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The Solvent Extractors’ Association of India (SEA) has called on the government to permit the temporary import of copra and coconut oil to address a growing demand crisis and maintain consumer interest in coconut oil. SEA President Sanjeev Asthana highlighted that coconut production has faced significant stress over the past two years, exacerbated by severe weather and pest issues, leading to a reported 40% drop in yields. Consequently, coconut oil prices have surged, tripling in the last year to over ₹400 per kg. Asthana warned that if consumers shift to alternative oils due to high prices, it could lead to long-term demand loss and farmer distress. He urged the government to allow imports for 6-12 months to stabilize prices without adversely affecting farmers. The SEA suggested implementing safeguards like Tariff Rate Quotas to ensure legitimate imports while easing supply pressures in the market. 
Published: Jul 11 2025, 3 pmeznews.inThe Income Tax Department has reported a decline of over 1.3% in net direct tax collections from April 1 to July 11, primarily due to a 4% drop in corporate tax and a significant rise in refunds, which surged by approximately 38% to over ₹1 lakh crore. While non-corporate tax collections remained stable, the government has set a target of ₹25.20 lakh crore for direct tax collections in the current fiscal year, reflecting a projected growth of 12.35% from revised estimates of ₹22.37 lakh crore for FY2024-25. Finance Minister Nirmala Sitharaman has urged tax officials to simplify compliance processes and enhance taxpayer services, advocating for region-specific strategies and the withdrawal of departmental appeals below revised monetary thresholds. These thresholds are set at ₹60 lakh for the Income Tax Appellate Tribunal, ₹2 crore for High Courts, and ₹5 crore for the Supreme Court.
Published: Jul 11 2025, 9 pmeznews.inIndia's cotton stocks for the 2024-25 season, ending in September, are projected to reach approximately 55.59 lakh bales, marking an 84% increase from last year's 30.19 lakh bales, according to the Cotton Association of India (CAI). CAI President Atul Ganatra noted that cotton pressing is estimated at 311.40 lakh bales, up from a previous estimate of 301.14 lakh bales, driven by higher crop yields in Maharashtra, Gujarat, Telangana, and Karnataka. The total cotton supply until the end of June is expected to be 356.76 lakh bales, with domestic consumption slightly rising to 308 lakh bales, while exports are anticipated to drop by 40% to 17 lakh bales. Additionally, cotton imports are projected to more than double to 39 lakh bales. Sowing has progressed well, covering 79.54 lakh hectares, slightly above last year's figures, as reported by the Agriculture Ministry.
Published: Jul 11 2025, 8 pmeznews.inThe United States has lodged a complaint with the World Trade Organization (WTO) regarding India's new dairy certificate requirement, which it claims is "unnecessarily trade restrictive" and lacks a scientific basis. This complaint arises amid ongoing negotiations for a bilateral trade agreement, where the US seeks greater market access, particularly in the dairy sector. The US expressed concerns that the certificate, effective from November 1, 2024, fails to address previously raised issues, creating barriers for US dairy exports to India. Key stipulations of the certificate include assurances that products meet specific microbiological standards and are free from drugs and heavy metal residues. Additionally, the US has criticized the requirement for foreign certificates to state that animals have "never been fed" certain materials, arguing it diverges from domestic regulations. Despite exporting over $8 billion in dairy products last year, US exports to India remain minimal, estimated at just $39 million for FY23.
Published: Jul 11 2025, 8 pmeznews.inIndia's External Affairs Minister S. Jaishankar is set to visit China this weekend, marking his first trip in over five years as both nations seek to mend relations following deadly border clashes in 2020. Jaishankar will meet with Chinese Foreign Minister Wang Yi in Beijing before attending the Shanghai Cooperation Organisation (SCO) council of foreign ministers in Tianjin on July 14-15. The discussions are expected to cover various topics, including rare earth supplies, the Dalai Lama's succession, and recent India-Pakistan tensions. This visit follows a series of high-profile Indian trips to China aimed at stabilizing ties, including Defense Minister Rajnath Singh's recent attendance at an SCO defense ministers' meeting. Despite efforts to normalize relations, tensions persist, with India maintaining visa and investment restrictions on China, and Beijing expressing discontent over Modi's birthday wishes to the Dalai Lama.
Published: Jul 11 2025, 8 pmeznews.inDuring the harvesting season from April to June, average mandi prices for key rabi crops—wheat, chana, mustard, masur, and barley—ranged from 5% below to 8% above the minimum support price (MSP). Notably, while wheat prices rose by 1.6% to ₹2,465/quintal and barley increased by 7.7% to ₹2,133/quintal, chana prices fell by ₹26 to ₹5,596/quintal, remaining 1% below its MSP. The government has projected a record wheat production of 117.51 million tonnes for 2024-25, while mustard and chana outputs are expected to decline slightly. Farmer leader Rampal Jat attributed rising mustard prices to increased farmer awareness and external market influences, with prices climbing from ₹5,575 in March to over ₹6,000 in June. Experts advocate for reforms in warehousing rules to benefit farmers and suggest implementing price-risk insurance to enhance market participation.
Published: Jul 11 2025, 8 pmeznews.inMaharashtra Chief Minister Devendra Fadnavis announced plans to commence construction of India's first offshore airport at Vadhavan, near Mumbai, by 2026. The airport will complement the deep draft port being developed by the Jawaharlal Nehru Port Authority, located 140 kilometers north of Mumbai, and is intended to serve as a third airport for the city. A pre-feasibility study for the project is currently underway, with results expected in three months. Speaking at a civil aviation conference in Mumbai, Fadnavis emphasized the significance of civil aviation in bolstering India's economy and highlighted ongoing efforts to enhance airport facilities across the state, including upgrades in districts like Gadchiroli. He also addressed challenges in land acquisition for Pune's second airport in Purandar, expressing optimism for a swift resolution to expedite construction and boost cargo traffic alongside existing airports in Nagpur and Navi Mumbai.
Published: Jul 11 2025, 7 pmeznews.inThe European Centre for Medium-Range Weather Forecasts has projected that heavy rainfall will ease across most of North-West and East India by July 26, with the exception of the Himalayan foothills and parts of Central India and the West Coast. Over the next few days, Central and adjoining North-West India are expected to experience continued heavy rainfall, driven by a west-to-east Madden-Julian Oscillation (MJO) wave enhancing convective activity over the Bay of Bengal. This low-pressure system, located over south Jharkhand, may lead to a shift in the monsoon trough, potentially resulting in a "monsoon break" where rainfall concentrates in the foothills while diminishing in Central and North-West India. The India Meteorological Department anticipates near-normal to above-normal rainfall for Central India and widespread rainfall across North-West India, with cumulative rainfall in some regions exceeding 100% above average.
Published: Jul 11 2025, 6 pmeznews.inUnion Minister H D Kumaraswamy unveiled a groundbreaking scheme on Friday aimed at incentivizing the purchase of electric trucks, offering subsidies of up to ₹9.6 lakh per vehicle under the PM E-DRIVE initiative, which has allocated ₹500 crore for this purpose from a total budget of ₹10,900 crore. The initiative targets industries such as ports, logistics, cement, and steel, with plans to support approximately 5,600 electric trucks, particularly addressing air quality issues in Delhi. Kumaraswamy emphasized the environmental benefits, noting that diesel trucks, despite being only 3% of the vehicle population, account for 42% of transport-related greenhouse gas emissions. The scheme mandates the scrapping of old polluting trucks to qualify for incentives, which will be provided upfront to manufacturers. Additionally, the initiative promotes local manufacturing and aims to create green jobs, with several original equipment manufacturers already engaged in producing electric trucks in India.
Published: Jul 11 2025, 5 pmeznews.inAt a recent Foundation Day celebration in Mangaluru, A Kishore Kumar Kodgi, President of the Central Arecanut and Cocoa Marketing and Processing Cooperative (Campco) Ltd, urged the Central government to lower the Goods and Services Tax (GST) on copper sulphate, a vital agricultural input for farmers cultivating arecanut, cocoa, and other plantation crops. Currently taxed at 18%, Kodgi highlighted the economic strain this places on farmers compared to the 5% rate for fertilizers and micronutrients. He also called for a uniform classification of copper sulphate under a single HSN code for agricultural use. Dakshina Kannada MP Brijesh Chowta pledged to support the cause, while KB Hebbar from the Central Plantation Crops Research Institute announced a collaborative study on arecanut and human health, addressing previous research limitations. The event also saw the launch of new chocolate products and a soil conditioner by Campco.
Published: Jul 11 2025, 4 pmeznews.inSiemens has announced two significant contracts worth ₹773 crore to enhance the Nagpur Metro Rail system, awarded by the Maharashtra Metro Rail Corporation. The project, set to be completed within 42 months, involves the design, manufacture, and installation of advanced signalling and telecommunication technologies for Phase 2 of the metro, which spans 32 stations over 43.8 kilometres. Utilizing Siemens' Metro Rail technologies, the initiative aims to improve train frequency, passenger experience, and safety standards, ensuring 100% punctuality and energy efficiency. Rajeev Joisar, Head of Mobility Business at Siemens, emphasized the project's role in promoting sustainable urban development in Nagpur, showcasing Siemens' commitment to integrating automation and digitalisation in India's urban transport landscape. The company continues to lead in technology solutions that enhance infrastructure and mobility, contributing to more efficient and livable cities.
Published: Jul 11 2025, 4 pm
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