eznews.inIndia is contemplating significant changes to its iron ore mining auction system, where current premiums have surged between 110-200%. A proposed cap of 50% on these premiums aims to alleviate financial pressure on steelmakers, who argue that the existing competitive bidding process, established in 2015, has become prohibitively expensive. While this cap could create a more equitable environment, concerns have been raised about its potential impact on state revenues, particularly in mineral-rich Odisha, which generates approximately ₹45,000 crore annually from these premiums. Additionally, the shift to an upfront payment model may favor larger corporations, potentially sidelining smaller players and disrupting production. Despite the challenges, the current auction framework has successfully allocated over 550 blocks, promoting transparency and resource distribution. Stakeholders suggest enhancing the system by auctioning more greenfield blocks and expediting the permitting process rather than overhauling it entirely. 
Published: Sep 17 2025, 7 pmeznews.inThe Comptroller and Auditor General (C&AG) is set to launch a new digital portal by November, aimed at providing nearly 1 million auditee entities with a unified interface for responding to audit queries and reports. This initiative marks a significant shift towards remote and hybrid audits, enhancing audit coverage and efficiency while leveraging risk-based planning and secure access to government platforms. Deputy C&AG K S Subramanian highlighted the success of pilot studies in various audit domains, particularly in receipts audits, which are progressing rapidly due to automation and standardized data. The CAG-Connect portal will ensure transparency and accessibility for all stakeholders, facilitating quicker resolution of audit observations. Additionally, an AI initiative, the CAG-LLM, is being developed to improve audit analysis by harnessing institutional knowledge. The upcoming Annual Conference of State Finance Secretaries will address key issues in public finance and governance, with participation from senior officials across various sectors.
Published: Sep 17 2025, 7 pmeznews.inAs retailers prepare for the implementation of the Goods and Services Tax (GST) on September 22, businesses in tier 2 and tier 3 cities are offering discounts of up to 5% on televisions and air conditioners to stimulate sales. Major retailers like Croma and Reliance Digital are providing discounts of up to 10% on consumer durables, alongside incentives such as early booking and exchange offers, to clear existing inventory. However, sales have been sluggish, with a reported 20% decline in demand as consumers await the new GST rates. Original Equipment Manufacturers (OEMs) are also experiencing a slowdown but continue to launch new products, anticipating a 15% growth during the festive season. Retailers expect that once the GST cuts take effect, demand will rebound, particularly for large-sized televisions, which saw a notable increase in sales during the Onam festival.
Published: Sep 17 2025, 7 pmeznews.inThe inaugural World Teak Conference, hosted in India, has commenced, bringing together delegates from over 40 countries to address the challenges and opportunities in teak production and trade. Keynote speakers, including Kerala’s Principal Chief Conservator of Forests Rajesh Ravindran, emphasized the sector's struggles with climate change, inadequate planting materials, and market access barriers. Ravindran advocated for scientific methods and international collaboration to transform these challenges into opportunities. KB Singh from the Ministry of Environment highlighted the importance of sharing experiences from teak cultivation to avoid past mistakes and announced the introduction of a national transit permit system to facilitate timber movement. The conference will feature sessions on economic assessments, value addition, market development, and the establishment of legal and sustainable supply chains for teak, with calls for comprehensive discussions on the sector's future and the livelihoods it supports.
Published: Sep 17 2025, 6 pmeznews.inIndia's rooftop solar sector, which currently accounts for nearly 17% of the nation's total solar power capacity of 1.2 lakh MW, is poised for significant growth following the recent GST reform. The reduction of the GST rate from 12% to 5% is expected to lower capital costs for companies and provide savings for consumers, with estimates suggesting a decrease in costs by 4-5%. As of August 2025, India's installed rooftop solar capacity reached 20,850 MW, marking a 37% increase year-on-year, with Gujarat leading in capacity. Industry experts predict that the upfront investment for households will decrease by 5-7%, translating to savings of around ₹10,000 for a typical 3-kilowatt system. Additionally, the government’s strategic tax shift, which raises GST on coal and non-renewable products, underscores its commitment to promoting solar energy as a more affordable and sustainable alternative.
Published: Sep 17 2025, 5 pmeznews.inAt the ‘FT Live Energy Transition Summit India’ in New Delhi, Steel Secretary Sandeep Poundrik highlighted the potential impact of the European Union's Carbon Border Adjustment Mechanism (CBAM) on Indian steel exports. Set to be fully implemented by 2026, the CBAM will impose a carbon price on imports from countries with less stringent environmental regulations, initially affecting sectors like iron and steel. With two-thirds of India's steel exports, approximately 4.5 million tonnes, destined for Europe, Poundrik emphasized the need for the Indian steel industry to adapt, particularly as it predominantly relies on the higher-emission blast furnace route. He noted that India's steel sector contributes 12% of the country's greenhouse gas emissions, exceeding the global average. In response, the steel ministry has introduced a taxonomy for "green steel," aiming to reduce emissions and encourage sustainable production practices within the industry.
Published: Sep 17 2025, 4 pmeznews.inIndia has called for climate justice in fisheries governance during a three-day regional capacity building meeting for Bay of Bengal countries, co-organised by the UN's Food and Agriculture Organization (FAO) and the Bay of Bengal Programme Inter-Governmental Organisation (BOBP-IGO). Union Fisheries Secretary Abhilaksh Likhi highlighted that nations least responsible for climate change should not bear the brunt of its impacts, particularly as small-scale fishers play a crucial role in local economies and food security. He noted that extreme weather and rising sea temperatures threaten fish stocks and the livelihoods of vulnerable fishing communities. Likhi urged regional cooperation on climate adaptation and early warning systems, while India considers National Plans of Action (NPOAs) for small-scale fisheries. FAO analyst Lena Maria Westlund emphasised the importance of small-scale fisheries, which contribute nearly half of Asia's fish production and employ over 46 million people.
Published: Sep 17 2025, 4 pmeznews.inGlobal trade is expected to surge by 34-37% by 2040, driven by effective policies that harness Artificial Intelligence (AI) for enhanced productivity and reduced trade costs, according to the World Trade Organization's (WTO) latest report. However, the report warns that non-tariff measures, such as antidumping duties and export restrictions on AI-enabling goods like semiconductors, could hinder the global spread of AI. It emphasizes the necessity for policies that bridge the digital divide, invest in workforce skills, and ensure a stable trading environment. With global trade in AI-related goods reaching $2.3 trillion in 2023, the report highlights the increasing number of quantitative restrictions, which have risen from 130 in 2012 to nearly 500 in 2024, predominantly imposed by high-income economies. The WTO calls for international cooperation to balance data protection with the need for open trade, aiming to make AI benefits more inclusive across all economies.
Published: Sep 17 2025, 3 pmeznews.inIndiGo has announced the appointment of Amitabh Kant as an additional director on its board, effective September 15, 2025, following the receipt of necessary security clearance from the Ministry of Civil Aviation (MoCA). Kant, who previously served as the CEO of Niti Aayog and as India's G20 Sherpa, was initially announced for the position on July 3. In a regulatory filing, InterGlobe Aviation, IndiGo's parent company, confirmed that Kant will serve as a Non-Executive Non-Independent Director. This appointment marks a significant addition to IndiGo's leadership team as the airline continues to navigate the evolving aviation landscape in India. The announcement was made public on September 17, 2025.
Published: Sep 17 2025, 2 pmeznews.inIndia's tea exports saw a slight increase in the first half of 2025, reaching 125.01 million kg, up from 124.57 million kg during the same period in 2024, according to the Tea Board of India. Exports from North India rose significantly to 79.42 million kg, compared to 71.77 million kg last year, while South Indian tea exports fell to 45.59 million kg from 52.80 million kg. The total export value surged to ₹3,639.45 crore, a notable rise from ₹3,129.31 crore in the first half of 2024. Additionally, the unit price realization for tea exports improved to ₹291.13 per kg, up from ₹251.21 per kg in the previous year. In 2024, India's total tea exports amounted to 256.17 million kg, an increase from 231.69 million kg in 2023.
Published: Sep 17 2025, 2 pm
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