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In a recent development, the Marine Products Exports Development Authority (MPEDA) hosted the inaugural inter-state Skill Olympiad focused on seafood value addition at NIFPHATT in Kochi, featuring 20 participants from the West Coast. Competitors showcased ten innovative seafood products made from shrimp, squid, cuttlefish, tuna, and tilapia. MPEDA Chairman D.V. Swamy underscored the significance of upskilling in the seafood sector to align with the Indian government's Viksit Bharat 2047 vision, aiming to position India as a global leader in seafood processing. The event aimed to enhance skills, create a trained workforce, and raise awareness about the quality of seafood products. A five-member expert panel evaluated the participants, culminating in a tasting session of the value-added marine products. This initiative reflects a commitment to advancing the seafood industry and improving the quality of products available in the market. 
Published: May 30 2025, 1 pmeznews.inIndia's G20 Sherpa, Amitabh Kant, projected that the nation's economy, currently valued at $4 trillion, could soar to nearly $30 trillion by 2047, driven by its youthful demographic. Speaking at the International Air Transport Association (IATA) event in New Delhi, Kant highlighted the urgency for sustainable urbanisation, estimating that around 5 million people will migrate to urban areas, necessitating the construction of 500 new cities. He emphasized the need for significant infrastructure development, likening the challenge to creating two new Americas over the next five decades. Additionally, Kant outlined ambitions to expand India's aviation sector, aiming to establish 400 airports to enhance connectivity and competitiveness against global airlines. With over 150 airports currently operational, he urged Indian carriers like IndiGo and Air India to compete on the international stage.
Published: Jun 02 2025, 5 pmeznews.inThe Fertiliser Association of India (FAI), representing the ₹982-billion industry, has appointed Sailesh C Mehta, Chairman and Managing Director of Deepak Fertilisers and Petrochemicals Corporation, as its new Chairman, succeeding N Suresh Krishnan of Paradeep Phosphates. Elected by the FAI Board last week, Mehta will serve a two-year term, with the possibility of an extension. Krishnan held the position since December 2022, while Mehta previously served as Co-Chairman. With over 40 years of industry experience, Mehta has also led FAI’s western region for over five years. The FAI highlighted the fertilizer sector's crucial role in enhancing India's agricultural output by 60% and horticulture by 40% over the past two decades. Mehta emphasized the industry's commitment to sustainable growth through balanced and nutrient-efficient fertilizers, reflecting India's transformation from food scarcity to a global agricultural exporter.
Published: Jun 02 2025, 4 pmeznews.inIndia's ethanol production capacity has surged to nearly 1,800 crore litres annually; however, actual utilisation remains low due to significant price gaps. The sugar industry, which has seen its contribution to the national ethanol programme plummet from 73% to just 28%, is calling for a revision of ethanol procurement prices and an extension of blending targets beyond 20%. In a recent meeting at the Prime Minister's Office, industry leaders, including NFCSF Chairman Ravi Gupta, highlighted that while 43 lakh tonnes of sugar were diverted to ethanol production in the 2022-23 season, this figure is projected to drop to 250 crore litres in 2024-25. The decline is attributed to stagnant ethanol prices compared to the rising Fair and Remunerative Price of sugarcane, making ethanol production less profitable. The industry is also advocating for the promotion of Flex-Fuel Vehicles and exploring the blending of ethanol in diesel to enhance demand and market readiness.
Published: Jun 02 2025, 4 pmeznews.inIndia's engineering exports to the United States could face significant challenges if President Donald Trump implements a proposed 50% tariff on steel and aluminium imports. The Engineering Export Promotion Council of India (EEPC) highlighted that these metals and their derivatives account for nearly 25% of India's total engineering shipments to the US, which currently amount to approximately $5 billion annually. The existing 25% tariff, introduced in March 2025, has already strained the market for Indian exporters. EEPC Chairman Pankaj Chadha warned that the new tariff would further increase costs and likely reduce shipments. He noted that the UK recently secured an exemption from similar tariffs through a trade deal with the US and urged India to pursue a similar waiver during ongoing Bilateral Trade Agreement negotiations, cautioning that unilateral tariffs could complicate discussions and jeopardize vital engineering exports.
Published: Jun 02 2025, 4 pmeznews.inEaseMyTrip.com has unveiled its strategic investment initiative, EaseMyTrip 2.0, aimed at partnering with high-potential businesses in the travel sector and adjacent industries. Spearheaded by Chairman and Founder Nishant Pitti, the initiative allows the company to acquire up to 49% equity in selected ventures while enabling founders to maintain full operational control. The investment model emphasizes working capital partnerships, granting partner businesses access to EaseMyTrip’s extensive customer base of over 30 million users and its robust digital marketing ecosystem. Target sectors include domestic and international holidays, religious tourism, student travel, luxury travel, and last-mile mobility solutions, among others. The company, which has been profitable since its inception in 2008, reported a 47% CAGR growth in profits before tax from FY20-24, solidifying its status as one of India’s fastest-growing internet firms. As of 2:28 PM, shares of Easy Trip Planners Limited were trading at ₹11.02, down 1.78%.
Published: Jun 02 2025, 2 pmeznews.inIn a notable market update, the SENSEX closed at 81,173.09, down by 277.92 points, while the NIFTY fell 83.05 points to settle at 24,667.65. In contrast, crude oil prices rose by 169.00 to reach 5,372.00, and gold saw an increase of 1,636.00, now priced at 96,280.00. Silver also experienced a gain, climbing 1,053.00 to 98,068.00. Meanwhile, Vintage Coffee and Beverages Limited has launched a new liquid coffee product through its subsidiary, targeting the growing demand in global markets, especially in South East Asia. The product aims to provide a versatile coffee concentrate for various beverages, catering to coffee shops and restaurants seeking cost-effective solutions. Managing Director Balakrishna Tati emphasized that this launch aligns with the company's strategy to diversify its offerings and meet specific market needs. Vintage Coffee shares traded at ₹117.92, down 0.46% on the NSE.
Published: Jun 02 2025, 3 pmeznews.inIndia's diesel and petrol consumption reached record highs in May 2025, driven by strong manufacturing activity, exporters racing to meet US tariff deadlines, and increased agricultural activity due to early monsoons and the marriage season. According to the Petroleum Planning & Analysis Cell (PPAC), diesel consumption rose 4% month-on-month and nearly 2% year-on-year to 8.57 million tonnes, while petrol surged almost 10% month-on-month and 9% year-on-year to 3.77 million tonnes. The demand for aviation turbine fuel (ATF) also increased, rising over 1% month-on-month and 4% year-on-year to 775,000 tonnes. Analysts noted that the uptick in petrol consumption reflects growing affluence and a trend towards personal vehicle purchases, particularly two-wheelers and SUVs. Meanwhile, jet fuel demand remained robust, nearing record levels, supported by rising domestic and international air travel as income levels increase.
Published: Jun 02 2025, 3 pmeznews.inKarnataka has experienced a significant surge in pre-monsoon rainfall, receiving 286 mm from March 1 to May 31, 2025, which is 149% above the normal level of 115 mm. This has led to an early sowing of kharif crops, with 3.06 lakh hectares planted by the end of May, compared to 2.36 lakh hectares during the same period last year, according to the Karnataka Agriculture Department. The state aims for a foodgrain production target of 111.4 lakh tonnes for the 2025-26 kharif season, including 96.14 lakh tonnes of cereals and 15.26 lakh tonnes of pulses. Notably, maize sowing has surged by 160% to 0.714 lakh hectares, while jowar and pulses like blackgram and moong have also seen increased planting. Additionally, commercial crops such as sugarcane and tobacco have gained popularity among farmers, reflecting a robust agricultural response to the favorable weather conditions.
Published: Jun 02 2025, 3 pmeznews.inThe Indian government has introduced a revised age-based movie certification system aimed at ensuring that young viewers are exposed to age-appropriate content. The Ministry of Information and Broadcasting has amended rules established in 1991, expanding the Unrestricted Public Exhibition (U/A) category to include three new sub-categories: U/A 7+, U/A 13+, and U/A 16+. This change replaces the previous singular U/A classification for children under 12. The Central Board of Film Certification will now provide guidance for parents regarding the suitability of films for children aged seven, thirteen, and sixteen. The Ministry emphasized that these age markers are recommendatory, designed to balance the protection of vulnerable audiences with the principles of freedom of expression. The new certification system follows the enactment of the Cinematograph (Amendment) Act in 2023 and the Cinematograph (Certification) Rules in 2024.
Published: Jun 02 2025, 3 pmeznews.inThe recent reduction in import duties on crude edible oil has sparked concern among oil palm growers in India, who fear it will undermine their earnings and the nation's goal of self-sufficiency in edible oils. Farmers, like Mahesh Reddy from Khammam, expressed disappointment as they anticipated better prices during the peak selling season from May to September. Last year, an increase in import duties had led to a significant rise in the price of Fresh Fruit Bunches (FFBs), but the new duty cut threatens to reverse these gains. Telangana's Agriculture Minister Tummala Nageswara Rao has urged the central government to reconsider the decision, warning it could deter new oil palm cultivation and erode farmers' trust. The Telangana government aims to expand oil palm acreage from 1 lakh to 8 lakh hectares, but has struggled to meet targets, prompting a proposed subsidy to support farmers in the coming years.
Published: Jun 02 2025, 2 pm
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