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India's first bullet train service, set to connect Mumbai's Bandra Kurla Complex (BKC) with key cities in Gujarat, including Vapi, Surat, Anand, Vadodara, and Ahmedabad, is expected to commence soon, according to Railway Minister Ashwini Vaishnaw. The high-speed train will operate at 320 km per hour, significantly reducing travel time between Mumbai and Ahmedabad to just two hours and seven minutes. During a virtual event from Bhavnagar, where he flagged off several new express trains, Vaishnaw highlighted ongoing railway projects in Gujarat and the rapid progress made under the Modi government, which has seen the laying of 34,000 km of new tracks over 11 years. He also noted the redevelopment of 1,300 railway stations and the introduction of new train services, including the Vande Bharat Express and Amrit Bharat Express, aimed at enhancing passenger experience with modern technology. 
Published: Aug 03 2025, 2 pmeznews.inDP World has launched two new domestic rail services connecting Bhimasar and Hazira in Gujarat to Kolkata, aimed at enhancing cargo movement between western manufacturing hubs and eastern trade centers. The Bhimasar-Kolkata service will operate bi-monthly with an 8-day transit time and a capacity of 90 TEUs, while the Hazira-Kolkata service will also run twice a month, completing its journey in 7 days. These routes will primarily transport edible oils, chemicals, steel, industrial goods, food grains, and salt. Adhendru Jain, Vice President of Rail and Inland Terminals at DP World Subcontinent, emphasized the importance of these services in linking Gujarat's manufacturing base with Kolkata, facilitating smoother supply chains. This initiative is part of DP World’s $207 million investment in Indian rail freight solutions, which includes a robust network of inland terminals and a significant container terminal at Mundra, further bolstering regional trade connectivity.
Published: Aug 05 2025, 4 pmeznews.inSince the beginning of fiscal year 2025, India's Nifty index has seen a 10% increase, despite ongoing challenges in corporate earnings. The April-to-June quarter continued a trend of lackluster performance, with aggregate profit growth for 38 of the Nifty 50 firms at just 7.5%, according to Motilal Oswal Financial Services. While the Indian economy is projected to grow at 6.5% this year with low inflation, sectors such as banking and IT are grappling with weak domestic and global demand. Analysts have downgraded full-year earnings estimates for many companies, reflecting a broader slowdown in nominal GDP growth, which is expected to remain below 10% for a third consecutive year. Experts suggest that a meaningful recovery may not occur until the second half of FY2026, contingent on improved credit growth and rural demand, leaving market benchmarks likely rangebound in the interim.
Published: Aug 05 2025, 3 pmeznews.inAgritech firm Cropin has secured a €700,000 contract under EIT Food’s Impact Funding Framework to launch its AI-driven initiative, FIRST Potato, aimed at promoting regenerative practices in potato farming across Europe. The project will establish a consortium of food processors, research institutions, and sustainability experts to facilitate the shift from conventional to regenerative agriculture. Cropin's decision support system integrates real-time data from various sources to provide tailored daily advisories to farmers, optimizing irrigation and input usage while enhancing soil health. The initiative will validate its effectiveness through pilot farms in Denmark and commercial trials with potato processors in Germany and the UK. CEO Krishna Kumar emphasized the importance of measurable outcomes in regenerative agriculture, stating that FIRST Potato aims to help farmers adopt climate-smart practices that are both profitable and scientifically validated, ultimately benefiting the entire agri-food ecosystem.
Published: Aug 05 2025, 3 pmeznews.inNew Delhi has defended its trade relationship with Russia, dismissing criticism from the US and European Union as "unjustified and unreasonable." Indian officials are facing challenges in engaging with the Trump administration due to numerous key foreign policy positions remaining unfilled, complicating efforts to secure a favorable trade deal. The urgency for New Delhi to advocate its position has intensified following the imposition of a 25% tariff by the US, which President Trump has threatened to increase due to India's continued purchase of Russian oil. The US claims that such transactions are funding Russia's war against Ukraine. India countered that the EU and US also engage in trade with Russia, questioning the consistency of their stance. The absence of critical roles, including the Assistant Secretary for South and Central Asian Affairs and the US Ambassador to India, has further strained bilateral relations, with the US National Security Council's downsizing exacerbating the situation.
Published: Aug 05 2025, 3 pmeznews.inIndia is poised to enhance its role in the global economy over the coming decades, according to a recent Morgan Stanley report. The analysis highlights expectations of rising credit to GDP and an increased share of manufacturing in the economy, driven by strong foundational factors such as robust population growth, a functioning democracy, and improved infrastructure. The report predicts that India will emerge as the world's most sought-after consumer market, undergo a significant energy transition, and achieve a primary surplus within three years. While the stock market shows sustained demand due to improved macroeconomic stability, caution remains due to weak foreign portfolio investor positioning and potential risks from global economic slowdowns, geopolitical tensions, and rising oil prices. Despite these challenges, Morgan Stanley expresses confidence in India's long-term economic prospects, suggesting that the country could perform well in a global bear market.
Published: Aug 05 2025, 3 pmeznews.inDuring a ceremonial reception at Rashtrapati Bhavan in New Delhi, Prime Minister Narendra Modi and President Droupadi Murmu welcomed Philippines President Ferdinand Marcos Jr. and his wife, Louise Marcos, on Tuesday. The leaders announced a significant elevation of India-Philippines relations to a strategic partnership, alongside plans to initiate a bilateral preferential trade agreement (PTA) aimed at enhancing two-way trade, which has surpassed $3 billion annually. Modi emphasized the urgency of reviewing the India-ASEAN free trade agreement (FTA) to further strengthen economic ties, while Marcos Jr. noted that India is now the Philippines' fifth strategic partner, reflecting the deepening of their 75-year relationship. Both leaders discussed collaboration in defense and security, highlighting ongoing projects like the BrahMos missile system. The move comes amid challenges posed by tariffs imposed by the Trump administration, affecting trade dynamics with the US.
Published: Aug 05 2025, 3 pmeznews.inThe Indian Income Tax department is investigating US trading firm Jane Street for potential violations of tax laws, specifically regarding profits booked through its Singapore entities from derivative trades in the Indian market. This inquiry follows a temporary ban imposed by the Securities and Exchange Board of India (SEBI), which accused Jane Street of manipulating stock indexes. Sources indicate that Jane Street staff have not been cooperating with the investigation. The tax authorities are examining whether the firm exploited the Double Taxation Avoidance Agreement (DTAA) between India and Singapore to evade taxes, potentially breaching the General Anti-Avoidance Rules (GAAR). Jane Street has denied SEBI's allegations but has not publicly commented on the tax probe. The investigation could lead to a tax demand if breaches are confirmed, as authorities seek access to the firm's overseas accounts. SEBI has provided the tax department with profit and loss details for several Jane Street entities.
Published: Aug 05 2025, 2 pmeznews.inAdani Ports and Special Economic Zone (APSEZ) reported a 6.5% year-on-year increase in profits, reaching ₹3,310 crore in the first quarter of the financial year 2025-26, driven by robust growth in its ports, logistics, and transportation sectors. The company’s revenue from operations surged 31% to ₹9,126 crore, with significant contributions from port and SEZ activities, which rose by 10% to ₹7,653 crore, and logistics, which skyrocketed by 131% to ₹1,515 crore. Amid ongoing regional tensions, Haifa port in Israel continued to operate smoothly, achieving a 25% increase in container volume. In a significant leadership change, Gautam Adani has been re-designated as Non-Executive Chairman, effective August 5, 2025, stepping down from his role as Executive Chairman. APSEZ's cargo volume grew by 11% to 121 million tonnes, enhancing its all-India market share to 27.8%.
Published: Aug 05 2025, 2 pmeznews.inCoconut oil and copra prices, which reached record highs in July, have begun to decline, with wholesale rates in Kochi dropping to ₹379 per kg for coconut oil and ₹240 for copra. Thalath Mahmood of the Cochin Oil Merchants Association noted that the decrease is largely due to increased copra arrivals from Tamil Nadu and Karnataka, where the harvest season has commenced. Retail prices remain high, ranging from ₹450 to ₹500 per kg, prompting consumers to seek cheaper alternatives like palmolein and sunflower oil. Despite a recent reduction in import duties on crude vegetable oils, coconut oil prices have remained relatively unaffected. In response to rising costs, Kerala's Minister of Food and Civil Supplies announced a subsidised distribution of coconut oil at ₹349 per litre through Supplyco outlets, aimed at alleviating the financial burden on consumers ahead of the Onam festival.
Published: Aug 05 2025, 2 pmeznews.inGro Digital Platforms, a joint venture between Ashok Leyland and Hinduja Leyland Finance, has signed a memorandum of understanding with IDFC FIRST Bank to introduce FASTag services for fleet owners across India. This collaboration aims to create a more intelligent and connected logistics ecosystem by enhancing digital efficiency and promoting smarter mobility in fleet operations. Gro Digital Platforms will leverage Ashok Leyland’s dealer network to promote FASTag, which is expected to streamline operations for fleet partners. Mudasar Mohamed, CEO of Gro Digital Platforms, emphasized that this partnership aligns with their vision of developing a technology-driven integrated road freight platform. Additionally, IDFC FIRST Bank will utilize Gro Digital Platforms’ 'Sadak Ka Saathi' programme to provide comprehensive roadside assistance to eligible commercial vehicle FASTag customers, marking a significant advancement in seamless mobility solutions.
Published: Aug 05 2025, 2 pm
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