eznews.inMinda Corporation Ltd, a key player in India's automotive components sector, aims to triple its exports over the next five years, according to Executive Director Aakash Minda. The company, which supplies parts to major manufacturers like Maruti, Tata, and Mahindra, currently exports about 10% of its production. Minda emphasized the importance of building a resilient supply chain through localization and digitization, particularly for electronic components, as the industry shifts towards electric vehicle mobility. The firm has committed to investing ₹1,200 crore over the next five to six years, including a recent MoU with the Maharashtra government and discussions with Uttar Pradesh officials to enhance local manufacturing. While acknowledging short-term impacts from US tariffs, Minda expressed optimism about long-term supply chain stability and the company's role in global automotive manufacturing. The automotive sector is vital to India's economy, contributing 7.1% to GDP and 49% to manufacturing GDP, according to NITI Aayog. 
Published: Jan 23 2026, 11 ameznews.inEconomists predict India's fiscal deficit for the fiscal year 2026-27 will range between 4.2% and 4.3% of GDP, with net borrowing estimated at ₹11.1 lakh crore to ₹11.5 lakh crore. Finance Minister Nirmala Sitharaman is set to present her ninth Union Budget on February 1. Barclays' Chief Economist Aastha Gudwani noted that the fiscal deficit is expected to improve from 4.4% in FY26, driven by higher nominal GDP growth and careful expenditure management. Despite a 3% decline in net tax revenue and a 28% increase in capital expenditure during the April-November 2025-26 period, experts believe the deficit will not exceed budget estimates. Reports indicate that while tax revenue has underperformed, non-tax revenues are expected to surpass projections. The government aims to boost capital expenditure, which has seen significant growth since the pandemic, although experts stress the need for increased private investment to complement public spending.
Published: Jan 23 2026, 11 ameznews.inUber has announced plans to double the fleet size of its premium mobility service, Uber Black, in 2026, responding to increasing demand for high-quality transportation in India. To facilitate this expansion, the ride-hailing giant has made a Series A investment in Carrum, a fleet management company associated with the CarDekho Group. Operating in major cities like Delhi, Mumbai, and Bengaluru, Uber Black aims to provide riders with top-rated vehicles and drivers, enhancing comfort and service quality. Prabhjeet Singh, President of Uber India and South Asia, emphasized the company's commitment to elevating service standards and delivering long-term value to riders, drivers, and fleet partners. Additionally, Uber has introduced a new Reserve feature for Uber Black in Delhi, allowing customers to book premium rides from two hours to 90 days in advance, further enhancing the reliability of their service.
Published: Jan 23 2026, 10 ameznews.inIndiGo, India's largest airline, is conducting a comprehensive review of its internal processes following significant operational disruptions last month, which resulted in a 78% drop in profits to ₹549.1 crore for the December quarter, largely due to increased expenses from the disruptions. CEO Pieter Elbers announced the review during a media call, emphasizing the need for stability and continuity in operations. The Directorate General of Civil Aviation (DGCA) has reduced IndiGo's winter schedule by 10%, prompting other airlines to request the vacated slots. Between December 3 and 5, IndiGo cancelled over 2,500 flights, affecting more than 300,000 passengers, leading to fines totaling ₹22.20 crore. The DGCA attributed the disruptions to mismanagement of flight crew and inadequate operational buffers. Elbers assured that the airline is committed to addressing these issues and has stabilized operations, with sufficient pilots to comply with new flight duty regulations.
Published: Jan 23 2026, 10 ameznews.inThe Indian government has called on airlines to submit requests for domestic flight slots vacated by IndiGo, following significant operational disruptions in December that led to the cancellation of over 2,500 flights and delays affecting more than 300,000 passengers. The Directorate General of Civil Aviation (DGCA) reduced IndiGo's winter schedule by 10%, prompting the redistribution of these slots. A committee met on January 13 to discuss the process, and airlines must now apply for the vacated slots while maintaining their existing routes. However, industry insiders suggest that the slots available are largely undesirable, with one executive noting that they consist mainly of "red-eye flights." Meanwhile, IndiGo faces scrutiny after being fined ₹22.20 crore for the December disruptions, attributed to mismanagement and inadequate operational buffers. The airline reported a 78% drop in profit for the December quarter, impacted by rising costs and regulatory changes.
Published: Jan 23 2026, 9 ameznews.inThe Ministry of Skill Development and Entrepreneurship, in partnership with the World Economic Forum (WEF), is set to launch the Skills Accelerator in India, a platform designed to tackle critical skills gaps in the workforce. This initiative aims to enhance the Technical and Vocational Education and Training (TVET) ecosystem by aligning skilling efforts with the evolving needs of industry and the global economy. Minister Jayant Chaudhary emphasized that the formalization of the India Skills Accelerator represents a significant milestone in fostering a competitive workforce. He highlighted the importance of collaboration among government, industry, and educational institutions to address both current and future skill shortages, promote outcome-based skill financing, and encourage lifelong learning. This agreement marks a pivotal step towards strengthening multilateral cooperation in skill development and vocational training across India.
Published: Jan 23 2026, 5 ameznews.inIndia and the European Union (EU) are intensifying efforts to finalize their Free Trade Agreement (FTA) negotiations ahead of a visit by EU leaders on January 25-27, 2026. This comes as the EU has suspended import tariff preferences under the Generalized System of Preferences (GSP) for approximately 87% of Indian exports, effective January 1, 2026. The suspension affects a wide range of products, including textiles, chemicals, and machinery, forcing Indian exporters to face full Most Favored Nation (MFN) tariffs. Experts warn that this will significantly impact India's trade competitiveness, particularly against countries like Bangladesh and Vietnam, which still enjoy lower-duty access. While some sectors, such as agriculture and handicrafts, retain GSP benefits, they account for less than 13% of India's exports to the EU. The urgency for a swift FTA deal is underscored by the ongoing challenges posed by US tariffs and the need to bolster bilateral trade, which reached $140 billion in 2024.
Published: Jan 22 2026, 10 pmeznews.inChennai Metro Asset Management Limited (CMAML), a joint venture between Chennai Metro Rail Limited and TIDCO, is set to prepare a Detailed Feasibility Report for a High-Altitude Cable Propelled (Ropeway) Transport System in Udhagamandalam. This initiative aims to enhance transit infrastructure in high-altitude areas while promoting sustainable mobility solutions in ecologically sensitive and tourism-focused regions. The proposed ropeway system is expected to provide safe, efficient, and environmentally friendly transport options, thereby boosting tourism and improving accessibility. CMAML has engaged Infrastructure Development Corporation Limited, Bengaluru, and Outdoor Engineers AG from Switzerland as consultants for this project, with a contract value of ₹96,63,011. The development is anticipated to significantly contribute to the region's transportation landscape and tourism growth.
Published: Jan 22 2026, 10 pmeznews.inAgriculture Minister Shivraj Singh Chauhan announced on Thursday in Bengaluru that the Ministry has approved the procurement of 1.013 lakh tonnes of chana (bengal gram) at a minimum support price (MSP) for the 2026-27 rabi marketing season in Karnataka, valued at ₹595.37 crore. The MSP for chana has been set at ₹5,875. Chauhan urged the state government to ensure full procurement, criticizing the Congress-led administration for failing to meet procurement targets for tur (red gram) and totapuri mangoes in previous seasons. He highlighted that Karnataka procured only 2.16 lakh tonnes of the approved 3 lakh tonnes of tur and 1.37 lakh tonnes of mangoes out of 2.5 lakh tonnes. Additionally, he addressed misinformation regarding the new VB G RAM G scheme, which aims to enhance rural employment by guaranteeing 125 days of work linked to productive asset creation. Meanwhile, the area under Bengal gram cultivation has risen by 5% this rabi season.
Published: Jan 22 2026, 9 pmeznews.inFinance Minister Nirmala Sitharaman is set to present the Budget for 2026-27 on February 1, amid calls from exporters for measures to enhance shipments in light of rising US tariffs. The Federation of Indian Export Organisations (FIEO) has urged the government to address the issue of inverted customs duty structures, where import duties on raw materials exceed those on finished goods, negatively impacting sectors like textiles and electronics. For example, higher duties on synthetic yarns compared to finished garments hinder the textile value chain. The Apparel Export Promotion Council (AEPC) has suggested reducing GST rates on textile machinery and introducing a technology upgradation scheme for micro units. Additionally, the Engineering Export Promotion Council (EEPC) India has advocated for lower income tax rates to align with private companies and faster GST refunds to enhance liquidity and competitiveness, alongside a proposal for 100% depreciation on rooftop solar investments for manufacturing MSMEs.
Published: Jan 22 2026, 9 pm
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