eznews.in
Wheat sowing in India has seen a modest increase of 1.4% to 320 lakh hectares (lh) as of January 10, 2025, compared to 318.33 lh for the entire previous season. Despite a weekly coverage of only 26,000 hectares from January 4-10, the potential for further expansion appears limited. The agriculture ministry has set a production target of 115 million tonnes for the current rabi season, slightly above last year's record of 113.29 million tonnes. Meanwhile, pulses acreage remains stable at 139.81 lh, with chana (gram) sowing up 1% to 96.65 lh, while masur (lentil) has decreased by 1.9% to 17.43 lh. Oilseed area has declined by 4.9% to 96.82 lh, attributed to farmers shifting to wheat due to weather concerns. Overall, total rabi crop area has increased to 632.27 lh, with winter paddy acreage also rising by 2.6%. 
Published: Jan 15 2025, 1 pmeznews.inBoeing CEO Kelly Ortberg is on his inaugural overseas trip to India, where he is engaging with key stakeholders, including Union Finance Minister Nirmala Sitharaman, during a three-day visit. Ortberg's discussions focus on strengthening Boeing's partnership with India, which currently operates over 280 Boeing aircraft and has over 600 orders pending, including models like the 737 Max and 787. Salil Gupte, president of Boeing India, emphasized the company's commitment to India's Atma Nirbhar Bharat initiative. Boeing aims to expand its defense operations and increase local sourcing, currently valued at $1.25 billion annually, alongside a $200 million investment in Bengaluru. This visit comes as Boeing seeks to recover from a significant downturn, with 348 aircraft deliveries last year, compared to Airbus's 766. Additionally, Boeing faces challenges from escalating trade tensions with China, where it remains a major player in the aviation sector.
Published: Jan 15 2025, 7 pmeznews.inIn a significant move to enhance the operational landscape for food business operators (FBOs), the Food Safety and Standards Authority of India (FSSAI) announced that amendments to food labelling regulations will take effect annually on July 1. This decision, aimed at fostering a predictable regulatory environment, will provide FBOs with a clearer framework for compliance, thereby addressing challenges such as the costs associated with operational changes and the use of pre-printed packaging materials. The FSSAI emphasized that this initiative not only promotes transparency for consumers, enabling informed choices about food safety and quality, but also supports environmental sustainability by reducing waste and minimizing the carbon footprint linked to frequent packaging updates. The authority's commitment to public health is further reinforced through this consumer-centric approach, which aims to strengthen trust in the food industry.
Published: Jan 15 2025, 7 pmeznews.inReliance Industrial Infrastructure Ltd reported a 24% decline in its consolidated net profit for the third quarter of the fiscal year 2024-2025, dropping to ₹2.74 crore from ₹3.62 crore a year earlier. The company attributed this decrease to a 9.4% fall in revenue, which fell to ₹18.60 crore from ₹20.52 crore in the same period last year, primarily due to lower utilisation of its infrastructure assets. In a statement, Reliance Industrial noted that it continues to provide essential infrastructure support services, including the transportation of petroleum products and raw water through pipelines, mainly for Reliance Industries Limited. However, the company indicated that it currently has no plans for expansion in the near future. The results reflect ongoing challenges in the infrastructure sector amid fluctuating demand.
Published: Jan 15 2025, 7 pmeznews.inA report titled "Making India the Global Hub for Turmeric," released by the Indian Council for Research on International Economic Relations (ICRIER) and Amway India, outlines a strategic roadmap to enhance India's turmeric exports, targeting $1 billion by 2030. Launched a day after the establishment of the National Turmeric Board in Nizamabad, Telangana, the report highlights significant challenges, including fluctuating prices and inadequate post-harvest infrastructure, despite India being the largest global producer and exporter. It emphasizes the need for value addition, promotion of high-curcumin varieties, and securing Geographical Indication (GI) tags to boost market share. The report also advocates for subsidies for organic certification and streamlined regulatory processes. With turmeric cultivated on nearly 297,460 hectares and an expected production of over 1 million metric tonnes, the report underscores the potential for growth through investments in Farmer Producer Organizations and sustainable practices to enhance India's global standing in the turmeric market.
Published: Jan 15 2025, 7 pmeznews.inAs India grapples with economic slowdown and declining consumption, industry leaders are set to meet with Reserve Bank of India (RBI) Governor Sanjay Malhotra on January 22, ahead of the monetary policy review scheduled for February 5-7. This meeting, the first since Malhotra took office in December 2024, is expected to see India Inc advocating for a cut in policy rates, which currently stand at 6.5% following a reduction in February 2023. However, economists predict that the RBI will prioritize inflation control and liquidity management over rate cuts, especially in light of recent geopolitical pressures and a weakening rupee. Standard Chartered Bank has revised its forecast for repo rate cuts, now expecting a cumulative reduction of 50 basis points in April and June, rather than in the earlier anticipated timeframe. The bank also foresees a widening liquidity deficit, suggesting that the RBI may focus on enhancing liquidity instead of adjusting rates in February.
Published: Jan 15 2025, 7 pmeznews.inAs India prepares for the Union Budget 2025-26, the US-India Tax Forum has put forth a comprehensive set of recommendations aimed at enhancing the country's economic competitiveness and attracting foreign investment. The Forum, which includes around 200 member companies, advocates for simplifying the Tax Deduction at Source (TDS) structure, aligning tax rates for foreign bank branches with domestic ones, and introducing a concessional 10% tax rate on dividends for Foreign Portfolio Investors. Key proposals also include extending tax incentives for sectors like renewable energy and manufacturing, promoting GIFT City as a global financial hub, and overhauling indirect taxation to a simplified three-tier customs tariff system. The Forum emphasizes the need for reforms to bolster investor confidence and support equitable access to healthcare, positioning India as a leader in sustainable growth amid global economic challenges.
Published: Jan 15 2025, 5 pmeznews.inPrime Minister Narendra Modi dedicated three indigenously manufactured naval combatants—the destroyer INS Surat, frigate INS Nilgiri, and submarine INS Vaghsheer—at the Naval Dockyard in Mumbai on January 15, 2025. During the ceremony, Modi highlighted the Indian Navy's significant expansion under the Make in India initiative, noting that over 5,000 items will no longer be imported, with 60 large ships currently under construction valued at approximately ₹1.5 lakh crore. He emphasized the economic benefits of shipbuilding, predicting a ₹3 lakh crore economic circulation and a six-fold employment multiplier effect, particularly benefiting the MSME sector. Defence Minister Rajnath Singh added that over 75% of the content in INS Surat and INS Nilgiri is domestically developed. Modi also pointed to India's growing seafaring workforce, which has doubled since 2014, and expressed confidence in ongoing reforms to enhance the defence sector's capabilities.
Published: Jan 15 2025, 4 pmeznews.inVelocity, a direct-to-consumer logistics company, has launched Shipfast, a new service offering 4-hour, same-day, and next-day shipping options, reflecting the rising influence of quick commerce on consumer habits in India. This initiative follows Delhivery's introduction of dark stores aimed at enabling D2C brands to achieve local deliveries within two to four hours. A McKinsey study indicates that nearly half of online shoppers abandon their carts due to unclear shipping times, underscoring the need for faster delivery solutions. Velocity's CEO, Abhiroop Medhekar, noted plans for potential acquisitions to enhance their offerings. As D2C brands increasingly seek to control the customer experience and reduce reliance on high-commission platforms, Myntra has also entered the quick-commerce arena with its 30-minute delivery service, M-Now, in Bengaluru. To combat delivery challenges, Shipfast employs advanced logistics workflows and AI technology to streamline operations and improve customer satisfaction.
Published: Jan 15 2025, 4 pmeznews.inTarun Das, former Director General of the Confederation of Indian Industry (CII), has been awarded the Honorary Citizen Award by Singapore for his significant contributions to Singapore-India relations over the past three decades. The accolade, presented by Singapore’s President Tharman Shanmugaratnam during a ceremony in New Delhi, is the highest recognition given to non-Singaporeans for their outstanding contributions to the nation’s development across various sectors. Das expressed his deep honor at receiving the award, reflecting on his journey with Singapore that began 31 years ago and highlighting the evolution of the "Singapore-India Fever." His advocacy for Singapore in India includes leading a delegation of Indian industrialists in 1993 and spearheading initiatives like the annual CII Core Group visits and the India-Singapore Strategic Dialogue, which have strengthened economic and cultural ties between the two nations, according to Singapore’s Foreign Ministry.
Published: Jan 15 2025, 3 pmeznews.inThe Coal Ministry of India has implemented contingency plans to ensure the uninterrupted transportation of coal to thermal power plants (TPPs) in northern India during the ongoing Maha Kumbh Mela in Prayagraj, which is expected to attract over 400 million attendees until February 26. The ministry anticipates potential disruptions in coal delivery to some up-country power plants due to the massive influx of visitors. To mitigate these impacts, the Inter-Ministerial Coordination (IMC) has been actively monitoring the situation and has developed a detailed contingency strategy. In December 2024, coal dispatch to the power sector increased by over 5% year-on-year, reaching 76.04 million tonnes, while overall dispatch for April-December 2024 rose by 4.32% to 618.33 million tonnes. As of January 13, 2024, coal stocks at domestic plants stood at 45.33 million tonnes, sufficient to meet daily consumption needs.
Published: Jan 15 2025, 3 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact