eznews.inGreen Aero, a deep tech startup incubated at IIT Delhi, has secured $1.6 million in seed funding led by _pi_ Ventures, with contributions from Antler. The investment will support the development and testing of hydrogen-powered, high-efficiency engines for aerospace, naval, and supersonic applications, as the company aims to commercialise its first small-category engine within the next year. Founded in late 2023 by Dr. Prithwish Kundu, a former research scientist at the US Department of Energy, Green Aero seeks to make India self-reliant in propulsion technology while promoting sustainable aviation. The company recently achieved a milestone by firing the country’s first hydrogen-powered aero engine core, dubbed ‘The Blue Dragon’. With a vision to deliver double the efficiency of current models, Green Aero is also exploring green hydrogen-based engines as a zero-emission alternative to traditional aircraft propulsion, while pushing the boundaries of supersonic propulsion technology. 
Published: Jul 09 2025, 11 ameznews.inTATA AutoComp Systems and Škoda Group have unveiled a joint venture to produce railway propulsion systems and components in India, supported by a multi-million-euro investment. This collaboration aims to bolster the burgeoning Indian railway and mobility markets, with TATA AutoComp seeking to diversify its portfolio and enhance its capabilities in the railway and metro sectors. The new entity will manufacture converters, drives, and auxiliary converters for medium high-speed and regional trains, as well as metros and light rail vehicles, with operations based in India. TATA AutoComp Vice-Chairman Arvind Goel emphasized that the partnership will introduce advanced electrical propulsion systems, while Škoda Group CEO Petr Novotny highlighted the venture as a means to bring proven European technology and expertise to the Indian market. The initiative is expected to yield significant economic and technological benefits for the region.
Published: Jul 09 2025, 11 ameznews.inThe global rice market is experiencing a downturn, with the Food and Agriculture Organisation's (FAO) rice price index nearing a five-year low, currently at 105.5 points—down 22% year-on-year. Prices for Thailand's 5% broken white rice have fallen below $400 per tonne, reflecting subdued demand amid high inventories in African countries. However, projections for rice production in the 2025-26 season are optimistic, driven by favourable weather, particularly in India, which is expected to achieve its largest harvest on record. The Indian monsoon has arrived early, contributing to a 15% surplus in rainfall and a 7.4% increase in paddy area. Despite these positive forecasts, the market remains bearish, with analysts noting a lack of demand and downward revisions to price expectations, influenced by India's recent easing of export restrictions. The USDA and BMI also report increased production forecasts for Bangladesh, Pakistan, and Vietnam, offsetting declines in Iraq and the US.
Published: Jul 09 2025, 9 ameznews.inA preliminary report on the Air India Boeing 787-8 Dreamliner crash, which claimed 260 lives on June 12, is expected to be released by Friday, according to sources familiar with the investigation. The aircraft, bound for London, crashed shortly after takeoff from Ahmedabad, killing 241 of the 242 passengers and crew on board, as well as others on the ground. Investigators are focusing on the engine fuel control switches and the flight data recorders, with early findings suggesting that the cause of the crash may involve issues related to engine thrust. The investigation has faced scrutiny over the slow release of information, with the Indian government holding only one press conference on the incident. Meanwhile, a U.N. aviation investigator has been granted observer status in the probe. The crash poses significant challenges for the Tata Group, which is working to revamp Air India's image and operations.
Published: Jul 09 2025, 9 ameznews.inTrade negotiators from various Asian countries have been making frequent trips to Washington in a bid to secure deals with US President Donald Trump, particularly since the announcement of "reciprocal" tariffs on April 2. Delegates from nations such as Japan, India, and Indonesia have collectively logged over 770 hours of flight time and more than 350,000 miles—equivalent to 14 circumnavigations of the globe. Japan's chief negotiator has made seven trips, while India’s team has visited three times, with Trump suggesting a deal is imminent. South Korea and Taiwan have also engaged in multiple discussions, while Malaysia and Indonesia are committed to ongoing negotiations despite facing significant tariffs. Notably, China has opted for negotiations in Europe rather than Washington. With Trump delaying higher tariffs until August 1, further travel is anticipated as countries strive for favorable trade agreements.
Published: Jul 09 2025, 9 ameznews.inThe long-awaited 56th GST Council meeting remains in limbo, with no confirmed date or venue since its last gathering on December 21, 2024, in Jaisalmer, Rajasthan. Experts warn that the ongoing delay, exacerbated by the upcoming Monsoon Session of Parliament from July 21 to August 21, could deepen existing disputes and create a policy vacuum. The GST Council is required to meet quarterly, yet the current postponement is attributed to budget presentations and recent events, including the Pahalgam incident. Finance Minister Nirmala Sitharaman has indicated that preparations are underway to address key issues, such as GST rate reductions and the future of the compensation cess, which expires in March 2026. Industry experts express concern over the uncertainty affecting various sectors, highlighting the need for decisive action on critical matters like ITC eligibility and the establishment of a GST Appellate Tribunal to enhance compliance and resolve disputes.
Published: Jul 08 2025, 8 pmeznews.inCoconut prices in Kerala have surged to ₹75 per kg, a significant increase from last year's ₹28, impacting traditional temple rituals. At the Pazhavangadi Ganapathy Temple in Thiruvananthapuram, coconut offerings have dropped by approximately 30%, as devotees scale back on large offerings due to rising costs. Temple managements are also feeling the pinch; the Pazhavangadi temple has raised the price of coconut oil from ₹340 to ₹400 due to vendor supply issues. The upcoming Sabarimala pilgrimage, starting July 17, is expected to see heightened demand for coconuts, as devotees typically carry multiple for offerings. The price hike is attributed to a 25% global drop in coconut production, exacerbated by climate change and increased demand for value-added products. As the situation unfolds, the economic viability of coconut offerings remains uncertain, raising concerns for both devotees and temple administrations.
Published: Jul 08 2025, 8 pmeznews.inThe investigation into the recent Air India crash in Ahmedabad is being led by the Director General of the Aircraft Accident Investigation Bureau (AAIB), which has begun analyzing data from the aircraft's black boxes. A parliamentary panel expressed concerns over air safety during a meeting originally intended to discuss airport levy charges, with MPs demanding clarity on the investigation's timeline and the criteria for selecting the crash probe committee. The Ministry of Civil Aviation (MoCA) reported that a multidisciplinary team was formed on June 13, 2025, to examine the cockpit voice and flight data recorders, aiming to reconstruct the events leading to the accident. Additionally, the International Civil Aviation Organization (ICAO) has been granted observer status in the investigation, which includes experts from the US National Transportation Safety Board (NTSB) to ensure adherence to global aviation standards.
Published: Jul 08 2025, 8 pmeznews.inA coalition of ten central trade unions, supported by farmers' unions, has called for a nationwide strike against four controversial labour codes, demanding the government host an Indian Labour Conference (ILC) for the first time since 2015. The Bhartiye Mazdoor Sangh (BMS), backed by the RSS, has opted out of the strike, citing the government's responsiveness to their suggestions for amending the labour codes. Key demands from the striking unions include the withdrawal of fixed-term employment, scrapping the Agnipath scheme, a restoration of the Old Pension Scheme, and a minimum pension of ₹9,000 for EPFO subscribers. They also seek recognition and benefits for scheme workers and a climate resilience fund. Additionally, the farmers' group, Samyukta Kisan Morcha, has urged support for the strike, opposing free trade agreements that they argue threaten Indian agriculture by allowing subsidized foreign products to flood the market.
Published: Jul 08 2025, 8 pmeznews.inIndia's steel imports have seen a significant decline, with June shipments dropping to 0.43 million tonnes (mt), a nearly 33% decrease compared to the same month last year. This downturn is attributed to tightened safeguard duties and a resurgence in domestic steel pricing, which has become more competitive than Chinese imports. The domestic market now sees prices ranging from ₹50,000 to ₹50,700 per tonne, about 2-3% lower than landed Chinese steel. In the first quarter of FY26, total imports fell nearly 30% year-on-year to 1.4 mt, with benchmark hot rolled coil (HRC) imports also down by 30% to 1 mt. Despite this, India remains a net importer, with exports rising to 0.45 mt in June. Market analysts note a prevailing weak sentiment in the domestic market, driven by low demand and monsoon disruptions, while steel mills have maintained prices steady into July.
Published: Jul 08 2025, 7 pm
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