eznews.in
The International Air Transport Association (IATA) announced on Monday that global airlines are projected to achieve a profit of $36 billion in 2025, a slight increase from the $32.4 billion reported in 2024. Speaking at IATA's Annual General Meeting in New Delhi, the first in India in 42 years, Director General Willie Walsh emphasized the need to keep airspace free from trade conflicts. He highlighted ongoing supply chain challenges, noting a backlog of 17,000 aircraft and 1,100 planes under ten years old currently in storage. While the anticipated profit is significant, Walsh cautioned that it translates to just $7.20 per passenger per segment, leaving the industry vulnerable to new taxes or regulatory costs. IATA forecasts airline revenues will reach a record $979 billion in 2025. The Indian aviation sector directly employs nearly 370,000 people and contributes $5.6 billion to GDP, with broader impacts raising employment to 7.7 million and GDP to $53.6 billion. The next AGM is set for Brazil in 2026. 
Published: Jun 02 2025, 10 ameznews.inUnion Minister of Commerce and Industry Piyush Goyal is set to lead a delegation to the United States on September 22, 2025, to advance trade discussions aimed at finalizing a mutually beneficial trade agreement. This visit follows a recent trip by US negotiators to India and comes amid heightened tensions, particularly after President Donald Trump raised the H-1B visa fee from approximately $1,000 to $100,000, impacting the IT sector significantly. The negotiations had previously stalled due to the US imposing a 50% tariff on most Indian goods, including a 25% penalty related to India's purchase of Russian oil. Despite these challenges, both nations are keen to resume talks, with a goal to conclude the first phase of the trade agreement by the end of November. However, ongoing issues, particularly concerning agriculture and the imposed tariffs, continue to complicate the discussions.
Published: Sep 20 2025, 9 pmeznews.inAs of July 1, 2025, the Shipping Corporation of India Ltd (SCI) operates a diverse fleet of 57 vessels, which includes 18 crude oil tankers, 15 bulk carriers, and various other types of ships. In a strategic move to bolster India's energy security, SCI has signed a Memorandum of Understanding with three state-owned refiners—Bharat Petroleum Corporation Ltd, Hindustan Petroleum Corporation Ltd, and Indian Oil Corporation Ltd. This collaboration aims to jointly acquire, operate, and manage crude oil tankers for both international trade and coastal transport of petroleum and related products. The initiative aligns with the Indian government's vision of Atmanirbhar Bharat, enhancing the nation's shipping capacity and energy independence. SCI's clientele includes major public sector units and international oil companies, reflecting its significant role in the global shipping market.
Published: Sep 20 2025, 9 pmeznews.inAir India has emerged as the largest airline operating on the India-US route, followed by Emirates and Qatar Airways, amidst a challenging landscape for the aviation sector. In fiscal year 2025, over 7 million passengers traveled between India and the US, predominantly via one-stop flights through West Asian or European hubs. However, the tightening of H-1B visa regulations by the Trump administration, including a new $100,000 fee, has led to a decline in demand, impacting Indian tourist arrivals and student movements to the US and Canada. March and June 2025 saw decreases of 3.6% and 8% in Indian tourist arrivals, respectively. Despite this, some travel firms reported a surge in last-minute bookings following the visa fee announcement, indicating a potential shift in travel patterns. Air India's operations have also been affected by the closure of Pakistan's airspace, necessitating longer flight routes.
Published: Sep 20 2025, 9 pmeznews.inIndia's logistics costs, previously estimated at 13-14% of GDP based on external studies, have been re-evaluated by the government, revealing a more accurate figure of approximately 7.97%. This shift follows the National Logistics Policy's mandate for a uniform framework to scientifically assess logistics costs, utilizing a hybrid methodology that combines secondary data with nationwide surveys. The Commerce and Industry Ministry emphasized that this comprehensive framework captures logistics costs across various transport modes and product categories, enhancing India's competitiveness as a global logistics hub. Additionally, Commerce and Industry Minister Piyush Goyal launched the Industrial Park Rating System (IPRS) 3.0, aimed at improving the industrial ecosystem by categorizing parks based on performance. This initiative, supported by the Asian Development Bank, will provide investors with transparent information and foster competition among states, ultimately guiding policymakers in targeted interventions.
Published: Sep 20 2025, 9 pmeznews.inThe Department of Consumer Affairs (DoCA) has announced enhancements to the National Consumer Helpline (NCH) in preparation for the new Goods and Services Tax (GST) regime, which takes effect on September 22. A training session conducted by officials from the Central Board of Indirect Taxes & Customs (CBIC) aimed to equip NCH counsellors to effectively manage GST-related queries and grievances. The NCH will now feature a dedicated category on the Integrated Grievance Redressal Mechanism (INGRAM) portal, allowing consumers to register complaints across various sectors, including automobiles and e-commerce. DoCA has urged companies to ensure that consumers benefit from GST rate reductions. With the ability to lodge complaints in 17 languages via toll-free number 1915, the NCH has evolved into a comprehensive ecosystem, collaborating with over 1,142 partners and witnessing a significant increase in monthly complaints from 37,062 in 2017 to an expected 1,70,585 in 2025.
Published: Sep 20 2025, 7 pmeznews.inThe Tamil Nadu government has signed two significant Memorandums of Understanding (MoUs) with Cochin Shipyard and Mazagon Dock Shipbuilders to establish greenfield commercial shipyards in the state, marking a pivotal development for India's shipbuilding industry, which currently holds less than 1% of the global market share, according to S&P Global Commodity Insights. The projects, with a combined investment of ₹30,000 crore, are expected to create approximately 55,000 jobs, with Cochin Shipyard contributing ₹15,000 crore to generate over 10,000 jobs and Mazagon Dock investing an equal amount to create more than 45,000 jobs. TRB Rajaa, Tamil Nadu's Minister for Industries, emphasized that these facilities will enhance India's maritime infrastructure and technological capabilities, positioning Tamil Nadu as a global hub for shipbuilding and maritime innovation, while also bolstering national security and economic growth.
Published: Sep 20 2025, 5 pmeznews.inIn a significant advancement for India's maritime industry, Garden Reach Shipbuilders & Engineers (GRSE) Ltd has secured a $62.44 million contract with Germany's Carsten Rehder Schiffsmakler und Reederei GmbH & Co. KG to build four Hybrid Multi-Purpose Vessels (MPVs). The agreement, signed in Hamburg, builds on their existing collaboration, which began with the construction of a 7,500 DWT MPV at GRSE's Kolkata facility. The new vessels will feature battery-assisted hybrid propulsion, enhancing fuel efficiency and cargo versatility, while adhering to International Maritime Organization decarbonisation targets. Each vessel will measure 120 metres in length and can carry 7,500 metric tonnes of cargo, including large wind turbine blades, catering to the renewable energy sector's logistics needs. This contract marks a pivotal moment for GRSE, showcasing India's growing capabilities in eco-friendly shipbuilding and strengthening its position in the global maritime market.
Published: Sep 20 2025, 5 pmeznews.inThe rise of new-generation tea companies in China presents a promising model for tea producers worldwide grappling with persistent supply and demand imbalances. Speaking at the India International Tea Convention in Kochi, tea expert Kurush Bharucha highlighted that China's tea production has surged from 2 billion kg in 2014 to nearly 4 billion kg in 2024, with innovative brands contributing 400-500 million kg to this growth. He noted that Gen Z consumers are reshaping the market by prioritizing social values and emotional experiences, prompting brands to blend traditional tea with diverse ingredients like milk, fruit, and syrups. Bharucha emphasized that innovation is crucial for enhancing tea's value, as global supply consistently exceeds demand, leading to a bearish market sentiment. Additionally, Sharon Hall from the UK Tea and Infusions Association underscored the importance of meeting stringent EU quality standards and the rising demand for organic tea.
Published: Sep 20 2025, 5 pmeznews.inThe Woodbriar Group has emerged as a standout winner at the Golden Leaf India Awards (TGLIA), clinching eight prestigious accolades in the Southern Tea Competition, organized by UPASI in collaboration with the Tea Board of India. Parry Agro Industries Ltd followed closely with seven awards, while Kanan Devan Hills Plantations Co Pvt Ltd secured six. Other notable winners included Harrisons Malayalam Ltd SBU-A with five awards, and several companies, including Harrisons Malayalam Ltd SBU: B, Green T Estate, and Kodanad Estate, each receiving three. The competition, which has been a significant platform for showcasing South India's quality teas for over two decades, held its initial screening on March 7-8 in Coimbatore, with the final tasting by an international jury on September 18 at the Grand Hyatt Kochi Bolgatty. The results were announced during the valedictory session of the India International Tea Convention 2025, with awards presented by Kerala Industries Minister P Rajeev.
Published: Sep 20 2025, 5 pmeznews.inIndia's oilmeal exports experienced a significant decline in August 2025, with shipments dropping by 12.1% to 2.76 lakh tonnes compared to 3.14 lakh tonnes in August 2024, primarily due to a sharp decrease in soybean meal exports. The Solvent Extractors’ Association of India (SEA) reported that soybean meal exports fell to 80,233 tonnes from 1.56 lakh tonnes the previous year, contributing to an overall decline in oilmeal exports to 17.93 lakh tonnes during April-August 2025-26, down 4% year-on-year. Executive Director BV Mehta attributed this downturn to competitive pricing from American soybean meal and a shift in market preference towards distillers dried grains with solubles (DDGS). Conversely, rapeseed meal exports rose by 3.5% to 9.15 lakh tonnes, driven by strong domestic demand and increased exports to China. Additionally, the SEA urged the government to lift a ban on de-oiled rice bran exports, which has been in place since July 2023, to alleviate surplus issues.
Published: Sep 20 2025, 3 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact