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Chief Economic Advisor V Anantha Nageswaran has indicated that while nominal GDP growth may fall short of the Budget's 10.1% estimate for the current financial year, he remains optimistic about achieving the real GDP growth target of 6.3-6.8%. This optimism is bolstered by expectations of low inflation, attributed to a strong kharif harvest and recent GST reforms that have reduced prices on approximately 400 items. Nageswaran noted that the nominal GDP growth of 8.8% in the first quarter exceeded expectations, suggesting resilience in the Indian economy despite challenges such as a steep 50% tariff imposed by the US on Indian goods. He emphasized that the impact of GST reforms could be significant, depending on consumer response, and expressed confidence that the growth momentum observed in the first quarter would continue, albeit with some downward pressure from external trade uncertainties. 
Published: Sep 07 2025, 2 pmeznews.inIndia is advocating for a development-focused agenda within the World Trade Organization (WTO) by leveraging the collective strength of the Shanghai Cooperation Organization (SCO), which includes key members like China, Russia, and Pakistan. This initiative aims to secure a permanent solution for public stockholding (PSH) to enhance food security for developing nations, particularly as the WTO prepares for its 14th Ministerial Conference in March 2026 amid rising US unilateralism. At a recent SCO Trade Ministers’ meeting in Vladivostok, India highlighted its growing trade deficits with Russia and China, calling for improved market access and cooperation to address trade imbalances. Experts suggest that India's stance could unify developing countries in their push for effective special and differential treatment (S&DT) and a robust dispute settlement system at the WTO, countering US resistance to these demands. The SCO, representing 42% of the global population and 17.2% of trade, is seen as a vital platform for coordinated action to foster inclusive growth.
Published: Sep 07 2025, 8 pmeznews.inIndia's air travel demand has seen a significant rebound since August, according to ixigo Group CEO Aloke Bajpai, who expressed cautious optimism about the aviation sector's long-term growth. With air travel penetration at just 4% compared to 37% in China and 85% in the US, Bajpai anticipates an annual growth rate of 11-12% for the Indian aviation market. Recent government reforms, particularly in GST, are expected to boost domestic tourism by increasing disposable income for middle-class consumers. Despite a temporary decline in passenger numbers due to operational disruptions and capacity shortages, demand has normalised, aided by festive bookings. Bajpai highlighted the growing international travel demand, especially from Tier 2 cities, and ixigo's strategy to cater to first-time flyers and regional markets. The company is also expanding into hotels and leveraging AI to enhance customer service and operational efficiency, positioning itself as a key player in India's diverse travel market.
Published: Sep 07 2025, 5 pmeznews.inSahyadri Farms is preparing for an initial public offering (IPO) for its subsidiary, Sahyadri Farms Post Harvest Care, which has successfully raised approximately ₹700 crore across two funding rounds. The cooperative, based in Maharashtra, has expanded its farmer-centric model into Karnataka and aims to penetrate other southern states, particularly focusing on horticultural areas with potential for tropical crops. Chairman Vilas Shinde emphasized the need to diversify crop production beyond single-crop systems to mitigate risks and create a comprehensive value chain for consumers. The horticultural market, valued at ₹18 lakh crore, remains largely unorganised, presenting significant growth opportunities. Currently, the subsidiary generates 45% of its ₹1,950 crore revenue from exports, having diversified its market reach to 42 countries. Experts stress the importance of geographical diversification and value addition in the agri-produce sector to enhance profitability and shelf-life of perishable goods.
Published: Sep 07 2025, 6 pmeznews.inIndustry leaders in India's steel sector are set to convene for the Steel Conclave 2025 on September 8-9 in New Delhi, focusing on sustainable growth strategies. The event, attended by Union Steel Minister H D Kumaraswamy, will explore the integration of artificial intelligence in the steel value chain, financing for a green transition, and enhancing raw material availability. The Indian Steel Association (ISA) highlighted the need for decarbonisation, price risk management, and improved logistics and infrastructure efficiency. ISA President Naveen Jindal emphasized the goal of creating a resilient steel sector that aligns with global sustainability standards. Additionally, the government's recent reduction of the Goods and Services Tax (GST) on renewable energy products from 12% to 5% is expected to facilitate a shift towards greener energy sources, significantly reducing the industry's reliance on coal and lowering carbon emissions.
Published: Sep 07 2025, 4 pmeznews.inGMR Airport Limited (GAL) is positioning direct-to-consumer (D2C) businesses as a key driver of its growth, according to chairman GM Rao in the company's annual report. Operating airports in Delhi, Hyderabad, and Goa, which together handle 27.5% of India's passenger traffic, GAL is consolidating its non-aeronautical operations, including retail and duty-free, onto a unified platform. The company recently took over the duty-free business at Delhi airport and plans to do the same in Hyderabad by FY 2026. Additionally, GAL has assumed control of the cargo terminal at Delhi airport. Rao noted that these changes are expected to enhance revenue streams and profitability, with a projected improvement in cash flows and creditworthiness. GAL's net debt stood at ₹32,900 crore as of June, while it anticipates operational launches at three airports in India and ongoing construction of an airport in Greece by February 2027. In FY 25, GAL reported a revenue increase of 19% to ₹10,414 crore.
Published: Sep 07 2025, 4 pmeznews.inThe Indian Biogas Association (IBA) has welcomed the recent reduction of Goods and Services Tax (GST) on biogas plants and devices from 12% to 5%, effective September 22. This decision, part of a broader tax overhaul by the GST Council, aims to stimulate private investment in the compressed biogas (CBG) sector, with projections of $4-5 billion in investments by 2030. The IBA anticipates that the tax cut will enhance project viability, potentially increasing new investments by 4-5% in the short to medium term. The reform is expected to lower installation costs, making biogas more accessible and creating jobs in manufacturing and maintenance. IBA president AR Shukla emphasized the need for a comprehensive value chain analysis and called for addressing the inverted tax structure affecting biogas plant components to further encourage large-scale adoption. This initiative aligns with efforts to promote renewable energy access in rural areas, particularly through organic waste utilization.
Published: Sep 07 2025, 4 pmeznews.inIn Udhampur, the Jammu-Srinagar National Highway remains closed for the sixth consecutive day due to landslides triggered by heavy rainfall, severely impacting travel and the pilgrimage to the Mata Vaishno Devi shrine, which has been suspended for 13 days. Efforts by the National Highway Authority of India (NHAI) to restore the highway have been hampered by ongoing rain, with officials reporting that a 250-metre stretch remains buried under debris. Explosives have been deployed to clear the area, but progress is slow. Meanwhile, the Border Roads Organisation (BRO) has successfully restored traffic on the Basohli-Bani road, which had been washed out, allowing for improved connectivity in the region. The prolonged closure has left hundreds of vehicles stranded, particularly those transporting essential goods. Meteorological forecasts indicate the possibility of further rain in the coming days, complicating restoration efforts.
Published: Sep 07 2025, 3 pmeznews.inMobile technology is increasingly recognized as the cornerstone of the digital economy, according to Julian Gorman, Head of Asia Pacific at GSMA. Speaking at the COAI Dialogues 2025 in New Delhi, Gorman highlighted India's rapid digital growth, projecting that the digital economy could contribute approximately 20% to the nation's overall GDP. He noted that India's digital sector is expanding at a rate three to four times faster than its traditional economy, presenting vast opportunities for technology companies. Gorman emphasized the importance of digital trust, warning that cybersecurity threats pose risks to public confidence and must be addressed collaboratively by governments and industries. Lt Gen Dr SP Kochhar, Director General of COAI, echoed this sentiment, expressing optimism about India's future as a telecom leader and the importance of partnerships in fostering a secure digital ecosystem. The discussions marked a significant collaboration between GSMA and COAI, uniting various stakeholders in the telecom sector.
Published: Sep 07 2025, 3 pmeznews.inAt the recent Shanghai Cooperation Organisation (SCO) Trade Ministers' Meeting in Vladivostok, India underscored the need for coordinated efforts to bolster trade flows and promote inclusive growth, given that the SCO represents 42% of the global population and 17.2% of international trade. Indian officials cautioned against the misuse of export measures that could create artificial scarcity or disrupt supply chains, particularly in light of India's growing trade deficit with China, which has reached approximately $100 billion for 2024-25. Amitabh Kumar, Additional Secretary in the Department of Commerce, advocated for a fair and inclusive multilateral trading system anchored by the WTO, emphasizing the importance of addressing trade imbalances through improved market access and streamlined processes. India also proposed initiatives for the digital economy, focusing on regulatory frameworks and capacity-building to enhance the participation of micro, small, and medium enterprises in global value chains.
Published: Sep 07 2025, 3 pmeznews.inThe GST Council's recent decision to streamline India's tax structure from four slabs—5%, 12%, 18%, and 28%—to just two rates of 5% and 18% is expected to enhance transparency and ease of compliance, according to Ajay Kumar Srivastava, Managing Director and CEO of Indian Overseas Bank. This reform is projected to boost consumption in rural markets by 8-10% over the next two quarters, particularly benefiting farmers through reduced costs on agricultural products, which will see a GST reduction from 12% to 5%. Srivastava highlighted that lower taxes on daily essentials, vehicles, and housing materials will alleviate consumer burdens and stimulate demand. Additionally, making insurance policies tax-free is anticipated to promote financial inclusion. Overall, these changes are seen as a catalyst for inclusive growth and economic transformation, aligning with India's vision of a developed nation, or "Viksit Bharat."
Published: Sep 07 2025, 3 pm
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