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The Defence Research and Development Organisation's Aeronautical Development Agency (ADA) is set to issue an expression of interest in the coming weeks to select a production partner for the 5.5 generation Advanced Medium Combat Aircraft (AMCA), with the first prototype expected between 2026 and 2027. This initiative aims to engage the burgeoning indigenous aerospace sector, allowing companies like Tata Advanced Systems, L&T, and Mahindra Aerospace to participate in the manufacturing and supply chain for the stealth aircraft. Defence Minister Rajnath Singh has approved the programme, emphasizing that only indigenous firms can bid, although they may form joint ventures. Hindustan Aeronautics Limited (HAL) will lead the project, evaluating proposals from 24 indigenous companies to form a consortium. HAL is also exploring public-private partnerships, as seen in the ongoing Tejas LCA Mk-1A project, which involves multiple private sector contributions. 
Published: Jun 01 2025, 10 pmeznews.inPieter Elbers, CEO of IndiGo, has outlined the airline's ambitious plans to support India's economic growth as it aims to become the world's third-largest economy by 2027. In an exclusive interview, Elbers emphasized the importance of aviation in this trajectory, noting the evolution of Indian consumers from seeking the cheapest fares to prioritizing quality and international travel. Despite recent challenges, including the closure of Pakistan's airspace that led to the cancellation of 170 flights, IndiGo is undeterred in its expansion plans. The airline has announced new routes to European cities such as Manchester and Amsterdam, alongside plans for ten additional international destinations, including London and Athens. With a significant order of Airbus A350 aircraft and partnerships with major airlines like Delta and Air France-KLM, IndiGo aims to enhance its global network and reflect India's growing ambitions in the aviation sector.
Published: Jun 03 2025, 2 pmeznews.inKLM, part of the Air France-KLM group, is prioritizing its operations in India, which it views as its most significant market. CEO Marjan Rintel announced plans to launch a new route from Amsterdam to Hyderabad in September, capitalizing on the increasing demand for trade and travel. KLM currently serves Bengaluru, Delhi, and Mumbai, and is enhancing its market presence through a codeshare partnership with IndiGo, which will provide greater access to European and US destinations. Rintel highlighted the rise in outbound travel, immigration, and the demand for labor in Europe as key factors driving air travel demand from India. Despite a recent cooling in demand for economy class on US-India routes, business and premium traffic remain strong. Additionally, Air France has increased its flight frequency to Delhi, reflecting the airline's commitment to expanding its capacity in the region.
Published: Jun 03 2025, 12 pmeznews.inIndia and Paraguay are exploring new avenues to enhance their economic partnership, focusing on sectors such as digital technology, critical minerals, energy, agriculture, healthcare, and defence. Prime Minister Narendra Modi highlighted these opportunities during talks with Paraguayan President Santiago Pena Palacios in New Delhi. Pena, on a three-day official visit, aims to attract Indian investments, particularly in the automobile, biofuel, and pharmaceutical sectors, while also engaging with Indian business leaders. Modi referenced India's preferential trade agreement with MERCOSUR, suggesting that both nations could collaborate to expand it and improve market access. Additionally, Minister for Electronics and IT Ashwini Vaishnaw discussed potential cooperation in digital infrastructure and railway development, particularly in relation to the bi-oceanic corridor. Pena's itinerary includes a visit to Mumbai, where he will meet more business representatives to further strengthen commercial ties.
Published: Jun 02 2025, 9 pmeznews.inUS Commerce Secretary Howard Lutnick has indicated that a trade deal between India and the United States is imminent, aiming to lower tariffs and address the US trade deficit. Speaking at a US India Strategic Forum event, Lutnick emphasized that while the agreement will not encompass all items, it will facilitate reasonable market access for US businesses in India. He acknowledged India's protectionist tariffs but expressed a willingness to negotiate, suggesting that the US would reciprocate with favorable terms if India reduces its tariffs. The deal is crucial for India to mitigate the impact of US reciprocal tariffs, which were temporarily postponed. New Delhi is seeking greater access for its labor-intensive products and a waiver on steel and aluminum tariffs. A US trade delegation is set to visit India this week to advance negotiations, following discussions between Indian Commerce Minister Piyush Goyal and Lutnick in Washington last month.
Published: Jun 03 2025, 10 ameznews.inZuari Industries, a diversified business conglomerate, has reported a remarkable performance in the sugar sector, defying the downward trend in Uttar Pradesh. The company’s Gobind Sugar Mills in Lakhimpur achieved a record sugarcane crushing of 15.7 lakh tonnes, an 11% increase year-on-year, and produced 1.48 lakh tonnes of sugar with a recovery rate of 10.61%. This season marked the earliest start of crushing operations in the mill's history, significantly enhancing plant utilization. Sugar sales surged by 47% to ₹602 crore, driven by a substantial government allocation of nearly 100,398 tonnes, up 44% from the previous year. Managing Director Athar Shahab attributed the success to proactive farmer engagement and innovative initiatives, including a mobile app for real-time data and a 'Cane Excellence' program aimed at improving yield and recovery rates. The mill also set a new record by crushing 1.09 lakh tonnes of sugarcane in a single day.
Published: Jun 03 2025, 9 ameznews.inKetan Kothari, Director of Augmont Goldtech Private Ltd, has announced the company's collaboration with the Indian government to recycle gold currently idling in households, aiming to reduce the nation's imports of the precious metal. With over 30,000 tonnes of gold stored in homes, Kothari emphasized the potential for innovation to make India self-reliant in gold demand. Augmont is piloting a project allowing retail customers to deposit old gold for digital gold in return, while also facilitating a platform for jewellery manufacturers. The company is leveraging artificial intelligence to assess gold quality and enhance consumer understanding. Kothari noted a projected 10% gold deficit by 2025, driven by rising demand, including ETF purchases. Renisha Chainani, Head of Research, indicated that gold prices are stabilizing above ₹90,000 per 10 grams, with Augmont's extensive B2B and B2C platforms catering to a growing customer base across India.
Published: Jun 03 2025, 9 ameznews.inThe Indian government has reduced the basic import duty on crude edible oils, including palm, sunflower, and soya, from 20% to 10%, effective May 31. This decision is anticipated to lower raw material costs for food companies starting in the second quarter of FY26, potentially improving profit margins for consumer product firms if the price reductions are sustained. Industry experts, including Abneesh Roy from Nuvama Institutional Equities, highlighted that palm oil constitutes a significant portion of raw material costs for many food manufacturers, such as Britannia and Nestle India. The duty cut is expected to provide relief to consumers by stabilizing retail edible oil prices, with corrections anticipated in the coming days. Additionally, the move may benefit other FMCG companies reliant on palm oil derivatives, such as Hindustan Unilever and Godrej Consumer Products, as they navigate rising costs in other commodities.
Published: Jun 02 2025, 8 pmeznews.inIndia's Steel Minister, HD Kumaraswamy, has reaffirmed the government's commitment to safeguarding domestic steel producers from import pressures, particularly in light of recent US tariff hikes. Following the US's decision to double tariffs on steel and aluminium to 50%, Kumaraswamy noted that while India's direct exports to the US are minimal—accounting for only 0.1% of total production—the indirect effects could lead to increased competition and price pressures in other markets. The Indian steel industry has seen a 14.8% rise in imports, prompting the imposition of a provisional safeguard duty of 12% on certain flat steel products. With robust domestic demand projected to rise further due to government infrastructure initiatives, the minister emphasized ongoing monitoring of the situation and potential adjustments to safeguard measures. Additionally, India and the US are working towards enhancing bilateral trade ties, aiming to double trade to $500 billion by 2030.
Published: Jun 02 2025, 8 pmeznews.inIndia's new guidelines for the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI) have drawn interest from European automakers like Mercedes-Benz and Skoda-Volkswagen, as well as South Korea's Hyundai and Kia. Companies willing to invest at least ₹4,150 crore (approximately $500 million) in local manufacturing can import up to 8,000 electric vehicles annually at a reduced duty of 15%. However, Tesla, led by billionaire Elon Musk, has shown no interest in the scheme, focusing instead on establishing showrooms without committing to manufacturing or charging infrastructure. Minister of Heavy Industries HD Kumaraswamy confirmed that Tesla's participation in stakeholder discussions has been minimal. The SPMEPCI requires applicants to achieve a minimum domestic value addition of 25% within three years and allows for the import of fully built electric vehicles at reduced duties, with a cap on the total duty foregone.
Published: Jun 02 2025, 8 pmeznews.inIndia is set to launch a new electric vehicle (EV) policy aimed at attracting global automakers to establish local manufacturing, although Tesla Inc. is unlikely to participate due to its preference for selling imported cars through dealerships. The policy, announced by Heavy Industries Minister HD Kumaraswamy, will allow reduced import duties of 15% on electric cars priced over $35,000, provided manufacturers invest approximately $500 million in local plants within three years. However, the initiative faces skepticism, with analysts suggesting it may be a "non-starter" without major players like Tesla and BYD. Stringent conditions, including revenue targets and penalties for non-compliance, further complicate the appeal of the policy. Applications for the program are expected to open soon, with a deadline set for March 15, 2026. The government aims to boost manufacturing in India's growing EV market, despite resistance from established domestic automakers.
Published: Jun 02 2025, 9 pm
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