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The Commerce Department has unveiled a comprehensive three-tiered action plan to mitigate the impact of recent tariff escalations by the US, which have significantly affected Indian exporters. Following the Trump administration's imposition of reciprocal tariffs, which rose to 50% on August 27, the plan aims to provide immediate liquidity and compliance relief, particularly for vulnerable sectors and Special Economic Zones (SEZs). Key measures include enhancing market access, branding initiatives, and support for export compliance and logistics. The Export Promotion Mission will facilitate short-term assistance through trade finance options, while medium-term strategies will focus on leveraging existing Free Trade Agreements (FTAs) and improving competitiveness through GST reforms. Long-term goals include establishing a resilient and diversified export base, supported by ongoing reforms and initiatives to strengthen supply chains. The plan is currently under review by the Expenditure Finance Committee. 
Published: Aug 31 2025, 7 pmeznews.inUnion Textiles Minister Giriraj Singh has unveiled the Kapas Kisan app, a new mobile platform designed to streamline the procurement of cotton under the Minimum Support Price (MSP) scheme. Developed by the Cotton Corporation of India, the app allows farmers to self-register, book time slots, and track payments, enhancing transparency and efficiency in the procurement process. Singh emphasized that the app aims to protect cotton farmers from distress sales while reducing manual paperwork and wait times at procurement centres. Key features include digital scheduling to minimize crowding, real-time updates on quality assessments and payment processing, and a user-friendly interface available in multiple Indian languages. This initiative aligns with the government's commitment to digitize agricultural processes and support farmers, reinforcing the vision of a Digital India. The app is expected to significantly improve the selling experience for cotton growers across the country.
Published: Sep 03 2025, 10 ameznews.inThe Food and Land Use Coalition (FOLU) is set to host the 'Food Systems Summit India 2025: Marketplace for Ideas' in New Delhi on December 16 and 17, focusing on the production value chain and exploring sustainable and regenerative agriculture practices. This national platform aims to facilitate peer-to-peer learning among practitioners, researchers, and academicians in the food and land use sector across diverse agro-ecological zones in India. Participants are invited to submit poster presentations on various sub-themes, including seed management, soil and water management, pest control, and livestock management. The summit encourages applications from farmer producer organizations, research institutions, universities, and farmer groups, particularly women farmers, with a submission deadline of September 12, 2025. The inaugural summit in 2024 attracted over 250 delegates and showcased 81 studies on food systems, highlighting the importance of collaboration in addressing agricultural challenges.
Published: Sep 03 2025, 10 ameznews.inIndia's services sector experienced significant growth in August, reaching a 15-year high, driven by strong demand and rising prices, according to a recent business survey. The HSBC India Services Purchasing Managers' Index (PMI) surged to 62.9, up from 60.5 in July, although it fell short of an earlier estimate of 65.6. This growth follows a surprising 7.8% GDP increase in the previous quarter, but concerns loom over potential impacts from the Trump administration's 50% tariff on Indian imports. New business orders expanded at their fastest rate since June 2010, bolstered by a notable rise in export orders. However, intensifying price pressures could signal a shift in inflation trends, which had recently dipped to an eight-year low of 1.55%. Despite improved business confidence and a Composite PMI reaching a 17-year high of 63.2, employment growth remains modest.
Published: Sep 03 2025, 10 ameznews.inIndia's current account deficit (CAD) is projected to exceed 1.0% of GDP in FY2026 if the 50% US tariff rate remains in place until March 2026, leading to a contraction in exports, according to ICRA. The CAD was recorded at 0.6% of GDP in FY25, slightly down from 0.7% in FY24, largely due to increased net invisibles receipts. ICRA anticipates a significant rise in the CAD to $13-15 billion (-1.5% of GDP) in Q2 FY2026, driven by a widening merchandise trade deficit. The current account slipped into a deficit of $2.4 billion in Q1 FY26, compared to a surplus of $13.5 billion in Q4 FY25, influenced by seasonal trade dynamics and lower services surplus. The Indian Rupee has depreciated by 3.2% against the dollar in 2025, making it one of the worst-performing emerging market currencies.
Published: Sep 03 2025, 10 ameznews.inOn Tuesday, gold prices surged to a record high of $3,508.50 an ounce, before settling around $3,490, driven by ongoing global economic uncertainty, inflation concerns, and geopolitical tensions. Sean Hoey, Managing Director of IBV International Vaults London, noted that investors are increasingly viewing gold as a safe-haven asset amid these challenges. Meanwhile, silver has outperformed gold, reaching a 14-year high of over $40.7, with the gold/silver ratio narrowing significantly. Analysts from ING Think and BMI suggest that expectations of potential interest rate cuts by the US Federal Reserve are bolstering demand for precious metals. Despite recent easing of trade tensions, gold prices are expected to remain elevated, trading between $3,200 and $3,600 an ounce for the remainder of 2025, as investors continue to seek security in physical assets.
Published: Sep 03 2025, 8 ameznews.inThe Indian government is set to propose a 5% Goods and Services Tax (GST) on electric vehicles (EVs) during a crucial two-day GST Council meeting, aimed at overhauling the current tax structure. Chaired by Union Finance Minister Nirmala Sitharaman, the Council will discuss a shift to a simplified tax regime featuring just two rates of 5% and 18%, eliminating the existing 12% and 28% slabs. While this reform is expected to lower prices for consumers, opposition-ruled states are demanding compensation for potential revenue losses. The proposal follows Prime Minister Narendra Modi's announcement of GST reforms during his Independence Day speech, with a Group of Ministers (GoM) already endorsing the removal of higher tax slabs. The meeting will also address the GoM's preference for an 18% tax on EVs priced up to Rs 40 lakh, contrasting with the Centre's push for a lower rate to encourage EV adoption.
Published: Sep 03 2025, 8 ameznews.inTruAlt Bioenergy Limited (TBL) and Sumitomo Corporation have announced a strategic partnership aimed at advancing biofuel production in India, formalized during the Japan–India Next-Generation Economic Forum attended by Prime Ministers Narendra Modi and Shigeru Ishiba. The collaboration, anchored in the Joint Crediting Mechanism, will initiate with the establishment of four Compressed Biogas (CBG) plants in Karnataka and Maharashtra, projected to create approximately 1,700 jobs. This initiative aligns with India's goal of achieving energy sovereignty and enhancing its role as a global biofuel hub, while leveraging Japan's expertise in decarbonization technologies. A Joint Venture Company will be formed, with TBL holding a 51% stake, to drive rural industrialization and boost farmer incomes. The partnership also aims to expand into ethanol and Sustainable Aviation Fuel sectors, contributing to both nations' climate commitments and fostering sustainable economic growth.
Published: Sep 03 2025, 7 ameznews.inIndian tea exporters are grappling with order cancellations from the US following the imposition of a steep 50% tariff, which has already led to some buyers withdrawing orders. Despite this setback, exporters are optimistic about expanding shipments to emerging markets like China, where relations are improving. Last year, India exported approximately 17 million kgs of tea to the US, but only 6.26 million kgs by May this year. The Indian Tea Exporters Association has called for urgent government support for promotional activities and stricter compliance with pesticide residue standards, as nearly 98% of producers violate existing regulations. While overall tea exports from India rose nearly 10% year-on-year, the high tariffs pose a significant challenge to accessing Western markets. Exporters emphasize the need for government investment in promotional efforts to educate consumers and improve compliance with international standards.
Published: Sep 02 2025, 8 pmeznews.inIn Chinabarada village, veteran coffee farmer Venkataiah has been inspired by his neighbor's lucrative sale of black pepper, earning Rs 30,000 from a single bag. As pepper prices soar to ₹650 per kilogram, compared to coffee's ₹450, Adivasi farmers in the Eastern Ghats are increasingly recognizing the spice's potential to boost their incomes. Over the past few years, farmers have embraced pepper as an inter-crop alongside coffee, with yields of 150-200 kg per acre providing significant financial support. P Kannababu, a farmer from Pedabarada, has integrated black pepper into his coffee plot, while Satyanarayana D reports an annual income of ₹2 lakh from coffee and an additional ₹60,000 from pepper. The Andhra Pradesh Girijan Cooperative Corporation plans to secure organic certification for black pepper, which is expected to enhance market prices, with Tata Consumer Products expressing interest in procuring the spice once certified.
Published: Sep 02 2025, 8 pmeznews.inFinance Minister Nirmala Sitharaman will lead a two-day GST Council meeting starting Wednesday, focusing on the restructuring of tax levies on goods and services and compliance mechanisms. A key proposal under consideration is the reduction of the current four GST slabs (5%, 12%, 18%, and 28%) to two (5% and 18%), with a potential new rate of 40% for select goods. Essential items like toothpaste and soaps may fall under the 5% slab, while garments priced below ₹2,500 will remain at 5%, with those above this threshold moving to 18%. Additionally, the meeting will discuss lowering rates on air conditioning units and certain automobiles from 28% to 18%. Proposals also include increasing the GST on services related to casinos and sporting events to 40%, and exempting individual health and life insurance policies from the 18% tax.
Published: Sep 02 2025, 8 pm
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