eznews.in
TraceX Technologies, an agrifood and climate tech start-up, has unveiled an innovative AI tool designed to streamline compliance with the EU's Deforestation Regulation (EUDR), set to take effect in December 2025. The EUDR mandates that all products exported to the EU must be legally sourced and deforestation-free, requiring exporters to provide traceability proofs and due diligence statements. Many small and medium-sized exporters face challenges with high compliance costs and complex supply chains. TraceX's AI tool automates the traditionally manual processes involved in compliance, significantly reducing preparation time for due diligence statements by up to 80%. The tool enhances accuracy and integrates with existing systems, addressing the fragmented nature of supply chains. Founder Srivatsa Sreenivasarao highlighted the economic implications for Indian exporters, with a report estimating that $1.3 billion in exports, particularly in agriculture and forest-derived products, could be affected by the new regulations. 
Published: Aug 06 2025, 12 pmeznews.inIn a significant legislative move, the Indian Parliament has passed two key maritime bills aimed at modernizing the country's shipping sector. The Lok Sabha approved the Merchant Shipping Bill, 2025, which replaces the outdated Merchant Shipping Act of 1958, aligning India's maritime laws with global standards and enhancing seafarer welfare and ship safety. Union Minister for Ports, Shipping & Waterways, Sarbananda Sonowal, emphasized that these reforms will reduce compliance burdens and position India as a trusted maritime trade hub. Meanwhile, the Rajya Sabha passed the Carriage of Goods by Sea Bill, 2025, which adopts the internationally recognized Hague-Visby Rules, simplifying maritime trade laws and reducing litigation risks. Together, these bills are expected to enhance transparency and commercial efficiency in cargo movement by sea, marking a pivotal step towards a more efficient and globally aligned maritime policy framework in India.
Published: Aug 06 2025, 8 pmeznews.inDuring the ongoing kharif cropping season, interest in hybrid rice varieties is surging among farmers in India, with a projected 6-8% increase in acreage compared to last year, according to Simon Wiebusch, Country Divisional Head at Bayer CropScience. The early onset of monsoon has contributed to a 17% rise in rice plantings, reaching 31.94 million hectares. While hybrid rice currently occupies only 6% of India's 43 million hectares of rice land, adoption rates in key eastern markets are closer to 15%. Hybrid rice offers yields 15-20% higher than traditional varieties and demonstrates better resilience to adverse conditions. Industry leaders emphasize the need for state incentives to promote hybrid adoption, which is more water-efficient and sustainable. With tailored hybrid options available, farmers can optimize crop cycles and enhance returns, reinforcing the positive outlook for hybrid rice in the coming seasons.
Published: Aug 06 2025, 8 pmeznews.inIndia's solar photovoltaic (PV) manufacturing capacity has reached 18.6 gigawatts (GW) for modules and nearly 10 GW for cells under the government's Production Linked Incentive (PLI) scheme, as reported by Minister of State for New & Renewable Energy Shripad Naik in the Rajya Sabha. As of June 30, 2025, the PLI scheme has facilitated the installation of 18.5 GW of solar modules, 9.7 GW of solar cells, and 2.2 GW of ingot-wafers. The operational timeline for these capacities is contingent on various factors, including land acquisition and equipment procurement. The first tranche of the PLI scheme has awarded contracts to three companies, including Reliance Industries and Adani New Industries, for 8.737 GW of manufacturing units, while the second tranche has allocated 39.6 GW to 11 bidders. The initiative aims to bolster domestic production and reduce reliance on imports, with solar module imports dropping significantly from $3.36 billion in FY22 to $2.15 billion in FY25.
Published: Aug 06 2025, 7 pmeznews.inIndian automobile manufacturers have submitted 30 applications to China for rare earth magnets, crucial for electric vehicle (EV) production, but none have been approved yet. Rakesh Sharma, Executive Director of Bajaj Auto, noted that while heavy rare earth magnets remain restricted, they are shifting to light rare earth magnets, which are under scrutiny but are beginning to be supplied. The company anticipates a 60% production capacity for electric two-wheelers in August, with hopes of stabilizing the supply chain within six to nine months. Alternatives to rare earth magnets are being explored, but options remain limited and unproven for large-scale production. Mahindra & Mahindra expressed confidence in its electric vehicle lineup, having already adapted to the scarcity. Meanwhile, Bajaj Auto has postponed EV launches due to supply issues, with experts suggesting that China's restrictions are a strategic move to control the market and prices.
Published: Aug 06 2025, 7 pmeznews.inThe domestic maintenance, repair, and overhaul (MRO) sector in India is poised for significant growth, with projections indicating it could reach a $4 billion market by 2030, according to Guruprasad Mysore, Business Leader at Honeywell India. The expansion of the civil aviation sector, now the third-largest globally, is driving this optimism, prompting Honeywell to consider substantial investments in local manufacturing and MRO capabilities. Mysore noted that over 3,000 engineers at Honeywell's 'Centers of Excellence' are developing advanced aviation technologies, which are crucial for the industry. The government is also advocating for enhanced onshore MRO capabilities, aiming to increase the share of Indian MRO entities from 14% to 50% by 2030. Industry estimates suggest that establishing a greenfield MRO facility could require an investment of $150-200 million, which would help reduce turnaround times and operational costs while creating job opportunities.
Published: Aug 06 2025, 7 pmeznews.inIn south Kashmir's Pulwama district, a significant almond harvest has brought optimism to local farmers, yet concerns loom over the shrinking farmland that threatens the future of almond cultivation. Farmers report that the conversion of orchards into residential and commercial spaces, along with a shift to more lucrative crops like apples, jeopardizes the long-term viability of the almond industry. Official data reveals a drastic decline in almond orchards, from 16,374 hectares in 2006-07 to just 4,177 hectares by 2019-20, with production dropping from 15,183 tonnes to 9,898 tonnes. Farmers also face challenges due to the absence of a centralized market, forcing them to sell to middlemen at low prices. To counter these issues, growers are advocating for high-density almond varieties to enhance productivity, a move supported by the local horticulture department, which plans to develop its own orchard soon.
Published: Aug 06 2025, 7 pmeznews.inIn a significant escalation of trade tensions, US President Donald Trump has announced a 25% additional tariff on goods imported from India, citing New Delhi's ongoing purchases of Russian oil as the primary reason. The executive order was signed just 14 hours before the initial tariffs were set to take effect on August 7, bringing the total tariff on Indian goods, excluding a limited exemption list, to 50%. The new levy will be implemented 21 days after the initial tariffs. This move underscores the growing friction between the two nations over trade practices and geopolitical alliances. The situation remains fluid as further developments are anticipated.
Published: Aug 06 2025, 7 pmeznews.inHarjinder Kang, the UK's Trade Commissioner for South Asia, has expressed optimism about the India-UK free trade agreement (FTA), which he believes could significantly boost economic growth for both nations. In a recent interview, Kang emphasized that the negotiations, which took over four years, were characterized by a commitment to mutual benefit, resulting in a balanced deal rather than a one-sided advantage. He noted that 99% of UK tariffs and 90% of Indian tariffs have been liberalized, enhancing two-way trade by $25.5 billion. While acknowledging challenges, including the need for cabinet approval in India and parliamentary scrutiny in the UK, Kang remains confident in the deal's operationalization. He also highlighted the importance of building strong relationships during negotiations and the need for businesses to understand the opportunities presented by the FTA, which aims to reshape perceptions of India as a high-tariff country.
Published: Aug 06 2025, 6 pmeznews.inIndian Prime Minister Narendra Modi is set to visit China for the first time in over seven years, attending the Shanghai Cooperation Organisation (SCO) summit in Tianjin starting August 31. This visit signals a potential thaw in Sino-Indian relations, which have been strained since a military clash in 2020. Modi's trip comes amid escalating tensions with the United States, where President Donald Trump has imposed high tariffs on Indian goods and threatened further penalties related to India's Russian oil purchases. As Modi prepares for the summit, India's National Security Adviser Ajit Doval is in Russia to discuss defense cooperation and oil imports, while Foreign Minister Subrahmanyam Jaishankar is expected to follow. Despite the tariff uncertainties, the Reserve Bank of India has maintained its GDP growth forecast at 6.5%, indicating that the impact on India's $4 trillion economy may be limited.
Published: Aug 06 2025, 6 pmeznews.inAPM Terminals Pipavav has signed a contract with L&T Geostructure Pvt. Ltd. to construct a new liquid jetty and associated marine infrastructure at Pipavav port in Gujarat. This development is anticipated to enhance the port's capacity to handle a diverse range of cargo, improve service reliability, and future-proof its operations. Additionally, the company has engaged Van Oord India Pvt. Ltd. for essential capital dredging and reclamation works related to the project. Girish Aggarwal, Managing Director of APM Terminals Pipavav, emphasized the company's commitment to Gujarat's growth, stating that these strategic contracts aim to transform investment into tangible benefits. He highlighted the ongoing support from the Gujarat Maritime Board as crucial in advancing infrastructure that bolsters the state's maritime capabilities, aligning with the vision presented at the Vibrant Gujarat Global Summit.
Published: Aug 06 2025, 5 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact