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Union Petroleum and Natural Gas Minister Hardeep Singh Puri has projected that India could become the second-largest oil refiner globally by 2035, as over 100 refineries are anticipated to close in the coming years. Speaking at the Energy Technology Meet, Puri noted that India's domestic energy consumption is rapidly increasing, with the International Energy Agency revising its forecast for India's contribution to global demand growth from 25% to 30% over the next two decades. He emphasized the country's expanding energy mix, which now includes biofuels, green hydrogen, and renewables, and highlighted India's position as a major exporter of refined petroleum products, valued at over $45 billion last year. With a current refining capacity of 258 million tonnes per year, India aims to reach 310 MMTPA by 2030, with ambitions extending to 450 MMTPA, contingent on effective policy frameworks and implementation. 
Published: Oct 28 2025, 7 pmeznews.inIndia's Directorate General of Foreign Trade (DGFT) has announced a significant amendment to the procedures for domestic exporters seeking duty concessions under the India-EFTA free trade agreement, which includes Switzerland, Norway, Iceland, and Liechtenstein. Effective from October 1, 2025, exporters can now obtain the Certificate of Origin (CoO) through self-declaration, streamlining the process previously reliant on authorized agencies. The CoO is a crucial document that exporters must present at the destination port to claim duty concessions and verify the origin of their goods. This change aims to simplify the export process and enhance trade relations with EFTA nations, reflecting India's commitment to facilitating international commerce. The amendment was detailed in a public notice issued by the DGFT on October 28, 2025.
Published: Oct 28 2025, 11 pmeznews.inAt the Asia-Pacific Accident Investigation Group (APAC-AIG) meeting in New Delhi, Civil Aviation Secretary Samir Kumar Sinha announced the establishment of a National Aviation Safety Centre aimed at enhancing India's aviation safety framework through capacity building and international collaboration. The initiative includes launching ICAO-aligned audit courses at the Rajiv Gandhi National Aviation University (RGNAU) and plans to double the manpower of the Directorate General of Civil Aviation (DGCA) and the Aircraft Accident Investigation Bureau (AAIB). This meeting, hosted in India for the first time, underscores the country's commitment to aligning with global safety standards, as highlighted by the improvement of India's ICAO safety oversight score from 70% in 2018 to 85% in 2025. Civil Aviation Minister Rammohan Naidu emphasized the need to balance rapid growth in the aviation sector with stringent safety measures, as India aims to expand its airport network significantly by 2047.
Published: Oct 28 2025, 10 pmeznews.inThe Federation of Indian Chambers of Commerce and Industry (FICCI) has called on the Finance Ministry to simplify Tax Deducted at Source (TDS) norms and reduce the backlog of appeals at the Commissioner of Income Tax-Appeal (CIT(A)). In its pre-budget memorandum, FICCI highlighted the complexity of the current TDS structure, which features 37 different payment categories with rates ranging from 0.1% to 30%, leading to disputes and cash flow issues for businesses. The body proposed a streamlined TDS framework with just three rates and urged the government to expedite the resolution of pending appeals, which currently number around 540,000, involving ₹18.16 lakh crore. FICCI also recommended filling 40% of vacancies at CIT(A) and restoring the definition of Associated Enterprises to ensure tax policy continuity and reduce litigation. Additionally, it sought clarity on tax neutrality for fast-track demergers to enhance the ease of doing business.
Published: Oct 28 2025, 9 pmeznews.inChennai is currently experiencing severe weather conditions as Cyclone Montha approaches the Andhra Pradesh coast, with high waves crashing against the shoreline. As of Tuesday afternoon, the cyclone was located 60 km south-southeast of Machilipatnam, packing maximum sustained winds of 90-100 km/h, gusting to 110 km/h, according to the India Meteorological Department. Meanwhile, in the Caribbean, Hurricane Melissa has intensified into a category-5 storm, with peak winds soaring from 224 km/h to 280 km/h, making it one of the strongest storms recorded this year. Both storms formed around the same time, with Melissa benefiting from warm waters in the Caribbean. The combination of Montha and a depression in the Arabian Sea is expected to bring unseasonal heavy rainfall across various regions in India, particularly in Coastal Andhra Pradesh, Telangana, and parts of West India, with warnings of extremely heavy rainfall in some areas.
Published: Oct 28 2025, 9 pmeznews.inAs October unfolds, Kashmir's apple orchards are shrouded in smoke from farmers burning fallen leaves and twigs, significantly degrading air quality and posing health risks to local residents. Experts highlight that this biomass burning is a key factor in rising PM2.5 levels, particularly during the autumn months, exacerbated by temperature inversion, which traps pollutants close to the ground. The average PM2.5 concentration in the Valley exceeds 100 micrograms per cubic metre in winter, a level deemed severe by the World Health Organization. This pollution has led to a surge in respiratory illnesses, with around 10,000 annual deaths in Jammu & Kashmir linked to air quality issues. While burning is a traditional practice for creating charcoal used in kangris for warmth, experts urge farmers to adopt sustainable practices like composting and sheep grazing to protect soil health and improve air quality.
Published: Oct 28 2025, 8 pmeznews.inThe Netherlands is seeking to strengthen its ties with India through enhanced cooperation in green and digital shipping, according to Robert Tieman, the Dutch Minister of Infrastructure and Water Management. Leading a delegation of 25 Dutch companies, Tieman met with India's Ports, Shipping, and Waterways Minister Sarbananda Sonowal, resulting in the signing of several memorandums of understanding (MoUs). Tieman emphasized the potential for collaboration in areas such as dredging and ship design, as well as the establishment of a green and digital corridor between Rotterdam and Indian ports. With the Netherlands aiming to develop its green hydrogen capacity, it anticipates needing external partners for a significant portion of its requirements. The agreements also cover maritime financing, development funds, and joint research in green shipping technologies, with Sonowal highlighting the partnership's potential to drive sustainability and growth for India's future.
Published: Oct 28 2025, 8 pmeznews.inThe recent rationalisation of Goods and Services Tax (GST) has revitalised demand for entry-level vehicles in India, bringing sales back to pre-pandemic levels last seen in 2019. According to the Federation of Automobile Dealers Association (FADA), this festival season has recorded the highest sales ever, driven by reduced down payments and equated monthly installments (EMIs). The GST Council's decision to lower rates on smaller cars and two-wheelers from 28% to 18%, effective September 22, has made vehicles more affordable, further boosting consumer interest. FADA reported a 34% year-on-year increase in retail sales during Navratri, with dealerships experiencing unprecedented footfalls. Attractive financing options have also encouraged consumers to opt for new vehicles instead of second-hand ones. As the festival season continues, dealers anticipate sustained sales momentum, with data on overall festival sales expected to be released in early November.
Published: Oct 28 2025, 8 pmeznews.inIndia's aviation safety regulator, the Directorate General of Civil Aviation (DGCA), has announced the empanelment of ten new Aeromedical Evaluation Centres (AMECs) to streamline the medical certification process for pilots and air traffic controllers. This initiative aims to enhance the capacity and accessibility of class 1, 2, and 3 medical examinations, with the new centres strategically located for nationwide coverage and quicker assessment turnaround times. Previously, only eight centres were authorized for class 1 initial medical exams. The Apollo Group of Hospitals will operate AMECs in five cities, while other facilities include Nanavati Hospitals and VM Medical Care Centre in Mumbai, Ruby Hall Clinic in Pune, and Max Multi Speciality Centre and Medanta Medicity in New Delhi. Equipped with advanced diagnostic tools and specialists, these centres will adhere to updated protocols, ensuring compliance with national and international aviation standards, thereby addressing potential pilot shortages.
Published: Oct 28 2025, 8 pmeznews.inIn April 2025, China implemented stringent new regulations for rare earth exports, requiring exporters to obtain an end-user certificate from importers, ensuring that the materials will not be used for weapons of mass destruction. Recently, additional restrictions were introduced, mandating that these materials cannot be re-exported, complicating matters for Indian importers, particularly in the automotive and electronics sectors, which are heavily reliant on Chinese supplies. The Indian government is currently seeking clarification from Beijing on how to comply with these new criteria. The expanded regulations now cover 12 rare earth minerals and impose extra-territorial controls, affecting foreign companies using Chinese-sourced materials. As India grapples with these challenges, officials stress the urgent need to develop a domestic rare earth industry, although this will take time, leaving the country dependent on Chinese imports in the short term.
Published: Oct 28 2025, 8 pmeznews.inAir India Express is enhancing its focus on leisure and small to medium-sized enterprises (SMEs) with the introduction of new comfortable seating and revamped menus, as announced by CEO Aloke Singh. The airline showcased its upgraded product on a retrofitted Boeing 737 Max, with plans to transform 49 additional aircraft into a 189-seat all-economy configuration by mid-2026. These changes follow a recent marketing campaign and network adjustments aimed at strengthening the airline's presence in Bengaluru, which is set to become a key hub alongside Delhi and Mumbai. Currently, these three cities account for 62% of the airline's domestic departures, a figure expected to rise to 74% by November. The winter schedule will also see the addition of four new destinations from Bengaluru: Bangkok, Jeddah, Kuwait, and Riyadh. Air India Express currently operates 110 aircraft and anticipates receiving 20-24 new Boeing 737 Max planes by 2026.
Published: Oct 28 2025, 6 pm
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