eznews.inIndia's vast domestic market significantly reduces its vulnerability to external economic fluctuations, according to Aurelien Kruse, Lead Economist at the World Bank. Speaking at CareEdge Global's event, Kruse highlighted that India's scale, resilience, and favorable demographics position it as a robust player in the global economy. With a growing working-age population and a dependency ratio that supports economic growth, India is projected to maintain a growth rate between 6.3% and 7% in the coming years, as forecasted by both the World Bank and IMF. However, Kruse emphasized the need for India to enhance productivity and efficiency to aim for a growth rate of 10%. He noted that India's burgeoning digital and innovation sectors are crucial for this advancement. Despite global trade challenges, Kruse remains optimistic, asserting that India's economic trajectory is promising, and its openness to global markets will further bolster its growth potential. 
Published: Nov 12 2025, 2 pmeznews.inIn New Delhi, Union Finance Minister Nirmala Sitharaman chaired the third pre-Budget consultation meeting focused on the Micro, Small and Medium Enterprises (MSME) sector as part of the preparations for the Union Budget 2026-27. The meeting, attended by Union Minister of State for Finance Pankaj Chaudhary and senior officials from the Ministry of Finance and MSME, aimed to address key challenges faced by the sector and discuss measures to enhance its growth and competitiveness. The consultations are a crucial part of the budget preparation process, allowing the Finance Ministry to gather diverse perspectives from stakeholders, including industry associations and economists. These discussions are expected to inform the upcoming budget, which is set to be presented in Parliament on February 1, 2026. The series of pre-Budget meetings underscores the government's commitment to engaging with various sectors to ensure a comprehensive and inclusive budget.
Published: Nov 12 2025, 2 pmeznews.inRC Bhargava, Chairman of Maruti Suzuki India, has voiced concerns over the draft Corporate Average Fuel Efficiency (CAFE-3) standards, which he argues exhibit bias towards larger vehicles. Speaking to _businessline_, Bhargava emphasized that regulations should be neutral and not favour any specific class of vehicles unless explicitly mandated by the government. He criticized the initial CAFE draft released in December 2024 for favouring bigger cars, although he acknowledged improvements in the September revision that included small cars. The Society of Indian Automobile Manufacturers (SIAM) recently submitted comments on the draft, revealing a split within the industry; while companies like Maruti and Toyota support small cars, others, including Tata and Hyundai, advocate for weight reductions in larger vehicles. Bhargava reiterated the need for fairness in the CAFE norms, arguing that regulations should promote efficiency and reduce emissions without bias.
Published: Nov 12 2025, 1 pmeznews.inThe Codex Alimentarius Commission, the United Nations' food standards body, has established a maximum lead limit of 2 mg/kg for culinary herbs and 2.5 mg/kg for spices, including cinnamon, to address health risks associated with lead exposure. Meeting in Rome from November 10 to 14, the Commission emphasized the importance of these limits due to lead's neurodevelopmental effects in children and other serious health issues, such as hypertension and impaired fertility. The new regulations will be incorporated into the General Standard for Contaminants and Toxins in Food and Feed. Additionally, the Commission revised its code of practice for reducing aflatoxin contamination in peanuts, highlighting the need for updated practices to combat this potent liver carcinogen. The panel also approved a standard for fresh dates to enhance consumer trust and facilitate international trade, reflecting the growing market for this product.
Published: Nov 12 2025, 1 pmeznews.inUnion Minister of Commerce and Industry Piyush Goyal has staunchly defended the government's Quality Control Orders (QCOs), which aim to enhance product quality and promote a culture of excellence in manufacturing across various sectors, including toys and plywood. His remarks come in response to a NITI Aayog report suggesting the scrapping of certain QCOs, arguing they hinder India's competitiveness and burden MSMEs with increased costs and compliance challenges. Speaking at the Udyog Samagam 2025 event, Goyal emphasized that QCOs, which mandate compliance with Bureau of Indian Standards (BIS) regulations, are crucial for improving local production quality and curbing low-quality imports. Currently, around 188 QCOs cover over 773 products, but the NITI Aayog has called for a rationalization of these measures, advocating for phased implementation and exemptions for essential raw materials to support smaller manufacturers.
Published: Nov 12 2025, 12 pmeznews.inU.S. trade tensions with China have hindered business jet opportunities for Gulfstream Aerospace, despite a generally positive global market for private aircraft, according to President Mark Burns. Gulfstream, a division of General Dynamics, plans to increase its jet production through 2029, driven by strong domestic demand and new aircraft models. While Burns acknowledges the broader global strength in the market, he noted that trade issues have slowed potential deals in China, where Gulfstream operates around 150 aircraft. Recent diplomatic efforts between U.S. President Donald Trump and Chinese President Xi Jinping aim to ease these tensions. The demand for private flying has surged among high-net-worth individuals post-COVID-19, with Gulfstream also benefiting from increased orders from Fortune 500 companies. The company anticipates further growth with the upcoming G300 jets, which will compete with Bombardier's Challenger 3500, contingent on robust demand and supply chain capacity.
Published: Nov 12 2025, 12 pmeznews.inIndia Ratings & Research (Ind-Ra) has projected a robust GDP growth of 7.2% for the second quarter of FY26, driven primarily by strong private consumption, as the National Statistics Office (NSO) prepares to release official GDP estimates on November 28. This follows a 5.6% expansion in the same quarter of the previous fiscal year. Ind-Ra noted that the economy has shown resilience, bolstered by steady real income growth across households and a thriving services sector, despite global economic uncertainties. Retail inflation has decreased more rapidly than anticipated, enhancing real wages and consumption demand. While nominal GDP growth is expected to dip below 8% year-on-year, the real GDP growth remains strong, aided by lower input costs. Ind-Ra also highlighted a healthy investment demand growth of 7.5%, supported by consistent government capital expenditure.
Published: Nov 12 2025, 12 pmeznews.inThe Indian Power Ministry has proposed the gradual withdrawal of inter-state transmission charges (ISTS) waivers to promote a more balanced development of renewable energy (RE) across the country. This recommendation, part of a report by the Parliamentary Standing Committee on Energy, aims to alleviate the concentration of RE in states like Rajasthan and Gujarat, which has led to grid instability and high costs for expanding transmission infrastructure. Currently, ISTS charges average around 65 paise per unit, with a planned reduction of 25% annually until they reach zero by June 2028, excluding certain energy sectors. The Ministry highlighted that the existing waiver disproportionately burdens hydro-rich states, raising consumer tariffs and prompting states with RE potential to rely on external power sources. The committee urged the Ministry to support states with lower solar capacity through financial assistance and policy measures to enhance their energy infrastructure.
Published: Nov 12 2025, 12 pmeznews.inIndia is set to enhance its UDAN initiative, launched in 2016 to improve regional air connectivity, by introducing subsidies for airlines operating flights to underutilized airports. This move aims to revive dormant airports, including those in Azamgarh and Muzaffarpur, which have yet to see any passenger traffic despite having adequate facilities. The revamped program will offer monthly subsidies to airlines in exchange for lower fares on select routes, addressing the gap between regular and discounted prices. While the existing UDAN framework allowed for bidding on subsidies, the new approach will include both auction-based and direct incentive options. With at least a dozen of India's 140 airports recording zero passengers recently, the government is also planning to establish a federal Transport Planning Authority to better align infrastructure projects and improve efficiency. The proposal is expected to be presented to Prime Minister Narendra Modi's office soon.
Published: Nov 12 2025, 12 pmeznews.inDespite unseasonal rains damaging major crops in Maharashtra, turmeric farmers are optimistic about a fruitful season, with expectations of a bumper harvest. The golden spice has proven resilient, leading to an expansion in cultivation area, which is projected to reach 77,992 hectares for the 2024-25 season, accounting for 26% of India's total turmeric area. Farmers in Sangli, the state’s turmeric hub, anticipate surpassing last year's cultivation levels. Nationally, turmeric production is expected to rise from 10,63,224 metric tonnes in 2023-24 to 11,16,124 metric tonnes in 2024-25, driven by stable prices and favorable weather. India remains the world's largest turmeric producer, contributing nearly 80% of global output. With strong market prices, local growers expect steady rates even with new crop arrivals. Maharashtra's dominance in production and exports, accounting for 45% of India's turmeric export value, solidifies its status as the country's turmeric powerhouse.
Published: Nov 12 2025, 11 am
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