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The Maha Kumbh festival in Uttar Pradesh has significantly boosted the state's economy, achieving an average growth rate of approximately 12.5% from January to March 2025. This surge is attributed to the influx of devotees, which led to a record Goods and Services Tax (GST) collection of nearly ₹10,000 crore in March, marking an 11-month high. Despite this, experts caution that the growth may not be sustainable, as the state experienced single-digit growth in most months from July to December 2024. While the festival spurred spending in tourism and hospitality, much of the economic activity involved sectors that do not contribute to GST, such as small vendors and religious offerings. Overall, FY25 concluded with GST collections reaching ₹1.96 lakh crore in March, reflecting a 10% increase compared to the previous fiscal year, although the long-term benefits of the Kumbh on infrastructure and tourism may outweigh immediate tax gains. 
Published: Apr 01 2025, 8 pmeznews.inUS President Donald Trump has unveiled a new set of reciprocal tariffs, imposing a 26% levy on Indian exports, which could impact sectors like textiles and electronics. However, higher tariffs on competitors such as China (34%), Vietnam (46%), and Bangladesh (37%) may provide Indian exporters with a competitive advantage. Announced during a press conference in the White House Rose Garden, the tariffs are part of Trump's broader strategy to address perceived trade imbalances, with a baseline tariff of 10% on all imports. The US, India's largest trading partner, has a significant trade surplus with India, prompting ongoing negotiations for a bilateral trade agreement aimed at reducing tariffs and non-tariff barriers. While India seeks to lower tariffs on sensitive items like agriculture, the US is pushing for broader concessions. The new tariffs, effective from April 3, threaten to disrupt global trade dynamics but may also create opportunities for Indian exporters.
Published: Apr 03 2025, 4 ameznews.inIn a significant move to reshape U.S. trade policy, President Donald Trump announced a 10% baseline tariff on imports from all countries, alongside higher rates for nations with trade surpluses with the U.S., during an event in the White House Rose Garden on April 2, 2025. This decision fulfills a key campaign promise aimed at addressing perceived unfair trade practices. Trump emphasized the principle of reciprocity, stating, “Reciprocal means they do it to us and we do it to them.” Economists, however, caution that such tariffs could lead to increased consumer prices, as importers typically pass on costs. The tariffs, set to impact countries like China and Europe, are intended to generate revenue to finance tax cuts, which critics argue disproportionately benefit the wealthy. While Congress retains the authority to regulate tariffs, Trump's administration has increasingly utilized emergency powers to impose these duties, raising concerns about the long-term implications for global trade relations.
Published: Apr 03 2025, 4 ameznews.inThe Federation of Indian Export Organisations (FIEO) has raised concerns over the 26% tariffs imposed by US President Donald Trump on India, which are set to impact domestic exporters significantly. Despite this, FIEO's Director General, Ajay Sahai, noted that India is in a relatively better position compared to competitors like Vietnam and China, as the tariffs are lower than those imposed on other nations. The tariffs, which will take effect on May 3, target nearly 150 auto parts and everyday items, reflecting Trump's stance on India's high import duties. The US remains India's largest trading partner, accounting for 18% of India's total goods exports and a trade surplus of USD 35.32 billion in 2023-24. FIEO remains optimistic about ongoing bilateral trade agreement negotiations, which they hope will alleviate the impact of these tariffs.
Published: Apr 03 2025, 3 ameznews.inDisruptions in global trade anticipated from US President Donald Trump's upcoming "Liberation Day" reciprocal tariff announcements may present opportunities for Indian exporters, according to sources. India is reportedly preparing a measured response, aiming to negotiate a beneficial bilateral trade agreement (BTA) with the US, which could include prioritizing tariff cuts on certain agricultural products. During a recent internal meeting, Indian officials decided to avoid "knee-jerk reactions" and instead focus on a strategic approach to address the US's trade deficit concerns. Trump hinted at India's willingness to reduce tariffs, raising hopes that he may defer imposing reciprocal tariffs. While some Indian sectors, including textiles and pharmaceuticals, could face challenges if tariffs are enacted, the potential for a level playing field may allow India to negotiate advantageous terms. In FY24, India exported $77.51 billion worth of goods to the US, resulting in a significant trade imbalance.
Published: Apr 02 2025, 9 pmeznews.inEmirates Airlines has announced the launch of its new express courier service, Emirates Courier Express, which will initially operate in seven countries, including the UAE, Saudi Arabia, Bahrain, Kuwait, Oman, South Africa, and the UK, with plans to expand to India in the future. This initiative capitalizes on the airline's extensive fleet of over 250 aircraft and aims to meet the growing demand for e-commerce, projected to account for a third of global air cargo volume by 2027. The service will feature a cross-border network to facilitate customs clearance and manage transportation logistics. Emirates emphasized that the integration of this service into its existing infrastructure will allow for flexibility in handling seasonal demand while providing tailored solutions for various cargo types, from fashion items to critical medical equipment. However, industry analysts caution that competing with established players like FedEx and DHL will require strong partnerships on the ground.
Published: Apr 02 2025, 9 pmeznews.inThe National Highway Authority of India (NHAI) has exceeded its construction target for national highways in the fiscal year 2024-25, building 5,614 km against a goal of 5,150 km, marking a nine percent increase. The Ministry of Road Transport and Highways reported that NHAI's capital expenditure reached a record ₹2,50,000 crore, surpassing its target of ₹2,40,000 crore and reflecting a 21 percent rise from the previous fiscal year. This significant investment, which includes both government support and NHAI's own resources, is part of a broader strategy to enhance infrastructure. Additionally, NHAI successfully monetised assets worth ₹28,724 crore, utilizing methods such as Toll Operate Transfer, Infrastructure Investment Trusts, and Toll Securitisation, with the highest single round InvIT receipt amounting to ₹17,738 crore.
Published: Apr 02 2025, 9 pmeznews.inBharat Forge Ltd has inaugurated a new 300,000 sq. ft. defence manufacturing plant in Jejuri, near Pune, aimed at bolstering India's artillery production and meeting global demand for defence equipment. Chairman Baba Kalyani highlighted the growing opportunities in the defence export market, with aspirations to supply to the US, French, and British armies. The facility, part of Kalyani Strategic Systems Ltd, will focus on producing Advanced Towed Artillery Gun Systems (ATAGS) and protected vehicles, with a goal to become the largest artillery producer by 2030. Kalyani noted that last year, 90% of the company's sales were from exports, a figure expected to remain high this year. The plant is strategically located for efficient logistics and is designed to support India's self-reliance in defence production under the 'Aatmanirbhar Bharat' initiative, reinforcing the country's commitment to modernising its military capabilities.
Published: Apr 02 2025, 8 pmeznews.inIn a bid to enhance self-sufficiency in mining equipment, India's Coal Secretary Vikram Dev Dutt announced on April 2, 2025, that the government is collaborating with Coal India Limited (CIL) to incentivise local manufacturers. Dutt highlighted the current reliance on imports for heavy mining machinery, despite some existing domestic capabilities. Speaking at the International Mining Equipment & Minerals Exhibition (IME) 2025, he emphasized the government's commitment to indigenisation, which aligns with the broader Make In India initiative. CIL, responsible for 80% of the nation's coal production, currently imports various high-capacity equipment, including electric shovels and dumpers. Additionally, efforts are underway to blend domestic coal with imported coal in thermal plants to reduce import dependence, with the Central Electricity Authority conducting a technical evaluation to determine the feasibility of this approach.
Published: Apr 02 2025, 8 pmeznews.inIn a significant boost for farmers in Warangal, the Chapata chilli, also known as tomato chilli, has been awarded the Geographical Indication (GI) tag, promising additional income for approximately 20,000 local growers. This unique chilli, celebrated for its vibrant red hue and mild flavor, is particularly sought after by pickle manufacturers and serves as a natural coloring agent, replacing synthetic dyes. Cultivated over 3,000 hectares in Warangal and surrounding districts, the crop yields around 11,000 tonnes annually. The GI recognition was confirmed by the Government of India to the Thimmampet Chilli Farmer Producer Company and Sri Konda Laxman Telangana Horticultural University. With rising global demand for natural pigments, particularly in the US, UK, and Europe, experts suggest that expanding cultivation could further capitalize on the growing market for oleoresins, which are used across various industries, including food, cosmetics, and textiles.
Published: Apr 02 2025, 7 pmeznews.inParag Milk Foods has unveiled a range of high-protein, nutrient-rich products aimed at health-conscious consumers, reinforcing its status as a leader in premium dairy nutrition. The new offerings, launched under its Pride of Cows brand, include low-fat paneer, Greek yogurt, and high-protein Bocconcini, while the Gowardhan brand features crunchy chikki. Additionally, the Avvatar India brand has introduced chocolate and coffee wafers specifically designed for fitness enthusiasts. Executive Director Akshali Shah emphasized the growing importance of protein in Indian diets, stating that the company is dedicated to providing high-quality dairy solutions that meet this demand. With a focus on innovation and traceability, Parag Milk Foods aims to support healthier lifestyles through its diverse product range, which is available through e-commerce and retail channels. The strategic expansion reflects the company's commitment to quality and consumer wellness in a rapidly evolving market.
Published: Apr 02 2025, 7 pm
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