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India's economic growth forecast for 2025 has been revised down to 6.3%, according to a United Nations report released on Thursday. Despite this adjustment from the previous estimate of 7.1% for 2024, India remains one of the fastest-growing large economies, buoyed by strong private consumption and public investment. The report highlights a precarious global economic landscape, with heightened trade tensions and rising tariffs threatening production costs and supply chains. While India's inflation is expected to decrease from 4.9% in 2024 to 4.3% in 2025, the Reserve Bank of India has begun easing its policy rate. The global GDP growth forecast has also been downgraded to 2.4% for 2025, reflecting broader economic challenges affecting both developed and developing nations. The report underscores the need for multilateral cooperation to address these issues and support vulnerable economies facing declining growth and rising debt. 
Published: May 16 2025, 8 ameznews.inUnion Minister of Commerce and Industry Piyush Goyal has indicated a potential extension for the implementation of the Quality Control Order (QCO) for household and commercial electrical appliances, originally set for September 2024. This decision follows concerns raised by industry stakeholders during a meeting on May 15, where manufacturers highlighted the need for the QCO to first apply to finished goods before components, citing complexities in global supply chains. Key issues included ambiguity regarding the coverage of DC and battery-operated appliances, a lack of product manuals and testing facilities, and insufficient time for obtaining Bureau of Indian Standards (BIS) certification. Goyal acknowledged these concerns and urged the industry to propose the establishment of more modern testing facilities across public and state labs. The Department for Promotion of Industry and Internal Trade (DPIIT) is working to enhance the testing and certification ecosystem, particularly for micro, small, and medium enterprises (MSMEs).
Published: May 16 2025, 6 pmeznews.inVO Chidambaranar (VOC) Port has designated 501 acres for green hydrogen manufacturing and storage, as part of a broader initiative to establish a green shipping corridor with Deendayal Port in Kandla, Gujarat. This corridor will facilitate the operation of methanol-powered ships, managed by the State-owned Shipping Corporation of India. In February, Deendayal Port Authority signed a memorandum of understanding with Bapu’s Shipping for bio-methanol bunkering services and joined the Methanol Institute to enhance collaboration with industry stakeholders. VOC Port is set to attract ₹41,860 crore in investments from companies like ACME Green Hydrogen and Sembcorp, while a pilot green hydrogen bunkering facility, backed by a ₹35 crore grant, is expected to be operational by January 2026. However, concerns remain regarding the availability of suitable ships and fuels, with industry experts urging government support to ensure the project's viability amidst rising costs.
Published: May 16 2025, 6 pmeznews.inAir India has urged Indian officials to block IndiGo's leasing agreement with Turkish Airlines, citing concerns over national security and the impact on India's aviation sector amid rising tensions with Turkey over its support for Pakistan. Following public backlash against Turkey's stance in the India-Pakistan conflict, the Indian government revoked the security clearance of Turkish ground handling firm Celebi, with junior aviation minister Murlidhar Mohol stating the decision was made to protect national interests. IndiGo's leasing arrangement, which has been in place since 2023, has reportedly increased seat capacity to Turkey, benefiting Turkish tourism and providing IndiGo with a codeshare partnership that enhances its international reach. Air India claims that the deal disadvantages Indian carriers, as it allows Turkey to gain financially while Indian airlines struggle with delivery delays from Boeing and Airbus. IndiGo has applied for an extension of its leasing agreement, which is set to expire on May 31.
Published: May 16 2025, 6 pmeznews.inThe Indian Coast Guard (ICG) successfully rescued six crew members from the cargo vessel MSV Salamath, which sank off the coast of Mangaluru in the early hours of May 14. The ICG received a distress alert from the MT Epic Susui, reporting a small boat adrift with survivors approximately 52 nautical miles from shore. The ICG Ship Vikram, on routine patrol, was diverted to the scene and located the crew members, who had abandoned the sinking vessel and taken refuge in a dinghy. Preliminary reports indicate that the MSV Salamath began flooding around 5:30 am on May 14, shortly after departing Old Mangalore Port for Kadmat Island in Lakshadweep, though the cause of the flooding remains unclear. After receiving first aid, the crew members were safely transported to New Mangalore Port on May 15, where local authorities plan to investigate the incident further.
Published: May 16 2025, 6 pmeznews.inWheat procurement in Madhya Pradesh has reached 7.78 million tonnes (mt), marking a 69% increase from last year's 4.59 mt, against a revised target of 8 mt. In contrast, Punjab and Haryana reported lower procurement volumes, attributed to increased private sector buying and farmers holding onto grain in anticipation of higher prices amid regional uncertainties. Punjab's final procurement stood at 11.93 mt, down 3.4% from last year, while Haryana recorded 7.08 mt, slightly below last year's figures. Notably, wheat arrivals in major producing states, excluding Punjab, rose by 26% to 19.18 mt. Overall, all-India procurement reached 29.46 mt, a 14.4% increase from 25.76 mt last year, driven by gains in Madhya Pradesh and Rajasthan. The Agriculture Ministry forecasts a record wheat production of 115.43 mt for the 2024-25 crop year, with procurement continuing until June 30 in several states.
Published: May 16 2025, 6 pmeznews.inIPL Biologicals has unveiled its NXG Range, a new portfolio of six soluble biological products aimed at enhancing farm productivity and promoting sustainability. Launched during the company's annual meeting in Agra, the NXG Range includes Subtilin, Viridex, Sporidex, BT-dex, BEE Boost, and 360, marking a first in India's biological agricultural input sector with their soluble powder format. Designed for compatibility with micro irrigation systems, these products focus on improving soil health, nutrient availability, and microbial efficacy across diverse agro-climatic zones. Harsh Vardhan Bhagchandka, President of IPL Biologicals, emphasized the growing demand for high-performance agricultural inputs as the global agri-biologicals market is projected to reach $43 billion by 2035. The new formulations promise operational benefits, including enhanced shelf stability and reduced clogging risks, while utilizing high colony-forming unit microbial strains to accelerate biological activity in the field.
Published: May 16 2025, 5 pmeznews.inDhanuka Agritech Ltd has reported a robust financial performance for the fiscal year 2024-25, with revenues reaching ₹2,035.15 crore, a 15.73% increase from ₹1,758.54 crore in 2023-24. The company's profit after tax (PAT) also saw a significant rise, climbing 24.20% to ₹296.96 crore from ₹239.09 crore the previous year. Chairman Mahendra Kumar Dhanuka attributed this success to the resilience of their business model, the dedication of their team, and the trust of the farming community. He highlighted the positive impact of a favourable rabi season and strong crop acreage on demand during the fourth quarter. Looking ahead, Dhanuka expressed confidence in sustaining this momentum, emphasizing a commitment to innovation and expanding product offerings to enhance value for stakeholders. The company aims to continue promoting sustainable agricultural practices as it moves into the next fiscal year.
Published: May 16 2025, 5 pmeznews.inIn a significant development for global trade, the US and China have agreed to reduce high import tariffs, with US duties on Chinese goods set to decrease from 145% to 30%, while China will lower its tariffs on US imports from 125% to 10%. This move, announced during a bilateral meeting in Geneva on May 10, 2025, is expected to enhance global trade and supply chains. However, despite the reductions, tariffs on Chinese goods entering the US will still exceed 50%, presenting an opportunity for Indian exporters to strengthen their competitiveness in the global market. An official highlighted that India is focused on improving its manufacturing capabilities, suggesting that the current tariff landscape could benefit Indian businesses. Nonetheless, some trade experts caution that the reduction in US-China tariffs may diminish the tariff advantage previously enjoyed by Indian exporters.
Published: May 16 2025, 5 pmeznews.inThe Ministry of Heavy Industries (MHI) has received a formal proposal from Karnataka for the allocation of electric buses (e-Buses) under the Prime Minister E-DRIVE initiative, aimed at enhancing urban public transport. Karnataka Transport Minister Ramalinga Reddy submitted the request, highlighting the need for improved transport systems in major cities. Minister HD Kumaraswamy assured the state of full support from the Centre, confirming that the allocation process is already in motion and will occur in a phased manner. Under the PM E-DRIVE scheme, 14,000 e-Buses are set to be distributed across nine cities, with discussions also addressing necessary infrastructure such as charging stations and maintenance systems. Kumaraswamy emphasized the initiative's goal of creating a cleaner and smarter transport future, with a total budget of ₹10,900 crore allocated for the project over two years, from April 2024 to March 2026.
Published: May 16 2025, 4 pmeznews.inVijay Paul Sharma, Chairman of the Commission for Agricultural Costs and Prices (CACP), emphasized the need for better incentives for farmers to enhance the profitability of millets during the Millet Stakeholders conference organized by Nutrihub. He pointed out that the current profitability of millets lags behind competing crops, despite significant increases in the minimum support price (MSP) over the past seven years, which have improved market prices and farmer returns. Sharma advocated for a three-pronged approach to sustain the millet mission, focusing on technology, institutional strengthening, and farmer incentives. He highlighted the importance of state-level interventions, particularly in procurement operations, to boost market prices. Additionally, he noted the potential of technology to address supply challenges and improve the cultivation and consumption of millets, which are often perceived as difficult to cook and understand nutritionally.
Published: May 16 2025, 2 pm
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