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In a significant move for Sri Lanka's aviation sector, the cabinet has approved a proposal to hand over the management of Mattala Rajapaksa International Airport to Shaurya Aeronautics Pvt. Ltd. of India and Airports of Regions Management Company of Russia, or an affiliated company, for a 30-year period. This decision marks a shift towards international oversight of the airport's operations. The move comes after the cabinet gave the green light to a proposal submitted by the Minister of Aviation, following a call for Expressions of Interest (EOI) from interested parties. Five institutions submitted offers, with the selected companies set to manage the airport for the foreseeable future. This development signals a new chapter for Sri Lanka's aviation industry, with international players taking the reins at Mattala Rajapaksa International Airport. 
Delhi-based IG Drones, led by founder and CEO Bodhisattwa Sanghapriya, is collaborating with the Kerala Government to train a drone workforce for Gulf countries, particularly in agriculture. Sanghapriya highlighted the potential for drone data analysis to create a large processing workforce in India, similar to the satellite imagery analysis sector. IG Drones has trained 10,000 farmers in drone technology and aims to upskill 10 million youth. The company's drones, integrated with 5G technology, offer autonomous operation for precision farming. Sanghapriya noted the role of ITI students in the drone industry, with increased income and dignity. The company is expanding to Dubai and MENA region, mentoring institutes in drone technology. With policies supporting drone adoption, drones are used for monitoring crops, irrigation, and terrain mapping, with FPOs procuring drones and receiving incentives from the government.
NLC India is embarking on a corporate strategy to expand its presence in coal and lignite mining, thermal power plants, renewables, and energy storage, with an investment exceeding ₹90,000 crore by 2030. The company aims to transform into an integrated clean energy giant, focusing on solar and wind power, energy storage systems, green hydrogen, and more. Plans include increasing thermal power capacities to 11.14 GW, adding renewables to reach 6.97 GW, and boosting mine output to 102.5 MTPA by 2030. Additionally, NLC India plans to monetize its renewable energy assets through an IPO, targeting ₹5,000 crore for expansion. The company's efforts align with a broader shift towards sustainable energy practices and technological advancements in the energy sector.
India, the world's second-largest sugar producer, has banned sugar exports since June 2022 to ensure local consumption and divert sucrose to ethanol production. The government is still deliberating on whether to allow exports this year, with Secretary of Food and Public Distribution, Sanjeev Chopra, stating that a decision will take several months. Chopra emphasized the priority of ethanol production over exports, with the government requiring guarantees of sufficient sugar for local demand and ethanol production before considering exports. The Indian Sugar Mills Association (ISMA) has requested permission to export 2 million metric tons, but a response is pending. ISMA estimates that India will have 9 million tons of sugar available for consumption and exports by the end of the current season in September.
Air India Express has terminated 25 cabin crew members following a mass sick leave incident that disrupted flight operations, affecting over 95 flights and 10,000 passengers. The airline deemed the sick leave a pre-meditated and unjustifiable abstention from work, leading to the immediate termination of employees violating service rules. CEO Aloke Singh announced plans to reduce flight operations in response to the disruptions caused by the sick leave, emphasizing that the actions of a few do not represent the dedication of the majority of cabin crew members. The Ministry of Civil Aviation has requested a detailed report from Air India Express and urged the airline to promptly resolve issues and ensure passengers are provided with facilities as per DGCA norms.
Godrej Agrovet Ltd (GAVL) reported a significant 187 per cent growth in net profits for the March quarter of FY24, reaching ₹66 crore compared to ₹23 crore in the same period last year. The company's revenue for the quarter also saw a 4.7 per cent increase, totaling ₹2194 crore. For the full fiscal year, GAVL reported a 21.7 per cent rise in net profits at ₹359 crore, with revenue up 2 per cent at ₹9,561 crore. The growth was attributed to strong performances in the domestic crop protection business, dairy business turnaround, and increased market share in animal feed. Despite challenges in the vegetable oils and Astec Lifesciences sectors, Godrej Agrovet remains committed to long-term sustainability goals. The company's shares rose by 3.27 per cent to close at ₹581 on the NSE.
nurture.retail, a B2B agri-input marketplace, has expanded its reach to three more states, totaling 14 states across India. With over one lakh agri retailers on its platform and 20,000 added last year, the company offers a wide range of products across various categories. Head of nurture.retail, Ankit Laddha, reported a 1.5 times growth in agri-input sales and a 38% revenue increase. The company's mission is to support rural agri-retailers by providing world-class products and comprehensive support, including access to credit, insurance, and ledger facilities. The logistic network ensures timely delivery even in remote areas, while fast and secure pay-outs facilitate smooth financial transactions. Monthly active users have increased to around 40,000, highlighting the platform's success in empowering retailers and fulfilling its mission.
The 16th Finance Commission, chaired by Arvind Panagariya, has called for public input on its terms of reference, with a deadline of October 31, 2025, for submitting its report to the President. The commission, which includes members such as Ajay Narayan Jha and Annie George Mathew, aims to review disaster management funding and tax devolution between the Centre and States. Suggestions can be made through their website, and the report will cover a five-year period starting from April 1, 2026. This constitutional body plays a crucial role in advising on financial relations between the Centre and States, following the recommendations of the previous 15th Finance Commission led by NK Singh.
The Airports Economic Regulatory Authority (AERA) is set to propose tariff revisions for user development fees at Adani-owned Mumbai International Airport Ltd (MIAL) and GMR-owned Delhi International Airport Ltd (DIAL). This marks the first time Mumbai Airport will propose such a fee under Adani Airports' management. The tariff revision was initially set to end on March 31, 2024, but has been extended to September 30, 2024, for both airports. S&P Global has upgraded Delhi International Airport to 'BB-' with a positive outlook, anticipating significant cash flow improvement due to higher tariffs in the upcoming fourth control period. The review coincides with the expected operationalization of secondary airports in Noida and Navi Mumbai, which could impact user development fees at established airports. Mumbai Airport continues to lead in passenger traffic for Adani Airports, with plans to shift towards a higher non-aeronautical revenue ratio in the future.
A joint paper submitted to the WTO's Committee on Agriculture by the US and Australia has raised concerns about India's sugarcane subsidies, stating that they exceeded the permissible level set out in the WTO's Agreement on Agriculture. The report, based on data from 2018-22, revealed that India's sugar subsidies consistently surpassed 90% of the production value, far exceeding the allowed 10%. India, however, rejected the methodology used in the report, arguing against the classification of its Fair and Remunerative Price (FRP) and State-Advised Prices (SAPs) as market price support. With the WTO's Appellate Body currently non-functional, decisions on appeals are on hold. The US-Australia analysis highlighted India's Market Price Support figures for 2018-22, indicating a significant discrepancy between the subsidies provided and the permitted levels.
The Indian Pilots' Guild has taken legal action by urging the Delhi High Court to overturn the Directorate General of Civil Aviation's decision to indefinitely postpone the implementation of the revised flight duty time rule, which was set to increase the weekly rest period for pilots from 36 to 48 hours. The rule, initially scheduled to take effect on June 1, faced objections from airlines leading to its delay. The court has been asked to direct the aviation regulator to provide a specific date for the enforcement of the new rules. Writ petitions challenging previous regulations were discussed in court, with the matter being adjourned to July 9 at the request of the DGCA. The court had previously requested a tentative date for implementing the revised duty time norms, prompting the regulator to seek input from airlines on a timeline for preparing for the new rules.
