eznews.in
A recent report by Cushman & Wakefield highlights significant shortcomings in the Indian government's skill and talent initiatives for Micro, Small and Medium Enterprises (MSMEs), with 71% of small firms reporting no benefits from government-run training programs. The survey found that while 39% of MSMEs acknowledged receiving some advantages, 61% felt excluded from these initiatives. Despite MSMEs employing 80% of the manufacturing workforce and contributing 40% of the sector's output, productivity remains low, with workers generating only 14% of what their counterparts in larger firms do. The government has allocated ₹2,500 crore for sector-specific industrial parks to enhance operational efficiency and attract foreign investment. However, challenges such as high logistics costs, inadequate warehousing, and skill gaps persist, threatening the long-term competitiveness of the sector. Experts emphasize the need for improved infrastructure and productivity measures to convert policy efforts into tangible outcomes. 
Published: Jun 29 2025, 12 pmeznews.inKanishka Sethia, Director and CEO of Western Carriers, has announced plans to significantly boost the company's domestic logistics business over the next three years, aiming to mitigate the impact of ongoing global trade uncertainties that have affected its Exim segment. The Kolkata-based logistics firm is set to establish its largest multi-modal logistics park in Gujarat, strategically located near Halvad to enhance connectivity to key west coast ports like Mundra and Pipavav. Following a 12% decline in Exim volumes last fiscal year, which previously accounted for 75% of turnover, Western Carriers increased its domestic business by 32%, raising its contribution to 30%. Sethia projects that by 2026, the domestic segment will account for 40% of turnover, while Exim will drop to 60%. The company is also scouting locations for a logistics hub in Kolkata and plans a capital expenditure of ₹100 crore this fiscal year to enhance its infrastructure.
Published: Jun 29 2025, 8 pmeznews.inIn the rapidly evolving e-commerce landscape, effective reverse logistics has become essential for enhancing customer experience and operational efficiency. Once viewed as a challenge, managing product returns is now pivotal, particularly as India's e-commerce sector is projected to reach $300 billion by 2030, leading to a surge in returns—over a third of fashion and footwear purchases are returned, primarily due to sizing issues. A seamless returns process fosters customer loyalty, with many consumers considering return policies before purchasing. Third-party logistics (3PL) providers play a crucial role in streamlining these processes, offering services that enhance efficiency and reduce costs. Additionally, reverse logistics supports sustainability by promoting recycling and proper disposal of products. As businesses invest in robust reverse logistics strategies, they not only improve customer satisfaction but also unlock potential cost savings and revenue opportunities, making it a vital component of modern e-commerce operations.
Published: Jun 29 2025, 8 pmeznews.inIndian Railways is deliberating a proposal to eliminate clerkage charges on the cancellation of waitlisted tickets, a move that has garnered significant attention from passengers and public representatives. Currently, these charges range from ₹30 to ₹60, depending on the travel class, and are deducted even for cancellations made through the IRCTC online portal. The Railways has generated substantial revenue from ticket cancellations, earning over ₹6,000 crore between FY20 and FY23. Complaints regarding these charges have surged, with many questioning their fairness, particularly when no confirmed seat is allocated. A Railway Ministry official confirmed that the matter has been escalated for review, and discussions are anticipated in the near future. Meanwhile, IRCTC reiterated that these charges are dictated by Railway policy, and any changes would require a formal directive from the Railway Board.
Published: Jun 29 2025, 8 pmeznews.inThe Hong Kong International Convention for the safe and environmentally sound recycling of ships (HKC) came into force on June 26, marking a significant milestone for the global ship recycling industry. Developed over 16 years with input from various international organizations, the HKC aims to tackle hazardous substances found on decommissioned vessels and improve working conditions in recycling yards. In India, where 112 of the 131 ship recycling yards have received compliance statements, the convention reflects ongoing voluntary improvements, including mandatory worker training and medical care. However, challenges persist, particularly in financing upgrades, as banks have yet to provide dedicated credit lines. Despite these advancements, the NGO Shipbreaking Platform cautions that the HKC does not eliminate the dangerous practice of beaching, prevalent in countries like India and Bangladesh, which poses severe risks to workers and threatens coastal ecosystems with pollution.
Published: Jun 29 2025, 8 pmeznews.inIndia's business aviation sector is experiencing significant growth, driven by an increase in high net worth individuals (HNIs), the global expansion of Indian corporations, and supportive reforms such as aircraft leasing through Gift City in Gujarat. According to a report by Asian Sky Group, the number of business jets in India rose by 12% in 2024, making it the highest in the Asia Pacific region, with a total of 168 jets. This positions India as the third-largest business jet fleet in the region, following China and Australia. Major manufacturers like Gulfstream and Bombardier are optimistic about the market, citing rising interest in their long-range aircraft. However, challenges remain, including a preference for pre-owned jets due to lower costs and lengthy wait times for new models. The Business Aircraft Operators Association is advocating for reforms to enhance the owner-operator model and promote fractional ownership, which could further stimulate market demand.
Published: Jun 29 2025, 6 pmeznews.inBoeing's recent production improvements are fostering stability within the aerospace supply chain, according to Fitch Ratings. The company's increase in aircraft deliveries is enhancing confidence among suppliers and airlines, facilitating better fleet planning and financing, and creating a more predictable operational environment. Following the resolution of the 2024 machinist strike and management changes, Boeing has ramped up 737 MAX production to the mid-30s per month, with expectations to reach 38 by the third quarter of 2025. The clearance of legacy inventory has also bolstered cash generation and operational efficiency. Additionally, a $24 billion equity raise and a pending $10.55 billion sale of Jeppesen are expected to provide Boeing with increased financial flexibility. Meanwhile, a joint event at the International Maritime Organization emphasized the need for fair treatment and respect for the human rights of seafarers, highlighting the importance of their well-being to global trade.
Published: Jun 29 2025, 7 pmeznews.inIn a significant move towards sustainability, the Deendayal Port Authority (DPA) in Gujarat has ordered India's first electric tugboat as part of the Green Tug Transition Programme (GTTP), initiated by the Union Ministry of Ports, Shipping and Waterways. The contract, awarded to Netincon Marketing Pvt Ltd, involves a 60-tonne bollard pull capacity tugboat to be chartered for 15 years at a daily rate of ₹6.3 lakh. The GTTP aims to invest around ₹1,000 crore in green tugs, with a phased launch starting October 2024, requiring major ports to procure at least two green tugs each. By 2040, the government plans to transition all major port tugs to eco-friendly variants, aligning with the Maritime India Vision 2030, which targets a 30% reduction in carbon emissions per tonne of cargo. Currently, Kandla port sources 82% of its energy from renewables, while other ports are at varying levels of renewable energy usage.
Published: Jun 29 2025, 7 pmeznews.inThe Indian government is actively working to enhance the appeal of Special Economic Zones (SEZs) to attract investments in high-growth sectors such as green hydrogen, air cargo, maintenance, repair, and overhaul (MRO), and space exploration. A source indicated that the government aims to address idle capacity and available land by relaxing SEZ regulations tailored to the specific needs of these sectors. Recent reforms have already been implemented for semiconductor and electronics manufacturing, allowing for more flexible Net Foreign Exchange calculations and domestic market supply conditions. Proposed changes for green hydrogen include permitting SEZ units to sell power externally and modifying land contiguity requirements. The Commerce Department is also seeking to amend the SEZ Act to make the policy more investor-friendly, particularly following the expiration of direct tax benefits and the introduction of minimum alternate tax. These adjustments are seen as crucial for fostering significant investment proposals.
Published: Jun 29 2025, 4 pmeznews.inHigh and rising public debt levels are heightening the financial system's vulnerability to interest rate fluctuations, limiting governments' capacity to respond to crises, according to a report from the Bank for International Settlements (BIS). Outgoing BIS head Agustín Carstens warned that ongoing trade tensions and geopolitical strife are exposing significant weaknesses in the global economy, which is at a "pivotal moment" marked by increased uncertainty. The report, released ahead of a critical U.S. trade tariff deadline, highlights concerns over rising protectionism and its detrimental effects on economic growth. Additionally, the dollar has fallen 10% this year, marking its largest first-half decline since the 1970s, although BIS economic adviser Hyun Song Shin noted that it is premature to conclude a major shift away from U.S. assets. The BIS also reported a record profit, emphasizing the importance of maintaining high creditworthiness amid these challenges.
Published: Jun 29 2025, 3 pmeznews.inThe Southwest monsoon has covered the entire country by June 29, 2025, nine days ahead of the normal schedule and marking the earliest full coverage in five years, according to the Indian Meteorological Department (IMD). This year, the monsoon's early arrival is expected to accelerate Kharif sowing, which has already seen a 10% increase in acreage compared to last year. The IMD noted that the monsoon has only fully covered India in June six times over the past 25 years, with the earliest instance occurring on June 16, 2013. Current rainfall across the country stands at 170.3 mm, 8% above the long-term average, although some regions, including parts of Andhra Pradesh and Bihar, remain deficient. As farmers prepare for the crucial July sowing period, the IMD forecasts a total monsoon rainfall of 108% of normal for the season.
Published: Jun 29 2025, 2 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact