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Rajiv Memani, the newly appointed President of the Confederation of Indian Industry (CII), addressed a press conference in New Delhi on July 3, 2025, outlining his vision for India's economic growth. He projected that the Indian economy could expand between 6.4% and 6.7% in FY26, despite unprecedented global challenges. Memani emphasized the need for further economic reforms, advancements in artificial intelligence, and a focus on high-end manufacturing to capitalize on growth opportunities. He highlighted four positive macroeconomic indicators, including rising private sector investments and declining inflation, while acknowledging risks from geopolitical uncertainties. Under the CII's theme "Accelerating Competitiveness," he proposed transforming the National Manufacturing Mission into an action-oriented body to boost manufacturing's GDP share to 25% by 2047. Memani called for a structured approach to enhance industry engagement and streamline processes across various government sectors. 
Published: Jul 03 2025, 2 pmeznews.inIndia's major reservoirs have seen a significant increase in water storage, now exceeding 40% of their total capacity, thanks to a 12% surplus in rainfall attributed to the south-west monsoon. The Central Water Commission reports that the reservoirs are filled to nearly 43% of their 182.444 billion cubic metres capacity, with five reservoirs at full capacity and key southern reservoirs, including Krishna Raja Sagara and Mettur, nearly full. This year's water levels are 89 percentage points higher than last year and 75 percentage points above the 10-year average. The southern region, particularly Tamil Nadu, is faring well, with storage levels at 91%, enhancing prospects for the kharif crop. Other regions also show improvement, with northern reservoirs at 37.27% and eastern reservoirs at 39%. The India Meteorological Department forecasts continued rainfall, which is expected to further boost storage levels and agricultural prospects.
Published: Jul 03 2025, 8 pmeznews.inInterGlobe Aviation, the operator of India’s largest domestic airline IndiGo, has appointed Amitabh Kant, a former bureaucrat and G20 Sherpa, as a non-executive director on its board. Kant, an IAS officer from the 1980 cadre, recently stepped down from his role as G20 Sherpa and previously served as CEO of Niti Aayog for six years, contributing to initiatives like Make in India and Startup India. He has also taken on an advisory role with Canadian investment firm Fairfax Financial Holdings. Vikram Singh Mehta, chairperson of IndiGo, expressed confidence that Kant’s leadership and extensive experience will significantly aid the airline's ambitious international expansion plans, aiming to establish itself as a global player by 2030. The appointment reflects IndiGo's strategy to leverage diverse expertise as it navigates the competitive aviation landscape.
Published: Jul 03 2025, 8 pmeznews.inIndia's negotiating position in its bilateral trade agreement (BTA) with the US is notably stronger than Vietnam's, as its export share to the US is significantly smaller, providing greater flexibility. Unlike Vietnam, which relies heavily on the US for nearly 30% of its exports, India’s exports to the US accounted for about 19% of its total goods exports in FY25, amounting to $86.51 billion. This contrasts with Vietnam's $136.6 billion in exports to the US, which resulted in a substantial trade deficit for the US. Indian negotiators are currently in Washington, D.C., attempting to secure an interim deal before a July 9 deadline to avoid steep tariffs. However, they face challenges in meeting US demands, particularly regarding sensitive sectors like agriculture and dairy, while also seeking reductions in US tariffs on labor-intensive products. The unique economic and political contexts of both countries mean that the Vietnam-US trade deal cannot serve as a template for India.
Published: Jul 03 2025, 7 pmeznews.inThe Adani Group is revolutionizing airport lounge access by enabling passengers to connect directly with lounges through its digital platform, eliminating the need for intermediaries. This move comes amid rising tensions in the industry, as DreamFolks' CEO Liberatha Peter Kallat accused major airport operators of pressuring banks to restrict lounge access for cardholders. In a LinkedIn post, Adani's airports CEO Arun Bansal emphasized the importance of innovation, likening their approach to fintech companies that streamline services. The shift has put pressure on DreamFolks, which integrates lounge access for banks and corporate clients, particularly after it announced the discontinuation of certain programs with Axis Bank and ICICI Bank. Adani operates seven airports that served 94.4 million passengers in FY25, and while it did not address Kallat's allegations directly, it highlighted ongoing collaborations with banks to enhance customer experiences in the lounge sector.
Published: Jul 03 2025, 7 pmeznews.inKerala's Agriculture Minister P Prasad has voiced serious concerns regarding the ongoing India-US trade negotiations, emphasizing the need for consultations with state governments to prevent detrimental socio-economic and ecological impacts. In letters to Union Ministers Shivraj Singh Chouhan and Piyush Goyal, Prasad expressed strong opposition to any agreement that could jeopardize the livelihoods of millions and threaten the agricultural foundation of Kerala and India. He highlighted the risks posed by US demands for concessions in agriculture, particularly for agrarian states like Kerala, where cash crops such as coconut and rubber are vital. Prasad also criticized NITI Aayog's recommendation for duty-free imports of GM soybeans and maize, which contradicts India's stance against GM crops for food. He warned that such imports would favor large US agribusinesses at the expense of local farmers, undermining Kerala's sustainable agricultural practices and threatening biodiversity in the Western Ghats.
Published: Jul 03 2025, 7 pmeznews.inThe Automotive Tyre Manufacturers Association (ATMA) has raised alarms over the quality of India's natural rubber, with low-grade lot rubber accounting for 30-35% of production. Chairman Arun Mammen highlighted the need to elevate quality to international standards to enhance price realisation for farmers, who currently receive the highest prices among rubber-producing nations. India’s natural rubber demand is projected to reach 2 million tonnes by 2030, yet domestic production stands at only 850,000 tonnes, necessitating imports for the shortfall. Notably, over 200,000 hectares of rubber cultivation remain untapped across India, with Kerala alone having 100,000 hectares due to factors like ageing trees and a shortage of tappers. ATMA is advocating for increased domestic production through targeted interventions and automation in tapping, as India’s tyre industry heavily relies on natural rubber, contrasting with the global trend of synthetic rubber dominance.
Published: Jul 03 2025, 7 pmeznews.inIn a significant move to enhance India's military capabilities, the Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, approved ten proposals worth ₹1.05 lakh crore during its first meeting following Operation Sindoor. The Ministry of Defence (MoD) highlighted that these procurements aim to improve mobility, air defence, and operational readiness across the Armed Forces. Notably, the Indian Navy's long-stalled ₹44,000 crore Mine Counter Measure Vessels project has been revived, while the Army received a ₹30,000 crore nod for the Quick Reaction Surface to Air Missiles (QRSAM) system, designed to counter UAVs and missiles. Additionally, the Indian Air Force will acquire three Intelligence, Surveillance, Target Acquisition and Reconnaissance (I-STAR) aircraft to bolster surveillance capabilities. The proposals, categorized under Buy (Indian-Indigenously Designed Developed and Manufactured), underscore the government's commitment to promoting indigenous defence production.
Published: Jul 03 2025, 7 pmeznews.inThe National Commodity & Derivatives Exchange Limited (NCDEX) has entered into a Memorandum of Understanding with the India Meteorological Department (IMD) to create India’s first rainfall-based weather derivatives. This innovative financial instrument aims to assist farmers and related sectors in mitigating climate-related risks, such as erratic rainfall and heatwaves. By leveraging historical and real-time data from the IMD, NCDEX plans to develop precise, location-specific derivative contracts that will enhance understanding of weather-related risks across various industries, including agriculture and transportation. NCDEX Managing Director Arun Raste emphasized that this partnership marks a significant advancement in commodity markets, providing farmers and traders with tools to navigate climate uncertainty. IMD's M Mohapatra noted that this collaboration will integrate scientific weather data into the financial sector, fostering economic stability and market innovation. The initiative will also include capacity-building and training programs for stakeholders in the agricultural sector.
Published: Jul 03 2025, 6 pmeznews.inIndia's logistics sector is at a pivotal moment, with significant potential driven by increasing trade, policy reforms, and a booming e-commerce market, according to a report by the Southern India Chamber of Commerce and Industry (SICCI). However, the sector faces challenges, including high logistics costs that account for 13-14% of GDP—far above the global average of 8%—which hampers competitiveness and export viability. Fragmentation within the supply chain, inconsistent state regulations, and a lack of real-time data sharing contribute to inefficiencies and delays. The report advocates for Performance-Linked Incentives (PLIs) to encourage cost-saving innovations, subsidies for multimodal transport, and the establishment of logistics technology incubation hubs. It emphasizes the need for improved last-mile connectivity, particularly in rural areas, and highlights Tamil Nadu's leadership in driving logistics transformation through strategic infrastructure and technology. The findings were presented at the Southern Regional Shipping Conclave, underscoring the urgency for collaborative efforts among stakeholders.
Published: Jul 03 2025, 6 pmeznews.inIndia's white-collar job market saw an 11% increase in fresher hiring in June, primarily in non-IT sectors, according to a report by Naukri. The Naukri JobSpeak index rose to 2,854, reflecting strong momentum across various industries. The hospitality sector led the growth with a 21% increase, followed by BPO/ITES at 19%, real estate at 16%, oil & gas at 15%, and healthcare at 11%. Notably, fresher hiring surged in sectors like architecture and interior design (74%), advertising and PR (44%), and media and entertainment (40%). After a prolonged period of stagnation, the IT sector rebounded with a 5% growth, driven by demand in tier-2 cities. While retail hiring remained flat overall, specific sub-sectors like consumer durables saw significant increases. Naukri's Executive Director highlighted the expanding opportunities for young professionals in these core service sectors.
Published: Jul 03 2025, 6 pm
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