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The Comprehensive Economic and Trade Agreement (CETA) was signed in London last month, heralding a new era for UK-India trade relations. Rolls-Royce anticipates significant benefits from the UK-India Free Trade Agreement (FTA), particularly through reduced tariffs on aerospace components, which will enhance bilateral supply chains. John Kelly, Senior Vice President at Rolls-Royce, highlighted that the FTA aligns with the UK-India Vision 2035 roadmap, fostering collaboration in defence and advanced propulsion technologies. The company aims to double its India-based supply chain presence over the next five years, leveraging partnerships with firms like HAL and Tata. While Rolls-Royce is exploring the expansion of its global Maintenance Repair & Overhaul (MRO) network, no specific plans for an MRO facility in India have been confirmed. The company remains committed to supporting India's regional aviation growth through initiatives like the UDAN programme. 
Published: Aug 05 2025, 6 pmeznews.inThe Reserve Bank of India (RBI) has revised its Consumer Price Index (CPI) inflation projection for FY26 to 3.1%, down from 3.7%, while maintaining real GDP growth at 6.5%. Governor Sanjay Malhotra attributed the improved inflation outlook to favorable base effects, a strong southwest monsoon, and healthy food grain stocks. However, he warned that inflation could rise above 4% in Q4FY26 due to adverse base effects and demand-side pressures. The CPI inflation forecast for Q2 is now 2.1%, Q3 at 3.1%, and Q4 remains unchanged at 4.4%. Malhotra highlighted resilient domestic growth, supported by robust government spending and a buoyant services sector, although external demand remains uncertain amid geopolitical tensions and global market volatility. He noted that while private consumption and investment are strong, industrial growth is uneven, particularly in electricity and mining sectors.
Published: Aug 06 2025, 11 ameznews.inAir India is set to transition some aircraft maintenance services in-house, seeking assistance from its shareholder Singapore Airlines (SIA), which previously received support from Air India in the 1970s. This strategic shift comes in the wake of a deadly crash in June, which raised safety concerns and prompted a sector-wide audit revealing that Air India had the highest number of maintenance issues among Indian carriers. The airline, now owned by the Tata Group, aims to enhance its Maintenance, Repair, and Overhaul (MRO) capabilities to support its expanding fleet of 570 aircraft. SIA, holding a 25.1% stake in Air India, will aid in this transition, emphasizing the need for robust maintenance infrastructure to ensure safety and reliability. Recent operational challenges have also affected SIA's earnings, highlighting the interconnected nature of their partnership.
Published: Aug 06 2025, 11 ameznews.inThe Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) is set to convene today, with expectations of a potential 25 basis points (bps) cut to the repo rate, although many analysts predict the rate will remain unchanged. Following a series of cuts earlier this year, including a significant 50 bps reduction in June, the current repo rate stands at 5.5%. Retail inflation has cooled to 2.10% as of June, prompting speculation about the RBI's next move. Reports suggest the RBI may lower its inflation target for FY26 to 3.1%, while inflation for FY27 could rise to 4.5%. Experts are divided on whether the MPC should continue its aggressive rate-cutting strategy or pause to assess the economic landscape. The next MPC meetings are scheduled for September and December 2025, with a focus on managing inflationary pressures in the coming quarters.
Published: Aug 06 2025, 8 ameznews.inThe Indian Government has appointed 33 Technical Members to the Goods and Services Tax Appellate Tribunal (GSTAT), a crucial move aimed at operationalising the tribunal and providing clarity for GST assessees. The appointments, confirmed by the Appointment Committee of the Cabinet, include two retired bureaucrats on the Principal Bench in New Delhi, while the remaining members will serve in State benches, each with a four-year tenure or until the age of 67. The GSTAT, established under the Central Goods and Services Tax Act, 2017, serves as the second appellate authority for GST disputes. However, a recent Standing Committee on Finance report highlighted ongoing delays in appointing State Technical Members, urging the Ministry to expedite the process to enhance the tribunal's functionality. Experts stress that a fully operational GSTAT is essential for reducing litigation and ensuring timely relief for taxpayers, thereby stabilising the GST framework.
Published: Aug 05 2025, 10 pmeznews.inAs India navigates the complexities of US tariff threats, domestic refiners are actively seeking alternatives to Russian crude oil to maintain operational flexibility and protect profit margins. Recent data indicates a significant decline in Russian crude imports, dropping to approximately 1.6 million barrels per day in July, partly due to seasonal refinery maintenance and reduced demand. While state-run refiners are particularly affected, private refiners, who account for over half of Russian crude intake, are also diversifying their procurement amid rising geopolitical tensions. Despite the challenges of replacing Russian barrels, which are favored for their cost-effectiveness and compatibility, refiners remain in a cautious stance, balancing energy security with compliance to global norms. Notably, imports from the US have surged, reflecting a strategic pivot, although a complete disengagement from Russian crude is deemed unlikely in the near term.
Published: Aug 05 2025, 9 pmeznews.inThe Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, has approved a series of military procurement proposals worth approximately ₹67,000 crore, aimed at enhancing the capabilities of the Indian Army, Air Force, and Navy. Key approvals include the Indian Navy's acquisition of Compact Autonomous Surface Craft for anti-submarine warfare, and upgrades to the BARAK-1 missile system and BrahMos fire control systems. The Indian Army will receive Thermal Imager-based Driver Night Sights for infantry vehicles to improve night operations. Additionally, the Indian Air Force's Mountain Radars and upgrades to the SAKSHAM/SPYDER weapon system were sanctioned to bolster air surveillance in mountainous regions. The DAC also greenlit the procurement of Medium Altitude Long Endurance (MALE) Remotely Piloted Aircraft, enhancing surveillance and combat capabilities, alongside maintenance contracts for C-17 and C-130J fleets and the S-400 missile system.
Published: Aug 05 2025, 9 pmeznews.inThe Indian Micro-Fertilizers Manufacturers Association (IMMA) has urged the government to decriminalise violations related to non-subsidised fertilizers, advocating for their removal from the Essential Commodities Act (ECA) due to the current sufficiency of fertilizers and food in India. At a recent Business-to-Government roundtable in New Delhi, industry leaders argued that the ECA's punitive measures deter new entrants. IMMA President Rahul Mirchandani called for market-driven regulations for non-subsidised products and the updating of State-notified fertilizer grades, while also emphasising the need for a unified digital licensing system under the "One Nation, One Licence" framework. Concerns were raised regarding new bio-stimulant regulations, with stakeholders seeking transitional measures. The association also recommended removing non-subsidised fertilizers from the export restrictions to enhance India's position as a global fertilizer supplier. The event facilitated discussions among policymakers, researchers, and industry leaders on these pressing issues.
Published: Aug 05 2025, 8 pmeznews.inTextile exporters in India are facing significant challenges as demand from the US has already slowed and is projected to decline by 10-15% this fiscal year. In a recent meeting with Commerce and Industry Minister Piyush Goyal, industry representatives expressed concerns over a new 25% reciprocal tariff imposed by the US, urging the government to eliminate the existing 11% import duty on cotton to maintain competitiveness. Key demands included a two-year moratorium on term loans, revival of the Interest Equalisation Scheme, and an extension of tax rebate benefits. Minister Goyal indicated the government's readiness to assist exporters by reducing manufacturing costs and addressing banking and GST issues. Amid ongoing bilateral trade discussions, apparel exporters remain hopeful for a resolution within the next few months, as uncertainty looms over pending orders for the upcoming holiday season.
Published: Aug 05 2025, 8 pmeznews.inThe Indian Sugar and Bio-energy Manufacturers Association (ISMA) has launched a national AI-ML network programme in collaboration with the Agriculture Development Trust (ADT) of Baramati, Maharashtra, aimed at enhancing sugarcane productivity and farmers' income through artificial intelligence. The initiative, which follows a successful project with the University of Oxford and Microsoft that empowered over 1,000 farmers with AI-driven solutions, has reportedly led to a 40% increase in crop yield, a 35% reduction in labor costs, and a 30% decrease in water usage. ISMA has signed a Memorandum of Understanding with ADT and Pune-based agri-tech service provider Map My Crop to further this initiative. Director General Deepak Ballani emphasized that the technology-backed network will enable farmers to make informed decisions, optimize resource use, and improve profitability. Field demonstrations and capacity-building sessions are planned to facilitate rapid adoption of these advancements in sugarcane farming.
Published: Aug 05 2025, 8 pmeznews.inUS President Donald Trump announced on Tuesday that he plans to significantly increase tariffs on India within 24 hours, citing the country's purchase of Russian oil as a reason for its "unacceptable" trade practices. In a televised interview, Trump criticized India as a "not a good trade partner" due to its high tariffs, stating that the current 25% reciprocal tariffs would be raised further. Meanwhile, India remains steadfast in its position to protect its farmers and vulnerable sectors during ongoing bilateral trade agreement negotiations, despite the looming tariff threat. A source indicated that India faces a tariff disadvantage compared to countries like Vietnam and Bangladesh, and it hopes a trade agreement with the US will address this. India's Ministry of External Affairs responded to Trump's earlier threats, arguing that its imports are essential for maintaining affordable energy and highlighting the hypocrisy of nations criticizing India while continuing trade with Russia.
Published: Aug 05 2025, 8 pm
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