eznews.in
In a remarkable two-year growth, GIFT City in Gujarat has emerged as a burgeoning hub for ship leasing, with 27 registered entities operating from its International Financial Services Centre (IFSC) as of October. The number of vessels leased or purchased has surged to 30, including 16 ships bought and 14 leased, with bulk carriers making up 43% of these transactions. The total value of assets leased has reached $1.47 billion, highlighting a significant shift in maritime finance to Indian oversight. While GIFT IFSC is still developing compared to established centers like Singapore, it offers a unified regulatory framework that attracts global financiers. However, challenges remain, including regulatory hurdles and the need for streamlined processes for Indian-flagged ships. Experts advocate for amendments to existing rules to enhance operational efficiency and support the growth of ancillary services within the sector. 
Published: Dec 15 2025, 6 ameznews.inEtihad Airways reported a record 2.1 million passengers in November 2025, reflecting a 28% year-on-year increase and marking a peak in the airline's traffic for the year. The airline achieved a robust passenger load factor of 89% for the month, contributing to a total of 20.2 million passengers flown in the first 11 months of 2025, a 20% rise compared to the same period in 2024. Etihad's fleet expanded to 124 aircraft, up from 98 in November 2024, with the addition of four A321LRs, underscoring its ambitious growth strategy. In related news, CMA CGM launched the CMA CGM Antigone, a new dual-fuel methanol ship, enhancing its fleet's energy transition efforts. Additionally, an all-woman crew has begun operating continuous ship unloaders at APM Terminals Callao in Peru, marking a significant milestone for the country's maritime sector and improving grain handling efficiency.
Published: Dec 15 2025, 6 ameznews.inIndia's port sector demonstrated stable growth in FY2025, with cargo volumes increasing by approximately 3.3% year-on-year. The largest share of cargo was attributed to petroleum, oil, and lubricants (POL) at 28%, followed by coal at 24% and containers at 21.5%. Notably, container volumes surged by 11% to 351 million tonnes, driven by increased containerisation. In the first seven months of FY2026, cargo volumes rose by 4.1% compared to the previous year, with expectations of 3-5% growth for FY2026, bolstered by strong container and fertilizer performance. Significant policy reforms were enacted, including five landmark Bills aimed at modernising maritime operations. The upcoming Union Budget 2026-27 is anticipated to focus on enhancing the shipbuilding industry and port connectivity, with continued investments in the Sagarmala project and the Inland Waterways Authority of India, ensuring India's competitive edge in global trade.
Published: Dec 15 2025, 6 ameznews.inThe Visakhapatnam International Cruise Terminal (VICT) is poised to revolutionize cruise tourism on India's East Coast, having welcomed nearly 10,000 passengers since its opening in September 2023. M Angamuthu, Chairperson of the Visakhapatnam Port Authority (VPA), highlighted the terminal's operational success and its role as a hub for tourist activities, with expectations for increased cruise traffic. Built at a cost of ₹93 crore, VICT has already surpassed initial performance forecasts, notably hosting the luxury cruise ship MV The World and three voyages of Cordelia Cruises' MV Empress, which collectively transported 8,100 passengers in FY2025-26. The terminal's strategic location, modern infrastructure, and compliance with international security standards have attracted significant interest from cruise operators. Looking ahead, VICT aims to double its passenger capacity to 20,000 by 2029, in line with the Cruise Bharat Mission's objectives.
Published: Dec 15 2025, 6 ameznews.inIndian travellers are increasingly opting for short-haul international trips and budget-friendly options as the depreciating rupee makes long-haul holidays more expensive. With overall tour prices rising by 8-12% compared to last Christmas, airfares and hotel rates have surged due to strong demand, inflation, and limited availability at popular destinations. The rupee's decline, which recently surpassed 90 to the US dollar, has further inflated holiday costs. Despite these challenges, demand remains robust, particularly for destinations like Dubai and Vietnam, while domestic spots such as Rajasthan and the North-East are also popular. Increased flight capacity on routes to Thailand and Vietnam has helped stabilize fares, unlike long-haul routes, which continue to see higher prices. In 2024, 30.89 million Indians travelled abroad, with leisure trips accounting for 42% of this figure, and the UAE remains the top destination for Indian travellers.
Published: Dec 14 2025, 9 pmeznews.inAndhra Pradesh has emerged as a leader in agricultural production, ranking first in the country for fruit output with over 19 million tonnes during the 2024–25 financial year, according to a recent report from the Reserve Bank of India. The state also excelled in fish production, contributing nearly 5.1 million tonnes. Economic indicators show robust growth, with the Gross State Domestic Product (GSDP) estimated at approximately ₹16 lakh crore and a per capita GSDP exceeding ₹2.5 lakh. Additionally, Andhra Pradesh ranks 14th nationally for power availability, with nearly 1,500 units per capita. Life expectancy in the state matches the national average at 70 years, with women living longer at 73 years compared to 68 years for men. In its pursuit of Sustainable Development Goals, Andhra Pradesh ranks 10th in the country with a score of 74, reflecting its ongoing social and economic advancements.
Published: Dec 14 2025, 9 pmeznews.inGopalan Aerospace, a subsidiary of Gopalan Enterprises, anticipates a revenue increase to ₹120-130 crore in FY25, up from ₹80 crore in FY24, fueled by a significant rise in domestic defence orders. C Prabhakar, the company's Director, noted that local orders now represent nearly 60% of their pipeline, a shift from the previous reliance on exports. This change is attributed to quicker procurement processes at defence public sector undertakings like Hindustan Aeronautics Ltd and a surge in emergency defence purchases. Prabhakar emphasized the company's transition from survival to aggressive investment in infrastructure and manufacturing, with a target production value of ₹300 crore by 2026. Gopalan Aerospace, which holds six patents, is also expanding internationally, planning a facility in Abu Dhabi to meet demand from the Middle East and Africa, while investing ₹75 crore to triple its manufacturing space in India.
Published: Dec 14 2025, 7 pmeznews.inIndia's newly corporatised defence public sector undertakings (DPSUs) have amassed a substantial order book of ₹83,109 crore as of April 1, according to a report by the Standing Committee on Defence. Leading the orders is Armoured Vehicle Nigam Ltd (AVNL) with ₹35,553 crore, followed by Munitions India Ltd (MIL) at ₹28,939 crore, and Advanced Weapons and Equipment India Ltd (AWEIL) at ₹8,236 crore. In contrast, Gliders India Ltd (GIL) holds a modest ₹211 crore. The report highlights the DPSUs' enhanced autonomy since the 2021 corporatisation of the Ordnance Factory Board, enabling them to explore new markets and expand their product lines. Defence exports have surged dramatically, reaching ₹1,976.51 crore in 2023-24, with projections for further growth. The committee urged continued government support for modernisation and export diversification, noting that the new DPSU framework is showing promising signs of growth and consolidation.
Published: Dec 14 2025, 7 pmeznews.inIndia is poised to significantly boost its exports to Russia, targeting a trade volume of $100 billion by 2030, with key sectors identified as engineering goods, pharmaceuticals, chemicals, and agriculture. Currently, India's exports to Russia stand at a modest $1.7 billion, compared to Russia's $37.4 billion in imports, highlighting a substantial opportunity for growth. The Indian commerce ministry has pinpointed around 300 products that align with Russia's unmet demand, particularly in agriculture, where India currently exports $452 million against a global import demand of $3.9 billion. Engineering goods show a notable gap, with India exporting just $90 million while Russia imports $2.7 billion. Additionally, pharmaceuticals represent a strategic area, with India supplying $546 million to a $9.7 billion market. Beyond these sectors, India's labor-intensive industries, including textiles and electronics, also present significant potential, given Russia's large consumer base and India's competitive pricing.
Published: Dec 14 2025, 7 pmeznews.inIn a significant update, the National Statistical Office (NSO) is set to launch a new Consumer Price Index (CPI) series with a base year of 2024, replacing the current 2012 series. This revised CPI will encompass data from over 280 markets across urban and rural areas, reflecting a substantial increase in the number of urban markets from 1,114 to 1,395 and rural markets from 1,181 to 1,465. The new series, expected to debut in the first quarter of 2024, will utilize data from popular retail outlets and e-commerce platforms, enhancing the accuracy and reliability of inflation metrics. Additionally, the NSO plans to incorporate administrative data for various sectors, including rail fares and fuel prices, while employing advanced technology such as AI and cloud-based systems for data collection and analysis. This overhaul aims to provide more granular insights into retail inflation, crucial for shaping monetary policy.
Published: Dec 14 2025, 5 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact