eznews.in
The newly launched Employment Linked Incentive (ELI) scheme aims to tackle a concerning 45% attrition rate among first-time employees within their first six months, as highlighted by a senior government official. This high turnover not only hampers job training but also complicates re-employment opportunities for freshers. The ELI, announced in the Union Budget 2024-25 and approved by the Union Cabinet, features two components: Part A incentivizes first-time employees with a one-month EPF wage of up to ₹15,000, while Part B offers employers up to ₹3,000 per month for each additional employee retained for at least six months. The scheme, with a total outlay of ₹1 lakh crore, aims to bridge the significant skilling gap between India and developed nations, where formal vocational training rates are substantially higher. The initiative is expected to benefit approximately 1.92 crore first-time employees and create around 2.60 crore new jobs. 
Published: Jul 06 2025, 1 pmeznews.inAustralia's A$4.1 trillion pension industry is shifting its investment strategies, with major funds expressing concerns over high US stock valuations and increased volatility linked to former President Donald Trump's policies. AustralianSuper, the largest pension fund, has reduced its exposure to US equities while remaining optimistic about infrastructure investments. Colonial First State is diversifying into emerging markets and private equity, citing attractive valuations in Chinese stocks. Other funds, like Australian Retirement Trust and Aware Super, are cautious about US investments, focusing instead on real assets and strategic allocations in Europe. Meanwhile, HESTA is exploring opportunities in US and European property markets, while Legalsuper maintains its US equity position but is wary of the dollar's strength. Overall, Australian pension funds are increasingly looking beyond the US to mitigate risks and capitalize on emerging market potential.
Published: Jul 08 2025, 9 ameznews.inThe United States has extended the suspension of reciprocal tariffs, initially set to take effect on July 9, until August 1, 2025, providing crucial relief to Indian exporters amid ongoing trade negotiations. This decision comes as India seeks to finalize an interim trade deal with the US, which has been its largest trading partner since 2021-22. Notably, India was not included in the recent list of countries receiving tariff letters from the Trump administration, which targets several nations with new tariffs starting August 1. Exporters in India view this extension as a positive sign, allowing additional time for dialogue to resolve outstanding issues. With bilateral trade reaching USD 131.84 billion in 2024-25, stakeholders remain hopeful that a bilateral trade agreement can be concluded by fall 2025, although some caution that the short suspension period may necessitate exploring new markets.
Published: Jul 08 2025, 10 ameznews.inThe Delhi High Court has dismissed a plea from ground handling firm Celebi, which contested the revocation of its security clearance by the Bureau of Civil Aviation Security (BCAS) due to national security concerns. Celebi claimed its license was cancelled without prior notice or adequate reasoning. However, the court ruled that national security considerations can supersede the principles of natural justice, emphasizing that the security of the nation is paramount. The BCAS revoked Celebi's clearance on May 15, shortly after Turkey expressed support for Pakistan and criticized India's military actions. The court highlighted the critical nature of ground handling services, which provide extensive access to sensitive airport operations, necessitating rigorous security vetting, especially for foreign-affiliated operators. This ruling may set a precedent for similar cases, including a pending appeal from another Celebi subsidiary.
Published: Jul 07 2025, 8 pmeznews.inIn the past 15 years, the Chennai Port Authority (ChPA) has generated nearly ₹500 crore from Hyundai Motor India Ltd (HMIL), a key client for car exports. This revenue, derived from vessel and cargo-related charges, underscores a long-standing partnership that began with a strategic MoU 25 years ago. HMIL has exported over 3.7 million vehicles to more than 150 countries, currently serving over 60 markets with nine tailored models, including the CRETA and the newly launched CRETA Electric. The company exported 163,386 units in FY 2024-2025, with Saudi Arabia, South Africa, Mexico, Chile, and Peru as its top markets. S. Kirupanandasamy, Traffic Manager at ChPA, noted that Hyundai benefits from a dedicated facility at the port, capable of holding over 4,000 vehicles. Looking ahead, HMIL's Managing Director, Unsoo Kim, projects a 7-8% growth in export volumes for FY26, driven by strong demand in emerging markets.
Published: Jul 08 2025, 7 ameznews.inJSW Infrastructure has secured a significant contract from the Syama Prasad Mookerjee Port Authority to reconstruct Berth 8 and mechanise Berths 7 and 8 at the Netaji Subhas Dock in Kolkata. This ambitious project, which is expected to enhance the port's container handling capacity, comes with a 30-year concession period and an estimated capital expenditure of ₹740 crore. The construction is set to take two years and will be executed under a design, build, finance, operate, and transfer (DBFOT) model as part of a public-private partnership (PPP). The initiative reflects ongoing efforts to modernise port infrastructure and improve operational efficiency in one of India's key maritime hubs.
Published: Jul 07 2025, 8 pmeznews.inIn a recent report presented to Tamil Nadu Chief Minister MK Stalin, the State Planning Commission (SPC) outlined a transformative approach to the restoration of post-mining landscapes, which have historically been deemed unproductive. The study identifies five key restoration objectives: enhancing biodiversity, ensuring water security, promoting agroforestry, creating recreational spaces, and facilitating solar power generation. By leveraging geospatial information, the report highlights the potential of 5,052 abandoned or underutilized mines across the state for ecological revitalization. It emphasizes the need for thoughtful planning and collaboration among stakeholders to achieve regional sustainability goals. The report also critiques past restoration efforts, which often involved costly and ineffective methods, and advocates for the use of native species and innovative land-use strategies to create ecological hotspots and support local communities. This initiative marks a significant shift towards viewing post-mining sites as valuable assets for ecological and economic development.
Published: Jul 07 2025, 8 pmeznews.inMalpractices in India's steel import sector have come to light, with traders circumventing Bureau of Indian Standards (BIS) quality norms to import substandard steel from countries like China and Vietnam. The Steel Ministry's increased scrutiny revealed that smaller importers were falsifying documents to apply for "new grades" and evade mandatory quality checks. In response, the Ministry has halted the clearance of suspect shipments, including some from Japan, and is tightening regulations. A recent report indicated that 1,136 import applications were for steel grades not recognized by BIS, often involving minor alterations to chemical compositions. The Ministry has mandated that all non-BIS-compliant steel imports receive prior approval, particularly targeting Chinese-origin products entering through Vietnam. While the government has granted a 15-20 day relaxation period for select shipments, concerns remain that limiting imports could lead to domestic monopolies manipulating prices.
Published: Jul 07 2025, 8 pmeznews.inAs of July 4, 2023, India's paddy coverage has increased to 69.3 lakh hectares (lh), up from 64.52 lh last year, reflecting a 7.4% rise. Overall, kharif sowing has reached 40% of the normal 1,097 lh area, with 437.43 lh planted across various crops, marking an 11.1% increase from 393.77 lh in 2022. Notably, pulses acreage surged by 35.2% to 42.57 lh, with urad and moong showing gains, although arhar fell by 11.1%. Oilseeds have also seen improvement, rising to 108.21 lh from 94.9 lh, while nutri/coarse cereals increased by 21% to 77.18 lh. The monsoon has been favourable, with rainfall 31% above normal, aiding sowing efforts. Experts highlight a growing interest in sustainable agricultural practices as farmers focus on soil health and crop resilience amid positive monsoon conditions.
Published: Jul 07 2025, 8 pmeznews.inThe Food Safety and Standards Authority of India (FSSAI) has approved six new manufacturing units for recycled polyethylene terephthalate (r-PET), boosting the total authorized capacity to 150,000 metric tonnes per annum. This move, announced by the Association of PET Recyclers (APR) Bharat, aims to meet the growing demand for food-contact packaging from beverage manufacturers, who are required to use 30% recycled content in their PET bottles. Prior to this, only five out of 20 r-PET units had received FSSAI certification. The APR Bharat had previously warned that delays in approvals could jeopardize the financial viability of many companies in the sector. With an estimated investment of ₹7,500-8,000 crore, the industry has established a total capacity of around 400,000 metric tonnes for r-PET production. The FSSAI has committed to expediting further authorizations to support the industry’s growth.
Published: Jul 07 2025, 7 pmeznews.inRamco Systems, based in Chennai, is strategically targeting the burgeoning eVTOL (electric vertical take-off and landing) and Unmanned Aerial Vehicle (UAV) markets, according to CEO Sam Jacob. The company's Aviation ERP system supports clients throughout the eVTOL lifecycle, encompassing manufacturing, supply chain, maintenance, and flight operations. eVTOLs, designed for urban air taxi services, are still in their infancy, with fewer than 1,000 currently in operation globally. However, significant orders are emerging, particularly in West Asia and the US, where demand could reach between 5,000 and 10,000 units. Ramco, which began focusing on aviation in the early 2000s, sees eVTOL as a key growth area, with the market projected to expand from ₹76 crore in 2024 to ₹1,734 crore by 2035. The UAV market is also set for substantial growth, expected to rise from ₹3,720 crore in 2024 to ₹15,721 crore by 2030.
Published: Jul 07 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