven by grey market activities and a lack of local manufacturing interest. Official figures indicate that imports surged to ₹4,035.73 crore from April 2024 to January 2025, marking an 81.45% year-on-year increase. However, actual numbers could be significantly higher due to illegal imports. Despite major brands like Apple and Samsung producing premium smartphones in India, few companies are willing to establish local manufacturing facilities. Industry experts highlight the potential for job creation and improved product quality if local production begins. The Ministry of Electronics and Information Technology and the Bureau of Indian Standards are working on standardisation to combat the evasion of import duties and GST, which has led to substantial revenue losses. A report by the India Cellular and Electronics Association predicts the screen protector market could reach 55 crore units valued at ₹25,000 crore by 2025, underscoring the need for quality standards.
Published: May 17 2025, 7 pmeznews.inMangaluru International Airport reported a significant 15.34% growth in passenger traffic for the financial year 2024-25, accommodating 2.33 million passengers compared to 2.01 million in the previous year. This increase translates to an additional 309,709 passengers, marking a 24.1% rise from pre-COVID levels in 2019-20. The surge was primarily driven by domestic travel, with 1.61 million passengers recorded, a 14.55% increase from the prior year, while international passenger numbers rose by 17.15% to 715,255. The airport also experienced an 11.26% rise in air traffic movements, totaling 16,816, with international ATMs increasing by 22.14%. Cargo operations saw a boost as well, handling 3,864.1 tonnes of domestic cargo and initiating international cargo services in July 2024, which accounted for 1,347.07 tonnes. April 2025 marked a record month, with the airport managing 217,893 passengers, including a single-day high of 8,103 on April 12.
Published: May 17 2025, 4 pmeznews.inAlcoholic beverage manufacturers in India are projected to see revenue growth of 8-10% to ₹5.3 lakh crore by fiscal 2026, following a robust compound annual growth rate of 13% over the past three years, according to a report by Crisil Ratings. The report highlights that operating profitability is expected to rise by 60-80 basis points, driven by a trend towards premiumisation. Spirits dominate the market, accounting for 65-70% of total revenue, with a notable increase in the premium segment, which is anticipated to grow by 15%. Despite rising input costs for key materials like extra neutral alcohol and barley, companies are likely to implement price hikes of 3-4% to offset these increases. The industry is currently operating at 70-75% capacity, allowing for further expansion without significant debt-funded capital expenditure. Overall, the outlook remains positive, supported by urbanisation and a growing drinking population.
Published: May 17 2025, 3 pmeznews.inThe Indian government is set to launch a digital platform for the electronic submission of documents in trade remedy investigations, aimed at enhancing transparency and efficiency for stakeholders, according to a statement from the commerce ministry. The Directorate General of Trade Remedies (DGTR), which has conducted over 1,200 investigations since 1995, plays a crucial role in protecting domestic industries from unfair trade practices, including dumping and subsidies. Recent efforts have safeguarded sectors such as solar energy and advanced materials from detrimental imports. The new platform is expected to streamline the investigation process, which is vital for defending sensitive sectors against the impacts of trade liberalisation. The DGTR, established in 2018 through the merger of two previous directorates, also contests foreign trade remedy measures, successfully reducing duties or securing relief for Indian exports, thereby safeguarding the country's international trade interests.
Published: May 17 2025, 3 pmeznews.inIn a notable financial update, the SENSEX closed at 82,330.59, down by 200.15 points, while the NIFTY fell 42.30 points to settle at 25,019.80. In commodity markets, crude oil prices saw a slight increase, rising by 5.00 to reach 5,356.00, whereas gold and silver experienced declines, with gold dropping by 689.00 to 92,480.00 and silver falling by 618.00 to 95,297.00. Meanwhile, K K Birla's sugar companies, Avadh Sugar and Magadh Sugar, reported significant growth in their fourth-quarter profits for the fiscal year 2024-25. Avadh Sugar's net profit rose to ₹72 crore from ₹55 crore year-on-year, with total income increasing to ₹678 crore. Similarly, Magadh Sugar's net profit also reached ₹72 crore, up from ₹47 crore, with total income climbing to ₹356 crore.
Published: May 17 2025, 3 pmeznews.inIn a significant move to bolster climate technology initiatives, the Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with the Global Energy Alliance for People and Planet (GEAPP) to support early-stage climate-tech start-ups. The collaboration, announced on May 17, 2025, includes the launch of the Energy Transitions Innovation Challenge (ENTICE), which will offer rewards of up to $500,000 for impactful climate solutions. Investment support will be provided through partners such as Spectrum Impact and Avana Capital. Sanjiv, a Joint Secretary in the DPIIT, emphasized that this partnership will create substantial opportunities for clean energy start-ups, aiding in the advancement of technologies aligned with India's long-term net-zero goals. The memorandum of understanding was signed by DPIIT Director Sumeet Jarangal and GEAPP Vice President Saurabh Kumar.
Published: May 17 2025, 2 pmeznews.inThe Bangalore Wholesale Cloth Merchants Association (BWCMA) has announced an immediate suspension of all textile trade with Turkey and Azerbaijan, citing these countries' recent support for Pakistan following 'Operation Sindoor.' This unanimous decision, articulated by BWCMA President Prakash Pirgal, reflects the association's commitment to ethical business practices and national sentiment. The resolution mandates that members halt all imports and exports of textile goods to and from these nations, including any indirect trade through intermediaries. Pirgal emphasized the importance of taking principled stands, noting that the association, which comprises around 3,000 wholesale shops in Bengaluru, engages in significant trade with Turkey and Azerbaijan. He highlighted India's past humanitarian support to Turkey, contrasting it with the latter's current stance. The BWCMA has urged all relevant stakeholders to comply with this trade suspension until further notice.
Published: May 17 2025, 2 pmeznews.inKempegowda International Airport in Bengaluru has achieved a significant milestone by reporting a record profit for the first time since its inception, marking a robust financial turnaround. The announcement was made during a board meeting led by Shalini Rajneesh, Chairperson of the Bangalore International Airport Authority (BIAL). The airport's success is attributed to its strategic growth, sustainability initiatives, and operational excellence. In 2025, BLR Airport also garnered multiple prestigious global recognitions, including becoming the first airport in Asia to achieve Level 5 Accreditation under the Airport Carbon Accreditation programme, reflecting a remarkable 95.6% reduction in greenhouse gas emissions. Additionally, it received the Silver Award in the ACI Green Airports Recognition 2025 for its sustainable energy efforts, underscoring its commitment to environmental leadership for the fourth consecutive year.
Published: May 17 2025, 12 pmeznews.inIn the latest market update, the SENSEX closed at 82,330.59, down by 200.15 points, while the NIFTY fell 42.30 points to settle at 25,019.80. In commodities, crude oil prices rose by 82.00 to reach 5,353.00, whereas gold and silver saw declines, with gold dropping 738.00 to 92,431.00 and silver decreasing by 600.00 to 95,315.00. Meanwhile, a report from Crisil Ratings highlights a significant rise in storage-backed renewable energy (RE) projects, which surged to 11 gigawatts (GW) in 2024, accounting for one-third of total capacities auctioned. The installed capacity is projected to reach 25-30 GW by March 2028, driven by government initiatives to enhance grid stability and sustainability. However, challenges remain, including project implementation risks, although off-take risks are considered low for half of the upcoming capacity due to secured long-term power purchase agreements.
Published: May 17 2025, 8 am
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