eznews.in
The Standing Committee on Finance in India, led by BJP MP Bhartruhari Mahtab, has proposed significant reforms to enhance corporate accountability in Environmental, Social, and Governance (ESG) practices. Key recommendations include establishing an independent ESG oversight body within the Ministry of Corporate Affairs (MCA) and amending the Companies Act of 2013 to make ESG objectives a fiduciary responsibility for corporate directors. This initiative aims to combat greenwashing—where companies misrepresent their sustainability efforts—by introducing penalties for misleading claims. The committee also suggests creating independent ESG committees within corporate boards to ensure effective monitoring and integration of sustainability into business strategies. Additionally, it calls for the MCA to include a dedicated ESG chapter in its Annual Report starting in fiscal year 2025-26, promoting transparency and accountability. If adopted, these measures could position India as a leader in ESG regulation, aligning its practices with global standards and attracting ethical investors. 
Published: Mar 22 2025, 7 pmeznews.inKolkata-based logistics firm Western Carriers is optimistic about a rebound in its export-import cargo business in the upcoming financial year, attributing this to the gradual resolution of the Red Sea crisis, which had severely disrupted international trade in 2024. Kanishka Sethia, the company's Director and CEO, noted that the geopolitical tensions had led to erratic vessel schedules and congestion at transshipment ports, but improvements are now anticipated. Despite the challenges, Western Carriers reported stable revenue over the past nine months, driven by robust domestic demand, particularly from the industrial and MSME sectors in western India. Looking ahead to FY26, the company plans to expand its presence across key sectors, including metals, FMCG, and pharmaceuticals, while focusing on optimizing costs and improving turnaround times to enhance profitability. With extensive experience in multimodal logistics, Western Carriers aims to capitalize on the improving supply chain conditions.
Published: Mar 23 2025, 10 pmeznews.inIndia's wind power generation saw a slight decline of 0.38% in the current financial year, producing 73,621 million units (MU) from April to January, compared to 73,899 MU in the same period last year. While states like Gujarat, Tamil Nadu, and Karnataka reported increases in wind power output, others, including Rajasthan and Andhra Pradesh, experienced significant declines of 17% and 16%, respectively. Experts attribute these fluctuations to variations in wind patterns, particularly during the FY25 monsoon season, although a recovery was noted in December and January. In contrast, solar power generation surged by 22.6%, reaching 114,425 MU. Industry leaders emphasize that despite challenges, wind energy remains vital for India's renewable sector, with substantial growth potential, especially as the government aims for 500 GW of clean energy capacity by 2030. Clean power auctions also saw a significant increase, reflecting a shift towards hybrid projects combining wind, solar, and energy storage.
Published: Mar 23 2025, 8 pmeznews.inChina is increasingly utilizing Mexico and Canada as transshipment hubs to send small packages to the United States, effectively bypassing tariffs through the US De Minimis Rule, which allows goods valued at $800 or less to enter duty-free. Major transit points include Tijuana and Monterrey in Mexico, and Vancouver and Toronto in Canada. This logistics strategy, supported by e-commerce platforms like Temu and Shein, reduces shipping times from 10-30 days to just 3-7 days. Chinese companies also leverage the US-Mexico-Canada Agreement (USMCA) by establishing near-shore assembly units to claim North American origin for goods, thus benefiting from preferential treatment. However, the USMCA's rules of origin require substantial transformation for eligibility, posing challenges for companies that may only repackage or relabel products. As the trade landscape evolves, the sustainability of this logistics model remains uncertain.
Published: Mar 23 2025, 9 pmeznews.inThe long-standing demand for a five-day banking week is gaining traction within the Indian government, with Finance Minister Nirmala Sitharaman's office now actively discussing the issue. A senior official from the Department of Financial Services (DFS) confirmed this during a recent conciliation meeting between the United Forum of Bank Unions (UFBU) and the Indian Banks’ Association (IBA). Following assurances from the Chief Labour Commissioner (CLC) that the demand would be monitored, the UFBU has decided to defer a planned strike on March 24-25, expressing optimism for a resolution. Union representatives highlighted that the five-day work week, previously agreed upon in the 12th Bipartite Settlement, would enhance employee well-being while ensuring customer service efficiency through digital banking. Additionally, the DFS reported progress in filling vacancies for workmen and officer directors in Public Sector Banks, with 14 names submitted for approval, addressing a decade-long issue of unfilled posts.
Published: Mar 23 2025, 9 pmeznews.inThe Indian government is set to launch the PM Dhana Dhaanya Yojana (PMDDY) aimed at enhancing farmers' incomes in 100 aspirational districts, benefiting approximately 1.6 crore farmers. Announced in the recent Budget, the initiative focuses on improving productivity, credit access, irrigation, and post-harvest management in areas with low agricultural output. Agriculture Minister Shivraj Singh Chouhan highlighted the need for a flexible policy that allows farmers to choose quality products, addressing concerns over substandard equipment that can deter participation in subsidy programs. The government is also integrating various irrigation schemes to ensure reliable water supply. Additionally, the Committee on Doubling Farmers’ Income has identified key growth areas, including crop productivity and diversification into high-value crops. Recent data indicates a rise in average monthly income for agricultural households, reflecting the potential impact of these initiatives on rural livelihoods. The PMDDY is expected to be implemented before the Kharif sowing season in June.
Published: Mar 23 2025, 9 pmeznews.inIndia's largest private airlines are resisting a request from the Directorate General of Civil Aviation (DGCA) to share detailed ticket-wise airfare data from the past two years, citing concerns over confidentiality and competitive risks. Instead, they propose to provide a summary of ticket sales across various fare categories. The DGCA's request follows a surge in airfares, particularly during the Kumbhmela, prompting calls for increased scrutiny of pricing practices. The Federation of Indian Airlines (FIA), which includes major carriers like Air India and IndiGo, argues that disclosing granular fare data could expose sensitive information to third parties, impacting revenue management. While the government insists it does not intend to regulate airfares, there is growing pressure from parliamentarians for a monitoring mechanism to prevent excessive price hikes during peak travel periods. The dynamic pricing model, introduced after the deregulation of air travel in 1994, has led to significant fare variances, raising concerns among regulators.
Published: Mar 23 2025, 8 pmeznews.inIndia's heavy reliance on foreign shipping vessels, costing the nation $90 billion annually—its second-largest import expense after crude oil—has prompted urgent calls for a robust domestic fleet. The ongoing Red Sea crisis and impending US tariffs on Chinese ships underscore the need for India to enhance its maritime capabilities. The government’s initiative to launch the Bharat Container Line (BCL) aims to reduce dependence on foreign carriers, which currently dominate the market, with foreign firms like Maersk and MSC handling most container traffic. Experts argue that a home-grown fleet could foster genuine competition, lower costs, and improve logistics security, crucial for India's trade ambitions. Proposed reforms include a ₹25,000 crore maritime development fund and financial assistance for shipbuilding, alongside calls for policy changes to boost local manufacturing and address the inverted GST structure affecting shipyards. These measures could significantly enhance India's position in global maritime trade.
Published: Mar 23 2025, 8 pmeznews.inA Parliamentary panel in India has urged the Ministry of Information and Broadcasting to enhance ethical standards for digital content, particularly to protect vulnerable children from the glorification of harmful substances such as drugs and alcohol. In its 11th report, the Standing Committee on Communication and Information Technology highlighted the significant impact of such content on youth and recommended a stronger code of ethics to mitigate these influences. The panel also called for a comprehensive Media Bill to address the challenges posed by new media and technologies, alongside a review of existing advisories on streaming content related to narcotics. Additionally, it suggested raising public awareness about these guidelines and proposed the establishment of a Media Council to unify various media forms for better regulatory coordination. This comes amid recent controversies surrounding influencer remarks, emphasizing the need for updated media laws.
Published: Mar 23 2025, 8 pmeznews.inIndia's renewable energy sector is poised for a record-breaking fiscal year, with new capacity additions expected to exceed 25 GW, marking a 35% increase from FY24. As of February 2025, the country has already added 24 GW, surpassing previous years' totals of 18.5 GW in FY24 and 15.3 GW in FY23, primarily driven by solar energy, which contributed nearly 21 GW. The cumulative renewable capacity has reached 168 GW, with solar accounting for 103 GW. Despite the surge in capacity, challenges persist, including 8.5 GW of undersubscribed tenders and 40 GW of unsigned power sale agreements, raising concerns about project execution. Analysts predict that solar deployment will accelerate further, with expectations of 85-90 GW in FY26-27, contingent on resolving existing contractual and infrastructure issues. The sector's growth reflects India's commitment to renewable energy, with a significant focus on residential rooftop solar and hybrid projects.
Published: Mar 23 2025, 7 pmeznews.inThe Airports Authority of India (AAI) is set to conduct a feasibility study from April 7 to 9 as competition heats up between Nelamangala and Kanakapura for a second airport in Bengaluru. Kanakapura boasts existing infrastructure and connectivity via NH 948 and the upcoming Bengaluru Metro extension, but faces challenges with land acquisition due to agricultural holdings. Conversely, Nelamangala offers more dry land and affordability, yet requires sustainable planning to protect its ecological integrity. Three potential sites are under consideration: Chudahalli, Somanahalli on Kanakapura Road, and a location on the Nelamangala-Kunigal Road. However, the exclusivity clause in Bengaluru International Airport Limited’s concession agreement could complicate the project. While Nelamangala is well-established with ongoing infrastructure improvements, both regions must navigate environmental concerns as they pursue development opportunities, balancing growth with ecological preservation.
Published: Mar 23 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