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Steel manufacturers in India are calling on the government to implement further measures to combat rising imports, particularly from China, which produced 746.3 million tonnes (MT) of crude steel from January to September—over six times India's output of 122.4 MT during the same period. In September alone, China's production reached 73.5 MT, dwarfing India's 13.6 MT. The domestic stainless steel sector is operating at only 60% capacity due to import pressures, despite the government's introduction of over 100 quality control orders aimed at restricting non-compliant steel products. The Directorate General of Trade Remedies (DGTR) has recommended a 12% provisional safeguard duty on certain steel imports, but the stainless steel industry is seeking additional protections. A high-level NITI Aayog committee is set to meet with industry leaders next week to address these concerns, as India continues to grapple with a surge in steel imports, impacting domestic prices and competitiveness. 
Published: Nov 02 2025, 12 pmeznews.inIndia's coffee exports have reached a remarkable $1.80 billion in the financial year 2024-25, marking a 40.2% increase from the previous year, according to the Department of Commerce. This growth is attributed to rising global demand for India's unique coffee flavors, with exports during April to September 2025 alone hitting $1.07 billion, a 16% rise year-on-year. The country, now the seventh-largest coffee producer globally, primarily exports Arabica and Robusta beans, with a growing interest in value-added products like roasted coffee. Prime Minister Narendra Modi highlighted the increasing global popularity of Indian coffee in his recent 'Mann ki Baat' broadcast, praising regions such as Karnataka, Kerala, and Odisha for their diverse coffee offerings. He noted the positive impact of coffee cultivation on local livelihoods, particularly in Koraput, where passionate farmers are transforming their lives through coffee production.
Published: Nov 02 2025, 8 pmeznews.inA recent analysis of Goods and Services Tax (GST) collection data reveals a mixed performance across key Indian states for October 2025. While Haryana's collections remained flat, Delhi, West Bengal, and Rajasthan experienced declines, contributing to a broader trend where 20 out of 36 states and Union Territories reported a decrease of up to 24%. Notably, six of the eight North Eastern states also saw a drop in collections. This decline is attributed to muted consumer demand in early September, with many discretionary purchases postponed in anticipation of price reductions. However, economists from SBI project that overall GST revenue for FY26 will exceed budget estimates, bolstered by anticipated increases in November due to festive demand and improved consumer confidence. The report indicates that states like Karnataka and Telangana have actually seen gains, countering fears of significant revenue losses post-rationalization.
Published: Nov 02 2025, 6 pmeznews.inIndia's exports to the United States have plummeted for the fourth consecutive month, with a staggering 37.5% decline from May to September 2025, according to the Global Trade Research Initiative (GTRI). This drop, attributed to steep US tariff hikes that began at 10% and escalated to 50%, has severely impacted key sectors, including smartphones and pharmaceuticals. Exports of smartphones alone fell by 58%, while pharmaceutical shipments decreased by 15.7%. Labour-intensive sectors, which constitute nearly 60% of India's US exports, also suffered a 33% decline. GTRI warns that without urgent government intervention, India risks losing market share to competitors like Vietnam, Mexico, and China, particularly in areas where it once thrived. Exporters are calling for immediate measures, including enhanced financial support and faster duty remission, to mitigate the adverse effects of these tariffs and address underlying vulnerabilities in India's export landscape.
Published: Nov 02 2025, 7 pmeznews.inIndia is set to introduce group e-visas for cruise ship passengers by mid-2026, aiming to streamline entry processes at sea ports and double cruise passenger traffic to one million by 2029. This initiative, discussed during the recent India Maritime Week, will allow ship agents to apply for e-visas for all passengers collectively, expediting the visa process. Joint Director Anoop Krishna highlighted ongoing improvements, including a dedicated software for faster processing and the removal of e-landing permit requirements. Customs Commissioner Shraddha Joshi Sharma emphasized efforts to reduce compliance burdens for cruise operators. Despite these advancements, challenges remain, including geopolitical issues that have led to cancellations of Indian port calls and a lack of international cruise lines home-porting in India this season. Industry insiders express concerns over taxation and procedural hurdles that still deter cruise operators from fully engaging with the Indian market.
Published: Nov 02 2025, 6 pmeznews.inBengal Governor C. V. Ananda Bose inaugurated the National Convention of CA Students in Kochi, organized by the Institute of Chartered Accountants of India (ICAI) Board of Studies. Addressing the gathering, he highlighted the pivotal role of chartered accountants in India's transformation into a powerful nation. Justice Devan Ramachandran praised the Indian Constitution, urging youth to embrace honesty and strive for excellence as a fundamental duty. ICAI President Charanjot Singh Nanda emphasized the community's commitment to supporting India's economic ambitions and lauded the impressive achievements of CA students from Kerala, who serve as national role models. The event attracted around 1,500 students and featured speeches from notable figures including Babu Abraham Kallivayalil, Rohit Ruwadiya, Sanjib Sanghi, A. S. Anand, Deepa Varghese, and Jolly Stephen, underscoring the importance of integrity and leadership among the youth.
Published: Nov 02 2025, 5 pmeznews.inA tragic collision between a truck and a PUNBUS on Sirhind Road in Patiala resulted in one fatality and left 12 others injured, highlighting ongoing concerns about road safety in India. In response, the Ministry of Road Transport and Highways has announced new penalties for contractors responsible for stretches of National Highways built under the build-operate-transfer (BOT) model. If more than one accident occurs within a year on a 500-meter stretch, contractors will face fines starting at ₹25 lakh, escalating to ₹50 lakh for subsequent incidents. The ministry has identified 3,500 accident-prone areas and is also set to launch a cashless treatment scheme for road accident victims, providing up to ₹1.5 lakh for the first seven days of medical care at designated hospitals. This initiative aims to improve timely medical intervention and reduce fatalities from road accidents across the country.
Published: Nov 02 2025, 3 pmeznews.inIndia's fuel consumption has surged to near-record levels since March 2025, with May marking an all-time high. The demand for diesel, petrol, and jet fuel has been particularly strong during the festival season, aided by recent cuts in Goods and Services Tax (GST) rates. In October 2025, diesel consumption reached a four-month high of 7.6 million tonnes, a 12% increase month-on-month, while petrol usage rose over 7% to 3.45 million tonnes. Aviation turbine fuel consumption also saw a 7% month-on-month increase. Factors driving this growth include rising demand from the agricultural sector ahead of the Rabi season and a rebound in mining activities. The International Energy Agency projects that India will lead global oil demand growth, with petrol and jet fuel consumption expected to rise significantly due to an expanding middle class and increasing affluence.
Published: Nov 02 2025, 4 pmeznews.inIndia's agricultural trade body, APEDA, reported a decline in rice exports to Mauritius, dropping from over 50,000 tonnes in 2023-24 to approximately 42,000 tonnes in 2024-25, which includes around 31,500 tonnes of Basmati rice. Mauritius, which imports between 50,000 and 60,000 tonnes of rice annually, is seeking a long-term agreement with India to secure its rice supply amid fluctuating market conditions. Takesh Luckho, chairman of the State Trading Corporation of Mauritius, emphasized the importance of such an agreement, particularly after India's ban on non-Basmati rice exports led to increased competition from Pakistan. Currently, Mauritius sources rice through open tenders, purchasing about 33,000 tonnes annually for government use, while private traders import a similar amount. Luckho noted that a long-term deal could stabilize prices and ensure a consistent supply for the island nation, which has a subsidy scheme to make rice affordable for its population.
Published: Nov 02 2025, 4 pmeznews.inIndia's petrol sales reached a five-month high in October, driven by festive travel, with consumption rising 7% year-on-year to 3.65 million tonnes, up from 3.4 million tonnes in September. In contrast, diesel sales, which account for nearly 40% of the country's fuel consumption, saw a slight decline to 7.6 million tonnes, down from 7.64 million tonnes in October 2023. This marks a deviation from the typical seasonal rebound in diesel demand following the rainy season. Meanwhile, aviation fuel (ATF) consumption increased by 1.6% to 769,000 tonnes, reflecting a recovery in air travel, while LPG sales rose 5.4% to nearly 3 million tonnes, bolstered by increased household demand and the addition of 2.5 million new homes to the subsidised LPG supply scheme. Overall, petrol consumption for the fiscal year to date has risen by 6.8%, while diesel sales have increased by 2.45%.
Published: Nov 02 2025, 1 pmeznews.inIn a recent update, the Indian stock market saw a decline, with the SENSEX closing at 83,938.71, down by 465.75 points, while the NIFTY fell by 155.75 points to settle at 25,722.10. In commodities, crude oil prices rose slightly by 29.00 to reach 5,420.00, whereas gold and silver experienced declines, with gold priced at 121,300.00, down by 208.00, and silver at 148,424.00, down by 416.00. Meanwhile, tea production in India faced a significant drop, with total output in September 2025 falling by 5.9% to 159.92 million kilograms compared to the previous year. Assam's production remained stable at 94.76 million kilograms, while West Bengal's output decreased to 40.03 million kilograms. Overall, North India's tea production fell to 138.65 million kilograms, and South India saw a slight decline to 21.27 million kilograms.
Published: Nov 02 2025, 1 pm
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