eznews.inUnion Minister Piyush Goyal met with representatives from export promotion councils on Tuesday to discuss global opportunities for Indian exporters, particularly in light of the recently finalized free trade agreement (FTA) with the UK and ongoing negotiations with the US and EU. Goyal emphasized the need for a platform to enhance the visibility of Indian exporters to international buyers. Recently returned from discussions in the US regarding a bilateral trade deal, Goyal noted that the first phase of the agreement is expected by Fall 2025, with hopes for an interim deal before July 7, when a 90-day reciprocal tariff pause ends. Industry sources expressed optimism that an early agreement could provide India with a competitive edge over nations like Vietnam and Bangladesh, which are also facing US tariffs. The potential for reduced tariffs on Indian goods could significantly boost the country's export prospects. 
Published: May 27 2025, 10 pmeznews.inIndia's goods exports are projected to rise by 12% in FY26, reaching $525 billion, following a stagnant FY25, driven by free trade agreements, the reopening of the Red Sea shipping route, and a shift by foreign buyers to diversify sourcing amid global uncertainties, according to the Federation of Indian Export Organisations (FIEO). Overall exports, including services, are expected to hit $1 trillion, with services alone estimated to grow by 20% to between $465 billion and $475 billion. However, concerns persist regarding rising protectionism and non-tariff measures from G-20 nations, particularly the EU's Carbon Border Adjustment Mechanism and the upcoming Digital Product Passport, which could burden MSMEs. The interim trade deal with the US, potentially exempting India from reciprocal tariffs, may provide a competitive edge, while the gradual resumption of the Red Sea route is expected to reduce shipping times and costs for exporters. Key sectors anticipated to drive growth include electronics, textiles, and pharmaceuticals.
Published: May 27 2025, 9 pmeznews.inThe Ministry of Environment, Forest and Climate Change has mandated that consumer product companies incorporate 30% recycled plastic in category-1 packaging, including PET bottles, by fiscal year 2026, effective from April 1. Concurrently, the Food Safety and Standards Authority of India (FSSAI) has issued guidelines for food-grade recycled PET (r-PET) to be used in food contact materials, detailing the accepted recycling processes and introducing a new logo for labeling. This logo will indicate the percentage of recycled PET in packaging, aimed at enhancing consumer awareness and safety. The guidelines specify that only approved recycling technologies can be used, prohibiting conventional methods that lack adequate decontamination processes. As the F&B industry grapples with a shortage of approved r-PET materials, the FSSAI's recent national consultation with stakeholders underscores the urgency of these regulations to ensure safe and sustainable packaging solutions.
Published: May 27 2025, 8 pmeznews.inEID Parry, a subsidiary of the Murugappa Group, reported significant growth in its consolidated revenue and profits for the fourth quarter ending March 2025, driven primarily by its distillery segment. The company’s consolidated revenue reached ₹6,811 crore, marking a 23% increase year-on-year, while profit after tax rose to ₹287 crore from ₹220 crore in the previous year. For the full fiscal year, consolidated revenue grew 7.5% to ₹31,609 crore, although profit fell 2% to ₹878 crore. EID Parry announced a ₹350 crore investment in its subsidiary, Parry Sugars Refinery India, aimed at reducing debt and enhancing net worth. However, standalone results showed a loss of ₹232 crore for Q4FY25, attributed to an impairment provision, despite a revenue increase to ₹814 crore. The distillery segment thrived with a 38% revenue growth, while the sugar segment faced challenges, reporting a loss due to lower cane volumes and higher costs.
Published: May 27 2025, 8 pmeznews.inThe UK has confirmed that its carbon border adjustment mechanism (CBAM) will not be included in the free trade agreement (FTA) with India, with discussions on the carbon tax occurring separately. Prime Minister Narendra Modi and UK Prime Minister Keir Starmer are set to meet soon to finalize the FTA, which could boost bilateral trade by over £25 billion annually. While the UK has not altered its immigration system significantly, it will create 1,800 annual visa slots for professionals such as chefs and musicians. The CBAM, effective from January 2027, will impose a carbon tax on specific goods, including aluminium and cement, prompting India to seek flexibilities to protect its market access. The FTA aims to eliminate tariffs on 99% of Indian goods and 85% of UK exports over ten years, enhancing trade opportunities in various sectors, including textiles and advanced machinery.
Published: May 27 2025, 8 pmeznews.inA recent Finance Ministry report presents an optimistic outlook for India's economy, bolstered by low core inflation and a decline in food prices, despite global uncertainties and tighter financial conditions. The Monthly Economic Review (MER) highlights that while private sector investment may lag due to cautious corporate sentiment, India remains an attractive destination for foreign direct investment (FDI). The report notes a 24.5% year-on-year drop in FDI to $9.34 billion for the January-March quarter, yet emphasizes the potential for recovery through government fiscal measures and RBI rate cuts. With growth forecasts between 6.2% and 6.7% for the current fiscal year, supported by robust domestic fundamentals and a positive inflation outlook—retail inflation fell to 3.16%, the lowest since July 2019—the MER suggests that favorable agricultural conditions and government policies could further stimulate economic growth.
Published: May 27 2025, 8 pmeznews.inThe India Meteorological Department (IMD) has revised its monsoon forecast, predicting a rainfall of 106% of the long period average (LPA) of 87 cm for the June-September season, up from an earlier estimate of 105%. IMD officials, including Director-General Mrutyunjay Mohapatra, assured that rainfall will be evenly distributed across most states, with the exception of Assam, Arunachal Pradesh, and Meghalaya, which may experience below-normal precipitation. The forecast indicates above-normal rainfall in central and southern regions, while the north-west is expected to receive normal to above-normal rainfall. However, some areas in Punjab, Haryana, Kerala, and Tamil Nadu may see below-normal levels. The monsoon's early onset on May 24, the earliest since 2009, has raised concerns about potential rainfall deficits, but officials emphasized that any rain received post-onset is a bonus. The Bharat Forecast System will assist in short- and medium-range weather predictions during the season.
Published: May 27 2025, 8 pmeznews.inThe Central Board of Direct Taxes (CBDT) has announced an extension for salaried individuals and entities with non-audited accounts to file their Income Tax Returns (ITR) for the Assessment Year 2025-26, now due by September 15, 2025, instead of the usual July 31 deadline. This extension comes as the filing process has yet to commence, with the CBDT citing necessary revisions to ITR forms aimed at simplifying compliance and enhancing transparency. While the due date for businesses with audited accounts remains unchanged at October 30, the extension is expected to alleviate concerns from stakeholders and provide taxpayers with adequate time to prepare their filings. Experts have noted that the July 31 deadline often poses challenges due to the tight timeline for TDS credits and the need for updated e-filing utilities. With over 10 crore taxpayers anticipated to file, this extension is seen as crucial for ensuring accurate and complete submissions.
Published: May 27 2025, 7 pmeznews.inAgri value chain enabler Samunnati has successfully raised ₹42.5 crore in Series E equity funding from Agri-Biz Capital Delaware LLC, marking the first equity infusion for the financial year 2025-26. This investment boosts Samunnati's total Pre-Series E equity raised to over ₹381 crore, reinforcing its financial position. Agri-Biz Capital is among several long-term partners, including Nuveen and Accel, who support Samunnati's innovative model aimed at enhancing the agricultural ecosystem. Founder Anil Kumar SG emphasized that this capital infusion validates their integrated approach, which combines financial services, market linkages, and advisory support to benefit smallholder farmers and agri-enterprises. With a strong financial foundation and an expanding network of lending partners, Samunnati is committed to driving sustainable change in India's agriculture sector, fostering innovation, and promoting inclusive growth across the agricultural value chain.
Published: May 27 2025, 5 pmeznews.inTurmeric prices are expected to remain stable in the coming months after a decline from last year's record highs of over ₹200 per kg. Currently, the weighted average price stands at ₹12,665 per quintal, down from ₹16,355 a year ago. Traders report a lack of demand in key markets like Nizamabad and Sangli, with prices potentially dropping below ₹120 per kg by July. Despite a good crop yield of 82 lakh bags this year, export demand has weakened, particularly following the India-Pakistan dispute. However, the area under turmeric cultivation is projected to increase by 30-35% due to favorable pre-monsoon conditions. Analysts anticipate that market activity will remain strong as harvesting continues, with a preliminary report on sowing expected by June-end. Overall, while prices may fluctuate, a significant drop below ₹100 per kg is not anticipated.
Published: May 27 2025, 5 pm
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