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India's wholesale inflation is projected to have risen to 0.80% year-on-year in June 2025, up from 0.39% in May, driven by increases in food, fuel, and core inflation, according to a report by Union Bank of India. The core Wholesale Price Index (WPI), which excludes food and fuel, surged from 0.86% in May to 1.63% in June. While food inflation eased to 0.60% in June from 1.72% in May, fuel inflation remained in deflationary territory but saw a slower contraction at -1.82%. The report cautioned about potential risks to inflation, including volatile global commodity prices, tariff wars, geopolitical tensions, and uncertain monsoon progress, which could impact agricultural supply chains. Despite a moderate inflation outlook for June, the report emphasizes that external factors may pose significant challenges in the coming months. 
Published: Jul 11 2025, 8 ameznews.inRapido, a Bangalore-based ride-hailing startup, is rapidly gaining traction in India, outpacing Uber and Ola in user acquisition and downloads. With its innovative motorcycle taxi service and a subscription-based pricing model, Rapido has achieved profitability for the first time, positioning itself for a potential public listing. The company charges drivers a minimal daily fee instead of taking commissions, allowing them to keep their fares, which has attracted a large pool of drivers and users in a market where public transport is often limited. Last year, Rapido's app was downloaded 33 million times, compared to Uber's 21 million and Ola's 19 million. Despite facing regulatory challenges, including a suspension of services in Karnataka due to legal issues, Rapido is focused on long-term growth and expanding its reach beyond 250 cities. Co-founders emphasize their understanding of local consumer needs as a key factor in their success.
Published: Jul 11 2025, 8 ameznews.inThe Vizhinjam International Sea Port in Thiruvananthapuram has marked a significant milestone, with Kerala Ports Minister V N Vasavan announcing that nearly 400 container ships have docked at the facility since its first vessel, the San Fernando, arrived on July 11, 2024. The port, which commenced commercial operations in December 2024 and was inaugurated by Prime Minister Narendra Modi on May 2, 2025, has handled 8.3 lakh containers, including 23 ultra-large vessels. Vasavan highlighted the port's operational efficiency, showcasing India's capability to utilize advanced technologies like automation and AI. Additionally, the port has trained local women as the country's first female automated crane operators and has positively impacted over 100,000 people through various social responsibility initiatives. As the port celebrates its first anniversary, plans for a second construction phase, estimated to cost over ₹10,000 crore, are set to begin, further establishing Vizhinjam as a key maritime hub.
Published: Jul 11 2025, 11 ameznews.inUS President Donald Trump has indicated that countries yet to receive tariff letters may face blanket tariffs of either 15% or 20%, effective August 1. This could include India, which has not yet received a letter, potentially subjecting its products to tariffs lower than the previously announced 26% reciprocal tariffs. Trump emphasized that not all countries require individual letters, stating, "We’re just going to say all of the remaining countries are going to pay." The deadline for implementing these tariffs was extended from July 9 to August 1, following limited trade agreements with the UK and Vietnam. Indian negotiators recently returned from Washington without finalizing an interim trade deal, hindered by US demands in agriculture and dairy. As trade talks are set to resume, the Indian team is expected to return to Washington next week to continue negotiations. Canada was the latest country to receive a tariff letter, facing a 35% tariff from August 1.
Published: Jul 11 2025, 11 ameznews.inSeattle recently hosted a vibrant event celebrating Indian mangoes, aimed at promoting their availability in the U.S. market. Organized by the Consulate General of India in Seattle and the Agricultural and Processed Food Products Export Development Authority (APEDA), the "Flavors of Indian Mangoes" event showcased five distinct varieties: Dussehri, Chausa, Langra, Mallika, and Totapuri. Washington State Attorney General Nick Brown, Senator Manka Dhingra, and Seattle Port Commissioner Sam Cho were among the dignitaries who enjoyed the tasting experience, praising the mangoes' unique qualities. The event highlighted a 19% increase in Indian mango exports to the U.S. in 2024, underscoring the fruit's significance in trade. Additionally, a related Indian Food Festival in Redmond featured further mango tastings and discussions between Indian exporters and U.S. retail representatives, aiming to enhance the presence of premium Indian mangoes in the Pacific Northwest market.
Published: Jul 11 2025, 9 ameznews.inCorn prices are expected to remain bearish throughout 2025, driven by strong global production, particularly in the US, Brazil, and India. Research agency BMI reported a significant shift in market sentiment, with money managers holding a net short position of 182,282 contracts as of June 24, a stark contrast to a net long position earlier in the year. The Food and Agriculture Organisation has raised its production forecast, predicting a record high output for 2025, while the USDA anticipates a US harvest of 400 million tonnes. Despite a projected increase in global corn production to 1.3 billion tonnes, tight stocks among major exporters could lead to price volatility. BMI has revised its price forecast for corn to $4.40 per bushel, down from $4.60, as the market faces downward pressure. However, emerging supply concerns in regions like Europe may provide some price support amid ongoing US-China trade discussions.
Published: Jul 11 2025, 9 ameznews.inThe Indian government's efforts to divest stakes in Life Insurance Corporation (LIC) and IDBI Bank are progressing, according to a senior official. While no specific timeline has been set for LIC, the strategic sale of IDBI Bank is expected to conclude by October. Currently, the government holds a 96.5% stake in LIC, with plans to sell 6.5% in tranches to meet the 10% public shareholding requirement by May 2027. The government previously raised approximately ₹21,000 crore by divesting 3.5% through an IPO in May 2022. In the case of IDBI Bank, the government and LIC aim to sell a combined 60.72% stake, with the government divesting 30.48% and LIC 30.24%. The due diligence process is ongoing, and financial bids will soon be invited, following multiple expressions of interest received earlier this year. Shares of both LIC and IDBI Bank have seen slight declines in recent trading.
Published: Jul 10 2025, 8 pmeznews.inIndia's tea production surged by approximately 40% in May 2025, reaching 130.60 million kgs, bolstered by favourable weather conditions across key growing regions. According to the Tea Board, North India saw a 32% increase, producing 104.37 million kgs, while South India experienced an impressive 88% rise to 26.23 million kgs. Cumulatively, tea output from January to May 2025 reached 336.22 million kgs, a 26% increase compared to the same period last year. Notably, Assam's production rose by 24% to 62.59 million kgs, and West Bengal's output increased by 47% to 38.27 million kgs. Tamil Nadu, the largest producer in the South, reported a 90% increase. However, June's production is expected to decline due to adverse weather conditions, including heavy rainfall. The production of CTC teas dominated at 112.29 million kgs, followed by orthodox and green teas.
Published: Jul 10 2025, 7 pmeznews.inThe Indian government has allocated ₹29,576 crore under the Production Linked Incentive (PLI) scheme for the automotive sector, creating over 44,987 jobs across the value chain, as revealed in a recent review by the Ministry of Heavy Industries (MHI). This expenditure represents 70% of the total ₹42,500 crore investment planned for the scheme's five-year duration. Incentives disbursed so far amount to ₹322 crore, with a revised budget estimate for FY26 set at ₹336 crore, significantly lower than the previous year's ₹3,150 crore. Major companies, including Tata Motors, Mahindra & Mahindra, and Ola Electric, have received approvals for incentives. Minister HD Kumaraswamy emphasized the government's commitment to enhancing industry support and fostering a competitive auto sector. Launched in September 2021, the PLI-Auto scheme aims to boost manufacturing of advanced automotive technology, particularly focusing on zero-emission vehicles, and is structured into two sub-schemes for original equipment manufacturers and components.
Published: Jul 10 2025, 7 pmeznews.inOn June 3, 2025, President Donald Trump escalated tariffs on steel and aluminium imports to 50%, prompting India to revise its retaliatory duty proposal on American goods to $3.82 billion, up from $1.91 billion when tariffs were at 25%. New Delhi contends that the U.S. tariffs, framed as national security measures, violate World Trade Organization (WTO) rules and threaten $7.6 billion of Indian exports. While India has signalled its intent to impose retaliatory tariffs, officials indicate that no immediate action will be taken as negotiations for a bilateral trade agreement (BTA) are ongoing. India previously challenged U.S. tariffs at the WTO in 2018 and imposed retaliatory measures in 2019, but rolled back some tariffs in 2023 following concessions from the Biden administration. The current situation reflects ongoing tensions in U.S.-India trade relations amid hopes for resolution through diplomatic talks.
Published: Jul 10 2025, 7 pm
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