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India's Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, expressed confidence on Thursday that the country can secure its oil needs from alternative sources amid potential disruptions to Russian supplies due to secondary sanctions. This statement follows US President Donald Trump's warning that nations purchasing Russian oil could face penalties if a peace agreement with Ukraine is not reached within 50 days. Puri highlighted India's efforts to diversify its oil supply, noting an increase in suppliers from 27 to 40 countries, including emerging markets like Guyana and established producers such as Brazil and Canada. Despite a slight rise in Russian oil imports in the first half of the year, with private refiners Reliance Industries and Nayara Energy accounting for half of these purchases, Puri reassured that India is prepared to revert to pre-crisis supply strategies if necessary, as Russian oil currently constitutes about 35% of India's total imports. 
Published: Jul 17 2025, 2 pmeznews.inIndia's tourism sector has unveiled an ambitious plan to boost employment from 50 million to nearly 200 million jobs by 2047, as part of the Tourism Vision 2047 initiative. Announced at a national tourism conclave organized by the Federation of Associations in Indian Tourism & Hospitality (FAITH), the roadmap aims to create a $3 trillion tourism economy, attracting 100 million international visitors and 20 billion domestic trips. Key industry leaders, including Puneet Chhatwal, emphasized tourism's potential as a significant job creator and economic driver, urging policy reforms such as granting tourism infrastructure status and promoting India as a premier destination. FAITH also called for enhanced infrastructure development and sustainability measures to protect ecological integrity. Vice Chairman Ajeet Bajaj stressed the need for a collaborative approach among government, industry, and local communities to elevate tourism's contribution to India's GDP from 5% to 10% by 2047.
Published: Aug 12 2025, 9 pmeznews.inIndia's aviation safety regulator, the Directorate General of Civil Aviation (DGCA), has issued a show-cause notice to IndiGo, raising serious concerns about the training of its pilots. The DGCA's findings indicate that approximately 1,700 pilots were trained using "non-qualified" flight simulators, particularly for operations at high-risk airports such as Kozhikode, Leh, and Kathmandu, known for their challenging conditions. Inspections revealed technical and compliance deficiencies in 20 simulators located in major cities, including Delhi and Bengaluru. The notice requires IndiGo to respond within 14 days, warning that failure to do so could lead to enforcement actions affecting the airline's pilot training operations. IndiGo has acknowledged receipt of the notice and pledged to cooperate fully with the DGCA to address the issues raised.
Published: Aug 12 2025, 9 pmeznews.inThe Ministry of Petroleum & Natural Gas (MoPNG) announced on Tuesday that the introduction of E20 fuel, which consists of 20% ethanol and 80% petrol, could save India approximately $4.9 billion in foreign exchange during the current financial year ending March 2026. Responding to social media concerns regarding fuel efficiency and potential engine damage, the Ministry highlighted that ethanol blending has already saved over ₹1.44 lakh crore in foreign exchange and reduced CO2 emissions significantly over the past decade. While some vehicle owners have reported lower fuel efficiency, MoPNG countered that E20 offers better acceleration and lower emissions compared to E10 fuel. The Ministry also noted that rising ethanol prices have affected cost advantages for consumers, but emphasized the program's benefits for energy security, farmer incomes, and environmental sustainability. Overall, MoPNG maintains that E20 is a crucial step towards India's energy transition and improved vehicle performance.
Published: Aug 12 2025, 9 pmeznews.inIndian gherkin exporters are facing significant challenges following a steep tariff increase by the Trump administration, which has raised duties from 25% to 50%. As the US is the largest market for Indian gherkins, exporters are calling on the government to reimburse the duty for the next four months to mitigate the impact. Pradeep Pooviah, Vice-President of the Indian Gherkin Exporters Association, noted that exports have ground to a halt, jeopardizing thousands of small farmers engaged in contract farming across Karnataka, Tamil Nadu, Andhra Pradesh, and Telangana. With Indian gherkins accounting for approximately 60% of US imports, the industry is at risk of a crisis that could disrupt supply chains and farmer payments. Despite a record export value of $306.72 million in 2024-25, rising freight costs have made Indian gherkins less competitive against imports from Mexico and Canada.
Published: Aug 12 2025, 8 pmeznews.inIndia's net direct tax collections have experienced a year-on-year contraction of approximately 4% to ₹6.64 lakh crore between April 1 and August 11, primarily due to timing and structural factors, according to the Central Board of Direct Taxes (CBDT). This marks the third consecutive month of decline, driven by a drop in non-corporate tax collections and a 10% increase in refunds, which reached ₹1.35 lakh crore. While net corporate tax collections rose by 3% to ₹2.29 lakh crore, non-corporate tax revenues fell by 7.45% to ₹4.12 lakh crore. Experts remain optimistic about achieving the fiscal year's budget target of ₹25.20 lakh crore, projecting a growth of 12.35%. Analysts attribute the downturn to lower advance tax inflows and the extension of personal income tax return deadlines, emphasizing that tax collections are dynamic and can fluctuate throughout the fiscal year.
Published: Aug 12 2025, 8 pmeznews.inThe recent imposition of a 50 per cent tariff by the US on basmati rice is expected to shift some export dynamics, potentially leading US importers to source long-grained rice from Pakistan, which currently faces a lower tariff of 19 per cent. Basmati rice exports from India to the US have already declined from over 90,000 tonnes to approximately 78,000 tonnes between April and July 2024, with further reductions anticipated following the tariff increase. Indian exporters are now looking to China as an alternative market, especially as relations between the two countries improve. Despite the challenges, basmati rice remains a significant part of India's agricultural exports, with shipments to the US valued at $6.25 billion in 2024-25. The aromatic rice is protected under Geographical Indications by both India and Pakistan, highlighting its unique regional significance.
Published: Aug 12 2025, 8 pmeznews.inInsecticides (India) Limited (IIL) has unveiled SPARCLE, a new broad-spectrum insecticide developed in partnership with Corteva Agriscience, aimed at enhancing rice yields and quality for farmers across India. Leveraging Corteva's advanced chemistry and IIL's extensive farmer network, SPARCLE is designed to combat the brown plant hopper, a significant threat to rice crops. Rajesh Aggarwal, Managing Director of IIL, emphasized that this collaboration represents a commitment to introducing cutting-edge agricultural technologies to Indian farmers. Dushyant Sood, Chief Marketing Officer, added that SPARCLE strengthens IIL's rice crop solutions and reflects their dedication to providing innovative, science-backed products. This launch underscores the companies' shared goal of transforming Indian agriculture through effective and farmer-friendly crop protection solutions.
Published: Aug 12 2025, 6 pmeznews.inDaily food prices for the first two weeks of August indicate a moderation in vegetable price pressures, contributing to a decline in retail inflation, which fell to 1.55% in July, down from 2.10% in June, according to government data released on Tuesday. This significant drop, the lowest since June 2017, is attributed to favorable base effects and reduced inflation in various sectors, including pulses, transport, and education. HDFC Bank forecasts that August's Consumer Price Index (CPI) will remain below 2%, with an average inflation rate of 2.8% for FY26. Core inflation also softened to 4% in July, suggesting a benign inflation outlook in the near term. However, the potential for monetary easing remains limited due to medium-term inflation expectations exceeding 4%. The recent imposition of US tariffs may further influence the Reserve Bank of India's monetary policy decisions in October.
Published: Aug 12 2025, 7 pmeznews.inMaharashtra Chief Minister Devendra Fadnavis met with Singapore's Deputy Prime Minister Gan Kim Yong on Tuesday during the Leaders’ Dialogue on Green and Digital Maritime Corridors in Raigad, as Singapore seeks to enhance maritime collaboration with India, particularly in green shipping. Yong, alongside Acting Transport Minister Jeffrey Siow and other ministers, is in India for a ministerial roundtable starting Wednesday. They visited the Bharat Mumbai Container Terminal (BMCT) at JNPA port, where discussions focused on a forthcoming Memorandum of Understanding (MoU) aimed at promoting low-emission marine fuels and digital technologies. Yong highlighted the significance of BMCT, developed by Singapore's PSA, which will double its capacity to 4.8 million containers annually, making it India's largest standalone port terminal. Additionally, an MoU was signed for a ₹3,000 crore investment by Singapore's Mapletree Investments in logistics and infrastructure across Mumbai, Pune, and Nagpur, marking a significant step in bilateral relations as the two nations celebrate 60 years of diplomatic ties.
Published: Aug 12 2025, 7 pmeznews.inIndia's solar module exports have surged significantly during the FY23-FY24 period, with high-efficiency products gaining traction in international markets, particularly the US, which accounted for over 95% of India's solar exports. However, the US Department of Commerce has launched anti-dumping and countervailing duty investigations into solar PV cell and module imports from India, Indonesia, and Laos, following a petition from the Alliance for American Solar Manufacturing and Trade. The petition alleges that these countries are providing countervailable subsidies to their solar cell producers, potentially harming the US domestic industry. The investigations will cover the period from January 1 to December 31, 2024, and have identified numerous companies in the three countries as producers or exporters. This scrutiny comes amid ongoing US trade policies aimed at countering Chinese market practices and ensuring compliance with labor standards, particularly concerning imports linked to forced labor in Xinjiang.
Published: Aug 12 2025, 7 pm
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