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Prime Minister Narendra Modi announced the launch of several infrastructure projects in New Delhi, emphasizing their role in enhancing academic and housing facilities. Speaking ahead of the inauguration of 1,675 flats for slum dwellers and the foundation stone laying for a college named after Veer Savarkar, Modi highlighted the government's commitment to providing world-class educational environments and proper housing for all Indians. He stated that these initiatives reflect a dedication to empowering future generations through knowledge and innovation. The Prime Minister also noted that Delhi has become a significant educational hub, attracting students nationwide. This push for infrastructure development comes as political tensions rise ahead of the upcoming assembly elections, with the BJP aiming to challenge the Aam Aadmi Party's long-standing dominance in the city since 2013, barring a brief period of President's rule. 
Published: Jan 03 2025, 9 ameznews.inORIX Corporation India Ltd anticipates a significant profit increase of 30-35% this fiscal year, driven by strong business traction, according to Managing Director and CEO Vivek Wadhera. The company projects that the automobile leasing market in India will grow to account for 7-8% of overall vehicle sales within the next 5-7 years, up from the current 2%. This growth is attributed to a younger workforce that increasingly prefers rentals over ownership, reflecting a broader generational shift in consumer behavior. In contrast, leasing constitutes 30-40% of vehicle sales in markets like the US and Japan. Despite challenges, including the Reserve Bank of India's unchanged interest rates, ORIX India has already surpassed last year's profit of $12 million, expecting to reach between $16-18 million this year. The company has partnered with OEMs like Maruti Suzuki and Kia to enhance its leasing offerings, although the segment remains relatively small.
Published: Jan 05 2025, 11 ameznews.inIndia, once a dominant player in the global cashew market, has seen its export share plummet from 43% to just 8% over the past decade, primarily due to stiff competition from Vietnam. The latter has enhanced its cashew industry through automation, large-scale processing, and competitive financing, allowing it to capture significant market share. In response, Maharashtra, India's leading cashew-producing state, is seeking to adopt best practices from Vietnam. A recent delegation, including stakeholders from Maharashtra, visited Vietnam to explore advancements in productivity and processing. Key strategies for revitalizing India's cashew sector include expanding plantations, introducing automation, facilitating affordable financing, and promoting exports, particularly to the Middle East. While Vietnam faces challenges such as raw material shortages, India has an opportunity to leverage its strong domestic demand and quality production to reclaim its position in the global market, underscoring the importance of strategic initiatives from the Cashew Board in Maharashtra.
Published: Jan 05 2025, 10 ameznews.inKarnataka's first C Band Doppler Weather Radar (DWR) in Mangaluru, initially set to be operational by January 15, 2025, has faced delays due to technical issues, according to N. Puviarasan, head of the India Meteorological Department (IMD) Bengaluru centre. The radar, located near Kadri, is expected to enhance weather forecasting for regions prone to heavy rainfall, covering a radius of 250-300 km. Meanwhile, plans for a second S-band radar in Bengaluru have encountered land acquisition challenges, with Puviarasan noting that a suitable site has been identified within a government school, pending approval. Karnataka has historically relied on radars from Goa, Hyderabad, and Chennai for accurate forecasts. The IMD aims to bolster disaster preparedness in a state vulnerable to hydro-meteorological events, as highlighted during a recent stakeholders' workshop celebrating 150 years of the IMD.
Published: Jan 05 2025, 10 ameznews.inAs 2024 concludes, India's agricultural sector is undergoing a significant transformation driven by the increased adoption of biological solutions such as biopesticides, biostimulants, and soil microbiomes. These innovations are crucial in addressing challenges posed by climate change, pest resistance, and soil degradation, with biopesticides offering a safer alternative to chemical pesticides, which currently account for a 17.5% crop loss due to pests. Biostimulants, including seaweed extracts, enhance crop resilience and can boost yields by nearly 20%, while agricultural microbiomes are vital for restoring soil health, particularly as over 60% of India's farmland suffers from degradation. The rise of precision agriculture tools is further enhancing efficiency and competitiveness, especially for small-scale farmers. With ongoing research, government support, and growing awareness, India's agricultural landscape is poised for a sustainable future, marking the beginning of a new era in farming practices.
Published: Jan 05 2025, 9 ameznews.inTelangana Chief Minister A. Revanth Reddy announced significant financial support for farmers during a press conference on January 4, 2025, in Hyderabad. Under the Rythu Bharosa scheme, cash benefits for farmers will increase from ₹10,000 to ₹12,000 per acre annually, while landless farm labourers will receive a similar amount through the newly launched Indiramma Atmeeya Bharosa scheme. Both initiatives are set to commence on January 26, coinciding with the 75th anniversary of the Indian Constitution. The Cabinet also approved the naming of irrigation projects after notable figures and established a Technical Expert Committee to explore irrigation solutions in Mahabubnagar district. Additionally, the Godavari Drinking Water Supply Scheme will expand its capacity from 15 TMC to 20 TMC to meet future demands, and Kothagudem will be upgraded to a Municipal Corporation.
Published: Jan 05 2025, 9 ameznews.inAdani Wilmar, a joint venture between Adani Group and Singapore's Wilmar Group, reported a 6% increase in sales volumes and a 33% rise in revenue for the December quarter, despite facing price hikes due to rising raw material costs. The company, known for its Fortune brand of edible oils and food products, attributed its success to a diverse brand portfolio that helped maintain market share amid consumer downtrading. In its regulatory filing, Adani Wilmar noted a 4% growth in sales volumes and a 39% revenue increase in the edible oils segment. The company’s integrated distribution model has enhanced its urban market penetration, while rural markets have also contributed to rapid growth, particularly in southern India, where it achieved over 15% year-on-year volume growth. E-commerce sales surged by 41%, reflecting the company's strategic focus on expanding its reach in both urban and rural areas.
Published: Jan 04 2025, 10 pmeznews.inTata Sons Chairman N. Chandrasekaran reaffirmed the company's commitment to transforming Air India into a premier global airline during a discussion at the Global Alumni Meet of NIT Trichy on January 4, 2025. Following Tata Group's acquisition of Air India in 2022 for ₹18,000 crore, Chandrasekaran emphasized the airline's focus on enhancing customer experience, technology, and overall service quality. He humorously urged attendees to encourage aircraft manufacturers Boeing and Airbus to expedite the delivery of Air India's substantial order of 470 planes, which includes recent additions of 100 A350 and 90 A320 aircraft. Additionally, he highlighted Tata Sons' significant investment in the semiconductor industry, amounting to USD 18 billion, with plans for a semiconductor fabrication facility to be operational by 2026. Chandrasekaran called for a collaborative effort involving government support and academic institutions to foster growth in this sector.
Published: Jan 04 2025, 6 pmeznews.inFast-moving consumer goods (FMCG) companies are implementing significant price hikes to counteract soaring raw material costs, impacting household budgets and sales volumes. In the third quarter, prices for staples and household products rose by up to 10%, with further increases anticipated in the fourth quarter. Analysts from Nuvama Institutional Equities noted that commodity inflation is a pressing issue, particularly as urban demand remains weak while rural markets show signs of recovery. Key categories affected include soaps, tea, coffee, and edible oils, with companies like Marico, Nestle, and Godrej Consumer Products leading the price increases. For instance, Marico raised its Parachute coconut oil prices by 10%, while Tata Consumer Products is expected to hike tea prices by 25-30%. Despite these adjustments, analysts suggest that price hikes have not fully matched raw material cost increases, prompting companies to focus on premium products to enhance margins in a challenging market.
Published: Jan 04 2025, 7 pmeznews.inUnion Finance Minister Nirmala Sitharaman emphasized the vital role of public sector banks (PSBs) in promoting rural empowerment during the inauguration of the Grameen Bharat Mahotsav 2025 in New Delhi. She noted that since 2014, the Modi government has prioritized rural development through various Central Government schemes, providing collateral-free loans to small businesses and artisans. Sitharaman highlighted initiatives like PM MUDRA Yojana and PM Awas Yojana, which are crucial for credit saturation in the rural sector. The festival showcases India's cultural heritage and rural aspirations, featuring over 50 Geographical Indication (GI) tagged products and programs aimed at women's empowerment, such as Drone Didis and Lakhpati Didis. The event underscores the government's commitment to fostering small-scale industries and supporting organic farmers, women, and Self-Help Groups (SHGs), thereby driving economic growth and skill development in rural communities.
Published: Jan 04 2025, 8 pmeznews.inUnion Agriculture Minister Shivraj Singh Chouhan has outlined significant advancements in key agricultural schemes during a recent virtual meeting with state agriculture ministers. He expressed optimism that the growth rate for the agriculture and allied sectors will reach between 3.5% and 4% in the 2024-25 fiscal year, urging states to accelerate their efforts. Chouhan highlighted the government's six-point strategy aimed at enhancing farm productivity, which includes research initiatives, new seed varieties, and cost-reduction measures. He noted progress in programs such as PM-KISAN, Pradhan Mantri Fasal Bima Yojana, and the DAP fertiliser subsidy, which saw an increase of ₹3,800 crore to maintain affordable prices. Additionally, he welcomed a State Bank of India report indicating a drop in rural poverty to below 5% for the first time in FY24. Chouhan reaffirmed the government's commitment to agricultural development and farmer welfare in the new year.
Published: Jan 04 2025, 6 pm
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