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Maldivian President Mohamed Muizzu inaugurated a new terminal at Velana International Airport on July 26, 2025, coinciding with the country's 60th Independence Day. Dubbed "a pillar of economic independence," the terminal aims to bolster tourism, which constitutes 21% of the Maldives' GDP, amid rising external debt exceeding $8 billion. The $585 million facility, designed to accommodate 7.5 million passengers annually, features modern amenities and reflects the Maldives' cultural identity. Despite political tensions and past project delays, including the controversial termination of a previous airport contract, the new terminal is seen as vital for economic recovery. The World Bank and IMF project that it could drive a 5.2% average economic growth in the medium term. With a renewed focus on attracting Indian tourists following strained relations, authorities are optimistic about achieving a $5 billion tourism revenue target for 2025, aided by improved air connectivity and marketing efforts. 
Published: Aug 09 2025, 6 pmeznews.inIndian exporters in sectors such as agriculture, pharmaceuticals, and automobiles are struggling to leverage the lower duties available under the ASEAN-India Trade in Goods Agreement (AITIGA), according to a recent study by the Commerce Department. Despite significant exports to ASEAN countries like Indonesia, Vietnam, Thailand, and Cambodia, the utilisation of preferential tariff routes remains low, at around 30-40%. This underutilisation is contributing to a widening trade deficit, which surged to $45.2 billion in FY 25 from $8 billion in 2010. The study highlights specific commodities, such as vegetable oils and medicaments, where Indian exporters have not capitalised on the duty differentials, which can be as high as 35% for certain products. As India seeks to negotiate last-mile concessions ahead of the ASEAN summit, the review of the trade pact initiated in 2023 has yet to yield significant improvements.
Published: Aug 10 2025, 8 pmeznews.inKarnataka Chief Minister Siddaramaiah celebrated the inauguration of Bengaluru's Yellow Line Metro and the commencement of Phase-3 works, marking a significant step in alleviating the city's traffic woes. The Yellow Line, spanning 19 km, is expected to boost daily ridership to 1.25 million, with future expansions potentially accommodating 3 million passengers by 2030, contingent on central government approvals. Siddaramaiah highlighted the state's substantial financial commitment, contributing over ₹25,387 crore—87.37% of the total funding—compared to the Centre's ₹7,468 crore. He urged the Union government for increased funding, similar to support given to other states, emphasizing that Karnataka, a major tax contributor, deserves equitable treatment. The Yellow Line will enhance connectivity to key biotech and IT hubs, while ongoing and planned projects aim to transform Bengaluru into a model city, with a total metro network of 117 km expected upon completion of Phase-2.
Published: Aug 10 2025, 8 pmeznews.inPrime Minister Narendra Modi inaugurated the Yellow Line of the Bengaluru Metro on August 10, 2025, taking a metro ride from RV Road to Electronic City alongside Karnataka Chief Minister Siddaramaiah, Deputy CM DK Shivakumar, and Union Minister Manohar Lal Khattar. During the event, Modi announced that India is on the verge of producing its first domestically manufactured semiconductor chip, highlighting Bengaluru as a symbol of a new India that blends philosophical and technological knowledge. He laid the foundation for the Orange Line of Namma Metro, which, along with the Yellow Line, is expected to accommodate 2.5 million passengers daily, alleviating the city's severe traffic congestion. Khattar noted the strain on Bengaluru's infrastructure due to its population of 14 million and nearly 12 million vehicles. Union Railway Minister Ashwini Vaishnaw emphasized the significant increase in railway funding for Karnataka, with ongoing projects worth ₹54,000 crore.
Published: Aug 10 2025, 5 pmeznews.inThe Indian government is considering amendments to the Mines and Minerals (Development and Regulation) Act to establish a mineral and metal trading exchange, akin to the London Metal Exchange, to enhance price discovery and bolster self-reliance amid ongoing supply chain disruptions. Discussed in a recent Cabinet meeting, the proposed changes aim to create a structured marketplace for minerals, which currently lacks a legal framework for trading. The amendments would also remove existing restrictions on the sale of minerals from captive mines, allowing miners to sell their entire output in the open market, thereby encouraging investment and increasing production. The Cabinet noted that many mineral-rich countries have successfully implemented such exchanges, which are essential for developing a competitive and transparent mineral trading environment in India. The government plans to introduce these provisions in the ongoing parliamentary session.
Published: Aug 10 2025, 4 pmeznews.inPrime Minister Narendra Modi inaugurated the 19.15 km Yellow Line of Bengaluru Metro on his first visit to the city since beginning his third term, marking a significant enhancement to the city's public transport. The new line, which connects RV Road to Bommasandra through 16 stations, was built at a cost of ₹5,056.99 crore. Modi also laid the foundation for Phase-3 of the metro, a 44.65 km expansion project estimated at ₹15,611 crore. Additionally, he flagged off three new Vande Bharat Express trains, including a direct service between Bengaluru and Belagavi, aimed at improving regional connectivity. However, the event was marred by political controversy, with Deputy Chief Minister D.K. Shivakumar criticizing the central government's limited financial contribution to the metro projects, claiming the state bore 80% of the costs. This visit comes as Bengaluru solidifies its status as a BJP stronghold following recent electoral successes.
Published: Aug 10 2025, 3 pmeznews.inIndia's vast domestic market could serve as a buffer for exporters facing potential losses in the US market, according to economists. They emphasize that a rationalization of Goods and Services Tax (GST) rates is crucial to stimulate domestic consumption and mitigate the impact of declining export demand. The recent Union Budget has already increased the income tax threshold, providing citizens with more disposable income, particularly in urban areas where consumption has been sluggish. Experts advocate for a streamlined GST structure with fewer categories and a core rate of 14%, while suggesting that contentious issues, such as the inclusion of petroleum products, be deferred. Some analysts, like Ajay Bagga, argue for immediate GST cuts to pass on lower crude oil prices to consumers. However, economist Garima Kapoor warns that targeted subsidies may be more effective than broad GST reductions, which could lead to permanent revenue losses for the government.
Published: Aug 10 2025, 3 pmeznews.inAir India Express has launched a 'freedom sale' to commemorate India's 79th Independence Day, offering approximately 5 million seats at fares starting from ₹1,279 for domestic flights and ₹4,279 for international routes. Bookings are open until August 15 for travel between August 19, 2024, and March 31, 2026, coinciding with major festivals such as Onam, Durga Puja, and Christmas. The sale is accessible via the airline's website and mobile app, with broader availability through major booking channels from August 11. The airline also provides various fare options, including 'Xpress Lite' for no check-in baggage and 'Xpress Value' with standard baggage allowances. For premium travelers, 'Xpress Biz' offers a business-class experience on over 40 new aircraft. Air India Express currently operates a fleet of 116 aircraft, conducting over 500 daily flights to 38 domestic and 17 international destinations.
Published: Aug 10 2025, 3 pmeznews.inAir India Express has launched its "Freedom Sale" to commemorate India's 79th Independence Day, offering 5 million seats at fares starting from Rs 1279 for domestic flights and Rs 4279 for international routes. The sale, which begins on August 10, 2025, exclusively on the airline's website and app, will be available through major booking channels from August 11 to August 15, 2025, with travel valid from August 19, 2025, to March 31, 2026, coinciding with India's festive season. The airline also promotes its unique fare options, including the zero check-in baggage Xpress Lite and the Xpress Biz business class, which features a generous seat pitch. Additionally, Air India Express offers special fares for students, senior citizens, and armed forces personnel, while its "Tales of India" initiative showcases indigenous textile patterns on aircraft, celebrating India's cultural heritage.
Published: Aug 10 2025, 2 pmeznews.inThe Confederation of Indian Industries (CII) has called for comprehensive land reforms to enhance India's manufacturing sector, which currently contributes over 25% to the GDP, with manufacturing alone accounting for around 17%. As India aims to become a global manufacturing hub by 2047, CII emphasized the need for foundational changes in land access, cost, and regulatory processes. The industry body proposed nine specific reforms, including the establishment of a GST-like council for coordinated land governance, the creation of Integrated Land Authorities to streamline processes, and full digitization of land conversion to enhance transparency. CII also recommended rationalizing stamp duty, adopting conclusive titling systems, and developing dynamic zoning plans. Additionally, it urged the integration of environmental sustainability into reforms and the development of cross-border industrial corridors to support infrastructure and connectivity.
Published: Aug 10 2025, 1 pmeznews.inPrime Minister Narendra Modi inaugurated three new Vande Bharat Express trains at KSR Railway Station in Bengaluru on Sunday, enhancing the Indian railway network's capacity and travel experience. The new routes connect Bengaluru to Belagavi, Amritsar to Sri Mata Vaishno Devi Katra, and Nagpur to Pune. Modi also inaugurated the Yellow Line of the Bangalore Metro, which spans over 19 km with 16 stations, as part of the Metro Phase-2 project costing approximately Rs 7,160 crore. This expansion will increase Bengaluru's operational metro network to over 96 km, benefiting over eight lakh residents in the southern districts. Additionally, the Prime Minister laid the foundation stone for the Bangalore Metro Phase-3 project, valued at over Rs 15,610 crore, which will cover more than 44 km with 31 elevated stations. Modi was welcomed by Karnataka Chief Minister Siddaramaiah and is set to address a public function during his visit.
Published: Aug 10 2025, 1 pm
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