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Mumbai International Airport Ltd (MIAL) faced a setback as the Airports Economic Regulatory Authority (AERA) rejected its request for a staggering 675% increase in user fees for the period from 2024 to 2029. Instead, AERA proposed a modest 18% rise, citing ongoing Supreme Court litigation and the need to rationalize planned capital expenditures, including an airside tunnel and a corporate office building. Currently, MIAL charges ₹187 as a user development fee (UDF) for international passengers, with no fee for domestic travelers. The Adani Group-operated airport aims to invest ₹17,439 crore in improvements, including the redevelopment of Terminal T1 and expansion of Terminal T2, to enhance its capacity to handle 65 million passengers and one million tonnes of cargo annually. However, projected passenger traffic is expected to decline from 52 million in FY24 to 48 million by FY29 due to the terminal's closure. AERA also noted an over-recovery of ₹934 crore by MIAL and rejected its plea for a true-up of ₹13,665 crore from previous tariff orders. 
Published: Mar 11 2025, 7 pmeznews.inThe Rubber Board of India has launched an initiative to enhance the global profile of Indian natural rubber and boost domestic production by certifying rubber products under the Indian Sustainable Natural Rubber (iSNR) framework for compliance with the European Union Deforestation Regulation (EUDR). This process involves supply chain mapping, traceability systems, and geo-mapping of plantations. To facilitate this, the Board will conduct sensitisation programmes in Kottayam, Thiruvananthapuram, and Mangaluru on March 24, 25, and 27, respectively, inviting participants to register by March 19. The geo-mapping, starting this week in ten districts of Kerala, will document land ownership and boundaries of rubber holdings, with data stored in a centralised system managed by the Rubber Board. This initiative aims to ensure that Indian rubber meets EU standards, thereby facilitating exports to the region.
Published: Mar 12 2025, 3 pmeznews.inBengaluru's auto unions have proposed a fare increase amid rising public transportation costs, with the minimum fare suggested to rise from ₹30 to ₹40 and per-kilometer charges from ₹15 to ₹20. This proposal follows recent fare hikes in the city's metro and BMTC bus services, which saw metro fares revised on February 9 and bus fares increased by 15% in January. Tanveer Pasha, President of the Auto Union Federation, emphasized the need for this adjustment due to escalating fuel prices, which have surged from ₹47-50 two years ago to nearly ₹90, alongside rising operational costs. Fifteen unions attended a meeting supporting the fare hike, pending approval from Bengaluru's Deputy Commissioner. Additionally, Pasha called for regulation of ride-hailing services like Ola and Uber, arguing they operate outside government fare structures, creating an uneven playing field in the auto sector. A final decision on the fare revision is expected soon.
Published: Mar 12 2025, 3 pmeznews.inAroma Agrotech, a Haryana-based basmati rice exporter operating under the AAT Aroma brand, is set to diversify its operations starting next fiscal year, according to Director Mayank Garg. The company plans to expand into food manufacturing, including wheat flour, semolina, and refined flour, as well as textiles and renewable energy, specifically solar photovoltaic cells and blankets. Garg highlighted the potential for growth in the textile sector, particularly targeting the Middle East and parts of Europe, as China shifts focus to tech-related textiles. Currently exporting to over 44 countries, including the US, UK, and Saudi Arabia, Aroma Agrotech has seen a 20% decline in basmati rice export value this fiscal year, with prices dropping from $1,100 to $800 per tonne. The company emphasizes its commitment to sustainability, operating with near-zero carbon emissions through bio-effluent treatment and solar energy initiatives.
Published: Mar 12 2025, 3 pmeznews.inThe White House has intensified its pressure on India to reduce import tariffs on US goods, with Press Secretary Karoline Leavitt claiming that India imposes a 150% tariff on American alcohol, including Kentucky Bourbon, and a 100% tariff on agricultural products. However, this assertion has been challenged, as India's average agricultural tariffs are significantly lower at 39%, and Bourbon now faces a 100% tariff following recent budget cuts. Leavitt's comments come ahead of President Trump's planned announcement of reciprocal tariffs on countries with high tariffs. India is currently negotiating a bilateral trade agreement with the US, aiming for a mutually beneficial pact that could mitigate Trump's tariff plans. Despite the US imposing higher tariffs on Indian goods, Leavitt's remarks appear to be part of a broader strategy to portray India as a significant tariff charger, overshadowing recent reductions and misrepresenting trade statistics.
Published: Mar 12 2025, 1 pmeznews.inIndia's thermal coal imports have seen a significant decline, dropping 18.5% year-on-year and 6.4% month-on-month to 11.36 million tonnes in February 2025, marking the sixth consecutive month of annual decreases. This reduction is attributed to a rise in domestic coal production, which increased by 1.71% year-on-year to 98.26 million tonnes during the same month. Despite a seasonal record in coal-fired generation due to robust economic activity, the availability of domestic supplies has limited the need for imports. The Coal Ministry reported an 8.4% year-on-year decrease in imports from April to December 2024, resulting in foreign exchange savings of approximately $5.43 billion. Looking ahead, Kpler anticipates a rise in thermal coal imports to nearly 14 million tonnes in March 2025, driven by increased demand during the peak summer months and a government mandate to boost generation from imported coal.
Published: Mar 12 2025, 11 ameznews.inThe ongoing debate over Regulatory Data Protection (RDP) for agrochemical products in India remains unresolved, despite its critical importance for fostering innovation and ensuring farmers access safe crop protection products. RDP safeguards the extensive data submitted by first-time registrants, which is essential for proving the safety and efficacy of new agrochemical molecules. The high costs of developing these products—averaging $300-350 million over 11 years—are a significant barrier to entry, with only a fraction of molecules making it to market. Critics argue that RDP could raise prices for farmers, but proponents assert it would enhance market competition and encourage local production. A government committee has recommended a three to five-year RDP period, which aligns with practices in other countries that have successfully fostered innovation. To remain competitive globally, India must adopt RDP to support the introduction of new agrochemical technologies and bolster its agricultural sector.
Published: Mar 12 2025, 9 ameznews.inThe Finance Ministry has announced the issuance of Zero Coupon Bonds (ZCB) by Power Finance Corporation, allowing the company to raise up to ₹10,000 crore. These bonds, sold at a discount of ₹49,546 for a face value of ₹1 lakh, will mature in 121 months, providing investors with a lump sum payout of ₹1 lakh at maturity. Designed for long-term investors, ZCBs offer fixed returns and are considered less risky than equities or variable-rate bonds, making them suitable for conservative investors or those looking to diversify their portfolios. However, they carry interest rate and duration risks, as their value can decrease if sold before maturity, particularly in a rising interest rate environment. Tax implications vary based on the holding period, with gains held for less than 12 months subject to short-term capital gains tax, while those held longer face a 12.5% long-term capital gains tax.
Published: Mar 12 2025, 10 ameznews.inIn a significant ruling, the Gauhati High Court has determined that fruit pulp or fruit juice-based drinks, including carbonated varieties, will be subject to a Goods and Services Tax (GST) of 12% instead of the previously imposed 28%. This decision, made on March 4, 2025, provides relief to companies like X’SS Beverage, which produces a range of carbonated fruit drinks. Justice Soumitra Saikia emphasized that the presence of soluble solids and fruit content distinguishes these beverages from water or carbonated water, thus justifying the lower tax rate. The court's classification was based on the dominant nature of the product, particularly the significant fruit juice content, which it deemed essential to the beverage's character. Harpreet Singh from Deloitte noted that the ruling reflects a careful application of classification rules, considering factors such as ingredient proportions and marketing practices.
Published: Mar 12 2025, 9 ameznews.inThe Jawaharlal Nehru Port Authority (JNPA) has signed a ₹285 crore Concession Agreement with a consortium of Trident Agrocom Exports and Man Infraconstruction for a groundbreaking agricultural processing and storage facility at the port. Spanning 27 acres, this state-of-the-art facility will handle approximately 1.2 million tonnes of agricultural commodities annually, offering integrated solutions such as cold storage, pre-cooling, frozen storage, and dry warehouses. Designed to meet food safety and trade compliance standards, it aims to significantly reduce post-harvest losses and enhance India's agricultural exports. The project, developed under a Public-Private Partnership model, will leverage advanced technology for optimal quality and efficiency, while also serving as a local distribution hub for both domestic and imported agricultural goods. JNPA Chairperson Unmesh Sharad Wagh emphasized the facility's potential to strengthen agro-trade and create new business opportunities, marking a significant step in port-led industrial development.
Published: Mar 12 2025, 9 ameznews.inIndia's retail inflation is projected to decline to approximately 4% in February 2025, down from 4.3% in January, marking the lowest rate in five months. The official data will be released on Wednesday, and if the inflation rate falls below 4%, it will be the first time since August that it dips below the median of the targeted inflation range. This potential decrease is significant for the Monetary Policy Committee, which recently reduced the policy rate by 25 basis points for the first time in five years. The ongoing decline in food prices is a key factor contributing to this trend, and the upcoming data will be closely monitored as it may influence future monetary policy decisions.
Published: Mar 12 2025, 8 am
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