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US President Donald Trump has claimed that India has agreed to eliminate all import tariffs on American goods, asserting that the US will not tolerate India's high tariffs. However, Indian officials have not confirmed this statement, indicating that negotiations are still ongoing. Trump's remarks came during a White House media event coinciding with the announcement of a bilateral free trade agreement (FTA) between India and the UK. While trade officials from both nations are working on a bilateral trade agreement (BTA) to address tariffs, no final decisions have been reached. The US is pushing for significant tariff reductions on products like automobiles and whisky, as well as the removal of non-tariff barriers. Trump emphasized his control over trade negotiations, stating that he will dictate the terms. The first draft of the BTA is expected by fall 2025, with hopes for an interim deal during the current tariff pause. 
Published: May 07 2025, 9 pmeznews.inMumbai Metro Line 3 has expanded its operations, now connecting the Bandra-Kurla Complex (BKC) to Acharya Atre Chowk in Worli, with services commencing on Saturday. Previously, the Aqua Line was operational only between JVLR Aarey and BKC. Maharashtra Chief Minister Devendra Fadnavis inaugurated the 9.77 km phase 2A, which features six stations, including Dharavi and Siddhivinayak, and runs underground through the rockbed beneath the Mithi River. This extension aims to enhance connectivity to key business areas and popular sites, easing commutes for local residents. The metro will operate from 6.30 am to 10.30 pm, with a minimum fare of Rs 10 and a maximum of Rs 40 for the new stretch. The Mumbai Metro Rail Corporation (MMRC) plans to run 244 services daily, with travel times between BKC and Worli estimated at 15-20 minutes.
Published: May 10 2025, 12 pmeznews.inThe Indian stock market experienced a significant downturn on May 10, 2025, with the SENSEX falling by 880.34 points to close at 79,454.47, while the NIFTY dropped 265.80 points to 24,008.00. In contrast, crude oil prices rose by 44.00 to reach 5,207.00, and gold and silver saw increases of 342.00 and 19.00, respectively, closing at 96,510.00 and 96,748.00. Meanwhile, heightened security measures at airports across India, prompted by escalating military tensions between India and Pakistan, have led to potential flight delays. Although operations at Delhi's Indira Gandhi International Airport remain normal, officials warned that evolving airspace conditions could impact flight schedules and extend security processing times. Passengers are advised to arrive early and cooperate with security personnel to ensure smooth travel. On the same day, 138 flights were cancelled at the airport.
Published: May 10 2025, 10 ameznews.inBasmati rice, renowned for its long grains and aromatic flavor, is witnessing a significant rise in global demand, with the market projected to reach $31.6 billion by 2027, growing at a CAGR of 9.1%. This surge is driven by a growing preference for high-quality, healthy grains, particularly in Western markets. India, which dominates over 70% of global basmati exports, has seen a 14.93% increase in volume and a 22.05% rise in export value in FY 2023-24. The country benefits from a robust supply chain, favorable climate, and Geographical Indication status, ensuring quality and authenticity. However, challenges such as price volatility, regulatory changes, and competition from Pakistan necessitate strategic responses. Indian exporters are encouraged to enhance brand identity, innovate product offerings, and diversify markets beyond traditional buyers to capitalize on the burgeoning global appetite for premium basmati rice.
Published: May 10 2025, 10 ameznews.inIndia's dairy industry, the largest in the world, plays a vital role in the nation's agricultural economy, engaging over 80 million rural households and contributing significantly to GDP and nutritional security. However, traditional dairy farming practices face scrutiny due to environmental issues, particularly methane emissions, which account for up to 75% of greenhouse gases in the sector. To address these challenges, innovative solutions such as biogas production, technological advancements in farming processes, and genetic improvements are being implemented. Government initiatives like the White Revolution 2.0 and the GOBARDHAN Project aim to promote sustainable practices and enhance productivity. Additionally, programs like the Trust Dairy Project focus on empowering small farmers through sustainable technologies. For India to maintain its leadership in dairy while tackling environmental concerns, a comprehensive approach involving research, capacity building, market incentives, and supportive policies is essential, paving the way for a sustainable and prosperous agricultural future.
Published: May 10 2025, 9 ameznews.inIn response to ongoing tensions with Pakistan, the Indian government has extended the suspension of civilian flight operations at 24 airports until May 15, 2025. A Notice to Airmen (NOTAM) announced the extension, affecting airports in Jammu and Kashmir, Punjab, Himachal Pradesh, Rajasthan, and Gujarat, including Leh, Jammu, Srinagar, and Amritsar. Air India and IndiGo have both announced cancellations of flights to and from these regions, with Air India offering customers a one-time waiver on rescheduling fees or full refunds for cancellations. The precautionary measures, aimed at ensuring passenger safety, have led to the cancellation of over 360 flights as of May 9. Meanwhile, operations at Delhi's Indira Gandhi International Airport remain normal, although passengers may experience delays due to heightened security measures.
Published: May 09 2025, 9 pmeznews.inIndia has expressed strong objections to the International Monetary Fund (IMF) regarding its financial support for Pakistan, which includes a $1 billion Extended Fund Facility (EFF) and a $1.3 billion Resilience and Sustainability Facility (RSF). Although India abstained from voting, it raised concerns about the potential misuse of these funds for military and terrorism-related activities, citing Pakistan's poor track record with IMF programs. India's Finance Ministry highlighted that Pakistan has been a frequent borrower, receiving IMF assistance in 28 of the last 35 years, yet has failed to implement effective macroeconomic policies. The statement also criticized the significant influence of Pakistan's military in economic affairs, which poses risks to reform efforts. India warned that continued financial support could send a harmful message regarding the sponsorship of cross-border terrorism, undermining global values and exposing funding agencies to reputational risks.
Published: May 09 2025, 10 pmeznews.inThe Indian government has announced a significant reduction in the annual guarantee fee for start-ups in 27 champion sectors, lowering it from 2% to 1% per annum. This move is part of an expanded Credit Guarantee Scheme for Start-ups (CGSS), which aims to enhance lending confidence among financial institutions by doubling the guarantee cover per borrower from ₹10 crore to ₹20 crore. The scheme now offers 85% coverage for defaults on loans up to ₹10 crore and 75% for larger amounts. These initiatives are designed to stimulate financial flows, enabling start-ups to invest in research and development and foster innovation in manufacturing and services, as identified under the 'Make in India' initiative. Launched in 2016, the Startup India initiative aims to create a robust ecosystem for start-ups, with the CGSS introduced in October 2022 to support credit access through various financial institutions.
Published: May 09 2025, 10 pmeznews.inIn a significant escalation of drone warfare, Pakistan reportedly launched between 300 to 400 drones towards India on May 8, which India successfully intercepted using various defensive measures. This incident underscores the growing reliance on Unmanned Aerial Vehicles (UAVs) in modern conflicts, prompting India to enhance its drone capabilities. Companies like ideaForge and Zuppa Geo Navigation Technologies are actively engaging with the government to develop advanced UAV systems, including those for electronic warfare and surveillance. The Indian defence sector has seen increased procurement of cutting-edge drone technology, spurred by initiatives like iDEX, with over 100 start-ups now catering to military needs. Experts warn that the conflict's trajectory may mirror the Russia-Ukraine war, necessitating rapid advancements in drone technology. The Drone Rules of 2021 have further catalyzed local R&D, solidifying drones as a preferred choice in global military strategies due to their cost-effectiveness and operational safety.
Published: May 09 2025, 8 pmeznews.inRamraj Cotton, a textile manufacturer based in Tiruppur, has inaugurated a new showroom at the Puratchi Thalaivar Dr MG. Ramachandran Central Railway Station, marking the start of a five-year licensed store. Located in the station's newly developed concourse, this initiative aims to enhance the commercial offerings at the station and aligns with Southern Railways' strategy to optimize retail spaces at key transit hubs. The addition of the Ramraj Cotton store is expected to enrich the station's retail ecosystem and support the local textile industry. Alongside Ramraj, the new concourse also features outlets from A2B and Madras Coffee House, further diversifying the station's commercial landscape. This development reflects a broader effort to improve accessibility and economic viability within railway stations, as highlighted in a recent release.
Published: May 09 2025, 9 pmeznews.inIndia's textile sector is poised for significant growth, with management consulting firm Primus Partners projecting exports could exceed $100 billion within five years, up from approximately $36.6 billion in FY25. The firm’s roadmap emphasizes diversifying export offerings, enhancing skilled manpower, and improving infrastructure to position India as a leading global textile manufacturer amid shifting trade dynamics. Key strategies include integrating Industry 4.0 technologies to reduce operational waste by 15%, establishing specialized training centers in Tier 2 and Tier 3 cities, and leveraging recent free trade agreements, particularly with the UK and the US. Kanishk Maheshwari, Co-Founder of Primus Partners, highlighted the importance of these recommendations in boosting India's competitiveness and attracting investments. The textile industry, a cornerstone of India's economy contributing 2.3% to GDP and 10.5% to total exports, stands ready to capitalize on these opportunities for sustained growth and global leadership.
Published: May 09 2025, 9 pm
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