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India's engineering goods exports for the fiscal year 2024-25 are projected to fall short of the targeted $118 billion, potentially reaching only $115 billion, according to the Engineering Export Promotion Council (EEPC). This decline follows a 7% drop in exports in February, with a similar trend expected in March, largely attributed to US President Donald Trump's recently imposed 25% tariffs on steel and aluminium. EEPC Chairman Pankaj Chadha noted that approximately $5 billion of India's annual $20 billion engineering exports to the US would be impacted, with $1 billion already in transit facing tariffs upon arrival. As the US remains the primary market for Indian engineering goods, the industry faces challenges in diversifying due to increased competition and tariffs affecting all exporting countries. New Delhi is negotiating tariff concessions under a Bilateral Trade Agreement (BTA) to mitigate the impact of reciprocal tariffs set to take effect on April 2. 
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Mar 21 2025, 7 pmeznews.inThe air transport flower trade has experienced remarkable growth, soaring from $852 million in 2003 to $3.7 billion in 2024, marking a four-fold increase. The market dynamics have shifted significantly, with the US, Netherlands, and UK as key players. In 2003, the US accounted for 66.3% of imports, but by 2024, this share dropped to 53.6%, while the Netherlands surged to 31.2%. Colombia, once the leading exporter with a 50.2% share, has seen its market share decline to 42.3%, as Ecuador, Kenya, and Ethiopia have gained ground. This transformation is attributed to trade agreements that lowered tariffs and advancements in air cargo logistics. Meanwhile, the International Air Transport Association (IATA) is advocating for the swift adoption of digital identity technologies to bolster aviation security and operational efficiency, emphasizing the need for global cooperation in implementing verifiable credentials and decentralized identifiers.
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Mar 23 2025, 10 pmeznews.inIn a significant disruption to rail services, at least 27 trains passing through Ahmedabad were fully or partially cancelled on Monday following an incident involving a mobile gantry crane used in the construction of the Ahmedabad-Mumbai bullet train corridor. The crane skidded from its position around 11 PM on Sunday while retracting after launching a concrete girder, affecting the adjacent railway line. The National High-Speed Rail Corporation Ltd (NHSRCL) confirmed that no casualties occurred and that there was no damage to the existing structure. Among the fully cancelled services are the Ahmedabad-Mumbai Central Karnavati Express, Double Decker Express, Gujarat Queen, and Gujarat Express, while Vande Bharat and Shatabdi Express trains have been partially cancelled, terminating at Vadodara. Additionally, five trains have been rescheduled and six diverted, according to Western Railway sources. Senior NHSRCL officials are currently on-site to manage the situation.
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Mar 24 2025, 8 ameznews.inHyFarm, the agri-business arm of Ahmedabad's HyFun Foods Ltd., has established four "Vigyaanshalas" or centres of excellence for potato cultivation in Gujarat, aimed at enhancing the quality and yield of various potato varieties. CEO S Soundararadjane explained that these demonstration plots, ranging from 2.5 to 4 acres, allow for tailored farming practices based on regional soil types. The centres focus on three main objectives: improving existing varieties, determining optimal fertilizer doses, and ensuring year-round potato supplies for processing plants. Trials include testing different fertilizer regimes and spacing for seed beds, with an emphasis on sustainability and regenerative agriculture. Additionally, the centres are exploring climate-resilient varieties suitable for varying conditions, including early Rabi planting. By addressing storage efficiencies and aiming for continuous supply, HyFarm seeks to mitigate past supply disruptions and enhance the potato processing sector's reliability.
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Mar 24 2025, 9 ameznews.inKolkata-based logistics firm Western Carriers is optimistic about a rebound in its export-import cargo business in the upcoming financial year, attributing this to the gradual resolution of the Red Sea crisis, which had severely disrupted international trade in 2024. Kanishka Sethia, the company's Director and CEO, noted that the geopolitical tensions had led to erratic vessel schedules and congestion at transshipment ports, but improvements are now anticipated. Despite the challenges, Western Carriers reported stable revenue over the past nine months, driven by robust domestic demand, particularly from the industrial and MSME sectors in western India. Looking ahead to FY26, the company plans to expand its presence across key sectors, including metals, FMCG, and pharmaceuticals, while focusing on optimizing costs and improving turnaround times to enhance profitability. With extensive experience in multimodal logistics, Western Carriers aims to capitalize on the improving supply chain conditions.
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Mar 23 2025, 10 pmeznews.inIndia's wind power generation saw a slight decline of 0.38% in the current financial year, producing 73,621 million units (MU) from April to January, compared to 73,899 MU in the same period last year. While states like Gujarat, Tamil Nadu, and Karnataka reported increases in wind power output, others, including Rajasthan and Andhra Pradesh, experienced significant declines of 17% and 16%, respectively. Experts attribute these fluctuations to variations in wind patterns, particularly during the FY25 monsoon season, although a recovery was noted in December and January. In contrast, solar power generation surged by 22.6%, reaching 114,425 MU. Industry leaders emphasize that despite challenges, wind energy remains vital for India's renewable sector, with substantial growth potential, especially as the government aims for 500 GW of clean energy capacity by 2030. Clean power auctions also saw a significant increase, reflecting a shift towards hybrid projects combining wind, solar, and energy storage.
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Mar 23 2025, 8 pmeznews.inChina is increasingly utilizing Mexico and Canada as transshipment hubs to send small packages to the United States, effectively bypassing tariffs through the US De Minimis Rule, which allows goods valued at $800 or less to enter duty-free. Major transit points include Tijuana and Monterrey in Mexico, and Vancouver and Toronto in Canada. This logistics strategy, supported by e-commerce platforms like Temu and Shein, reduces shipping times from 10-30 days to just 3-7 days. Chinese companies also leverage the US-Mexico-Canada Agreement (USMCA) by establishing near-shore assembly units to claim North American origin for goods, thus benefiting from preferential treatment. However, the USMCA's rules of origin require substantial transformation for eligibility, posing challenges for companies that may only repackage or relabel products. As the trade landscape evolves, the sustainability of this logistics model remains uncertain.
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Mar 23 2025, 9 pmeznews.inThe long-standing demand for a five-day banking week is gaining traction within the Indian government, with Finance Minister Nirmala Sitharaman's office now actively discussing the issue. A senior official from the Department of Financial Services (DFS) confirmed this during a recent conciliation meeting between the United Forum of Bank Unions (UFBU) and the Indian Banks’ Association (IBA). Following assurances from the Chief Labour Commissioner (CLC) that the demand would be monitored, the UFBU has decided to defer a planned strike on March 24-25, expressing optimism for a resolution. Union representatives highlighted that the five-day work week, previously agreed upon in the 12th Bipartite Settlement, would enhance employee well-being while ensuring customer service efficiency through digital banking. Additionally, the DFS reported progress in filling vacancies for workmen and officer directors in Public Sector Banks, with 14 names submitted for approval, addressing a decade-long issue of unfilled posts.
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Mar 23 2025, 9 pmeznews.inThe Indian government is set to launch the PM Dhana Dhaanya Yojana (PMDDY) aimed at enhancing farmers' incomes in 100 aspirational districts, benefiting approximately 1.6 crore farmers. Announced in the recent Budget, the initiative focuses on improving productivity, credit access, irrigation, and post-harvest management in areas with low agricultural output. Agriculture Minister Shivraj Singh Chouhan highlighted the need for a flexible policy that allows farmers to choose quality products, addressing concerns over substandard equipment that can deter participation in subsidy programs. The government is also integrating various irrigation schemes to ensure reliable water supply. Additionally, the Committee on Doubling Farmers’ Income has identified key growth areas, including crop productivity and diversification into high-value crops. Recent data indicates a rise in average monthly income for agricultural households, reflecting the potential impact of these initiatives on rural livelihoods. The PMDDY is expected to be implemented before the Kharif sowing season in June.
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Mar 23 2025, 9 pmeznews.inIndia's largest private airlines are resisting a request from the Directorate General of Civil Aviation (DGCA) to share detailed ticket-wise airfare data from the past two years, citing concerns over confidentiality and competitive risks. Instead, they propose to provide a summary of ticket sales across various fare categories. The DGCA's request follows a surge in airfares, particularly during the Kumbhmela, prompting calls for increased scrutiny of pricing practices. The Federation of Indian Airlines (FIA), which includes major carriers like Air India and IndiGo, argues that disclosing granular fare data could expose sensitive information to third parties, impacting revenue management. While the government insists it does not intend to regulate airfares, there is growing pressure from parliamentarians for a monitoring mechanism to prevent excessive price hikes during peak travel periods. The dynamic pricing model, introduced after the deregulation of air travel in 1994, has led to significant fare variances, raising concerns among regulators.
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Mar 23 2025, 8 pmeznews.inIndia's heavy reliance on foreign shipping vessels, costing the nation $90 billion annually—its second-largest import expense after crude oil—has prompted urgent calls for a robust domestic fleet. The ongoing Red Sea crisis and impending US tariffs on Chinese ships underscore the need for India to enhance its maritime capabilities. The government’s initiative to launch the Bharat Container Line (BCL) aims to reduce dependence on foreign carriers, which currently dominate the market, with foreign firms like Maersk and MSC handling most container traffic. Experts argue that a home-grown fleet could foster genuine competition, lower costs, and improve logistics security, crucial for India's trade ambitions. Proposed reforms include a ₹25,000 crore maritime development fund and financial assistance for shipbuilding, alongside calls for policy changes to boost local manufacturing and address the inverted GST structure affecting shipyards. These measures could significantly enhance India's position in global maritime trade.
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Mar 23 2025, 8 pm
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