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India's current account deficit (CAD) for FY25 is under upward pressure due to rising global crude prices, with a report from Union Bank of India (UBI) indicating that every $10 per barrel increase in oil prices could worsen the CAD by nearly $15 billion. While UBI maintains its CAD estimate at 0.9% of GDP for FY25, it warns of a potential increase to 1.2% in FY26, driven by commodity price pressures. Brent crude prices have recently surged 14% amid geopolitical tensions, fluctuating between $64 and $76. The report highlights that global commodity prices, particularly crude oil and metals, will significantly impact India's trade deficit, although weak global demand may mitigate some effects. Despite these challenges, a robust services trade surplus of $188.75 billion is providing a buffer against the oil trade deficit of $122.45 billion. Ongoing geopolitical developments will be crucial in shaping India's trade outlook. 
Published: Jun 18 2025, 1 pmeznews.inIntra-city logistics provider Porter has announced its expansion into Kozhikode, Tiruppur, and Rajkot as part of its strategy to grow its presence in four to five cities annually. The initial phase will launch two-wheeler services, with plans to introduce three-wheelers and Tata Ace vehicles in the coming months. The company aims to onboard 10,000-15,000 customers per city within the first year, enhancing its offerings across all regions for faster, reliable deliveries. Ankit Dwivedi, VP of Expansion, emphasized the importance of this move in transforming logistics in tier-II cities, creating gig opportunities, and supporting MSMEs. Each city presents unique logistical demands, from Kozhikode's trading ecosystem to Tiruppur's garment industry and Rajkot's industrial base. Founded in 2014, Porter operates in 26 cities and recently secured Series F funding, reflecting the growing logistics sector in India, which contributes significantly to the GDP and employment.
Published: Jun 18 2025, 4 pmeznews.inThe India Meteorological Department (IMD) has issued a heavy rainfall warning for 14 of Odisha's 30 districts, effective until Thursday morning, as a well-marked low-pressure area over Gangetic West Bengal is expected to move towards Jharkhand. The IMD forecasts heavy to extremely heavy rainfall, accompanied by thunderstorms and lightning, from June 18 to 24. A Red Warning has been issued for Mayurbhanj and Keonjhar, while Sundargarh, Jharsuguda, and several other districts are under an Orange Warning. A Yellow Warning is in place for additional districts, with gusty winds of 30-40 km/h anticipated. Fishermen are advised to avoid venturing into the sea on June 18 and 19, and residents in affected areas are urged to prepare for potential evacuations. The IMD warns of possible localized landslides and damage to infrastructure, crops, and communication lines due to the severe weather conditions.
Published: Jun 18 2025, 6 pmeznews.inFlipkart has announced plans to transition a significant portion of its last-mile delivery fleet to electric vehicles by 2030, aligning with its commitment to sustainability. In a strategic move, the Hyderabad-based electric two-wheeler retailer, BikeWo Green Tech Ltd, has partnered with Instakart Services, a logistics subsidiary of Flipkart, to enhance last-mile delivery operations across India using electric and green vehicles. This collaboration aims to onboard over ₹100 crore worth of new business within two years, focusing on the quick commerce sector. BikeWo's Managing Director, Manideep Katepalli, emphasized the partnership as a shared commitment to climate-conscious growth, highlighting the importance of sustainable logistics as e-commerce volumes increase. The initiative is expected to improve operational efficiency while significantly reducing the carbon footprint associated with traditional logistics practices, marking a pivotal step in both companies' environmental initiatives.
Published: Jun 18 2025, 6 pmeznews.inThe Indian monsoon is expected to cover the entire country by the end of June, with heavy rains advancing into Rajasthan and Central India, supported by successive low-pressure areas, according to the European Centre for Medium-Range Weather Forecasts. On Wednesday, the monsoon made significant progress into north-western and eastern regions, reaching parts of Rajasthan, East Uttar Pradesh, Madhya Pradesh, Bihar, Chhattisgarh, and Jharkhand. The Indian Meteorological Department (IMD) indicated favorable conditions for further monsoon advancement across additional areas in Rajasthan, Uttar Pradesh, and parts of Uttarakhand and Himachal Pradesh over the next few days. Heavy pre-monsoon rainfall was reported in Punjab, West Uttar Pradesh, and Delhi, while Assam and Meghalaya experienced intense monsoonal downpours. However, predictions suggest that the current low-pressure system may weaken, potentially allowing a new system to develop over the Bay of Bengal in the coming week.
Published: Jun 18 2025, 6 pmeznews.inGocarin Industries Pvt Ltd, an agri-tech start-up, has secured ₹49 lakh in funding from KIIT Technology Business Incubator (TBI) through the BIRAC Leap programme, part of a Central government initiative aimed at fostering innovative start-ups in India. This funding will enable Gocarin to scale its operations, enhance product development, and expand its market presence, reinforcing its position in the agri-tech sector. Founder and CEO Ramanuj Panda expressed gratitude for the support, emphasizing its significance in advancing the company's mission to transform agriculture with advanced technology solutions. KIIT TBI CEO Mrutyunjay Suar highlighted Gocarin's commitment to addressing real-world agricultural challenges, aligning with the BIRAC Leap programme's goals. The funding marks a crucial step in Gocarin's journey to empower farmers and drive innovation within the industry.
Published: Jun 18 2025, 6 pmeznews.inDassault Aviation has partnered with Reliance Aerostructure Ltd to manufacture Falcon 2000 business jets in India, with a final assembly line set to be established in Nagpur. Announced at the Paris Air Show, this collaboration builds on a joint venture formed in 2017 to fulfill offset obligations from the Rafale aircraft deal, which has already produced components for various aircraft. With this initiative, India will join the ranks of the US, Canada, France, and Brazil as a producer of business jets. The Nagpur facility aims to produce up to 24 aircraft annually and will also serve as a centre of excellence for the Falcon series. Dassault's CEO, Eric Trappier, emphasized the commitment to India's aerospace ambitions, while Reliance's Anil Ambani highlighted the alignment with Prime Minister Modi's 'Atmanirbhar Bharat' vision. The facility is expected to create hundreds of jobs and facilitate the first flight of the Falcon 2000 'Made in India' by 2028.
Published: Jun 18 2025, 3 pmeznews.inICRA, a prominent ratings agency, has projected India's fiscal deficit for the 2025-26 financial year to reach 4.4% of GDP, with a current account deficit anticipated at -1%. The agency forecasts real GDP growth to exceed 6.5%, while real Gross Value Added (GVA) growth is expected to surpass 6.3%. Inflation is also on the rise, with the Consumer Price Index (CPI) predicted to exceed 4.2% and the Wholesale Price Index (WPI) projected above 2.7%. Rural demand is expected to remain strong, bolstered by Rabi cash flows and favorable reservoir levels. The report highlights that while services exports are likely to outpace merchandise exports, the latter may continue to face challenges. Additionally, the Centre's capital expenditure is set to increase by 10.1%, which is expected to stimulate investment activity, although private capital expenditure may remain cautious due to export uncertainties.
Published: Jun 18 2025, 3 pmeznews.inUnion Agriculture Minister Shivraj Singh Chouhan announced on June 18, 2025, that the government plans to amend seed and pesticide legislation to ensure quality agricultural inputs for farmers. This decision follows widespread concerns raised during the Viksit Krishi Sankalp Abhiyan, a nationwide campaign that engaged 1.34 crore farmers across 721 districts from May 29 to June 12. Chouhan highlighted the campaign's success, which involved 60,281 programs and collaboration between the Centre and states, featuring 8,280 scientists. He noted that complaints about substandard seeds and pesticides were prevalent, prompting the ministry to tighten regulations under the Seeds Act, 1966, and the Insecticides Act, 1968. Additionally, Chouhan emphasized the importance of incorporating farmers' feedback into future policies and announced plans for a similar campaign during the rabi season. He also addressed crop damage from wild animals, suggesting the use of AI for monitoring and deterrent systems.
Published: Jun 18 2025, 3 pmeznews.inIn a bid to enhance highway travel efficiency, Union Minister Nitin Gadkari announced the introduction of a FASTag-based annual pass for private vehicles, priced at ₹3,000, effective from August 15, 2025. The pass, valid for one year or up to 200 trips—whichever comes first—aims to streamline toll payments for non-commercial vehicles such as cars, jeeps, and vans. Gadkari emphasized that the initiative addresses long-standing issues at toll plazas, particularly those within a 60 km radius, by simplifying transactions and reducing congestion. A dedicated activation and renewal link will be available on the Rajmarg Yatra App and the official websites of the National Highways Authority of India (NHAI) and the Ministry of Road Transport and Highways (MoRTH). This move is expected to significantly improve the travel experience for millions of private vehicle owners across the country.
Published: Jun 18 2025, 2 pm
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