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Domestic steel prices in India have plummeted to a five-year low, trading between ₹47,000-48,000 per tonne, primarily due to surging imports and weak export demand, according to market data from BigMint. Hot rolled coil (HRC) prices are around ₹47,150 per tonne, while re-bar (TMT) is priced between ₹46,500-47,000 per tonne, levels not seen since 2020 during the pandemic. The decline is exacerbated by an oversupply in the global market and aggressive export strategies from countries like China. Despite government measures to curb imports, India has remained a net steel importer for six consecutive months, with September imports rising to 0.79 million tonnes. The Ministry of Steel has scheduled an "open house" on October 27 to address these issues, while the Reserve Bank of India has called for policy support to enhance domestic competitiveness. Mill margins are expected to face pressure due to high input costs and sluggish demand. 
Published: Oct 24 2025, 10 ameznews.inIndia's leather and leather goods exporters are bracing for a projected 7-8% decline in export value this fiscal year, primarily due to steep US tariffs and ongoing challenges from the Russia-Ukraine war and logistics disruptions. Despite these hurdles, the Indian Leather Products Association (ILPA) remains optimistic, citing a resilient domestic market and growing demand from overseas markets such as Australia, the UK, and the UAE as potential buffers against the downturn in US business. ILPA president Arjun Kulkarni noted that while export figures may drop, many companies are unlikely to see significant turnover losses due to increased domestic demand. Additionally, the recent fluctuations in the rupee-dollar exchange rate have provided some relief, allowing exporters to maintain order volumes despite US buyers seeking discounts of 20-25%. The industry, which employs around 500,000 people at the Bantala Leather Complex in Kolkata, continues to adapt to the evolving global landscape.
Published: Oct 24 2025, 10 pmeznews.inA delegation from the EU Parliamentary committee on international trade is set to visit India next week to discuss trade and investment relations ahead of a crucial year-end deadline for finalizing the India-EU free trade agreement (FTA). Led by Cristina Maestre and Brando Benifei, the seven-member team will be in India from October 27, aiming to enhance mutual understanding amid ongoing negotiations. The visit comes as both sides seek to resolve outstanding issues in sectors such as automobiles and services, following recent talks in Brussels. Prime Minister Narendra Modi and European Commission President Ursula von der Leyen have emphasized the importance of concluding the FTA by the end of 2025, with bilateral trade between India and the EU reaching €120 billion in 2024. The delegation will engage with various stakeholders, including industry representatives and civil society, to gather insights on the challenges and opportunities presented by the negotiations.
Published: Oct 24 2025, 9 pmeznews.inIndia is gearing up for the Bharat International Rice Conference (BRIC) 2025 in Delhi, set for October 30-31, with a focus on expanding its rice exports to 26 identified markets, including Indonesia, the Philippines, Vietnam, and the US. The initiative aims to tap into a potential ₹1.8 lakh crore ($12.95 billion) worth of export orders, as highlighted by Dev Garg, Vice President of the Indian Rice Exporters Federation. The conference will see participation from over 3,000 farmers, 1,000 foreign buyers from 80 countries, and 2,500 exporters and millers. It is expected to facilitate the signing of memorandums of understanding (MoUs) worth ₹25,000 crore. With India producing around 150 million tonnes of rice in 2024-25, accounting for 28% of global output, the event will emphasize sustainability, innovation, and transparency in the global rice trade.
Published: Oct 24 2025, 9 pmeznews.inIntense cloud cover has enveloped southern Sri Lanka, parts of Tamil Nadu, and regions of Rayalaseema, Telangana, and south coastal Andhra Pradesh as a potential cyclone develops in the Bay of Bengal. The India Meteorological Department (IMD) has indicated that a low-pressure area forming over the southeast Bay could intensify into a cyclone by Monday, following a rapid progression from a depression on Saturday to a deep depression by Sunday. Concurrently, a depression in the east-central Arabian Sea is moving towards the West Coast, influenced by an incoming western disturbance. Heavy rainfall is anticipated across several regions, with extremely heavy downpours expected in Rayalaseema and Coastal Andhra Pradesh on Monday and Tuesday. Squally winds are also forecasted, with gusts reaching up to 70 km/h in the Bay of Bengal, prompting warnings for coastal areas from Karnataka to Gujarat.
Published: Oct 24 2025, 9 pmeznews.inFarm workers in Kothuru Tadepalli, NTR district, are engaged in the Kharif crop season, with satellite-based surveys indicating minimal damage to crops despite concerns over heavy rains and floods in August and September. The agriculture ministry is set to release crop production estimates in early November. In Punjab, where 95% of paddy is cultivated, less than 200,000 hectares were affected, with the total paddy acreage slightly increasing to 3.25 million hectares. The Mahalanobis National Crop Forecast Centre reported that approximately 150,000 hectares were inundated, particularly in districts like Firozpur and Amritsar, impacting the quality of grains in an additional 50,000 to 70,000 hectares. Other states, including Maharashtra and Uttar Pradesh, also reported crop damage, particularly in soybean, cotton, and vegetables. Meanwhile, Haryana and Rajasthan faced partial losses in various crops due to heavy rainfall. The agriculture ministry is piloting digital crop surveys to enhance accuracy in assessments.
Published: Oct 24 2025, 9 pmeznews.inAt the Berlin Global Dialogue on Friday, Union Commerce Minister Piyush Goyal emphasized that India will not rush into a bilateral trade agreement (BTA) with the US under pressure or deadlines. His remarks come amid ongoing negotiations, complicated by India's continued purchase of Russian oil, which has led to significant tariffs imposed by Washington. Goyal stated that India is focused on long-term strategies and resilience, asserting that high tariffs will not deter the country from exploring new markets and boosting domestic demand. While officials indicate that both nations are close to finalizing the BTA, challenges remain, particularly regarding Russian oil and US demands for market access for genetically modified crops. Goyal also criticized the inconsistency in US sanctions, questioning why India is singled out when other nations, like Germany and the UK, have sought exemptions. Negotiations are ongoing, with discussions now taking place virtually.
Published: Oct 24 2025, 8 pmeznews.inDelhi's air quality showed signs of improvement on Friday, moving from the 'very poor' to the 'poor' category, with a 24-hour average Air Quality Index (AQI) of 275, according to the Central Pollution Control Board (CPCB). This positive shift comes as a western disturbance is expected to bring light rain to the region between October 27 and 29, potentially alleviating pollution levels further. While Anand Vihar recorded the highest AQI at 400, only six monitoring stations reported levels above 300, indicating 'very poor' air quality. The National Capital Region (NCR) also experienced similar trends, with areas like Gurugram and Ghaziabad falling into the 'poor' category. Notably, stubble burning incidents have decreased significantly this year, with 2,017 cases reported since mid-September, compared to 4,262 during the same period last year. The forecast suggests fluctuating air quality levels in the coming days.
Published: Oct 24 2025, 8 pmeznews.inDomestic airlines in India are set to increase their flight operations by approximately 6% in the upcoming winter schedule, as reported by the Directorate General of Civil Aviation (DGCA). This rise, amounting to 26,495 weekly flights (3,785 daily) across 126 airports, is attributed to new aircraft inductions and infrastructure enhancements, including the activation of four runways at Delhi airport. The winter season commences on October 26, with a sequential increase of 3.4% from the summer schedule, which had 25,610 approved flights. Notably, four new airports—Amravati, Hisar, Purnia, and Rupsi—will be added, while operations at several others, including Aligarh and Moradabad, will cease. IndiGo and SpiceJet are expanding their services significantly, with IndiGo planning 15,014 flights per week, representing 56% of the total, while SpiceJet aims for a 26.4% increase. Conversely, Air India Express and Akasa Air will reduce their flight numbers by about 6%.
Published: Oct 24 2025, 8 pmeznews.inKochi is set to host the 53rd Annual Sessions and Meetings (ASM) of the International Pepper Community (IPC) alongside the International Spice Exhibition at Le Meridien on October 28 and 29. Organized by the Commerce Ministry, the Spices Board, and the IPC, this year's theme, "Revitalizing Pepper Trade: Innovation, Equity, and Regional Resilience," highlights the need for a fresh approach to global spice trade amid increasing fragmentation. The two-day event will include the official launch of the IPC ASM ISE, the announcement of the IPC Best Awards 2024, and various technical sessions, exhibitions, and interactive forums. Delegates from key pepper-producing nations, spice exporters, processors, and research institutions are expected to attend, including Marina N. Anggraini, Executive Director of IPC, and P. Hemalatha, Secretary of the Spices Board. The IPC comprises permanent members such as India, Indonesia, and Vietnam, with Papua New Guinea and the Philippines as associate members.
Published: Oct 24 2025, 7 pmeznews.inThe Allahabad High Court has temporarily halted a ₹110 crore GST demand on Dabur India's 'Hajmola', a digestive product, pending further proceedings. The court's division bench, comprising Justices Indrajeet Shukla and Saumitra Dayal Singh, ruled that the classification of 'Hajmola' as either a normal candy, subject to an 18% GST rate, or an Ayurvedic preparation, which incurs a 12% rate, requires further examination. This issue has been previously adjudicated in Dabur's favor by the Supreme Court in 2022, which upheld the product's classification as an Ayurvedic medicine. Legal experts argue that attempts to reclassify 'Hajmola' contradict established judicial precedent and emphasize the need for consistency in classification disputes. The case highlights the importance of judicial discipline, particularly in light of the Supreme Court's prior rulings, and is set to be reviewed again in four weeks.
Published: Oct 24 2025, 7 pm
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