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Larsen & Toubro (L&T) has entered a strategic partnership with US-based General Atomics Aeronautical Systems, Inc. (GA-ASI) to manufacture Medium Altitude Long Endurance (MALE) Remotely Piloted Aircraft Systems (RPAS) in India for the Indian armed forces. This collaboration combines GA-ASI's expertise in unmanned aerial systems with L&T's engineering and manufacturing capabilities. L&T will act as the prime bidder for the Ministry of Defence's upcoming 87 MALE RPAS programme, with GA-ASI providing technological support. The partnership aims to produce GA-ASI's MQ-series RPAS platforms entirely in India, aligning with the government's Atmanirbhar Bharat and Make in India initiatives. S. N. Subrahmanyan, L&T's Chairman, emphasized the opportunity to enhance India's defence capabilities, while Dr. Vivek Lall of GA-ASI highlighted the commitment to India's self-reliance vision. The Indian Army has also earmarked $250 million for enhancing its firepower and air defence systems. 
Published: Oct 31 2025, 3 pmeznews.inAir India is seeking ₹8,000-10,000 crore from its promoters, Tata Sons and Singapore Airlines, to enhance its systems and services, as the proposal is currently under consideration by shareholders. The loss-making airline's funding request follows a challenging operational environment, exacerbated by the closure of Pakistan's airspace, which has increased costs and extended flight routes, resulting in an estimated ₹4,000-crore loss. In FY25, Tata Sons and Singapore Airlines had previously injected over ₹9,500 crore into the airline, with Tata contributing more than ₹4,000 crore. Air India, which reported a consolidated net loss of ₹10,859 crore in FY25, has recently completed a retrofit programme for its legacy A320neo fleet, part of a broader $400 million initiative to modernise its aircraft. The airline now operates 104 A320 Family aircraft with upgraded interiors, marking a significant step in its five-year transformation programme initiated in 2022.
Published: Oct 31 2025, 8 pmeznews.inAir India, owned by Tata Group, has completed the retrofit of its entire legacy A320neo fleet as part of a $400 million modernization initiative aimed at enhancing passenger experience. The final aircraft, the twenty-seventh, has returned to service with new cabin interiors and the airline's updated livery, marking the completion of the one-year project that began in September 2024. The fleet now includes 104 A320 Family aircraft, comprising 14 newly delivered models and those integrated from Vistara. Air India operates 3,024 weekly flights across 82 domestic and international routes, with modernized aircraft serving key sectors like Delhi-Mumbai and international destinations such as Bangkok and Singapore. The upgrades feature a three-class configuration, new seating, and enhanced inflight entertainment options. Looking ahead, Air India plans to retrofit its A321 and Boeing 777-300ER fleets, with completion expected by 2028.
Published: Oct 31 2025, 9 pmeznews.inMyanmar's Deputy Commerce Minister Minn Minn emphasized the country's vital role in the global rice market during the Bharat International Rice Conference (BIRC) 2025 in New Delhi, which concluded on October 30. He highlighted Myanmar's status as a rice surplus nation, capable of meeting rising international demand due to its abundant land and water resources, as well as the dedication of its farmers. Minn described rice as the backbone of Myanmar's economy and a key factor in rural development and poverty alleviation. However, he acknowledged challenges such as limited access to modern technology and the impacts of climate change, calling for national efforts and international partnerships to address these issues. He also stressed the importance of collaboration between Myanmar and India, advocating for a united approach to food security amid global challenges, and underscoring the need for sustainable agricultural growth to ensure rice remains accessible to all.
Published: Oct 31 2025, 9 pmeznews.inThe India Meteorological Department (IMD) reported that the country experienced 112.1 mm of rainfall in October, marking a 49% increase above normal and the second highest since 2001. This surge was attributed to four low-pressure systems and four Western Disturbances affecting northern India. Looking ahead, the IMD forecasts below-normal daytime temperatures and above-normal nighttime temperatures for November, alongside "normal to above-normal" rainfall across most regions, except Tamil Nadu and Puducherry, which are expected to see below-normal precipitation due to prevailing La Niña conditions. The IMD's Director-General, M. Mohapatra, indicated that weak La Niña conditions are likely to persist until December 2025, with a 55% chance of transitioning to ENSO-neutral by early 2026. The north-east monsoon also delivered significant rainfall in the south peninsula, totaling 246 mm in October, 43% above normal.
Published: Oct 31 2025, 8 pmeznews.inThe Indian gem and jewellery sector remains optimistic despite rising gold prices, with a notable shift in consumer preferences towards investing in gold bars and coins. Saiyam P. Mehra, the immediate past chairman of the Gem and Jewellery Domestic Council, reported a 20% increase in sales of gold coins and bars during Diwali, reflecting a growing trend of parents investing in gold for their children's future. While jewellery sales may dip slightly as prices rise, Mehra noted that the budget allocation for jewellery in weddings has increased from 15% to 25%. The sector achieved approximately ₹65,000 crore in revenue during the Diwali period, with Kerala leading in gold jewellery sales, accounting for over 20% of the national market. Mehra anticipates gold prices could reach ₹1,50,000 in six months, yet consumer interest remains strong, with a shift towards 18-carat and potentially 9-carat jewellery in the coming years.
Published: Oct 31 2025, 6 pmeznews.inIn September, south Kashmir's apple and paddy farmers faced severe challenges as relentless rains and floods devastated their crops, compounding the difficulties already caused by a damaging hailstorm in June. The hailstorm had already left orchards in the region, particularly in the apple-rich villages of Shopian district, nearly barren, with many growers reporting near-total crop loss. With over 70% of local households dependent on fruit farming, the economic impact has been profound, pushing many families into debt as agricultural loans in Jammu and Kashmir surpass ₹11,700 crore. Despite the government's acknowledgment of the damage affecting 1,435.6 hectares, farmers lament the lack of effective crop insurance, with compensation often falling short of their losses. The Restructured Weather Based Crop Insurance Scheme, intended to provide coverage for crops like apples, has yet to gain traction, leaving farmers anxious as they prepare for the next growing season.
Published: Oct 31 2025, 7 pmeznews.inIndia has excluded China, Pakistan, and Turkiye from the guest list for the upcoming third International Fleet Review (IFR) set to take place in Visakhapatnam in February 2026. The event, which has been in preparation since 2016, will be reviewed by President Droupadi Murmu and is expected to feature a significant display of indigenously built warships, highlighting India's strides in defence manufacturing. So far, 55 countries have confirmed their participation, including the United States and Russia, while the final number may fluctuate as the event approaches. Navy Vice Chief Vice Admiral Sanjay Vatsayan noted that Turkiye's exclusion stems from its support for Pakistan during Operation Sindoor, reflecting India's broader geopolitical stance. The IFR, themed "United Through Oceans," aims to enhance international maritime security and cooperation, coinciding with the Milan multilateral naval exercise, which emphasizes camaraderie and collaboration among participating nations.
Published: Oct 31 2025, 7 pmeznews.inCapital expenditure (capex) by Central Ministries and Departments in India surged nearly 40% during the first half of FY26, reaching over ₹5.80 lakh crore, which accounts for 52% of the budget estimate of ₹11.21 lakh crore, according to data from the Controller General of Accounts (CGA). Key infrastructure sectors, including Road Transport and Railways, exceeded half of their budget allocations, with the Road Ministry's spending rising by 22% and Railways by 6%. However, a decline in net tax revenue contributed to a 20% increase in the fiscal deficit, which reached 36.5% of the full-year target. Despite a modest growth of 2.8% in gross tax revenues, experts remain cautious about meeting the fiscal deficit target of 4.4% of GDP for FY26, as significant growth in tax collections is needed in the second half of the fiscal year.
Published: Oct 31 2025, 7 pmeznews.inThe Confederation of Indian Industries (CII) has called for a transformative approach to India's tax system, advocating for a shift from a dispute-driven to a dispute-preventive mechanism. In a meeting with Revenue Secretary Arvind Srivastava, CII presented its recommendations for the Union Budget 2026-27, highlighting the need to resolve over 5 lakh pending appeals involving ₹18 lakh crore in disputed demands. Key proposals include fast-tracking high-demand cases, suspending parallel penalty proceedings until appeals are resolved, and reviving the Authority for Advance Rulings to provide binding decisions within six months. CII also emphasized the importance of institutionalizing taxpayer trust through a Statutory Taxpayer Rights Charter and simplifying the complex TDS/TCS framework. Director-General Chandrajit Banerjee stated that these reforms should not only enhance revenue collection but also foster investment and innovation, positioning India’s tax regime as modern and globally competitive.
Published: Oct 31 2025, 7 pmeznews.inThe 36th Annual Group Meeting of the ICAR-All India Coordinated Research Project on Spices (AICRPS) convened in Umiam, Meghalaya, bringing together spice experts and scientists from across India. During the meeting, six high-yielding spice varieties were identified for release, including three Ajwain varieties (HAJ-7, JA-19-1, Ajmer Ajwain-24), one fennel variety (RF 231), and two ginger varieties (V1E45, IISR Navya). These innovations aim to enhance productivity and resilience, ultimately benefiting farmers' incomes. Additionally, seven new technologies for crop management and plant protection were recommended, addressing challenges such as pest control and disease management. B C Deka, Vice Chancellor of Assam Agricultural University, emphasized the importance of supporting farmer collectives to foster a robust spice economy, while Samarendra Hazarika, Director of ICAR-NEH, highlighted the need for strategies to combat climate change impacts. The meeting underscored the commitment to advancing spice research in alignment with national agricultural priorities.
Published: Oct 31 2025, 6 pm
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