eznews.inA recent report by Crisil Ratings highlights that the implementation of a uniform 5% Goods and Services Tax (GST) on apparel priced below ₹2,500 is expected to enhance revenue growth for organised apparel retailers by approximately 200 basis points this fiscal year, maintaining a steady topline growth of 13-14%. This shift from a dual GST structure—5% for items under ₹1,000 and 12% for those between ₹1,000 and ₹2,500—has broadened the consumption base, particularly benefiting the mid-premium and fast fashion segments. However, the increase in GST from 12% to 18% on apparel above ₹2,500 has negatively impacted premium categories, which constitute about 35% of organised sales. The timing of the GST cut coincides with the festive season, likely boosting demand as middle-class spending rises. Retailers may absorb some of the GST hike on premium items to sustain demand during this peak buying period. 
Published: Oct 20 2025, 8 pmeznews.inThe Reserve Bank of India (RBI) has acknowledged the challenges posed by global economic fluctuations, noting that the Indian economy remains resilient amid these pressures. In its latest monthly bulletin, the RBI raised its growth forecast for India to 6.8% for the current year, citing low inflation and robust corporate and banking balance sheets as key factors. Despite external uncertainties, the report emphasized that domestic structural reforms are helping to mitigate the impact of weakening global demand. Additionally, while India faces punitive tariffs on exports to the U.S., linked to President Trump's demands regarding Russian oil purchases, the RBI downplayed the overall impact of these tariffs on growth. However, it did note a significant decline in exports to the U.S. in September as the tariffs took effect. The report also highlighted that current macroeconomic conditions provide room for further policy measures to support growth.
Published: Oct 20 2025, 8 pmeznews.inA recent report by Grant Thornton highlights the transformative potential of the Free Trade Agreement (FTA) between the UK and India, with 72% of UK businesses now viewing India as a crucial market for international growth, up from 61% last year. The India-UK Comprehensive Economic and Trade Agreement (CETA), signed during Prime Minister Narendra Modi's visit in July, is anticipated to bolster the £44.1 billion bilateral trade once ratified by the British Parliament. Currently, only 28% of UK firms operate in India, but 73% of those without a presence plan to enter the market, with 13% aiming to do so within the next year. Key drivers for this interest include India's fast-growing economy and large consumer market. However, challenges such as regulatory hurdles and infrastructure gaps remain. The report underscores the importance of local insight and adaptability for UK businesses seeking success in India’s dynamic market.
Published: Oct 20 2025, 5 pmeznews.inIndia is navigating a complex diplomatic landscape as it seeks to strengthen ties with both the United States and Russia while pursuing a significant trade deal with President Donald Trump. During a recent press conference, Trump indicated that Prime Minister Narendra Modi had suggested India would cease purchasing oil from Russia, a key US demand. However, India's response was non-committal, emphasizing its need for cost-effective energy sources. Currently, India imports about a third of its oil from Russia, and a complete halt is deemed impractical. Indian refiners are expected to increase imports of US liquefied petroleum gas, potentially boosting US oil purchases by $15 billion. Despite previous tensions over Russian oil purchases, recent discussions between Modi and Trump have rekindled hopes for a trade agreement. Analysts suggest that any thaw in US-Russia relations could provide Modi with greater flexibility in balancing these crucial partnerships.
Published: Oct 20 2025, 4 pmeznews.inIndia has reported significant progress in trade negotiations with the United States, aiming to finalize a trade deal and reduce punitive tariffs. An unnamed Indian official indicated that the two nations have resolved most trade-related differences, following positive discussions in Washington last week. This comes after US President Donald Trump, who previously imposed 50% tariffs on India and criticized its oil purchases from Russia, has recently softened his stance. Trump claimed that Prime Minister Narendra Modi assured him India would gradually cease buying Russian oil, a statement that India's foreign ministry later denied. Despite this, Indian officials have indicated a willingness to increase oil imports from the US. Currently, Russian crude constitutes about one-third of India's oil imports, a situation that has persisted despite US efforts to limit these flows since the onset of the Ukraine war in 2022.
Published: Oct 20 2025, 2 pmeznews.inA recent study by the Apollo Tyres Foundation underscores the critical role of Indian truckers in the logistics sector, revealing the significant challenges they face. The research, titled "Truckers: The Backbone of the Trucking Supply Chain," highlights that drivers cover over 450 km daily, with 52% driving for more than 10 hours, raising concerns about fatigue and road safety. Interviews with 852 truck drivers and 30 stakeholders revealed that 77% would not recommend the profession to their children due to long absences from home and demanding hours. The study advocates for improved working conditions through supportive policies, technology adoption, and innovative business models, including digital sleep monitoring, as 74% of drivers own smartphones. With a projected increase in trucks to 17 million by 2050, addressing the driver shortage and enhancing their well-being is crucial for the industry’s future sustainability.
Published: Oct 20 2025, 6 ameznews.inTej Contractor, Director of MCC Container Lines Pvt Ltd in Mumbai, has been elected Vice-President of the International Federation of Freight Forwarders Associations (FIATA), a prominent non-governmental organization representing the global freight forwarding sector. His election marks a significant milestone, as he follows in the footsteps of his father, Mayur C Contractor, who held the same position in 2001. Tej expressed his gratitude for the honor, reflecting on the legacy of leadership within his family in the freight forwarding industry. FIATA plays a crucial role in advocating for the interests of freight forwarders worldwide, and Contractor's appointment is expected to enhance India's representation in global logistics discussions. The announcement was made on October 20, 2025, highlighting the ongoing evolution and significance of the freight forwarding industry in international trade.
Published: Oct 20 2025, 6 ameznews.inThe International Air Transport Association (IATA) has launched a campaign to educate passengers on the safe transport of lithium batteries aboard aircraft. Key safety tips include packing only essential devices, reporting any overheating or damaged items to crew members, and ensuring that battery-powered devices are kept in hand luggage rather than checked baggage. Additionally, spare batteries and power banks should be stored in their original packaging or have their terminals taped to prevent short-circuits. In related news, Cathay Cargo has become the first airline to offer real-time customs clearance updates through its EzyCargo platform, utilizing the IATA ONE Record data protocol. This innovation allows customs authorities to be integrated into the communication process, ensuring compliance with pre-load advanced cargo information (PLACI) requirements and facilitating smoother shipment releases upon arrival.
Published: Oct 20 2025, 6 ameznews.inThe New Mangalore Port Authority (NMPA), under Chairman AV Ramana since 2019, is implementing various initiatives to enhance cargo handling and sustainability as it marks its 50th year. In an interview, Ramana highlighted a significant increase in cargo handling, reaching 46.7 million tonnes in 2024-25, with a projected profit after tax of ₹550 crore by 2025-26. Key technological advancements include automated systems for attendance and dock entry, improving efficiency and security. However, poor road connectivity, particularly through the Sampaje and Shiradi ghats, remains a challenge, limiting cargo flow during monsoon months. Ramana anticipates that once these roads are upgraded by November 2026, cargo handling could rise significantly. The port is also focusing on sustainability, being fully solar-powered and implementing rainwater harvesting and electric vehicles. With ongoing developments, Ramana expresses optimism for the port's future growth and its role in regional industrialisation.
Published: Oct 20 2025, 6 ameznews.inThe Deendayal Port Authority (DPA) in Gujarat is re-evaluating its ambitious plan to develop a world-class shipbuilding cluster on over 2,000 acres of coastal land, initially aimed at constructing very large crude carriers (VLCCs). Following a lack of industry interest that led to the cancellation of its tender, the DPA is now shifting its focus to more market-aligned vessel sizes, specifically panamax and handymax ships. Chairman SK Singh stated that the DPA is engaging a consultant to restructure the tender and attract a technology partner, while also offering incentives such as land and environmental clearances. The Indian government has introduced a comprehensive ₹69,725 crore strategy to bolster the shipbuilding sector, which includes financial assistance schemes and a Maritime Development Fund. The revised tender is expected to be ready in three months, as the project awaits renewed investment interest amid competition from dominant shipbuilding nations like China and South Korea.
Published: Oct 20 2025, 6 am
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