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Prime Minister Narendra Modi addressed the International Air Transport Association’s 81st Annual General Meeting in New Delhi, urging global investments in India's burgeoning aviation sector. He highlighted the newly enacted Indian Aircraft Act, which aligns local regulations with international standards, creating significant opportunities for foreign aviation companies. Modi emphasized the sector's potential for job creation and the emergence of Maintenance, Repair, and Overhaul (MRO) as a key growth area, with plans to establish a $4 billion MRO hub by 2030. He called for a shift from merely "Make in India" to "Design in India," reinforcing the country's ambition to become a global manufacturing leader. Modi noted India's rise as the third-largest domestic aviation market, with annual passenger numbers expected to soar from 240 million to 500 million by 2030, alongside a significant increase in air cargo transport. 
Published: Jun 02 2025, 8 pmeznews.inFinance Minister Nirmala Sitharaman is scheduled to convene the 29th meeting of the Financial Stability and Development Council (FSDC) on June 10 in Mumbai, amid global economic uncertainties. This meeting marks the first since India recorded a 6.5% growth in FY25, the slowest in four years, despite a robust 7.4% expansion in the last quarter, driven by increased private consumption and growth in construction and manufacturing. The Reserve Bank of India recently announced a record dividend of Rs 2.7 lakh crore for FY25, surpassing the previous year's payout. During the meeting, Sitharaman will assess the current economic landscape, address financial stability issues, and discuss strategies to combat rising digital fraud. Key financial regulators, including RBI Governor Sanjay Malhotra and SEBI Chairperson Tuhin Kanta Pandey, will participate, alongside other senior finance ministry officials, to review past decisions and progress on financial sector development initiatives.
Published: Jun 04 2025, 2 pmeznews.inAt a WTO Trade Ministers' gathering in Paris, Indian Commerce and Industry Minister Piyush Goyal urged member nations to tackle non-tariff barriers and trade distortions from non-market economies, while advocating for a robust dispute settlement mechanism at the WTO. Speaking to around 25 ministers, including representatives from Australia, Singapore, and Nigeria, Goyal emphasized the need to strengthen the consensus-based approach and special treatment for developing nations. He highlighted the dysfunction of the WTO's dispute resolution system since 2009, largely due to U.S. blockages in appointing appellate body members. The meeting, convened by Australia ahead of the 14th ministerial conference in Cameroon, also addressed agricultural issues, overfishing, and the contentious China-led investment facilitation proposal, which India opposes. Goyal expressed optimism about revitalizing the WTO, asserting that while challenges exist, the organization remains vital for global trade.
Published: Jun 04 2025, 2 pmeznews.inThe Indian government has confirmed that there will be no changes to its foreign direct investment (FDI) policy concerning countries sharing a land border with India, including China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar, and Afghanistan. Under Press Note 3, issued in 2020, investors from these nations must obtain prior government approval for investments across all sectors. This policy mandates a uniform scrutiny process for FDI proposals from these countries, which are reviewed by an inter-ministerial committee led by the Home Secretary. Despite some reports suggesting a streamlined approval process for Chinese investments, government sources have reiterated that no amendments have been made to the existing FDI policy. Currently, most FDI entering India is processed through an automatic approval route, highlighting the significance of the established regulatory framework for investments from neighboring nations.
Published: Jun 04 2025, 1 pmeznews.inDelhi, Maharashtra, and Karnataka collectively account for nearly 75% of electricity consumption by public charging stations (PCSs) for electric vehicles (EVs) in India during FY25. Delhi leads with over 40% of the total power used, while Maharashtra contributes around 25%, and Karnataka, a surprising contender, accounts for nearly 10%. The surge in power consumption, which rose by 82% year-on-year to 847.80 million units, is largely driven by the increasing sales of two and three-wheeled EVs, particularly for last-mile delivery services. As of March 2025, India has approximately 26,367 EV PCSs, with Karnataka having the highest number at 5,879. The country aims to expand its charging infrastructure significantly to meet ambitious EV sales targets by 2030, necessitating the installation of around 50,000 new charging points annually.
Published: Jun 04 2025, 1 pmeznews.inA bountiful monsoon in Kerala has raised optimism among natural rubber farmers, with expectations of a 5-10% production increase this financial year, according to George Valy, president of the Indian Rubber Dealers’ Federation. The production for 2023-24 is projected at 857,000 tonnes, contingent on minimal rain disruptions during tapping. However, a recent decline in international block rubber prices, which fell from ₹156 to ₹142, may negatively impact domestic prices, especially as the market anticipates fresh rubber supplies from mid-June through August. While the current market shows stability, concerns linger over climate-related uncertainties and geopolitical factors that could affect pricing. Santosh Kumar, CEO of Harrisons Malayalam Ltd, noted that while early rains have bolstered harvest expectations, the unpredictable nature of weather patterns and potential fungal diseases pose risks. Stakeholders remain cautiously optimistic, hoping for stable prices and improved production if favorable conditions persist.
Published: Jun 04 2025, 1 pmeznews.inThe Indian Stainless Steel Development Association (ISSDA) has projected a robust growth in stainless steel demand, estimating an annual increase of 7-8% over the next three years. At the Global Stainless-Steel Expo 2025, ISSDA President Rajamani Krishnamurti reported that consumption reached 4.8 million tonnes in FY25, reflecting an 8% year-on-year rise. With India's per capita steel consumption at just 3.4 kg—significantly lower than the global average of over 6 kg—there is substantial potential for growth, particularly as the government prioritizes infrastructure projects. Krishnamurti highlighted opportunities in railways, ports, and highways, supported by a surge in capital expenditure, which rose to 3.3% of GDP for FY24. He noted that India's construction market is projected to reach $1.42 trillion by 2027, with green hydrogen emerging as a new application for stainless steel, reinforcing its status as the second-largest consumer and third-largest producer globally.
Published: Jun 04 2025, 1 pmeznews.inChina is reportedly poised to place a substantial order for Airbus aircraft, potentially involving between 200 and 500 planes, as early as next month during a visit by European leaders to Beijing. This deal, which could include both narrowbody and widebody models, is under negotiation with Chinese airlines and may coincide with the 50th anniversary of diplomatic relations between China and the EU, marked by visits from French President Emmanuel Macron and German Chancellor Friedrich Merz. The order could send a significant message to the US amid ongoing trade tensions, particularly as Boeing has faced challenges in the Chinese market since 2017, including a grounding of its 737 Max jets. Should the order reach 500 aircraft, it would be one of the largest in history, surpassing a previous order of 300 single-aisle jets made by China in 2022.
Published: Jun 04 2025, 11 ameznews.inIn a significant financial move, Adani Airports Holdings Ltd has secured $750 million in funding from a consortium of international banks, including First Abu Dhabi Bank, Barclays, and Standard Chartered. Announced on Wednesday, the financing will be utilized to refinance $400 million in existing debt, with the remainder earmarked for upgrading and expanding capacity at six airports across India. Adani Airports, which operates eight airports, including the soon-to-be operational Navi Mumbai International Airport, served 94 million passengers in the fiscal year 2024-2025. The company aims to triple its overall capacity to accommodate 300 million passengers annually by 2040. This strategic investment underscores Adani Group's commitment to enhancing its infrastructure capabilities in the aviation sector.
Published: Jun 04 2025, 12 pmeznews.inIn a notable development, Adani Airport Holdings Ltd, part of billionaire Gautam Adani's conglomerate, is considering bids for ground handling services at Mumbai and Ahmedabad airports. This move comes after the Indian government revoked the security clearance of Turkish operator Celebi Hava Servisi AS, which previously managed operations at nine airports, including key facilities in New Delhi and Mumbai. Adani's CEO, Arun Bansal, announced the evaluation of bids during an aviation industry event in New Delhi, highlighting the company's strategy to diversify into new sectors that complement its existing operations. If successful, Adani will become the third ground handler at these airports, in line with Indian regulations requiring three handlers for major airports with annual passenger traffic exceeding one million. The shift follows geopolitical tensions, as Celebi's operations were halted after Turkey's support for Pakistan during a recent conflict with India.
Published: Jun 04 2025, 12 pmeznews.inIn May, India's services sector experienced robust job creation, with the Purchasing Managers' Index (PMI) remaining steady at 58.8, according to S&P Global. The services sector, which contributes approximately 54% to India's Gross Value Added (GVA), saw a significant uptick in employment, marking the highest job creation rate recorded in the survey's history. Chief India Economist at HSBC, Pranjul Bhandari, noted that strong international demand, particularly from Asia, Europe, and North America, was a key driver of this growth. However, the surge in recruitment has led to increased cost pressures, with inflation rates rising for both input and service charges. Despite these challenges, business sentiment improved, with companies optimistic about future growth due to enhanced staffing and marketing efforts. The report highlighted a marginal easing of capacity pressures, indicating a slower accumulation of outstanding business.
Published: Jun 04 2025, 11 am
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