eznews.in
The Southwest monsoon has covered the entire country by June 29, 2025, nine days ahead of the normal schedule and marking the earliest full coverage in five years, according to the Indian Meteorological Department (IMD). This year, the monsoon's early arrival is expected to accelerate Kharif sowing, which has already seen a 10% increase in acreage compared to last year. The IMD noted that the monsoon has only fully covered India in June six times over the past 25 years, with the earliest instance occurring on June 16, 2013. Current rainfall across the country stands at 170.3 mm, 8% above the long-term average, although some regions, including parts of Andhra Pradesh and Bihar, remain deficient. As farmers prepare for the crucial July sowing period, the IMD forecasts a total monsoon rainfall of 108% of normal for the season. 
Published: Jun 29 2025, 2 pmeznews.inIndia's business aviation sector is experiencing significant growth, driven by an increase in high net worth individuals (HNIs), the global expansion of Indian corporations, and supportive reforms such as aircraft leasing through Gift City in Gujarat. According to a report by Asian Sky Group, the number of business jets in India rose by 12% in 2024, making it the highest in the Asia Pacific region, with a total of 168 jets. This positions India as the third-largest business jet fleet in the region, following China and Australia. Major manufacturers like Gulfstream and Bombardier are optimistic about the market, citing rising interest in their long-range aircraft. However, challenges remain, including a preference for pre-owned jets due to lower costs and lengthy wait times for new models. The Business Aircraft Operators Association is advocating for reforms to enhance the owner-operator model and promote fractional ownership, which could further stimulate market demand.
Published: Jun 29 2025, 6 pmeznews.inBoeing's recent production improvements are fostering stability within the aerospace supply chain, according to Fitch Ratings. The company's increase in aircraft deliveries is enhancing confidence among suppliers and airlines, facilitating better fleet planning and financing, and creating a more predictable operational environment. Following the resolution of the 2024 machinist strike and management changes, Boeing has ramped up 737 MAX production to the mid-30s per month, with expectations to reach 38 by the third quarter of 2025. The clearance of legacy inventory has also bolstered cash generation and operational efficiency. Additionally, a $24 billion equity raise and a pending $10.55 billion sale of Jeppesen are expected to provide Boeing with increased financial flexibility. Meanwhile, a joint event at the International Maritime Organization emphasized the need for fair treatment and respect for the human rights of seafarers, highlighting the importance of their well-being to global trade.
Published: Jun 29 2025, 7 pmeznews.inIn a significant move towards sustainability, the Deendayal Port Authority (DPA) in Gujarat has ordered India's first electric tugboat as part of the Green Tug Transition Programme (GTTP), initiated by the Union Ministry of Ports, Shipping and Waterways. The contract, awarded to Netincon Marketing Pvt Ltd, involves a 60-tonne bollard pull capacity tugboat to be chartered for 15 years at a daily rate of ₹6.3 lakh. The GTTP aims to invest around ₹1,000 crore in green tugs, with a phased launch starting October 2024, requiring major ports to procure at least two green tugs each. By 2040, the government plans to transition all major port tugs to eco-friendly variants, aligning with the Maritime India Vision 2030, which targets a 30% reduction in carbon emissions per tonne of cargo. Currently, Kandla port sources 82% of its energy from renewables, while other ports are at varying levels of renewable energy usage.
Published: Jun 29 2025, 7 pmeznews.inThe Indian government is actively working to enhance the appeal of Special Economic Zones (SEZs) to attract investments in high-growth sectors such as green hydrogen, air cargo, maintenance, repair, and overhaul (MRO), and space exploration. A source indicated that the government aims to address idle capacity and available land by relaxing SEZ regulations tailored to the specific needs of these sectors. Recent reforms have already been implemented for semiconductor and electronics manufacturing, allowing for more flexible Net Foreign Exchange calculations and domestic market supply conditions. Proposed changes for green hydrogen include permitting SEZ units to sell power externally and modifying land contiguity requirements. The Commerce Department is also seeking to amend the SEZ Act to make the policy more investor-friendly, particularly following the expiration of direct tax benefits and the introduction of minimum alternate tax. These adjustments are seen as crucial for fostering significant investment proposals.
Published: Jun 29 2025, 4 pmeznews.inHigh and rising public debt levels are heightening the financial system's vulnerability to interest rate fluctuations, limiting governments' capacity to respond to crises, according to a report from the Bank for International Settlements (BIS). Outgoing BIS head Agustín Carstens warned that ongoing trade tensions and geopolitical strife are exposing significant weaknesses in the global economy, which is at a "pivotal moment" marked by increased uncertainty. The report, released ahead of a critical U.S. trade tariff deadline, highlights concerns over rising protectionism and its detrimental effects on economic growth. Additionally, the dollar has fallen 10% this year, marking its largest first-half decline since the 1970s, although BIS economic adviser Hyun Song Shin noted that it is premature to conclude a major shift away from U.S. assets. The BIS also reported a record profit, emphasizing the importance of maintaining high creditworthiness amid these challenges.
Published: Jun 29 2025, 3 pmeznews.inIndian auto industry representatives are still awaiting formal approval from the Chinese commerce ministry to travel to China for crucial meetings regarding the import of rare earth magnets, essential for electric vehicles and other technologies. Despite around 40-50 executives having received visas last month, no appointments have been granted, leaving the delegation in limbo. The situation is dire, with industry sources warning of potential production losses due to shortages, as China has imposed strict export restrictions since April on seven rare earth elements, requiring special licenses for shipments. India relies heavily on China for these materials, sourcing over 80% of its 540 tonnes of magnet imports last fiscal year. As of May 2025, numerous import requests from Indian companies remain unapproved by Chinese authorities, exacerbating concerns over supply chain disruptions in the domestic automobile sector.
Published: Jun 29 2025, 1 pmeznews.inThe Indian decorative paints industry is grappling with intense competition and aggressive pricing strategies from both new entrants and established players, impacting sales and margins in FY25. Major companies like Asian Paints, which commands over 50% of the market, reported a 5.7% decline in value despite a 2.5% increase in volume, attributing this to subdued urban demand and a shift towards more affordable options. Kansai Nerolac and Berger Paints echoed similar concerns, noting that while rural demand showed resilience, urban markets remained flat. However, optimism for FY26 is emerging, with expectations of modest growth driven by favorable macroeconomic conditions, rising urbanization, and increased construction activities. The market, currently valued at $9.60 billion, is projected to grow to $15.04 billion by 2029, bolstered by government initiatives and a shift towards eco-friendly products.
Published: Jun 29 2025, 1 pmeznews.inA recent report by Cushman & Wakefield highlights significant shortcomings in the Indian government's skill and talent initiatives for Micro, Small and Medium Enterprises (MSMEs), with 71% of small firms reporting no benefits from government-run training programs. The survey found that while 39% of MSMEs acknowledged receiving some advantages, 61% felt excluded from these initiatives. Despite MSMEs employing 80% of the manufacturing workforce and contributing 40% of the sector's output, productivity remains low, with workers generating only 14% of what their counterparts in larger firms do. The government has allocated ₹2,500 crore for sector-specific industrial parks to enhance operational efficiency and attract foreign investment. However, challenges such as high logistics costs, inadequate warehousing, and skill gaps persist, threatening the long-term competitiveness of the sector. Experts emphasize the need for improved infrastructure and productivity measures to convert policy efforts into tangible outcomes.
Published: Jun 29 2025, 12 pmeznews.inIndia's ban on ships carrying Pakistani goods, implemented on May 2, 2025, following a terror attack in Pahalgam, has significantly disrupted trade relations between the two countries. The ban has led to increased freight charges and extended transit times, with Pakistani importers reporting delays of 30 to 50 days as they shift from mother vessels to more costly feeder vessels. While exporters have noted a rise in shipping and insurance costs, the overall impact on exports remains limited, according to industry representatives. The deteriorating trade ties, which have been strained since the Pulwama attack in 2019, have seen bilateral trade plummet from $2.41 billion in 2018 to just $1.2 billion in 2024. Pakistan's exports to India have also drastically declined, highlighting the broader economic implications of the ongoing tensions and supply chain disruptions.
Published: Jun 29 2025, 12 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact