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India must achieve an average nominal GDP growth rate of 10% annually to realize the government's vision of Viksit Bharat by 2047, according to Rajiv Memani, President of the Confederation of Indian Industry (CII). In an interview with PTI, Memani emphasized that the upcoming interim trade pact with the US is expected to eliminate uncertainty and expand market access for Indian firms, particularly in labor-intensive sectors. This agreement will also facilitate technology transfers and foster joint ventures. Despite geopolitical challenges, CII forecasts India's economy will grow between 6.4% and 6.7% this financial year, driven by robust domestic demand. Memani highlighted the stability of India's macroeconomic environment, noting the strength of its institutions, including capital markets and banks. The Reserve Bank of India has maintained its GDP growth projection for the current fiscal year at 6.5%, reflecting confidence in the nation's economic resilience amid global uncertainties. 
Published: Jul 06 2025, 1 pmeznews.inThe Delhi High Court has dismissed a plea from ground handling firm Celebi, which contested the revocation of its security clearance by the Bureau of Civil Aviation Security (BCAS) due to national security concerns. Celebi claimed its license was cancelled without prior notice or adequate reasoning. However, the court ruled that national security considerations can supersede the principles of natural justice, emphasizing that the security of the nation is paramount. The BCAS revoked Celebi's clearance on May 15, shortly after Turkey expressed support for Pakistan and criticized India's military actions. The court highlighted the critical nature of ground handling services, which provide extensive access to sensitive airport operations, necessitating rigorous security vetting, especially for foreign-affiliated operators. This ruling may set a precedent for similar cases, including a pending appeal from another Celebi subsidiary.
Published: Jul 07 2025, 8 pmeznews.inIn the past 15 years, the Chennai Port Authority (ChPA) has generated nearly ₹500 crore from Hyundai Motor India Ltd (HMIL), a key client for car exports. This revenue, derived from vessel and cargo-related charges, underscores a long-standing partnership that began with a strategic MoU 25 years ago. HMIL has exported over 3.7 million vehicles to more than 150 countries, currently serving over 60 markets with nine tailored models, including the CRETA and the newly launched CRETA Electric. The company exported 163,386 units in FY 2024-2025, with Saudi Arabia, South Africa, Mexico, Chile, and Peru as its top markets. S. Kirupanandasamy, Traffic Manager at ChPA, noted that Hyundai benefits from a dedicated facility at the port, capable of holding over 4,000 vehicles. Looking ahead, HMIL's Managing Director, Unsoo Kim, projects a 7-8% growth in export volumes for FY26, driven by strong demand in emerging markets.
Published: Jul 08 2025, 7 ameznews.inJSW Infrastructure has secured a significant contract from the Syama Prasad Mookerjee Port Authority to reconstruct Berth 8 and mechanise Berths 7 and 8 at the Netaji Subhas Dock in Kolkata. This ambitious project, which is expected to enhance the port's container handling capacity, comes with a 30-year concession period and an estimated capital expenditure of ₹740 crore. The construction is set to take two years and will be executed under a design, build, finance, operate, and transfer (DBFOT) model as part of a public-private partnership (PPP). The initiative reflects ongoing efforts to modernise port infrastructure and improve operational efficiency in one of India's key maritime hubs.
Published: Jul 07 2025, 8 pmeznews.inIn a recent report presented to Tamil Nadu Chief Minister MK Stalin, the State Planning Commission (SPC) outlined a transformative approach to the restoration of post-mining landscapes, which have historically been deemed unproductive. The study identifies five key restoration objectives: enhancing biodiversity, ensuring water security, promoting agroforestry, creating recreational spaces, and facilitating solar power generation. By leveraging geospatial information, the report highlights the potential of 5,052 abandoned or underutilized mines across the state for ecological revitalization. It emphasizes the need for thoughtful planning and collaboration among stakeholders to achieve regional sustainability goals. The report also critiques past restoration efforts, which often involved costly and ineffective methods, and advocates for the use of native species and innovative land-use strategies to create ecological hotspots and support local communities. This initiative marks a significant shift towards viewing post-mining sites as valuable assets for ecological and economic development.
Published: Jul 07 2025, 8 pmeznews.inMalpractices in India's steel import sector have come to light, with traders circumventing Bureau of Indian Standards (BIS) quality norms to import substandard steel from countries like China and Vietnam. The Steel Ministry's increased scrutiny revealed that smaller importers were falsifying documents to apply for "new grades" and evade mandatory quality checks. In response, the Ministry has halted the clearance of suspect shipments, including some from Japan, and is tightening regulations. A recent report indicated that 1,136 import applications were for steel grades not recognized by BIS, often involving minor alterations to chemical compositions. The Ministry has mandated that all non-BIS-compliant steel imports receive prior approval, particularly targeting Chinese-origin products entering through Vietnam. While the government has granted a 15-20 day relaxation period for select shipments, concerns remain that limiting imports could lead to domestic monopolies manipulating prices.
Published: Jul 07 2025, 8 pmeznews.inAs of July 4, 2023, India's paddy coverage has increased to 69.3 lakh hectares (lh), up from 64.52 lh last year, reflecting a 7.4% rise. Overall, kharif sowing has reached 40% of the normal 1,097 lh area, with 437.43 lh planted across various crops, marking an 11.1% increase from 393.77 lh in 2022. Notably, pulses acreage surged by 35.2% to 42.57 lh, with urad and moong showing gains, although arhar fell by 11.1%. Oilseeds have also seen improvement, rising to 108.21 lh from 94.9 lh, while nutri/coarse cereals increased by 21% to 77.18 lh. The monsoon has been favourable, with rainfall 31% above normal, aiding sowing efforts. Experts highlight a growing interest in sustainable agricultural practices as farmers focus on soil health and crop resilience amid positive monsoon conditions.
Published: Jul 07 2025, 8 pmeznews.inThe Food Safety and Standards Authority of India (FSSAI) has approved six new manufacturing units for recycled polyethylene terephthalate (r-PET), boosting the total authorized capacity to 150,000 metric tonnes per annum. This move, announced by the Association of PET Recyclers (APR) Bharat, aims to meet the growing demand for food-contact packaging from beverage manufacturers, who are required to use 30% recycled content in their PET bottles. Prior to this, only five out of 20 r-PET units had received FSSAI certification. The APR Bharat had previously warned that delays in approvals could jeopardize the financial viability of many companies in the sector. With an estimated investment of ₹7,500-8,000 crore, the industry has established a total capacity of around 400,000 metric tonnes for r-PET production. The FSSAI has committed to expediting further authorizations to support the industry’s growth.
Published: Jul 07 2025, 7 pmeznews.inRamco Systems, based in Chennai, is strategically targeting the burgeoning eVTOL (electric vertical take-off and landing) and Unmanned Aerial Vehicle (UAV) markets, according to CEO Sam Jacob. The company's Aviation ERP system supports clients throughout the eVTOL lifecycle, encompassing manufacturing, supply chain, maintenance, and flight operations. eVTOLs, designed for urban air taxi services, are still in their infancy, with fewer than 1,000 currently in operation globally. However, significant orders are emerging, particularly in West Asia and the US, where demand could reach between 5,000 and 10,000 units. Ramco, which began focusing on aviation in the early 2000s, sees eVTOL as a key growth area, with the market projected to expand from ₹76 crore in 2024 to ₹1,734 crore by 2035. The UAV market is also set for substantial growth, expected to rise from ₹3,720 crore in 2024 to ₹15,721 crore by 2030.
Published: Jul 07 2025, 7 pmeznews.inIndia is seeking preferential market access for labour-intensive products in ongoing trade negotiations with the United States, aiming to secure a competitive advantage over rivals. Senior officials from the Trump administration are making last-minute efforts to finalize trade deals by the July 9 deadline, with indications that countries negotiating in good faith, including India and the EU, may receive extensions. New Delhi has proposed concessions across various sectors but insists on protecting its agricultural and dairy interests. US Treasury Secretary Scott Bessent noted that numerous new proposals have emerged, suggesting a busy period ahead. While the deadline for imposing higher tariffs on countries without agreements is likely to be postponed to August 1, the US has already issued tariff letters to 12 nations, which are not necessarily ultimatums but invitations to negotiate further.
Published: Jul 07 2025, 7 pmeznews.inUnion Minister Shivraj Singh Chouhan announced the Indian government's ambitious plan to boost maize production from 42.28 million tonnes to 86 million tonnes by 2047, emphasizing the need for crop diversification in Punjab and Haryana. Speaking at the annual maize summit organized by FICCI, Chouhan highlighted that this increase must be achieved without the use of genetically modified (GM) seeds, a stance he has consistently maintained. He called for the development of high-yielding seed varieties with enhanced starch content, urging scientists to focus on this area. While the average maize productivity in India stands at 3.5 tonnes per hectare, states like West Bengal and Bihar exceed this average. Chouhan also stressed the importance of fair pricing for farmers, noting that the current minimum support price for maize is set at ₹2,400 per quintal for the upcoming kharif crop, despite recent market prices falling below this threshold.
Published: Jul 07 2025, 7 pm
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