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US President Donald Trump announced plans to send letters to various countries detailing specific tariff rates, starting Friday, as negotiations for comprehensive trade deals have proven challenging. India is optimistic about finalizing an interim trade agreement with the US before the July 9 deadline, which marks the end of a 90-day pause on reciprocal tariffs. Indian negotiators are currently in Washington, focusing on protecting key sectors, particularly agriculture and dairy, during discussions. Trump indicated a preference for outlining tariff rates in letters rather than pursuing extensive trade agreements, although he acknowledged that some deals are in the pipeline. The US has already imposed a 26% reciprocal tariff on Indian goods, while a recent agreement with Vietnam established a 20% tariff on Vietnamese imports. The outcome of the ongoing negotiations could pave the way for a more comprehensive bilateral trade agreement by Fall 2025. 
Published: Jul 04 2025, 10 ameznews.inThe European Centre for Medium-Range Weather Forecasts has predicted that Central India, particularly Chhattisgarh and Madhya Pradesh, will experience the heaviest rainfall over the next three days as the monsoon intensifies into early July. The India Meteorological Department (IMD) has issued warnings for fishermen, advising a suspension of fishing operations in the Arabian Sea and Bay of Bengal due to strong winds. Isolated areas in East Madhya Pradesh and Himachal Pradesh are expected to see extreme rainfall exceeding 21 cm within 24 hours. A robust monsoon trough, coupled with a secondary trough from the Arabian Sea to the Bay of Bengal, is driving this surge in precipitation. The IMD forecasts widespread rainfall across various regions, including the West Coast and North-West India, with heavy rain expected in several states over the coming days, contributing to a national rainfall total that is currently 12% above normal.
Published: Jul 04 2025, 6 pmeznews.inTea prices in Kochi auctions have surged, particularly for orthodox varieties, driven by strong demand from international buyers following a ceasefire between Iran and Israel. In sale 27, the market for whole leaf tea saw prices increase by ₹5-10 per kilogram, with 2,70,446 kg offered and a sales rate of 95%. Auctioneers Forbes, Ewart & Figgis reported active participation from exporters to West Asian and CIS countries, resulting in an average price rise to ₹183, up from ₹180 the previous week. Conversely, the CTC dust market faced challenges, with only 63% of good CTC brokens sold from 39,000 kg offered, while overall sales for CTC dust were lower at 84% from 5,96,658 kg. The average price for CTC dust fell to ₹143, down ₹2 from the previous week, reflecting declining local sales. The orthodox dust market also showed irregular trends, with 10,500 kg offered.
Published: Jul 04 2025, 5 pmeznews.inCochin Shipyard Limited has entered into a strategic memorandum of understanding (MoU) with South Korea's HD Korea Shipbuilding & Offshore Engineering Co. Ltd. (KSOE) to enhance India's shipbuilding capabilities. The agreement focuses on joint project exploration, technical knowledge exchange, and workforce upskilling, aligning with India's Maritime India Vision 2030 and Amrit Kaal Vision 2047. This collaboration aims to boost domestic shipbuilding through global partnerships and is supported by the ₹25,000 crore Maritime Development Fund, which seeks to modernize ports and upgrade infrastructure. KSOE, a leader in shipbuilding and marine engineering, will assist in elevating India's shipbuilding standards and productivity. The MoU represents a significant advancement in strengthening India's maritime sector, fostering self-reliance and competitiveness on a global scale.
Published: Jul 04 2025, 5 pmeznews.inCochin International Aviation Services Limited (CIASL) has launched a ₹50 crore project to establish Kochi as a key aircraft maintenance hub in India. The initiative was inaugurated by CIASL Chairman S. Suhas, who laid the foundation for the new Maintenance, Repair, and Overhaul (MRO) hangar at Cochin International Airport. Spanning 53,800 sq ft, the facility is set to be completed within eight months and will cater to a variety of aircraft, including business jets and helicopters. This expansion aims to reduce reliance on international MRO services, which currently lead to significant foreign exchange outflows. Suhas emphasized the project's role in creating a self-sufficient aviation ecosystem in Kerala, while CIASL Managing Director Santhosh J. Poovattil highlighted plans for a second phase of development worth ₹150 crore. The hangar will also feature Kerala's first covered aircraft parking facility, enhancing protection for aircraft against adverse weather conditions.
Published: Jul 04 2025, 5 pmeznews.inIn a significant development for Tamil Nadu's maritime infrastructure, Mahathi Cuddalore Port and Maritime Pvt Ltd has signed a Memorandum of Understanding (MoU) with the Tamil Nadu Maritime Board to revitalize the defunct Cuddalore port. The agreement, witnessed by Chief Minister MK Stalin, aims to enhance operations at the minor port, which has suffered from continuous silting. Originally developed at a cost of ₹160 crore, the port features a depth of approximately 2.5 meters at low tide and 3-4 meters alongside the wharf. Mahathi Infra Services Pvt. Ltd (MISPL), the Hyderabad-based company behind the initiative, has a robust track record in oil and gas infrastructure projects, with an order book valued at ₹734.70 crore as of June 30, 2024. The company has been involved in various projects across India, Liberia, and Uganda, indicating a strong international presence in the sector.
Published: Jul 04 2025, 4 pmeznews.inIndia has proposed retaliatory duties against the United States under World Trade Organization (WTO) norms in response to US tariffs on its automobile sector, which it claims violate international trade agreements. The Indian government notified the WTO's Council for Trade in Goods of its intention to suspend concessions by increasing tariffs on selected US products. This move follows the US's implementation of a 25% tariff on imports of passenger vehicles, light trucks, and certain automobile parts from India, effective May 3, 2025. India argues that these measures, which have not been formally notified to the WTO, are inconsistent with the General Agreement on Tariffs and Trade (GATT) and the agreement on Safeguards. With annual imports affected amounting to $2.9 billion, India’s proposed tariffs could yield approximately $723.75 million in duties from US goods, complicating ongoing negotiations for a trade agreement between the two nations.
Published: Jul 04 2025, 4 pmeznews.inUnion Minister of Coal and Mines, G Kishan Reddy, emphasized the transformative potential of mine closure during the Indian National Committee meeting of the World Mining Congress in Hyderabad, stating it represents a "new beginning" for communities. He introduced the 6Rs philosophy—Reclamation, Repurposing, Rehabilitation, Revegetation, Remediation, and Relinquishment—to guide responsible mine closures, noting that ten mines have been closed with scientific planning and 147 more identified for timely closure. The Ministry has revised guidelines to enhance monitoring and community engagement in mine closure plans, aligning with India's goals of self-reliance in mineral resources and environmental sustainability. Reddy highlighted reforms that have made mineral block allocation more transparent, with over 500 blocks auctioned, and reported a coal production exceeding 1 billion tonnes. He also announced initiatives like the National Critical Minerals Mission to bolster India's green growth and manufacturing ambitions, showcasing successful repurposing projects that benefit local communities.
Published: Jul 04 2025, 4 pmeznews.inAir India Express has come under scrutiny after the Directorate General of Civil Aviation (DGCA) reprimanded the airline for failing to timely replace engine parts on an Airbus A320, as mandated by the European Union Aviation Safety Agency (EASA). A confidential government memo revealed that the airline had allegedly falsified maintenance records to indicate compliance. The issue was flagged in March, months before a tragic Boeing Dreamliner crash in June that killed 241 people. Air India Express, a subsidiary of Tata Group-owned Air India, acknowledged the oversight and stated it has taken remedial actions, including personnel changes. The EASA had issued an airworthiness directive due to potential safety risks associated with CFM International LEAP-1A engines, warning that failure to address these issues could lead to catastrophic consequences. The DGCA has previously warned Air India for various safety violations, highlighting ongoing concerns about the airline's operational standards.
Published: Jul 04 2025, 3 pmeznews.inThe Shriram Mobility Bulletin for June 2025 reveals a robust recovery in India's logistics, mobility, and electric vehicle sectors, driven by pre-Kharif agricultural activities and a manufacturing push towards exports. Truck rentals increased across major routes, with the Kolkata-Guwahati corridor rising 2.4% month-on-month and 14% year-on-year. Despite a month-on-month dip in fuel consumption, petrol and diesel sales rose year-on-year by 6.4% and 1.2%, respectively. Vehicle retail sales showed mixed results; while overall numbers fell due to seasonal factors, agricultural tractors and construction equipment saw significant growth. The electric vehicle market thrived, with e-two wheelers up 5% month-on-month and a staggering 254% year-on-year. YS Chakravarti, CEO of Shriram Finance, noted a positive shift in economic momentum, highlighting the resilience of export-driven freight and the transportation sector's recovery as promising indicators for the upcoming quarter.
Published: Jul 04 2025, 3 pmeznews.inIn a significant boost for apple growers nationwide, the Indian government has increased the minimum import price (MIP) of apples from ₹50 to ₹80 per kg, effective June 3, 2025. This decision, announced by Bharatiya Janata Party (BJP) spokesperson Chetan Singh Bragta during a press conference in Shimla, reflects the Modi administration's commitment to supporting farmers and horticulturists. Bragta hailed the MIP hike as a bold move to combat illegal foreign apple imports and ensure fair prices for local producers. He noted that this policy builds on the government's previous introduction of an MIP in 2023, a first for any administration. Emphasizing India's agricultural self-reliance, he pointed out that no apples have been imported from China since 2018. Bragta also criticized the Congress-led Himachal Pradesh government for its lack of support for orchardists, while reaffirming the central government's dedication to enhancing farmer incomes and interests.
Published: Jul 04 2025, 3 pm
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