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The Indian Bakers Federation (IBF) has expressed gratitude to Prime Minister Narendra Modi following significant reductions in Goods and Services Tax (GST) rates on bakery products, which they previously deemed "disproportionately high." In a statement, IBF leaders S Anburajan and P M Sankaran credited Modi's government for addressing long-standing concerns within the baking community. The recent GST Council meeting resulted in tax cuts from 18% to 5% on items such as pastries, cakes, and biscuits, with some products now exempt from tax altogether. IBF general secretary Gaurav Dhingra acknowledged the contributions of founding members and the current leadership for their persistent advocacy. Established in 2017, IBF aims to provide a unified voice for bakers, addressing the burdensome taxation on perishable goods that hindered industry growth. The reforms are expected to foster a more supportive tax environment, enhancing affordability and sustainability in the bakery sector. 
Published: Sep 12 2025, 8 pmeznews.inWestern Carriers (India) Ltd., a Kolkata-based logistics company, is set to expand its operations across India, capitalizing on the growing demand in the logistics sector. In its annual report for 2024-25, the company highlighted plans to enhance customer relationships by diversifying services and entering new markets, with a focus on integrating into export supply chains. The Indian logistics market is projected to grow from $317 billion in 2024 to $484 billion by 2029, driven by government initiatives like the PM Gati Shakti National Master Plan and the establishment of Dedicated Freight Corridors. Chairman Rajendra Sethia emphasized that the B2B logistics segment will thrive due to increased manufacturing capabilities and the rise of MSMEs. The company aims to improve efficiency and safety through upgraded equipment and strategic partnerships, positioning itself as a key player in India's economic growth.
Published: Sep 12 2025, 9 pmeznews.inFairfax India Holdings Corporation announced on Friday that its subsidiary, FIH Mauritius Investments Ltd, has sold a 51% stake in Saurashtra Freight Pvt Ltd to Japan's Kamigumi Co. Ltd for ₹662 crore. Saurashtra Freight, based in Mumbai, operates one of the largest container freight stations at Mundra Port in Gujarat. The deal is expected to finalize in the fourth quarter of 2025, after which Fairfax India will no longer hold shares in the company. Prem Watsa, Founder of Fairfax India, expressed gratitude to Saurashtra's Founder Raghav Agarwalla for their successful eight-year partnership, highlighting the company's impressive financial performance and market share. Agarwalla reflected on the transaction as a significant milestone, crediting Fairfax India for its support in transforming Saurashtra into a business now aligned with the esteemed Kamigumi Group.
Published: Sep 12 2025, 9 pmeznews.inIndia's Defence Procurement Board (DPB) is set to review a significant proposal from the Indian Air Force (IAF) for the acquisition of 114 Rafale fighter jets, which, if approved, would mark the largest defence procurement in the country's history, valued at over ₹2 lakh crore. The proposal, currently under examination by various departments within the Ministry of Defence, aims to enhance India's depleting fighter jet fleet and support the domestic aerospace industry, with over 60% of the jets' components expected to be sourced locally. French aerospace firm Dassault Aviation will manufacture the jets in collaboration with Indian firms and establish a maintenance, repair, and overhaul facility in Hyderabad. This acquisition comes amid rising regional security concerns and follows the successful deployment of Rafales in Operation Sindoor. The move is seen as a strategic necessity and a vital step towards self-reliance in defence manufacturing, complementing India's existing fleet of 36 Rafales and future plans for indigenous fighter aircraft.
Published: Sep 12 2025, 9 pmeznews.inAs the festive season approaches, Indian shrimp exporters are experiencing a temporary reprieve, receiving substantial orders to meet rising demand. This comes after a challenging period marked by a 25% tariff for six weeks and a subsequent 50% tariff imposed by the US, which has severely impacted the shrimp value chain. Ravi Kumar Yellanki, President of the All India Shrimp Hatcheries Association, reported an estimated loss of ₹150 crore due to halted purchases of shrimp seed stock, with around 5 billion seeds discarded due to their short shelf life. While exporters have secured firm orders until mid-November, concerns linger about future sales. Indukuri Mohan Raju noted that American traders are absorbing tariff costs, but prices have still dropped by ₹80-100 per kg. Farmers are urging the government to implement a minimum support price and subsidized electricity to mitigate ongoing challenges in the industry.
Published: Sep 12 2025, 8 pmeznews.inTractor sales in August 2025 surged nearly 25% year-on-year, reaching 73,199 units compared to 54,733 in August 2024, driven by robust rural demand and a favorable monsoon season, according to the Tractor and Mechanisation Association. This growth reflects sustained momentum in rural areas, bolstered by active kharif sowing and lower interest rates, as noted by Crisil Ratings' Poonam Upadhyay. The India Meteorological Department's forecast of surplus rainfall in September poses some risks to kharif harvests, but overall, the monsoon and government support for financing schemes are expected to enhance tractor demand during the upcoming festival season. Industry leaders emphasize a structural shift towards farm mechanisation, with farmers increasingly adopting technology for improved productivity. Additionally, a report by Kotak Institutional Equities highlights that a GST reset will further benefit the domestic tractor industry, supporting its growth amid strong farm economics and a favorable outlook.
Published: Sep 12 2025, 7 pmeznews.inAirlines and government agencies, including the Airport Authority of India (AAI) and the Central Industrial Security Force, are preparing for the commercial launch of Navi Mumbai airport, set to be inaugurated on September 30. Flight operations are expected to commence a few weeks later, following a security sweep. Approximately 150 IndiGo ground staff have applied for internal positions at the new airport, with preference given to them over external candidates. IndiGo and Akasa Air have signed memorandums of understanding with Navi Mumbai International Airport Limited (NMIA) regarding slots and office spaces. The Central Industrial Security Force will deploy 500 personnel, while 30 air traffic controllers have been trained, with eight already stationed at the airport. Initially, the airport will operate for 12 hours daily, handling up to 20 million passengers annually, although early operations may see only 8-10 air traffic movements per hour. Operational readiness trials are currently underway to ensure a smooth launch.
Published: Sep 12 2025, 7 pmeznews.inThe paper trade and paper products industry is a vital sector in India, employing over half a million people directly and supporting nearly two million livelihoods indirectly. At the recent 64th AGM of the Federation of Paper Traders Associations of India in Chennai, outgoing president Mehul J. Mehta emphasized the need for a uniform 5% Goods and Services Tax (GST) on paper and paperboard products, highlighting the current disparity where certain paper types are taxed at 18%. This inverted duty structure could adversely affect micro, small, and medium enterprises (MSMEs). Incoming president Rajesh Jain noted that the industry is a leader in sustainability, with 75% of paper produced from recycling, and called for campaigns to dispel myths about deforestation. He explained that most raw materials come from sustainable sources, including farmer-grown plantations and agricultural residues.
Published: Sep 12 2025, 7 pmeznews.inIndian exporters, particularly in the engineering sector, are grappling with a significant 50% tariff on goods, excluding certain exemptions like pharmaceuticals and smartphones. This includes a 25% penalty imposed on countries purchasing Russian oil and defense goods. Following a recent meeting with Reserve Bank of India Governor Sanjay Malhotra, exporters have urged the reinstatement of the interest equalisation scheme (IES) to alleviate rising financing costs, especially for small and micro enterprises. Pankaj Chadha, Chairman of the Engineering Export Promotion Council (EEPC), highlighted that the US market, accounting for approximately $20 billion in annual exports, is particularly vulnerable due to these tariffs. Additionally, MSMEs face challenges in securing collateral-free loans, exacerbated by stringent credit rating systems. The EEPC has called for government support, suggesting scrips to offset the 30% duty disparity with competing nations, which could help mitigate the financial strain on exporters.
Published: Sep 12 2025, 6 pmeznews.inRajasthan has experienced a significant 70% surplus in rainfall during the current monsoon season, yet this has not translated into higher crop yields, with overall production expected to decline despite acreage remaining stable at nearly 158 lakh hectares. Farmers are already feeling the impact, as feed prices have surged from ₹6 to ₹8-9 per kg due to disrupted supply chains. The erratic weather, characterized by excessive rainfall followed by a prolonged dry spell, has complicated sowing for the upcoming Rabi season. While the state government reports acreage figures that suggest stability, farmer leaders argue these figures overlook areas severely affected by heavy rains. Notably, while bajra acreage remained nearly unchanged, guar saw a 10% drop, and soyabean fell by 8.9%. Despite these challenges, farmers remain hopeful that Rabi crops will help offset Kharif losses once conditions improve.
Published: Sep 12 2025, 6 pm
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