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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.inDTDC Express Ltd is poised to significantly expand its e-commerce segment, anticipating it will constitute around 50% of its overall business in the coming years. The company recently launched its rapid commerce vertical, Raftaar, which promises deliveries within 4-6 hours, and plans to establish 125 dark stores over the next three quarters to meet growing consumer demand for faster service. CEO Abhishek Chakraborty highlighted the shift towards rapid commerce as a key growth area, with India's e-commerce market projected to exceed $80 billion, driven by digital adoption and rising consumer expectations for same-day delivery. Currently, e-commerce accounts for 16% of DTDC's business, with plans to increase this to 23-24% in the next few years. The company is investing ₹100 crore this fiscal year, focusing heavily on technology and innovation, including AI and machine learning, to enhance its service offerings and operational efficiency.
Published: Aug 31 2025, 9 pmeznews.inEighty per cent of Alliance Air's fleet has been grounded since last week due to difficulties in sourcing spare parts and servicing engines, leading to significant service disruptions. The government-owned airline operates 21 aircraft, primarily ATR models, but only four have been in operation since August 24. Supply chain issues, compounded by delayed payments to original equipment manufacturers and maintenance providers, have exacerbated the situation. The airline reported losses of ₹1,633 crore from FY 22 to FY 24, with an additional ₹535.45 crore loss in the first ten months of FY 25. Despite these challenges, an Alliance Air executive stated that discussions with ATR are ongoing to improve fleet operations by September, and the government is providing financial support. However, the airline's dwindling fleet, which is crucial for regional connectivity under the Udan scheme, raises concerns about future revenue and operational sustainability.
Published: Aug 31 2025, 8 pmeznews.inThe Indian Beverage Association (IBA) has called on the GST Council to reclassify aerated beverages as "food/merit" goods, proposing a reduction in the Goods and Services Tax (GST) from the current 40% to 18%. This reclassification would align aerated drinks with less heavily taxed items, as they are currently categorized alongside tobacco products, despite lacking similar public health concerns. The IBA argues that lowering the tax rate would enhance affordability, stimulate demand, and foster growth in the consumption economy, benefiting both consumers and retailers. The non-alcoholic beverage sector has already invested ₹50,000 crore and plans an additional ₹85,000 crore, reinforcing its commitment to the 'Make in India' initiative. The industry supports approximately 700,000 jobs, particularly in rural areas, and a rationalized tax structure could lead to further job creation and economic benefits.
Published: Aug 31 2025, 8 pmeznews.inThe Commerce Department has unveiled a comprehensive three-tiered action plan to mitigate the impact of recent tariff escalations by the US, which have significantly affected Indian exporters. Following the Trump administration's imposition of reciprocal tariffs, which rose to 50% on August 27, the plan aims to provide immediate liquidity and compliance relief, particularly for vulnerable sectors and Special Economic Zones (SEZs). Key measures include enhancing market access, branding initiatives, and support for export compliance and logistics. The Export Promotion Mission will facilitate short-term assistance through trade finance options, while medium-term strategies will focus on leveraging existing Free Trade Agreements (FTAs) and improving competitiveness through GST reforms. Long-term goals include establishing a resilient and diversified export base, supported by ongoing reforms and initiatives to strengthen supply chains. The plan is currently under review by the Expenditure Finance Committee.
Published: Aug 31 2025, 7 pmeznews.inMizoram is set to achieve a significant milestone in its infrastructure development with the upcoming inauguration of the 51.38 km Bairabi-Sairang New Railway Line Project, expected to be officially opened by Prime Minister Narendra Modi in mid-September. This ₹5,021 crore project will connect Sairang, located 15 km from Aizawl, to Bairabi, just before the Assam border, enhancing rail connectivity for the state. Previously reliant on road transport, residents will now have easier access to other northeastern states and beyond, with the railway line linking to Silchar in Assam. The project, which includes 48 tunnels and 55 major bridges, is anticipated to benefit students, patients, and businesses, while also boosting tourism. Mizoram will become the fourth northeastern state with its capital connected to the national railway network, following Assam, Tripura, and Arunachal Pradesh, as part of a broader goal to link all northeastern states by 2030.
Published: Aug 31 2025, 6 pmeznews.inA recent ruling by the West Bengal Authority for Advance Ruling (WBAAR) has significant implications for hotels regarding Goods and Services Tax (GST) treatment. If a hotel charges more than ₹7,500 for accommodation, including food, it must apply an 18% GST rate for restaurant services provided to walk-in guests, even if this higher rate is only applicable to a limited number of rooms. This ruling is particularly relevant for hotels employing dynamic pricing strategies during peak seasons. The WBAAR clarified that the ₹7,500 threshold encompasses both room and food charges, and even a single instance of exceeding this amount in a financial year will classify the hotel as a "specified premise" for the following year, subjecting it to a higher GST rate of 18%. Experts emphasize that this interpretation eliminates any ambiguity regarding invoicing practices, reinforcing the need for hotels to carefully manage their pricing strategies.
Published: Aug 31 2025, 6 pmeznews.inIn August, India experienced a 5% increase in rainfall compared to normal levels, marking the seventh highest total since 2001, according to the India Meteorological Department (IMD). The heavy rains, particularly in Punjab, Maharashtra, Rajasthan, and Karnataka during the latter half of the month, have raised concerns about potential crop damage, with predictions of "above normal" rainfall for September. IMD's director general, M. Mohapatra, noted that September's rainfall is expected to exceed 109% of the long-period average, with risks of landslides and flash floods in Uttarakhand. The second half of August saw a 33% surplus in rainfall, with Punjab reporting a staggering 202% increase. Crop damage has been reported across 2.5 lakh hectares in Punjab and 8 lakh hectares in Maharashtra, with significant losses anticipated in Rajasthan. The monsoon season, which has been 6% above average overall, is not expected to withdraw for at least two weeks.
Published: Aug 31 2025, 6 pmeznews.inThe Indian Finance Ministry, led by Finance Minister Nirmala Sitharaman, is considering significant amendments to the Indian Insurance Companies (Foreign Investment) Rules, 2015, which could pave the way for 100% foreign direct investment (FDI) in the insurance sector. Currently, FDI is capped at 74%, but the proposed changes aim to eliminate the requirement for a majority of directors and key managerial positions to be held by Indian residents, retaining only the stipulation for at least one resident Indian in top leadership roles. Legal experts suggest that these reforms will streamline regulations, reduce compliance burdens, and enhance foreign participation in the Indian insurance market. The draft also proposes to update references to outdated regulations, aligning them with the Foreign Exchange Management (Non-Debt Instrument) Rules, 2019. This move is seen as a step towards modernizing the legal framework and increasing insurance penetration in India.
Published: Aug 31 2025, 5 pmeznews.inThe Cotton Corporation of India (CCI) is set to implement a bulk quantity discount scheme starting September 1, aimed at reducing its stock of over 27 lakh bales ahead of the new harvest season. The initiative offers a ₹400 discount per candy (356 kg) for buyers, including KVIC Units and co-operative spinning mills, purchasing between 2,500 and 4,999 bales daily, with a higher discount of ₹600 for larger orders. This scheme, valid from September 1-15, 2025, follows the government's recent removal of an 11% import duty on cotton, which is expected to increase imports to a record 40 lakh bales for the season ending September 2025. CCI has already reduced its prices by ₹1,700 per candy since August 19 to remain competitive. However, farmers have expressed concerns that the duty removal could negatively impact their earnings, as cotton acreage has decreased compared to last year.
Published: Aug 31 2025, 4 pmeznews.inIn the financial year 2024-25, Mehsana in Gujarat exported spice seeds worth ₹3,995 crore, with cumin, isabgol, and fennel seeds leading the shipments. Notably, 25% of these exports were sent to China, followed by 16% to Bangladesh, and 10% to the UAE. The Unjha Agricultural Produce Market Committee (APMC), a major trading hub for spice seeds, reported a 17.5% increase in cumin arrivals, totaling 54,410 tonnes between February 15 and April 10, 2025. Despite a significant growth of over 42% in exports from ₹2,904 crore in 2022-23 to ₹4,127 crore in 2023-24, there was a slight decline of 3% in 2024-25, attributed to adverse weather affecting cumin production. The state government anticipates that favorable monsoon conditions will enhance sowing areas for spices in the upcoming season.
Published: Aug 31 2025, 4 pm
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