eznews.in
During the BRICS Finance Ministers and Central Bank Governors meeting in Rio de Janeiro, Indian Finance Minister Nirmala Sitharaman engaged in bilateral discussions with her counterparts from Russia, Brazil, and China. In her meeting with Russian Finance Minister Anton Siluanov, she emphasized the enduring partnership between India and Russia, expressing gratitude for President Putin's support following a recent terror attack in Pahalgam. The two ministers explored financial cooperation and initiatives under the BRICS framework. Sitharaman also met Brazilian Finance Minister Fernando Haddad, commending Brazil's leadership in promoting a multipolar world and pledging India's support for its priorities as it prepares to assume the BRICS chair in 2026. Additionally, she discussed the potential for collaboration with Chinese Finance Minister Lan Fo'an, highlighting the economic significance of India and China in fostering inclusive global growth and representing the Global South. 
Published: Jul 06 2025, 8 ameznews.inThe Airline Pilots’ Association of India (ALPA) is advocating for reforms in the medical examination process for commercial pilot licence (CPL) holders, which currently mandates assessments at Indian Air Force (IAF) centres. An online petition highlights inefficiencies, long wait times, and travel costs associated with these military facilities, which are not accredited by the National Accreditation Board for Hospitals & Healthcare Providers (NABH) or the National Accreditation Board of Testing and Calibration Laboratories (NABL). ALPA argues that in major countries, such examinations are conducted by civil doctors, and they are calling for a shift to this model in India. The association also emphasizes the need for third-party audits of all medical examination centres to ensure fairness and accuracy. With a projected demand for 65,000 flight crew in the next decade, industry experts warn that current medical standards could hinder pilot availability, urging immediate policy changes.
Published: Jul 06 2025, 7 pmeznews.inIn India, per capita annual consumption of edible oil stands at 18 kg, while sugar consumption is approximately 20 kg, according to recent trade data. However, both figures have seen a decline in recent months, attributed to factors such as weather conditions, rising prices, and changing consumer preferences. This drop coincides with a government initiative, endorsed by Prime Minister Narendra Modi, urging citizens to reduce their intake of cooking oil, sugar, and salt for better health. Notably, cooking oil imports fell by 22% in May, while sugar sales also lagged, with 1 lakh tonnes remaining unsold from a government allocation. Industry experts suggest that while Modi's appeal may have influenced consumption patterns, broader economic sentiments and a shift towards healthier alternatives like jaggery are also at play. The government has allocated 229.5 lakh tonnes of sugar for domestic sales, a 6% decrease from the previous year, reflecting changing consumption trends.
Published: Jul 06 2025, 6 pmeznews.inDespite India having 171 approved Registered Vehicle Scrapping Facilities (RVSFs) across 20 states, public participation in the vehicle scrappage scheme remains low, with only 250,000 vehicles scrapped since April 2022, far below the estimated 30 million nearing the end of their life. The reluctance is attributed to minimal discounts offered by car manufacturers, with most providing only up to ₹25,000, insufficient to incentivize owners. Emotional attachments to vehicles, particularly first cars, further complicate the issue, as highlighted by the backlash against Delhi's ban on older vehicles. Additionally, rising vehicle costs and low per capita income have made new car purchases less affordable, contributing to a significant decline in small car sales. The uneven distribution of RVSFs, with many not operational, exacerbates the situation, leaving owners with limited options for scrapping their vehicles.
Published: Jul 06 2025, 5 pmeznews.inIndiGo, India's leading airline, is strategically targeting the transit passenger market between Europe and Southeast Asia, leveraging its hub in Mumbai. CEO Pieter Elbers highlighted the airline's geographical advantage, noting that connecting flights through Mumbai or Delhi present a viable option for travelers. Recently, IndiGo launched direct flights from Mumbai to Manchester and Amsterdam, with plans to expand to Copenhagen this winter. Elbers emphasized that while the airline may attract some traffic from Middle Eastern and European carriers, its primary goal is to provide additional travel options for Indian passengers, reflecting their diverse needs. With a fleet of over 400 aircraft and more than 2,200 daily flights, IndiGo aims to enhance its network using new Airbus A321XLR aircraft. The airline serviced over 118 million customers in FY25, underscoring its significant growth and commitment to expanding international connectivity.
Published: Jul 06 2025, 5 pmeznews.inIndia is pushing for a bilateral trade agreement (BTA) with the United States that prioritizes its interests, particularly in labour-intensive sectors like textiles and leather, to enhance its competitiveness in the American market. Following a week of negotiations in Washington, Indian officials did not finalize a deal, with hopes for an interim agreement before the expiration of a 90-day pause on US reciprocal tariffs on July 9. A source indicated that India has proposed reducing tariffs on American goods while insisting that its sensitive sectors, including agriculture and dairy, be protected. The situation now rests with the US, as President Donald Trump prepares to send letters detailing new tariffs to trade partners, including India, which faces a fixed tariff rate of 26% due to its trade deficit with the US. The outcome of these negotiations remains uncertain as both sides navigate their respective demands.
Published: Jul 06 2025, 4 pmeznews.inAlvaro Lario, President of the International Fund for Agricultural Development (IFAD), highlighted the urgent need for approximately $75 billion in investments to help small-scale farmers in India adapt to climate change. In an interview, he emphasized the challenges faced by rural communities, particularly the 86.2% of farmers who are smallholders yet own only 47.3% of farmland. Lario noted that these farmers receive less than 1% of global climate finance, despite their critical role in agriculture, which contributes 20% to India's GDP. He praised initiatives like the 'soil health card' and IFAD's efforts in states such as Meghalaya and Mizoram, where market-driven enterprises and integrated farming practices are being promoted. Lario stressed the importance of mobilizing long-term financing and private capital to enhance income and resilience among small-scale farmers, while also aligning with the Indian government's strategies to support rural development.
Published: Jul 06 2025, 3 pmeznews.inAs India moves closer to becoming the world's third-largest economy and a global manufacturing hub, the government is enhancing its investment framework to attract foreign investors. Currently, India is negotiating bilateral investment treaties (BITs) with over a dozen countries, including Saudi Arabia, Qatar, and Australia, aimed at protecting and promoting mutual investments. The government plans to finalize several BITs within the next six months, having already signed agreements with the UAE and Uzbekistan in 2024. These treaties are designed to balance investor protection with domestic policy needs, including a recent reduction in the local remedy period from five to three years under the India-UAE BIT. Experts suggest that these agreements will enable India to forge tailored partnerships, enhancing its appeal as a safe investment destination, with foreign direct investment inflows surpassing $1 trillion since 2000, particularly in sectors like services, telecommunications, and pharmaceuticals.
Published: Jul 06 2025, 3 pmeznews.inIndia's electronics manufacturing sector is grappling with significant challenges following the reclassification of gold compounds as "restricted" imports by the Directorate General of Foreign Trade (DGFT) on June 17. This move comes amid China's export restrictions on rare earth magnets, crucial for various applications, including semiconductors and electric vehicles. The India Cellular and Electronics Association (ICEA) has expressed concerns that these import curbs create uncertainty, hindering efforts to scale up domestic production and potentially deterring investment. Elcina, representing electronic component manufacturers, reported that delays in importing essential materials like Potassium Gold Cyanide are disrupting supply chains and production lines. With over 21,000 jobs at risk in regions like Noida and South India due to these restrictions, the situation poses a significant threat to India's "Make in India" initiative and broader economic goals.
Published: Jul 06 2025, 3 pmeznews.inUnion Home and Cooperation Minister Amit Shah, alongside Gujarat Chief Minister Bhupendra Patel, announced the establishment of the 'Sardar Patel Co-operative Dairy Federation Ltd' during the 4th Foundation Day of the Ministry of Cooperation in Anand, Gujarat, on Sunday. This new multi-State co-operative, registered under the Multi-State Co-operative Societies Act, aims to streamline milk collection across 20 States and two Union Territories, with an initial corpus of ₹200 crore. Shah emphasized that the federation will support farmers by ensuring fair pricing and procurement practices, similar to those of Amul. The federation will not engage in credit or housing activities and will operate in various states, including Himachal Pradesh, Punjab, and Tamil Nadu. Additionally, a new co-operative for salt producers was launched in Kutch to benefit traditional salt farmers. Shah highlighted the importance of transparency and technology in sustaining co-operative movements.
Published: Jul 06 2025, 2 pmeznews.inIndia's economy has nearly tripled in size over the past decade, with the GDP projected to rise from ₹106.57 lakh crore in 2014-15 to ₹331.03 lakh crore by 2024-25, according to a government report released on Sunday. The real growth rate for FY25 stands at 6.5%, with expectations to maintain a similar pace in FY26. Despite global economic fragility, India is viewed as a bright spot, bolstered by rising rural consumption, urban spending, and private investment. Inflation rates have significantly eased, with retail inflation at a 75-month low of 2.82% and food inflation at just 0.99% in May 2025. The Reserve Bank of India anticipates inflation will align with its medium-term target of 4%, supported by stable food prices and controlled global commodity costs. The report emphasizes that key sectors like manufacturing, services, and infrastructure are advancing, underpinned by consistent investment and policy focus, positioning India for a robust economic future.
Published: Jul 06 2025, 2 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact