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Union Railway Minister Ashwini Vaishnaw announced the upcoming production of 50 upgraded Amrit Bharat version 2.0 trains, each costing ₹65 crore, during a visit to the Integral Coach Factory in Chennai. These superfast, non-air-conditioned sleeper trains aim to enhance passenger experience with features such as ergonomic seating and modular toilets, catering primarily to low-income families traveling long distances. The first Amrit Bharat Express was inaugurated by Prime Minister Narendra Modi a year ago. Vaishnaw also addressed concerns regarding the newly constructed Pamban Bridge, clarifying that it was designed uniquely with international expertise, rather than following standard designs. Additionally, he highlighted the installation of safety features like the Kavach system across 10,000 locomotives and reported a record 76% utilization of the Railways' capital expenditure budget, emphasizing the government's commitment to improving services for the common citizen. 
Published: Jan 10 2025, 1 pmeznews.inMangaluru International Airport (MIA) has reported significant growth in passenger traffic and air traffic movements for the calendar year 2024 and the first nine months of the financial year 2024-25. The airport handled 22,57,621 passengers in 2024, a 17.13% increase from 19,27,466 in 2023, with domestic travel rising by 19.33% to 15,80,747 and international passengers increasing by 12.31% to 6,76,874. Notably, December 2024 marked a record high of 2,06,410 passengers. For the first nine months of 2024-25, MIA served 17,28,686 passengers, up 16% from the previous year, with domestic and international travel growing by 16.8% and 14.3%, respectively. Air traffic movements also surged, with 16,416 ATMs in 2024, an 18.44% rise from 2023. MIA attributes this growth to ongoing infrastructure enhancements and a commitment to passenger service and safety.
Published: Jan 10 2025, 5 pmeznews.inAt the Agri and Commodity Summit 2025, experts highlighted the significant potential of the Indian government's Agri Stack project to enhance agricultural development through technology and digitisation. Dr. Paresh Verma from Shriram Bioseed Genetics emphasized the need for political will and stakeholder coordination to leverage technology for farmers, noting the limited increase in seed prices compared to the rising minimum support price (MSP) for cotton. Hemendra Mathur of ThinkAg pointed out that start-ups have driven digitisation in the food value chain, with the Agri Stack programme poised to reduce transaction costs for farmers. Partha Ghosh from Social Alpha discussed how digitisation could lower insurance and banking costs, but stressed the necessity of public investment to encourage technology adoption. The summit, presented by Nabard and supported by various agricultural partners, underscored the importance of innovation in addressing climate challenges and improving rural employment.
Published: Jan 10 2025, 5 pmeznews.inThe National Statistical Office (NSO) has reported a robust growth in India's manufacturing sector, with output rising by 5.8% in November 2024, a significant increase from just 1.3% in the same month last year. Factory output also saw a rise of 5.2%, up from 3.5% in October. The growth rates for the mining, manufacturing, and electricity sectors in November were recorded at 1.9%, 5.8%, and 4.4%, respectively, compared to 0.9%, 4.4%, and 2.8% in October. Notably, 18 out of 23 industry groups within manufacturing reported positive growth, with the 'Manufacture of basic metals' leading at 7.6%, followed by 'Manufacture of electrical equipment' at a remarkable 37.2%, and 'Manufacture of other non-metallic mineral products' at 12%. Key contributors to the growth in basic metals included galvanized steel products and various steel pipes and tubes.
Published: Jan 10 2025, 4 pmeznews.inA report by the Indian Council for Research on International Economic Relations (ICRIER), titled "Making India the Global Hub for Turmeric," is set to be released in New Delhi on January 15. The report, published by Academic Foundation, outlines strategic recommendations aimed at bolstering India's status as a leading producer and exporter of turmeric. It advocates for increased value addition within the country to benefit farmers, micro, small, and medium enterprises (MSMEs), and the overall supply chain. The findings align with India's goal of becoming a developed nation by 2047, highlighting the potential of the turmeric sector to create jobs and integrate local producers into global value chains. The launch event will feature panel discussions focused on enhancing quality production and securing India's leadership in turmeric value-added products.
Published: Jan 10 2025, 4 pmeznews.inAt the Agri & Commodity Summit 2025 in New Delhi, experts emphasized the urgent need for India to adopt advanced agricultural technologies to combat the impacts of climate change on crop quality and storability. CEO of HyFarm, S Soundararajdane, highlighted that recent climate fluctuations have adversely affected product quality, while other speakers, including SeedWorks International's MD, stressed the importance of drought-resistant technologies. The discussion also pointed to the necessity of policy reforms to make alternative crop nutrients more affordable and to enhance collaboration across the agricultural value chain, involving government, food companies, and farmers. Notably, the Direct Seeded Rice (DSR) technique was praised for its efficiency, potentially allowing farmers to diversify crops beyond rice. However, challenges remain, including significant post-harvest losses and the need for improved processing capabilities, particularly in the potato sector, where only a fraction of production is processed effectively.
Published: Jan 10 2025, 4 pmeznews.inThe National Bank for Agriculture and Rural Development (Nabard) has unveiled a comprehensive four-pillar strategy to enhance the resilience of India's agricultural sector against climate change. Chairman KV Shaji, speaking at the Agri and Commodity Summit 2025, emphasized the importance of data-driven solutions and innovative financial mechanisms, including the Agri Fund and a forthcoming Carbon Fund. The first pillar focuses on promoting green lending, while the second aims to enhance market access and awareness of climate-related practices. The third pillar involves Nabard's internal commitment to achieving zero emissions, and the fourth is dedicated to mobilizing resources through blended finance and green bonds. Additionally, Nabard is developing a data warehouse to streamline access to credit and government schemes for farmers, particularly tenant farmers, in collaboration with various agencies. The initiative seeks to standardize data across states, facilitating better decision-making and financial services in the agricultural sector.
Published: Jan 10 2025, 4 pmeznews.inIndia's mergers and acquisitions (M&A) landscape has been significantly transformed by the introduction of the Green Channel mechanism, which allows for automatic approval of transactions that do not present horizontal overlaps or vertical relations. Launched in August 2019 and enhanced in 2024, this initiative by the Competition Commission of India (CCI) aims to streamline regulatory processes, reduce approval times to an average of just 16 working days, and bolster investor confidence, particularly in the private equity and venture capital sectors. Under Chairperson Ravneet Kaur's leadership, the CCI has focused on balancing facilitation with enforcement, engaging with stakeholders to refine processes, and investing in technology to manage increasing deal complexities. The Green Channel not only simplifies regulatory hurdles but also encourages domestic consolidation, driving innovation and job creation, thereby enhancing India's appeal as a business-friendly destination and supporting its ambition to become a $5 trillion economy.
Published: Jan 10 2025, 3 pmeznews.inAt the Agri and Commodity Summit 2025 in New Delhi, experts expressed alarm over the impact of rising temperatures and extreme weather on agriculture, highlighting the need for strategies to combat climate change. DS Pai from the IMD noted that while significant rainfall trends have not emerged over the past 125 years, extreme rainfall events are increasing, particularly in central India and along the coasts. Ajai Rana, CEO of Savannah Seeds, emphasized that greenhouse gas emissions from agriculture, particularly from chemical fertilizers, are exacerbating climate issues. Nabansu Chattopadhyay from the WMO warned of decreasing rainfall in regions like Chhattisgarh and eastern Uttar Pradesh, which could threaten agricultural productivity. Neha Kumar from the Climate Bonds Initiative called for a fundamental shift in how banks approach agricultural lending, integrating climate risks into their practices. The summit, co-powered by various agricultural organizations, underscored the urgent need for collaboration across science, policy, and finance to ensure sustainable agricultural practices.
Published: Jan 10 2025, 2 pmeznews.inThe Solar Energy Corporation of India (SECI) has reported a significant financial performance for the fiscal year 2023-24, with total income reaching ₹13,135.80 crore, marking a 20.91% increase from the previous year. As of December 2024, SECI's cumulative awarded capacity for renewable energy projects surpassed 73 GW, underscoring its pivotal role in India's renewable energy sector. The company also achieved a Profit After Tax (PAT) of ₹436.03 crore, reflecting a robust growth of 38.13%. SECI's performance earned it an "Excellent" rating from the Ministry of New & Renewable Energy, scoring 96 out of 100 under its Memorandum of Understanding. Additionally, SECI's trading volume rose by 22.13%, with 42.935 billion units traded. In a notable recognition, SECI was granted Navratna status by the Ministry of Finance on August 30, 2024, further solidifying its status as a leading public sector enterprise in renewable energy.
Published: Jan 10 2025, 1 pm
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