eznews.inThe Indian government's efforts to divest stakes in Life Insurance Corporation (LIC) and IDBI Bank are progressing, according to a senior official. While no specific timeline has been set for LIC, the strategic sale of IDBI Bank is expected to conclude by October. Currently, the government holds a 96.5% stake in LIC, with plans to sell 6.5% in tranches to meet the 10% public shareholding requirement by May 2027. The government previously raised approximately ₹21,000 crore by divesting 3.5% through an IPO in May 2022. In the case of IDBI Bank, the government and LIC aim to sell a combined 60.72% stake, with the government divesting 30.48% and LIC 30.24%. The due diligence process is ongoing, and financial bids will soon be invited, following multiple expressions of interest received earlier this year. Shares of both LIC and IDBI Bank have seen slight declines in recent trading. 
Published: Jul 10 2025, 8 pmeznews.inIndia's tea production surged by approximately 40% in May 2025, reaching 130.60 million kgs, bolstered by favourable weather conditions across key growing regions. According to the Tea Board, North India saw a 32% increase, producing 104.37 million kgs, while South India experienced an impressive 88% rise to 26.23 million kgs. Cumulatively, tea output from January to May 2025 reached 336.22 million kgs, a 26% increase compared to the same period last year. Notably, Assam's production rose by 24% to 62.59 million kgs, and West Bengal's output increased by 47% to 38.27 million kgs. Tamil Nadu, the largest producer in the South, reported a 90% increase. However, June's production is expected to decline due to adverse weather conditions, including heavy rainfall. The production of CTC teas dominated at 112.29 million kgs, followed by orthodox and green teas.
Published: Jul 10 2025, 7 pmeznews.inThe Indian government has allocated ₹29,576 crore under the Production Linked Incentive (PLI) scheme for the automotive sector, creating over 44,987 jobs across the value chain, as revealed in a recent review by the Ministry of Heavy Industries (MHI). This expenditure represents 70% of the total ₹42,500 crore investment planned for the scheme's five-year duration. Incentives disbursed so far amount to ₹322 crore, with a revised budget estimate for FY26 set at ₹336 crore, significantly lower than the previous year's ₹3,150 crore. Major companies, including Tata Motors, Mahindra & Mahindra, and Ola Electric, have received approvals for incentives. Minister HD Kumaraswamy emphasized the government's commitment to enhancing industry support and fostering a competitive auto sector. Launched in September 2021, the PLI-Auto scheme aims to boost manufacturing of advanced automotive technology, particularly focusing on zero-emission vehicles, and is structured into two sub-schemes for original equipment manufacturers and components.
Published: Jul 10 2025, 7 pmeznews.inOn June 3, 2025, President Donald Trump escalated tariffs on steel and aluminium imports to 50%, prompting India to revise its retaliatory duty proposal on American goods to $3.82 billion, up from $1.91 billion when tariffs were at 25%. New Delhi contends that the U.S. tariffs, framed as national security measures, violate World Trade Organization (WTO) rules and threaten $7.6 billion of Indian exports. While India has signalled its intent to impose retaliatory tariffs, officials indicate that no immediate action will be taken as negotiations for a bilateral trade agreement (BTA) are ongoing. India previously challenged U.S. tariffs at the WTO in 2018 and imposed retaliatory measures in 2019, but rolled back some tariffs in 2023 following concessions from the Biden administration. The current situation reflects ongoing tensions in U.S.-India trade relations amid hopes for resolution through diplomatic talks.
Published: Jul 10 2025, 7 pmeznews.inThe Indian government has announced new pricing under its Open Market Sales Scheme (OMSS) for foodgrains, effective November 1, 2025. The reserve price for wheat has increased to ₹2,550 per quintal, while rice prices vary by buyer category, with a fixed price of ₹2,480 per quintal for Central cooperative agencies. The allocation for ethanol production remains at 5.2 million tonnes for the 2025-26 supply year, with a price hike to ₹2,320 per quintal. A new category of broken rice, aimed at distilleries, will be auctioned at the same rate. Notably, the ₹200 per quintal subsidy for 'Bharat' brand rice has been discontinued since July 1, and private millers are barred from selling this brand. Additionally, state governments can purchase rice at ₹2,320 per quintal without e-auction, although the total quantity available has been reduced to 3.2 million tonnes.
Published: Jul 10 2025, 7 pmeznews.inIndia's major reservoirs have seen a significant increase in storage levels this week, now exceeding 50% of their total capacity, largely due to beneficial rainfall from the South-West Monsoon. According to the Central Water Commission, storage has risen to 51.80%, equating to 94.513 billion cubic metres, which is markedly higher than both last year and the 10-year average. The monsoon is currently 14% surplus, with central and north-west India experiencing particularly high rainfall. In the southern region, reservoir levels have surged over 60%, with Tamil Nadu reporting the highest at 92.69%. Meanwhile, the northern region's reservoirs are at 41.24% capacity, and the central region has reached 45.95%. The India Meteorological Department forecasts continued rainfall, which is expected to further enhance reservoir levels and support improved kharif crop production, with the area under cultivation up by 11.5%.
Published: Jul 10 2025, 7 pmeznews.inGMR Hyderabad International Airport Ltd (GHIAL) has successfully acquired a 70% stake in ESR GMR Logistics Park Private Ltd (EGLPPL), making it a wholly owned subsidiary. This acquisition consolidates GHIAL's existing 30% stake held through its subsidiary, GMR Hyderabad Aerotropolis Ltd (GHAL), which was formed in 2020 as a joint venture for developing logistics and warehousing infrastructure in Hyderabad. With approximately 1.7 million square feet of industrial space already developed, this strategic move is aimed at enhancing GHAL's Airport Land Development strategy, reinforcing Hyderabad's position as a key logistics hub. Pradeep Panicker, CEO of GHIAL, emphasized that this acquisition is a significant step towards transforming Hyderabad Airport into a vibrant center for integrated logistics and industrial development, thereby unlocking new growth opportunities within the region.
Published: Jul 10 2025, 6 pmeznews.inAir India has announced an extension of its international service cuts until August 31 due to ongoing airspace closures over Pakistan and Iran, which have forced the airline to reroute flights via Egypt. The adjustments have resulted in longer flight durations, particularly for non-stop services to the US, increasing travel times by 2-3 hours and leading to a penalty on payload, with 40-50 seats remaining unsold. The airline's managing director, Campbell Wilson, emphasized the need for a "safety pause" to conduct voluntary aircraft checks and stabilize flight schedules. Flights to Chicago, Toronto, and Washington now require a transit halt in Vienna, necessitating additional crew. Despite these measures, Air India is struggling with operational stability and a decline in demand on routes from the US, Canada, and West Asia, as it navigates the challenges posed by the current geopolitical climate.
Published: Jul 10 2025, 6 pmeznews.inDeccan Grainz India, a prominent exporter of rice under the Deccan brand, has announced its expansion into China, a significant rice-producing nation, while also planning to launch branded rice in India next year. Kiran Kumar Pola, the company's director, highlighted that Deccan is the only South Indian rice brand exporting 30 varieties to Western countries, including the US, UK, Canada, and Australia. The company leads the non-basmati rice market in the US, sourcing quality rice from thousands of farmers across Andhra Pradesh and Telangana. Over the past 15 years, Deccan Grainz has exported seven crore bags of rice, with Sona Masoori accounting for 60% of its sales. Operating a processing facility near Hyderabad with a capacity of 5,500 tonnes, the company employs 100 people, reinforcing its commitment to quality and local agriculture.
Published: Jul 10 2025, 6 pmeznews.inExperts at India Energy Storage Week have urged the country to diversify its battery technologies beyond the dominant lithium-ion (Li-ion) systems, which are currently favored for their high energy density and rapid charging capabilities. As the electric vehicle (EV) market expands in India, concerns over the limited availability of raw materials for Li-ion batteries pose potential production challenges. Researchers are exploring alternatives such as Vanadium Redox Flow Batteries (VRFB), sodium-ion technologies, and innovative thermo-mechanical systems. The VRFB market alone is projected to grow significantly, with a compound annual growth rate of 19.7% from 2024 to 2030. Industry leaders emphasize the need for these alternative solutions to ensure grid stability and support the increasing demand for clean energy. Innovations like zinc-air batteries and CO2-based storage systems are also being introduced, highlighting a future of diverse and sustainable energy storage solutions in India.
Published: Jul 10 2025, 5 pm
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