eznews.in
India's economy is projected to grow at an average rate of 6.7% from 2025 to 2040, surpassing China's anticipated 3% growth and that of ASEAN countries, according to a report by DBS Bank. The nominal GDP is expected to average 9.7%, with a potential "bull case" scenario suggesting growth could reach 7.3-7.5%. By 2025, India's economy is estimated to be worth $4.13 trillion, positioning it as the world's fourth-largest economy. If growth projections hold, nominal GDP could exceed $5.6 trillion by 2030 and approach $11.5 trillion by 2040, with per capita income rising to $7,000. The report emphasizes a "four D" framework—Development, Diversification, Digitalisation, and Decarbonisation—as essential for sustainable growth. Following an upgrade in its sovereign rating by S&P Global, India is poised to solidify its status as an upper middle-income country, aligning with the government's "Viksit Bharat" vision. 
Published: Oct 30 2025, 7 pmeznews.inIndia's engineering goods exports rose by 2.93% year-on-year in September, reaching USD 10.11 billion, marking the fourth consecutive month of growth, according to the Engineering Exports Promotion Council (EEPC). This increase occurred despite a significant 9.4% drop in shipments to the US, the largest market for Indian engineering products, where imports fell to USD 1.4 billion from USD 1.55 billion a year earlier, largely due to tariffs imposed during the Trump administration. Exports to the UAE also declined, but a notable 14.4% increase in shipments to China, alongside growth in other regions such as ASEAN and Latin America, helped sustain overall positive performance. EEPC chairman Pankaj Chadha highlighted the importance of South-South trade and ongoing negotiations for free trade agreements, while also noting challenges like high raw material costs and export controls from other nations. Cumulatively, engineering exports for the first half of the fiscal year grew by 5.35%.
Published: Oct 30 2025, 11 pmeznews.inThe Coalition for a GM-Free India has accused the Indian Council of Agricultural Research (ICAR) of manipulating trial results for two genome-edited rice varieties, Pusa DST-1 and DRR Dhan 100 (Kamala), to falsely promote their success. During a media briefing, coalition members claimed that ICAR's conclusions contradict its own data, alleging "scientific fraud" in the promotion of these varieties, which were touted as a global first by Union Agriculture Minister Shivraj Singh Chouhan. The coalition highlighted that Pusa DST-1 showed no evidence of drought or salinity tolerance and underperformed in multiple trials, while DRR Dhan 100 yielded lower than its parent variety in several sites. They called for the withdrawal of promotional claims and an independent review of ICAR's data. Independent researcher Soumik Banerjee emphasized the need for transparency in testing if the technology is indeed safe and effective.
Published: Oct 30 2025, 10 pmeznews.inUS President Donald Trump has repeatedly asserted that India is poised to eliminate its oil imports from Russia, a claim he reiterated recently, stating that Delhi has been "very good" regarding the issue. In response, India’s External Affairs Spokesperson Randhir Jaiswal confirmed that the country is assessing the implications of new US sanctions on Russian oil companies, including Rosneft and Lukoil, which could impact India's sourcing of oil, as Russia accounts for over 35% of its crude imports. Jaiswal emphasized that India’s energy decisions will prioritize the security needs of its 1.4 billion citizens, while also noting that there will be no immediate reactions to the sanctions. The US is pressuring India to curtail its Russian oil purchases, with Trump highlighting that 25% of the 50% import duties imposed on Indian goods are penalties related to these oil purchases.
Published: Oct 30 2025, 9 pmeznews.inNomura has projected robust growth in the Indian automobile sector, with passenger vehicle demand expected to rise in the teens and two-wheeler sales anticipated to grow in the mid-high single digits. The positive outlook follows the implementation of Goods and Services Tax (GST) reforms, which have spurred sales during the festival season. Retail volumes for passenger vehicles have surged by 14% year-on-year in October, while two-wheeler retail sales increased by 6.5%. The overall market sentiment has improved, with ICRA forecasting a 6-9% growth in wholesale volumes for FY26, driven by enhanced affordability and rural demand. The Federation of Automobile Dealers Association (FADA) suggests that festival sales in 2025 could reach record highs, as reduced down payments and EMIs have encouraged consumers to make purchases. This recovery signals a significant turnaround for the industry, bolstered by favorable economic conditions and consumer sentiment.
Published: Oct 30 2025, 8 pmeznews.inChina has granted export licenses for rare earth magnets to several Indian companies, including Jay Ushin Ltd and Continental AG, more than six months after imposing restrictions on such exports. This development, confirmed by Ministry of External Affairs spokesperson Randhir Jaiswal, comes amid a one-year trade truce between China and the US, which has alleviated tensions surrounding rare earth supplies. The easing of restrictions is particularly beneficial for India's auto and electronics sectors, which have faced production delays due to supply shortages. Jaiswal noted that while this is a short-term relief, Indian manufacturers should focus on localizing production to reduce dependence on China. The recent US-China agreement has also deferred additional export curbs that were set to take effect in November, providing further respite for Indian industries reliant on rare earth materials. The Indian Embassy in Beijing has been actively engaging with Chinese authorities to resolve these supply issues.
Published: Oct 30 2025, 8 pmeznews.inThe Union Power Ministry defended the Electricity (Amendment) Bill, 2025, amid significant backlash from Central Trade Unions and power employee federations, who argue it undermines federalism and facilitates private sector encroachment. The Ministry asserted that the bill aims to enhance the power distribution sector through financial discipline and competition, ultimately benefiting consumers with improved service and efficiency. It clarified that electricity is listed in the Concurrent List, allowing both the Centre and States to legislate, and emphasized a consultative approach for implementing reforms. The proposed Electricity Council will foster policy consensus, while State Electricity Regulatory Commissions (SERCs) will maintain their regulatory roles. Addressing concerns about rising costs for farmers and consumers, the Ministry argued that increased competition would lower overall electricity supply costs and eliminate inefficiencies associated with monopoly operations. The bill also aims to replace hidden cross-subsidies with transparent ones, ensuring protection for vulnerable groups.
Published: Oct 30 2025, 8 pmeznews.inAgriculture Minister Shivraj Singh Chouhan urged farmers to diversify their crops and adopt integrated farming practices during the “National FPO Samagam 2025” in New Delhi. He emphasized the importance of Farmers Producer Organisations (FPOs) in supporting small farmers and increasing their annual turnover. Chouhan highlighted that relying solely on grain production is insufficient, advocating for the inclusion of allied activities such as poultry and dairying to enhance farmers' income. The minister announced plans to introduce legislation in the upcoming budget session to regulate seed quality and combat counterfeit seeds, with states like Haryana and Punjab already implementing stricter penalties. With 46% of the population reliant on agriculture, Chouhan expressed concern over the disparity between farmers' hard work and the prices they receive for their crops. The event featured over 500 representatives from 140 districts, showcasing the progress of more than 10,000 FPOs formed under a central scheme.
Published: Oct 30 2025, 8 pmeznews.inBimal Kothari, Chairman of the India Pulses and Grains Association (IPGA), has commented on the government's recent decision to impose a 30% tariff on yellow pea imports, which includes a 10% customs duty and a 20% agriculture infrastructure development cess, effective November 1. While the trade had sought a higher 50% duty to curb cheaper imports, Kothari noted that the new tariff has led to only a modest price increase of ₹2-2.5 per kg, with current prices around ₹35 per kg, preventing a projected decline to ₹28-29 per kg. He emphasized that the duty aims to stabilize prices and send a positive signal to the market and farmers, despite the lack of a more substantial measure. Kothari also highlighted that yellow pea imports nearly doubled in FY25, prompting the government to open imports in December 2023 to address supply issues following a poor chana crop.
Published: Oct 30 2025, 8 pmeznews.inMangaluru International Airport Ltd (MgIAL) has reported substantial growth in passenger and cargo traffic since its transition to a public-private partnership with the Airports Authority of India five years ago. Following its Commercial Operation Date on October 31, 2020, the airport saw passenger numbers soar from 0.61 million in 2020-21 to 2.34 million in 2024-25, connecting six domestic metros and seven international destinations with over 50 daily air traffic movements. The number of air traffic movements increased significantly from 6,664 to 16,816 during the same period. The newly inaugurated integrated cargo terminal has processed 11,685 tonnes of cargo as of September 2025, with international operations starting in July 2024. In its commitment to sustainability, the airport has implemented various environmental initiatives, including 100% LED lighting and efforts to achieve zero waste-to-landfill certification, alongside tree planting activities.
Published: Oct 30 2025, 7 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact