The Inland Waterways Authority of India (IWAI) under the Ministry of Ports, Shipping and Waterways reached a significant milestone in cargo movement on National Waterways. For the fiscal year 2024-25, IWAI has successfully achieved record-breaking 145.5 million tonnes of cargo movement, marking an all-time high in the IWT sector.
In FY-25, traffic movement registered a growth of 9.34% year-on-year from FY-24. Five commodities i.e. coal, iron ore, iron ore fines, sand and fly ash constituted over 68% of total cargo moved on NWs during the year.
Jalvahak – Cargo Promotion Scheme: Launched in December 2024, the Jalvahak scheme promotes modal shift of cargo from other modes to IWT by incentivising cargo owners and movers to the extent of 35%of the total actual operating expenditure incurred on waterways journey.To give further push to the scheme, scheduled cargo services were made operational on NW-1, NW-2, and NW-16
This scheme is expected to divert 800 million tonne-kilometers of cargo to the IWT mode, accounting for nearly 17% of the current 4,700 million tonne-kilometers of cargo on National Waterways.
Morgan Stanley lowered its growth forecast for India by 40 basis points to 6.1% for 2025-26 citing changes in trade and tariff policies. The US-headquartered financial services company also said it now expects a slower recovery in 2026-27, at 6.3%, compared to its earlier outlook of steady growth of 6.5%.
Morgan Stanley expects both food and non-food inflation to remain subdued, aided by lower oil prices and easing food costs. Inflation is projected to average 4% in FY26, with the trend likely to remain consistently below the 4% mark in the coming months.
Former finance secretary and chief of the country’s audit regulator Ajay Bhushan Prasad Pandey has been appointed vice-president at the Asian Infrastructure Investment Bank (AIIB), according to the multilateral lender. He will handle investment solutions and oversee three departments: the Sectors, Themes, and Finance Solutions Department.
The AIIB had approved a total of $50.4 billion in financing as of March 2024. India is the largest borrower, with the AIIB having approved 48 projects in the country involving $10.45 billion. The multilateral lender started operations in 2016 with 57 founding members and by 2020, it expanded to have 103 members.
Government e Marketplace (GeM), India's largest e-marketplace for public procurement, sets yet another milestone in services delivery in the FY 24-25. Apart from facilitating hiring of 1 million manpower resources in FY 24-25, GeM has successfully facilitated insurance of more than 1.3 crore individuals covering Health, Life and Personal Accident Insurance policies.
The Insurance Services category was introduced on GeM in January 2022 to bring greater efficiency, transparency and cost-effectiveness in procuring insurance policies. A key advantage of GeM’s insurance services is that it facilitates direct transactions between government buyers and insurance providers without intermediaries.
Beyond Life and Health insurance, the platform has expanded its insurance offerings to include a comprehensive range of insurance services such as Asset Insurance, Transit and Marine Insurance, Liability Insurance, Livestock Insurance, Motor Insurance, Crop Insurance and Cyber Insurance.
India’s total exports (Merchandise and Services combined) for March 2025* is estimated at US$ 73.61 Billion, registering a positive growth of 2.65 percent vis-à-vis March 2024. Total imports (Merchandise and Services combined) for March 2025* is estimated at US$ 77.23 Billion, registering a positive growth of 4.90 percent vis-à-vis March 2024.
India’s total exports during FY 2024-25 (April-March)* is estimated at US$ 820.93 Billion registering a positive growth of 5.50 percent. Total imports during FY 2024-25 (April-March)* is estimated at US$ 915.19 Billion registering a growth of 6.85 percent.
NITI Aayog launched a report on Hand and Power tools sectors – ‘Unlocking $25+ Billion Export Potential - India’s Hand & Power Tools Sector’. The report suggests that the global trade market for power and hand tools, currently valued at approximately $ 100 billion, is projected to grow significantly, reaching around $ 190 billion by 2035.
Within this market, hand tools account for $ 34 billion and are expected to expand to $ 60 billion by 2035, while power tools, including tool accessories, represent $ 63 billion and are anticipated to surge to $ 134 billion, with electrical tools comprising the majority.
The report observes that the tools industry serves as a foundational pillar of the global manufacturing ecosystem. The Hand and Power Tools sector will help enhance our domestic manufacturing and expand our global footprint by $ 25 billion in the next 10 years.
Ministry of Labour & Employment and Swiggy signed a Memorandum of Understanding (MoU) in New Delhi, marking a significant step toward strengthening employment linkages in the gig and logistics sector through the National Career Service (NCS) portal.
Under this MoU, Swiggy will integrate its gig opportunities—including delivery, logistics, and support roles—onto the NCS portal. This real-time integration will enhance visibility of gig jobs for NCS users, who will benefit from timely and verified work opportunities across urban and semi-urban areas.
The 6th edition of India- Uzbekistan Joint Military Exercise DUSTLIK-VI commenced today, at Foreign Training Node, Aundh (Pune). The Exercise is scheduled to be conducted from 16 to 28 Apr 2025. Indian contingent comprising of 60 personnel is being represented by a Battalion of JAT Regiment and IAF.
Joint Exercise DUSTLIK -VI is an annual training event conducted alternatively in India and Uzbekistan. Last edition was conducted in Termez District, Uzbekistan in April 2024. The theme of the exercise will be based on the theme of Joint Multi Domain Sub Conventional operations in Semi-Urban Scenario.