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India's Commerce Secretary Rajesh Agrawal expressed optimism about finalizing a framework trade deal with the US by year-end, contingent on resolving key political issues. Speaking at a FICCI event, Agrawal highlighted that while negotiators are close to agreement, non-negotiable areas for India, particularly regarding agriculture and dairy market access, remain contentious. The US demands clarity on India's oil purchases from Russia, which have decreased but continue despite US sanctions. Agrawal emphasized that a meaningful deal requires addressing both the 25% trade tariff and an additional 25% penalty related to geopolitical factors. He noted that a comprehensive bilateral trade agreement (BTA) would follow the framework deal, involving complex negotiations to eliminate reciprocal tariffs. Ongoing discussions are taking place weekly, with potential for in-person meetings now that US lockdowns have ended. 
Published: Nov 28 2025, 7 pmeznews.inIndia's economy has shown robust growth, with the Gross Domestic Product (GDP) expanding by 8.2% in the second quarter, surpassing expectations and marking a six-quarter high. Chief Economic Advisor V Anantha Nageswaran expressed optimism that the economy could achieve a growth rate of 7% or higher for the current financial year, following an 8% growth in the first half. The Economic Survey had previously projected a growth range of 6.3-6.8% for FY26. Nageswaran noted that the economy is on track to surpass $4 trillion, up from $3.9 trillion at the end of March. The growth was driven by increased factory production in anticipation of a consumption boost from GST rate cuts, despite a slowdown in agricultural output. The services sector also contributed significantly, achieving double-digit growth, while both rural and urban demand are showing resilience and improvement.
Published: Nov 28 2025, 7 pmeznews.inD K Sunil, Chairman and Managing Director of Hindustan Aeronautics Limited (HAL), has defended the safety of the Tejas light combat aircraft following a tragic crash at the Dubai Airshow that resulted in the death of Wing Commander Namansh Syal. Speaking at ANI's National Security Summit, Sunil described the incident as "unfortunate" but emphasized that the Tejas is "absolutely safe" and boasts the best safety record globally. He highlighted India's achievement in developing a 4.5 generation aircraft with advanced capabilities, asserting that the crash would not affect the aircraft's future. Sunil also noted HAL's commitment to expanding its export capabilities, aligning with the Indian government's goal of establishing a global presence in defense manufacturing. The Dubai incident marks the second crash involving the Tejas since its induction into the Indian Air Force a decade ago, with the previous incident occurring in March 2024, where the pilot ejected safely.
Published: Nov 28 2025, 7 pmeznews.inIndia is set to launch the bidding process for its Rare Earth Permanent Magnets (REPM) Scheme around February 2026, as part of a broader initiative to boost domestic manufacturing of critical minerals and reduce reliance on imports, particularly from China. The government plans to issue a notification for the scheme by December 15, with technical details and the bidding process expected to take an additional 2-3 months. Approximately 15 companies have expressed interest, with a shortlist of five expected within six months. The ₹6,450-crore incentive scheme will be distributed over five years, starting in FY2028-29, promoting end-to-end value-chain development in magnet production. Additionally, the government aims to revive State-owned IREL (India) Ltd, increasing its output from 500 to 1,600-2,000 metric tonnes annually. States are also preparing to support prospective bidders with land and infrastructure as discussions on logistics and regulatory approvals continue.
Published: Nov 28 2025, 7 pmeznews.inIndia's economy has outperformed expectations, growing by 8.2% in the July-September quarter of fiscal year 2025-26, according to the Statistics Ministry. This marks an increase from 7.8% in the previous quarter and a significant rise from 5.6% in the same period last year. The nominal GDP also saw a robust growth of 8.7%. Key sectors contributing to this growth include manufacturing, which expanded by 9.1%, and the tertiary sector, which grew by 9.2%. Notably, the financial, real estate, and professional services sectors surged by 10.2%. However, agriculture and utility services experienced slower growth rates of 3.5% and 4.4%, respectively. Real Private Final Consumption Expenditure (PFCE) rose by 7.9%, up from 6.4% a year earlier. Overall, the first half of FY 2025-26 recorded an 8% growth, compared to 6.1% in the same period last year, amid ongoing global trade uncertainties.
Published: Nov 28 2025, 4 pmeznews.inIndia's fiscal deficit for the period of April to October reached ₹8.25 lakh crore, accounting for 52.6% of the total estimated deficit for the financial year ending March 31, according to government data released on Friday. Net tax receipts fell to ₹12.74 lakh crore, down from ₹13.05 lakh crore during the same period last year, while non-tax revenue increased to ₹4.89 lakh crore, up from ₹4 lakh crore a year earlier. Total government expenditure rose to ₹26.26 lakh crore, compared to ₹24.7 lakh crore in the previous year. Notably, capital expenditure, which focuses on infrastructure development, surged to ₹6.18 trillion, significantly higher than the ₹4.7 lakh crore recorded a year prior. These figures highlight the ongoing fiscal challenges and the government's efforts to boost infrastructure spending amid fluctuating revenue streams.
Published: Nov 28 2025, 4 pmeznews.inIndia's industrial production data for October 2025 will be released on December 1, 2025, at 4:00 PM, according to an official statement issued on Friday. Typically, the All India Index of Industrial Production (IIP) is published on the 28th of each month or the next working day if the 28th falls on a holiday. The IIP for October was initially scheduled for November 28, but the release has been postponed to align with the publication of the Quarterly Estimates of Gross Domestic Product for the second quarter of 2025-26. This adjustment aims to provide a comprehensive overview of the economic landscape, as both sets of data are crucial for assessing India's industrial performance and economic health.
Published: Nov 28 2025, 4 pmeznews.inIndia's Chief Economic Advisor, V. Anantha Nageswaran, has stressed the necessity of a robust banking system alongside strong debt capital markets to support the country's complex economy. Speaking at the TRUST Group’s India Debt Capital Market Summit 2025, he highlighted that the upcoming 15 years of investment in sectors like energy transition, logistics, and healthcare cannot rely solely on banks, which will continue to play a vital role in working capital and early-stage project finance. Nageswaran noted that India is currently in a favorable macroeconomic position, with sustained growth and stability, which has bolstered investor confidence and led to the global inclusion of Indian government securities. He called for a world-class debt market supported by diverse instruments and active market-making, emphasizing that both domestic institutions and global capital must work together to deepen the debt market, which is essential for financing India's ambitious growth targets.
Published: Nov 28 2025, 3 pmeznews.inIndia has achieved "major power" status in the Asia Power Index-2025, according to the Lowy Institute, driven by its economic growth and military capabilities, particularly highlighted by its performance in Operation Sindoor. The index, which ranks states based on resources and influence, saw India’s score rise from 38.1 to 40 points, placing it third overall, behind the US and China. Notably, India improved its economic capability ranking to third, surpassing Japan, and became the top destination for inward investment after the US. However, the report notes significant gaps between India's ambitions and its actual influence, especially compared to China, with India's weakest area being defense networks, where it dropped to 11th place. Despite these challenges, India's economic and military advancements have bolstered its geopolitical relevance, although its diplomatic relationships have not improved at the same pace, leading to a widening power gap.
Published: Nov 28 2025, 2 pmeznews.inIn Maharashtra, rabi sowing has reached only 45% completion as of November 24, with 25.99 lakh hectares cultivated out of an average 57.80 lakh hectares, according to official data. The slow start is evident across major crops, with rabi cereals sown on just 13.46 lakh hectares—less than half of the usual area. Pulses have seen 12.35 lakh hectares sown, reflecting only 47% of the average, while foodgrain sowing stands at 25.69 lakh hectares, marking 50% progress. The oilseeds segment is particularly concerning, with only 0.18 lakh hectares sown compared to an average of 0.70 lakh hectares. Agriculture officials attribute the sluggish pace to moisture stress from a delayed monsoon, staggered kharif harvests, and farmer uncertainty regarding soil conditions. However, with 91% water storage in state dams, conditions may improve in the coming weeks, potentially boosting sowing efforts.
Published: Nov 28 2025, 2 pm
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