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Chennai Metro Rail Limited (CMRL) has signed a contract with Alstom Transport India for the procurement of 32 driverless, three-car Unattended Train Operations (UTO) trains, valued at ₹1,538 crores. The agreement, formalized on Thursday, follows a Letter of Acceptance issued to Alstom on April 28. The first train is expected to be delivered by February 2027, with subsequent deliveries scheduled between September 2027 and May 2028. Each train will undergo extensive testing at CMRL facilities for 14 months, including integration and service trials. The contract encompasses the design, manufacture, supply, testing, commissioning, and a 15-year comprehensive maintenance plan for the 96 cars forming the 32 UTO trains. This marks the third and final contract for the procurement of UTO Metro Trains under CMRL's Phase 2 project, with the agreement signed by CMRL's Manoj Goyal and Alstom's Parag Nandlal Gohel. 
Published: Jun 05 2025, 1 pmeznews.inThe Indian government is actively exploring ways to enhance the capabilities of home-grown accounting, audit, and advisory firms, as highlighted by Rakesh Nangia, Managing Partner of Nangia & Co LLP. He emphasized the strategic importance of fostering large-scale Indian firms to align more closely with the local regulatory and business landscape, akin to the success of the IT sector. Nangia pointed out that Indian firms possess a competitive edge through their understanding of local regulations and client needs, enabling them to provide agile, customized solutions. He called for policy measures such as promoting Indian firms in public sector procurement, ensuring regulatory parity, and investing in talent development to help these firms scale and compete globally. With the right support, Indian audit and advisory firms could emerge as significant players in the global market, aiming for a 35% year-on-year growth while focusing on innovation and quality service delivery.
Published: Jun 06 2025, 7 pmeznews.inThe recent reduction in import duty on edible oils, including palm, soya, and sunflower, is expected to benefit FMCG companies by improving their margins and stabilizing input costs, experts say. Palm oil, a crucial ingredient for many food products and soaps, constitutes 25-30% of raw material costs for food companies, and the duty cut is anticipated to help mitigate consumer inflation. Mayank Shah, VP of Parle Products, noted that while consumer prices may not change significantly, the reduction will help maintain current pricing levels. The government’s decision, effective May 31, 2025, aims to lower food prices and comes as global palm oil prices show signs of softening. Companies like Godrej Consumer Products and others in the food sector, including Britannia and Nestle, are poised to benefit from this move, which follows a period of rising input costs that pressured FMCG gross margins.
Published: Jun 06 2025, 7 pmeznews.inThe Indian Navy is set to commission its first Anti-Submarine Warfare Shallow Water Craft (ASW-SWC), named 'Arnala', on June 28 at Naval Dockyard, Visakhapatnam. Delivered on May 8, Arnala was jointly produced by Garden Reach Shipbuilders & Engineers (GRSE) and L&T Shipbuilders, under the guidance of the Directorate of Ship Production. The warship, named after the historic Arnala Fort in Maharashtra, embodies India's maritime heritage and is designed to maintain a formidable presence at sea. With over 80% indigenous content, Arnala integrates advanced systems from leading Indian defence firms and has involved over 55 Micro, Small, and Medium Enterprises, bolstering domestic industry. Measuring 77.6 meters in length and weighing over 1,490 tonnes, it is the largest Indian Naval vessel powered by a Diesel Engine-Waterjet combination, equipped for various operations including subsurface surveillance and search and rescue missions.
Published: Jun 06 2025, 7 pmeznews.inThe Reserve Bank of India (RBI) has maintained its GDP growth forecast for FY26 at 6.50%, with Governor Sanjay Malhotra highlighting the resilience and potential of the Indian economy. While the retail inflation projection has been revised down to 3.70% from 4%, Malhotra acknowledged that growth remains below the aspirational target of 8% due to global uncertainties. He emphasized the strength of India's economy, supported by robust balance sheets across key sectors, and noted stability in price, financial, and political domains, which fosters economic certainty. Malhotra outlined the opportunities for investors through the "3Ds" of demography, digitalisation, and domestic demand, asserting that these fundamentals will help shield the economy from global shocks. He also announced a 50 basis points cut in the repo rate to 5.50% and a shift in monetary policy stance to "neutral," aimed at enhancing domestic growth while ensuring price stability.
Published: Jun 06 2025, 7 pmeznews.inTrade negotiations between Indian and US officials have been extended into next week as both nations strive to reach an agreement on tariff reductions in the agricultural and automotive sectors before a July 9 deadline. A US delegation, led by senior representatives from the Office of the United States Trade Representative, engaged in two days of discussions in New Delhi with Indian negotiators, including chief negotiator Rajesh Agrawal. The talks aim to enhance market access and reduce both tariff and non-tariff barriers. Many Indian exporters have reportedly delayed shipments to the US, concerned that their goods may not arrive before the deadline. Despite a significant increase in India's exports to the US, which rose nearly 28% year-on-year to $37.7 billion in early 2025, India remains resistant to US demands for greater access to its agricultural markets, citing the potential impact on local farmers.
Published: Jun 06 2025, 7 pmeznews.inA recent report by Protiviti highlights significant investment trends among banks in anticipation of the Digital Personal Data Protection Act (DPDPA), 2023. It reveals that 37% of high-revenue organisations, particularly those with revenues exceeding ₹1,000 crore, plan to allocate over ₹5 crore for privacy programs, while only 4% of low-revenue organisations are making similar investments. The report underscores the importance of data fiduciaries and processors in the banking sector, emphasizing that banks must ensure compliance from their outsourced vendors. Additionally, the introduction of a consent manager role under the DPDPA aims to streamline compliance for banks. However, challenges remain, particularly regarding the processing of children's data, which requires parental consent, adding complexity to account creation processes. The report calls for robust contractual agreements and oversight to ensure effective implementation of these new regulations in banking operations.
Published: Jun 06 2025, 6 pmeznews.inSingapore-based Blue Planet Environmental Solutions Pte Ltd is set to establish the world's largest waste processing plant in Kodungaiyur, North Chennai, Tamil Nadu, in collaboration with local farmers to convert agricultural waste, including paddy stubble, into compressed biogas (CBG). Co-founder and CEO Prashant Singh announced plans to eliminate the existing landfill, which contains 6.6 million cubic meters of waste, over the next three years. The Greater Chennai Corporation has approved a bio-mining project aimed at reclaiming this long-standing environmental burden. Blue Planet, active in 15 states and recognized as a leading player in landfill biomining, has already processed over 15 million tonnes of waste. The company has developed innovative technologies for waste management and is in discussions to expand its CBG projects in Uttar Pradesh, Haryana, and Uttarakhand, aiming to provide organic fertilizers and reduce reliance on chemical inputs for farmers.
Published: Jun 06 2025, 6 pmeznews.inAkasa Air has announced it will begin operations at Navi Mumbai airport, planning over 100 weekly domestic departures following a memorandum of understanding with the airport authorities. While the airport is anticipated to open by the end of August, a specific date has yet to be confirmed. The airline aims to expand its operations to more than 300 domestic and over 50 international departures weekly during the winter schedule, enhancing connectivity for the Mumbai metropolitan area, particularly to tier-II cities. Currently, Akasa Air operates around 32 daily departures from Mumbai and intends to maintain this without consolidating operations. CEO Vijay Dube emphasized that Akasa Air will have the largest proportion of its fleet based at Navi Mumbai airport, highlighting the partnership with the Adani group as a strategic move to meet growing demand. Akasa Air follows IndiGo, which will be the first airline to operate from the new airport.
Published: Jun 06 2025, 5 pmeznews.inThe V.O. Chidambaranar Port in Thoothukudi has announced plans to develop a 1 MW green hydrogen project in collaboration with NTPC, as part of its broader commitment to sustainable development. The port is also engaging in collaborative studies with the European Union and major ports, including Singapore and Rotterdam, to establish biofuel corridors and enhance green hydrogen initiatives. In addition to the hydrogen project, the port is executing a 1 MW solar power project and considering a 2 MW battery storage system. A tender process has begun for a 6 MW wind power project, while feasibility studies for innovative solutions such as Wind Trees and Offshore Wind Energy are underway. The port is also upgrading its administrative office to meet green certification standards and is making progress on a Shore-to-Ship Power Supply project for coastal berths, reflecting its dedication to environmental sustainability.
Published: Jun 06 2025, 5 pmeznews.inOdisha has expanded its mango export markets to include France and Belgium, adding to existing destinations like Dubai and London. In the 2024-25 season, the state entered seven international markets, surpassing this number in early 2025-26. By June 2025, Odisha exported 13.4 tonnes of mangoes, primarily through Farmer Producer Organisations (FPOs), contributing to a total export volume nearing 100 tonnes since exports began in May 2024. The Amrapalli and Dashehari varieties have been particularly popular. Gitashree Padhi, Deputy Director of Horticulture in Dhenkanal, highlighted the global acceptance of Odisha mangoes as a testament to the state's agricultural potential. Farmers have reported earning 40-60% higher prices due to direct export access and improved quality standards, with support from the Department of Agriculture and Farmers’ Empowerment and Palladium India, under a project backed by the Gates Foundation and NABARD.
Published: Jun 06 2025, 5 pm
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