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In FY25, exports from Special Economic Zone (SEZ) units to the US were estimated at $15.2 billion, primarily comprising pharmaceuticals, petroleum products, gems and jewellery, engineering goods, chemicals, electronics, and garments. Amid ongoing negotiations for a bilateral trade agreement, the US has imposed significant tariffs on Indian imports, prompting India's Commerce Department to seek policy flexibilities for SEZ units to enhance domestic market participation. While discussions are underway, the Finance Ministry has yet to approve these changes, which include liberalising rules on domestic tariff area (DTA) sales. The urgency for these amendments has increased due to the US's 50% tariffs, which are impacting SEZ operations. The Commerce Department argues that allowing SEZ units to sell domestically without customs duties could boost competitiveness and local demand, benefiting both SEZ and DTA units. The Finance Ministry remains cautious about potential advantages for SEZs over local producers. 
Published: Oct 02 2025, 8 pmeznews.inIndiGo is set to resume passenger flights between India and China starting October 26, with daily services from Delhi and Kolkata to Guangzhou, utilizing its Airbus A320Neo aircraft. While the Kolkata route will commence as scheduled, the Delhi flight's timetable is yet to be confirmed. China Eastern Airlines is expected to be the first Chinese carrier to re-establish flights, offering a daily service between Shanghai and Delhi, pending a schedule announcement. The resumption follows discussions between civil aviation authorities of both nations, leading to a revised air service agreement that allows direct flights to resume by late October 2025, contingent on airlines' commercial decisions and operational criteria. IndiGo's CEO, Pieter Elbers, expressed pride in restoring connectivity, which is anticipated to enhance bilateral relations and facilitate the movement of people and goods. In fiscal 2025, over half a million passengers traveled between the two countries, with many currently transiting through hubs like Hong Kong and Singapore.
Published: Oct 02 2025, 8 pmeznews.inThe Department of Consumer Affairs reported on Thursday that the National Consumer Helpline (NCH) has received 3,981 GST-related queries and grievances, with 69% classified as complaints. These issues have been escalated to relevant brand owners and e-commerce platforms for prompt resolution, while 1,992 grievances have been forwarded to the Central Board of Indirect Taxes and Customs (CBIC). The Central Consumer Protection Authority (CCPA) is reviewing these complaints for potential class action, particularly addressing widespread confusion over GST reductions on various commodities, including milk, which is exempt from GST. Electronic goods sold online also generated significant complaints. The CCPA is committed to monitoring these issues closely and will take action against companies found to be misleading consumers or failing to pass on tax benefits. Consumer awareness campaigns are planned to clarify GST changes, and consultations with industry associations are ongoing to ensure compliance with reduced GST rates.
Published: Oct 02 2025, 9 pmeznews.inIndia's Commission for Agricultural Costs and Prices (CACP) has proposed a phased increase in urea prices to address the imbalanced use of nutrients in agriculture. In its report for the Rabi marketing season 2026-27, the CACP highlighted that while domestic urea production has risen significantly, reducing reliance on imports, the current subsidy structure has led to excessive urea consumption, distorting the nitrogen-phosphorus-potassium (NPK) ratio. The CACP noted that some regions, particularly in Andhra Pradesh and Tamil Nadu, are using over 500 kg of urea per hectare, which poses risks to crop yield and soil health. To counteract this, the Commission suggests reallocating subsidy savings from urea price increases to enhance subsidies for phosphorus and potassium fertilizers. Additionally, it calls for a nationwide campaign to promote balanced fertilizer use and improve soil health through better testing and training for farmers.
Published: Oct 02 2025, 8 pmeznews.inIn a proactive measure to protect public health during the festive season, the Food Safety and Standards Authority of India (FSSAI) has instructed state food safety commissioners to enhance surveillance on milk and milk-based products, which see a surge in demand during this period. The FSSAI emphasized the need for special surveillance drives in identified hotspots and sensitive locations, mandating food safety officers to report inspection and sampling outcomes by November 15. The authority highlighted that the increased demand for sweets and dairy products often leads to economic incentives for adulteration, posing risks to consumer safety. Additionally, the FSSAI has recently called for nationwide surveillance of spice manufacturing units, requiring states to test various spices for quality and compliance with safety standards, with data submissions due by November 20. This initiative aims to bolster consumer trust and ensure food safety during a critical time of year.
Published: Oct 02 2025, 8 pmeznews.inTrade negotiators from India and the ASEAN bloc are set to convene in Jakarta starting Monday to advance the review of their Goods Trade Agreement, according to an official statement. While progress has been made in the review process, it remains incomplete ahead of the 22nd ASEAN-India Summit on October 27 in Kuala Lumpur, where leaders will be updated on developments. The review, which has been a long-standing request from the Indian industry, aims to address trade imbalances and enhance sustainability. The joint committee overseeing the review includes eight sub-committees focusing on various issues, including customs procedures and trade facilitation, legal matters, and market access. The original trade agreement was signed in 2009 and came into effect in January 2010, with a complete review expected by 2025. ASEAN is a key trade partner for India, accounting for approximately 11% of its global trade, with bilateral trade reaching USD 123 billion in 2024-25.
Published: Oct 02 2025, 8 pmeznews.inBrokers have reported a surge in speculative real estate activity in areas surrounding Sarjapur, Bagalur, Hosur, and Attibele following the confirmation of a greenfield airport site in Tamil Nadu, strategically located between Berigai and Bagalur. This project, just 8 km from Attibele and along the STRR corridor, is anticipated to drive significant growth in real estate, logistics, and residential demand, capitalizing on Hosur's established EV and electronics manufacturing base. Current land prices in the region range from ₹1,500 to ₹3,500 per sq. ft., with projections of a 25-40% increase over the next few years. Experts suggest that while speculative interest is high, sustained growth will depend on government support and infrastructure development. As Hosur positions itself as a logistics hub, it may attract mid-income residents seeking larger homes away from Bengaluru's congestion, alongside potential growth in warehousing, hospitality, and commercial spaces.
Published: Oct 02 2025, 5 pmeznews.inA depression over the north-east Arabian Sea and a deep depression in the north-west Bay of Bengal have intensified the south-west monsoon, extending its presence into October. While the deep depression is expected to weaken after crossing the Odisha-Andhra Pradesh coast, a new low-pressure area is anticipated to form over the Head Bay by October 10, potentially linked to a storm from Vietnam. The India Meteorological Department (IMD) forecasts heavy rainfall across various regions, including south Chhattisgarh, Odisha, and north coastal Andhra Pradesh, with isolated extremely heavy rainfall expected in east Uttar Pradesh. Additionally, a strong western disturbance is set to interact with monsoon easterlies, leading to further precipitation in North-West India. Overall, the week from October 2 to 9 is likely to see above-normal rainfall in East and North-East India, while conditions may become favorable for the monsoon's withdrawal from parts of Gujarat, Madhya Pradesh, and Uttar Pradesh.
Published: Oct 02 2025, 7 pmeznews.inDirect air services between India and China are set to resume by late October, according to the Ministry of External Affairs (MEA). The announcement comes after a suspension that began in 2020 due to the Covid-19 pandemic and was further complicated by ongoing tensions over the eastern Ladakh border. The resumption of flights will depend on the commercial decisions made by designated carriers from both nations and the fulfillment of operational criteria. Since the beginning of this year, civil aviation authorities from India and China have been engaged in technical discussions regarding the revival of these services and a revised air services agreement. This development marks a significant step towards restoring connectivity between the two countries, which has been limited for several years.
Published: Oct 02 2025, 7 pmeznews.inThe Finance Ministry has responded to allegations from Chennai-based Wintrack Inc., which announced it would halt its import/export operations in India due to what it described as "relentless harassment" by Chennai Customs. In a social media post, the Ministry stated that the Revenue Department will conduct a fair and transparent inquiry into the matter, with a senior officer assigned to investigate the claims. Wintrack's founder, Prawin Ganeshan, accused customs officials of retaliating against the company after it exposed bribery practices, leading to operational disruptions. The Central Board of Indirect Taxes & Customs (CBIC) countered that the issues stemmed from misdeclaration and misclassification by the importer. The Ministry emphasized its commitment to enhancing transparency and ease of doing business, highlighting recent taxpayer-friendly initiatives and assuring that the situation will be addressed with seriousness and expedience.
Published: Oct 02 2025, 6 pm
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