eznews.inThe Kashmir Valley Fruit Growers Cum Dealers Union has expressed alarm over reports that the Indian government is considering reducing import duties on apples, walnuts, almonds, and cranberries, fearing it could jeopardize the livelihoods of over 700,000 families reliant on the local apple industry. The union has written to Prime Minister Narendra Modi and Union Minister for Agriculture and Farmers’ Welfare, highlighting concerns that cheaper imports, particularly from the US, could flood the market and undercut local produce. Zahoor Ahmad Rather, president of the Apple Farmers’ Federation of India (AFFI) in Jammu and Kashmir, emphasized the disparity in subsidies between Indian and US farmers, which could further disadvantage local growers. The issue has also garnered attention in the Jammu and Kashmir Assembly, where legislators voiced their worries about the potential impact on thousands of families in apple-producing regions. The apple industry has already faced significant challenges due to road closures, COVID-19, and climate change. 
Published: Mar 16 2025, 6 pmeznews.inIndia is set to enhance its air travel infrastructure through an ambitious 'Hub Strategy' aimed at developing regional airport hubs to facilitate seamless connections for domestic travellers to long-haul international flights. This initiative will improve connectivity between smaller cities and major transit centres like Delhi, Mumbai, and Bengaluru, reducing layover times and streamlining immigration and security processes. Sources indicate that regional hubs, potentially located in states like Uttar Pradesh and Kerala, will provide direct links to specific international regions, such as the Middle East. The strategy also includes a slot bank system to optimize flight scheduling, minimizing waiting times for passengers. With plans to implement these changes within six months, the government aims to position Indian airports competitively alongside global hubs like Dubai and Singapore, ultimately enhancing the travel experience and attracting more international carriers.
Published: Mar 16 2025, 6 pmeznews.inNavi Mumbai International Airport is set to open in June 2025, following an inspection by Gautam Adani, chairman of the Adani Group, which is developing the facility. The inauguration has been delayed from the initially planned date of April 18 due to unfinished work on the terminal building. Passenger operations are expected to commence in July, pending a security sweep of the facilities. The airport aims to accommodate 20 million passengers and 0.8 million tonnes of cargo in its first phase. During the inspection, Adani and senior executives tested the check-in system with a dummy boarding pass. In a social media post, Adani described the airport as a "true gift to India," emphasizing its potential to enhance connectivity and spur growth. A trial flight by IndiGo in January and a review by the Directorate General of Civil Aviation in February are part of the regulatory approval process leading to the issuance of the aerodrome license.
Published: Mar 16 2025, 6 pmeznews.inThe Indian government has projected wheat production to surpass 115 million tonnes (mt) this year, with millers estimating around 110 mt, while some traders suggest a lower figure of 104-106 mt. Farmers are optimistic, anticipating yields at least 10% higher than last year, thanks to timely sowing and the adoption of climate-resilient varieties. While conditions are generally favorable across major wheat-growing states, Rajasthan faces challenges in specific districts due to shriveled grain, prompting a Central team to assess the situation. Madhya Pradesh and Rajasthan have introduced bonuses above the minimum support price (MSP), leading to higher market prices. Harvesting is underway, with 30% completed in Gujarat and 20% in Madhya Pradesh. The government aims to procure 31.27 mt of wheat in the 2025-26 season, with significant targets set for Punjab, Haryana, and Madhya Pradesh.
Published: Mar 16 2025, 6 pmeznews.inThe United States is urging India to reduce tariffs on a range of products, particularly automobiles, wines, spirits, and agricultural items, as part of ongoing negotiations for a bilateral trade agreement (BTA). However, trade experts caution that expanding the BTA's scope beyond tariffs could lead to complex issues, including intellectual property rights, e-commerce, and government procurement, areas India has largely avoided to maintain its policy autonomy. Experts like Biswajit Dhar emphasize the need for India to carefully consider which sectors may be compromised in negotiations. The US, under Secretary of Commerce Howard Lutnick, is advocating for a comprehensive free trade agreement rather than a product-specific deal. India, which currently imposes higher tariffs on US goods compared to the US's tariffs on Indian products, may propose a zero-for-zero tariff arrangement, while resisting US demands on sensitive issues like IPR and data protection to safeguard its interests, particularly for the MSME sector.
Published: Mar 16 2025, 6 pmeznews.inThe Indian government has launched a pilot project to reduce the share of broken grain in rice stock managed by the Food Corporation of India (FCI) from 25% to 10%. This initiative aims to enhance the quality of rice distributed through ration shops, minimize leakage in the public distribution system, and increase the availability of rice for ethanol production. Under the plan, 15% of broken rice will be segregated and sold directly to distilleries, with the government allocating 24 lakh tonnes of rice for ethanol until October 2025. The FCI's storage costs are significantly lower when using its own warehouses (₹6.83/quintal) compared to private godowns (up to ₹12/quintal). The new norm is expected to reduce rice stock by 15%, saving approximately 90 lakh tonnes annually, while also addressing concerns from the poultry sector regarding maize prices.
Published: Mar 16 2025, 6 pmeznews.inIn a significant shift in its crude oil import strategy, India has begun sourcing oil from countries such as Argentina, Algeria, Gabon, Libya, and Congo for the first time in six months, according to data from analytics provider Kpler. This diversification comes as U.S. sanctions on Russia have impacted its oil exports, prompting Indian refiners to seek alternatives. Notably, India has imported Argentina's Medanito crude, akin to the U.S. West Texas Intermediate, and Gabon's Etame, which serves as a substitute for heavier crudes. The Indian government aims to expand its procurement sources from 27 to 40, with a focus on tapping into the vast hydrocarbon resources of these nations. As of early 2025, Russia remains India's top supplier, but the evolving geopolitical landscape and competitive pricing from West African and Latin American suppliers are likely to influence future import dynamics.
Published: Mar 16 2025, 5 pmeznews.inIn Kochi, the latest tea auctions have seen a surge in demand, particularly for quality teas, driven by the upcoming Ramadan. Auctioneers Forbes, Ewart & Figgis reported that 97% of the 671,589 kg offered in sale 11 was sold, with CTC dust sales benefiting from the preference of the Muslim community for good quality teas during Iftar. All blenders collectively absorbed 64% of the total CTC quantity sold. The orthodox leaf market also performed robustly, achieving a 96% sales rate from 151,398 kg offered, with prices for whole leaf and brokens rising, particularly for lower-end teas. Meanwhile, the orthodox dust market was less stable, with only 14,000 kg sold to upcountry buyers and exporters. Overall, the CTC leaf market recorded a solid 91% sales rate from 41,000 kg offered, reflecting strong interest from both local and international buyers.
Published: Mar 16 2025, 3 pmeznews.inIndia and New Zealand have announced the resumption of negotiations for a long-stalled free trade agreement (FTA), following a meeting between Indian Commerce Minister Piyush Goyal and New Zealand's Trade and Investment Minister Todd McClay. The discussions, which began in 2010 under the Comprehensive Economic Cooperation Agreement (CECA), had been halted since 2015 after nine rounds of talks. The announcement comes during New Zealand Prime Minister Christopher Luxon's four-day visit to India, which began on March 16, 2025. The Indian commerce ministry emphasized that the FTA aims to achieve balanced outcomes that enhance supply chain integration and improve market access for both nations. This renewed commitment to trade discussions marks a significant step in strengthening economic ties between India and New Zealand.
Published: Mar 16 2025, 4 pmeznews.inIndia's Mines Ministry has announced a 25% increase in monetary incentives to boost critical mineral exploration in 12 districts severely affected by Left Wing Extremism (LWE). This initiative aims to encourage companies to undertake exploration activities in these challenging regions, with a refund scheme offering ₹125 for every ₹100 spent on fieldwork and equipment installation. Two projects are already underway: one focusing on lithium-niobium reserves in Chhattisgarh and another on magnesium block mapping in Jharkhand. The affected districts include areas in Chhattisgarh, Jharkhand, Odisha, West Bengal, Andhra Pradesh, Telangana, Maharashtra, Madhya Pradesh, and Kerala. The funding will be managed by the National Mineral Exploration Trust (NMET), which collects contributions from mining lease holders. The Ministry also plans to review the scheme and consider additional projects to attract private investment in these economically backward areas.
Published: Mar 16 2025, 3 pm
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