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During a Lok Sabha debate on Monday, Finance Minister Nirmala Sitharaman revealed that only four private insurance companies—Ageas Federal Life Insurance, Aviva Life Insurance, Credit Access Life Insurance, and Future Generali Life Insurance—have reached the current foreign direct investment (FDI) limit of 74%. No general or standalone health insurance firms have fully utilized this cap. Sitharaman explained that the proposed bill to increase the FDI limit aims to unlock the potential of India's insurance sector, projected to grow at 7.1% annually over the next five years. By raising the FDI limit, the government seeks to simplify the entry process for foreign investors, eliminate the need for local partners for the remaining 26%, and enhance competition, technology transfer, and insurance penetration in the country. This move is expected to attract stable foreign investment and increase the number of insurers operating in India. 
Published: Jul 28 2025, 7 pmeznews.inParadip Port Authority (PPA) has achieved a significant milestone by handling 50 million tonnes of cargo throughput within the first four months of the current financial year, marking the fastest rate in the port's history and surpassing last year's record by four days. The port's Chairman, P L Haranadh, credited the accomplishment to the dedicated workforce and strong customer support, expressing optimism for continued success. Notably, coal cargo reached 22.06 million tonnes, reflecting a modest year-on-year growth of 0.53%, while container cargo surged by an impressive 27.80%. The overall increase in cargo volume was further bolstered by a rise in crude oil and fertilizer raw material shipments, according to a recent release from the PPA. This achievement underscores the port's growing significance in the logistics and shipping sectors.
Published: Jul 29 2025, 6 pmeznews.inThe Indian government reported a significant surge in cotton imports, with volumes from Brazil increasing tenfold and those from the US doubling in the 2024-25 season, driven by high demand for extra long staple varieties. Union Minister Ramnath Thakur revealed that imports from Brazil rose from 67,805 bales valued at ₹152 crore in 2023-24 to 6,54,819 bales worth ₹1,620 crore by May 2025. Similarly, US exports grew from 2,68,728 bales valued at ₹1,361 crore to 5,25,523 bales valued at ₹1,802 crore. Overall, India imported 27 lakh bales by May 31, surpassing the total of 15.19 lakh bales for the entire previous season. In other agricultural updates, tea exports to Iran increased despite regional conflicts, while the dairy sector reported a procurement price of ₹47.70 per kg for farmers. Additionally, 10,000 farmer producer organizations (FPOs) have been registered, with a notable representation of women members.
Published: Jul 29 2025, 6 pmeznews.inThe International Monetary Fund (IMF) has revised India's growth forecast for the current fiscal year to 6.4%, a slight increase from previous estimates but still below the Reserve Bank of India's projection of 6.5%. This forecast aligns with the Economic Survey's range of 6.3-6.8%. The IMF also anticipates growth of 6.4% for fiscal years 2025-26 and 2026-27, reflecting a more favorable external environment than previously expected. However, recent forecasts from the Asian Development Bank and India Ratings & Research have lowered India's growth estimates for FY26 due to concerns over US tariffs and a weaker investment climate. Despite these challenges, the Finance Ministry's monthly economic review indicates robust domestic supply and demand, with inflation remaining within target ranges. On a global scale, growth is projected at 3.0% for 2025 and 3.1% for 2026, with inflation expected to decline to 4.2% and 3.6%, respectively.
Published: Jul 29 2025, 6 pmeznews.inIndia is bracing for potential U.S. tariffs of 20% to 25% on its exports as it navigates trade negotiations ahead of a looming August 1 deadline. While New Delhi has proposed tariff cuts on various goods and is working to reduce non-tariff barriers, it is holding off on new concessions until a U.S. delegation arrives in mid-August. The aim is to finalize a comprehensive bilateral trade agreement by September or October. U.S. Trade Representative Jamieson Greer emphasized the need for more negotiations, noting that President Trump is focused on securing favorable deals. Despite India's willingness to open parts of its market, agriculture and dairy remain off-limits, particularly concerning genetically modified imports. With bilateral trade reaching approximately $129 billion in 2024, Indian officials remain optimistic about achieving preferential access for exporters, despite the threat of increased tariffs that could disadvantage them compared to other nations.
Published: Jul 29 2025, 6 pmeznews.inThe Sriperumbudur-Oragadam cluster in Tamil Nadu is a pivotal hub for tyre manufacturing in India, producing nearly 30% of the country's annual output of 3 million tonnes. This region has attracted over ₹15,000 crore in investments from major tyre manufacturers, including Apollo Tyres, CEAT, and JK Tyre, which cater to a diverse range of vehicles. The cluster's strategic location near Chennai, coupled with excellent logistics and infrastructure, has positioned it as the largest tyre manufacturing base in India, facilitating both domestic and export markets. Hyundai Motor India sources over half of its tyres from this region, highlighting its significance in the automotive supply chain. Recent investments, such as CEAT's ₹450 crore expansion and Apollo's ₹5,500 crore commitment to Asia's largest tyre unit, underscore the area's growth potential, driven by a combination of government support, skilled manpower, and proximity to raw materials.
Published: Jul 29 2025, 5 pmeznews.inAt ₹40,000 per kilogram, Silver Tips Imperial tea from the Makaibari estate in Kurseong, Darjeeling, is a luxury steeped in tradition and meticulous care. Harvested only during specific full moon nights when celestial bodies align, the tea is plucked by hand, ensuring only the finest unopened buds are selected. This biodynamic approach, coupled with a commitment to organic farming, enhances the tea's unique flavor profile, which features notes of honey and wildflowers. The production process, overseen by experienced estate manager Sanjay Das, involves careful withering, hand-rolling, and precise oxidation to preserve the tea's delicate qualities. Makaibari, now part of the Luxmi Group, produces over 90,000 kg of tea annually, with a significant portion exported globally. The estate's rich heritage includes notable gifts to figures like Queen Elizabeth II and King Charles III, while plans for expansion include new retail outlets and a lifestyle space in Kolkata.
Published: Jul 29 2025, 5 pmeznews.inIn a significant initiative to enhance coastal resilience, a mangrove sapling plantation drive was held in the Kovalam coastal region to mark World Mangrove Day. Organised by the SRM Institute of Science and Technology (SRMIST) in collaboration with various environmental organisations, the event saw the planting of 1,350 mangrove saplings, with participation from multiple educational institutions and community volunteers. A key highlight of the drive was the introduction of the innovative ‘Bio-Roll’ technique, developed by the NGO NEEDS, which aims to improve sapling survival rates, combat coastal erosion, and restore degraded shorelines. This initiative not only addresses climate change but also aligns with Sustainable Development Goals (SDGs) by promoting community-based conservation efforts. The drive underscored the vital role of mangroves in protecting coastal ecosystems, enhancing biodiversity, and serving as natural buffers against extreme weather, thereby ensuring the sustainability of coastal regions.
Published: Jul 29 2025, 5 pmeznews.inA recent audit by India's Directorate General of Civil Aviation (DGCA) has uncovered 51 safety lapses at Air India, including inadequate pilot training, the use of unapproved simulators, and a flawed rostering system. The 11-page report, which is not linked to last month's tragic Boeing 787 crash that claimed 260 lives, highlights seven significant breaches requiring immediate attention by July 30, alongside 44 other non-compliances due by August 23. The audit revealed recurrent training gaps for some Boeing 787 and 777 pilots and criticized the airline's failure to conduct proper route assessments for challenging airports. Air India, owned by the Tata Group, has faced scrutiny for operational issues, including exceeding flight-duty limits and insufficient cabin crew on international flights. The airline has pledged to respond to the regulator with corrective actions. Last year, Air India was involved in 11 of 23 safety violation warnings or fines issued to airlines.
Published: Jul 29 2025, 4 pmeznews.inTyre exports from India to the UK reached ₹732 crore in FY25, marking an 11% increase from the previous year, according to the Automotive Tyre Manufacturers’ Association (ATMA). The recent signing of the Comprehensive Economic and Trade Agreement (CETA) between India and the UK has eliminated all customs duties on tyres and rubber products, enhancing price competitiveness and market access for Indian manufacturers. Arun Mammen, ATMA Chairman, emphasized that this move will bolster the already strong export momentum and deepen India's presence in developed markets. The agreement also includes a staggered tariff liberalisation schedule for UK tyre imports into India, allowing for gradual duty reductions over ten years, thus balancing export opportunities with domestic industry protection. With the Indian tyre sector already exporting over ₹25,000 crore in FY2024-25, the CETA is expected to further accelerate growth in this key market.
Published: Jul 29 2025, 4 pmeznews.inIn a recent report by UBS Securities, it is projected that overall household consumption in India will begin to rise over the next two to three quarters, driven by strengthening rural demand. Factors such as softened inflation, a favorable crop outlook due to good monsoons, and a $20 billion social welfare initiative aimed at women are expected to bolster rural consumption. While urban consumption is anticipated to stabilize, aided by RBI rate cuts and a $10 billion policy stimulus, the report cautions that a broad-based recovery remains uncertain, as rural consumption constitutes less than half a percentage of total consumption. Notably, rural consumer sentiment has improved, with significant increases in two-wheeler and tractor sales. However, urban demand indicators, including passenger car sales, showed a decline in the June quarter, despite stable consumer sentiment. The implementation of the eighth pay commission in 2026 is expected to further support urban demand.
Published: Jul 29 2025, 4 pm
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