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Rolls-Royce is aiming to establish India as a key market and strategic partner, according to CEO Tufan Erginbilgic, who is currently in Mumbai as part of UK Prime Minister Keir Starmer's delegation. This initiative aligns with India's interest in collaborating with the UK on a jet engine program for its next-generation fighter jets. Rolls-Royce, one of the few global manufacturers of fighter jet engines, plans to partner with an Indian entity if the deal is finalized. Erginbilgic emphasized the company's commitment to supporting India's self-reliance and innovation goals, particularly in defence and energy sectors. The UK-India 10-year vision document highlights advanced technology collaboration as a priority. Starmer praised Rolls-Royce as a symbol of British excellence, underscoring the importance of their partnership in driving economic growth and job creation. The company recently expanded its Global Capability and Innovation Centre in India, aiming to double its local supply chain sourcing by 2030. 
Published: Oct 08 2025, 7 pmeznews.inThe Indian government is considering a proposal that would allow Special Economic Zone (SEZ) units to sell products in the domestic market on a 'duty foregone' basis, potentially increasing investment and competitiveness against imports from free trade agreement (FTA) partner countries. Currently, SEZ units face full customs duties when selling domestically, making them less competitive compared to products imported duty-free from countries like Vietnam under the India-ASEAN FTA. For instance, Nike shoes exported from Vietnam can enter India without tariffs, while Indian SEZs are restricted to exporting only. The Export Promotion Council for EOUs and SEZs (EPCES) argues that this policy change could enhance business and job creation within SEZs. The Commerce Department is in discussions with the Department of Revenue to explore operational flexibilities for SEZs, which may be included in the upcoming SEZ Amendment Bill or implemented through executive orders.
Published: Oct 08 2025, 9 pmeznews.inUncertainty surrounding US tariffs on Brazilian coffee is raising concerns among Indian exporters, who fear that Brazil may redirect its coffee exports from the US to Europe, a key market for Indian coffee. Ramesh Rajah, President of the Coffee Exporters Association, noted that while India primarily exports washed Arabicas, the influx of Brazilian coffee could intensify competition in Europe, particularly affecting Robusta prices. Brazil, traditionally known for its Arabica production, is rapidly expanding its Robusta output, potentially surpassing Vietnam as the largest producer by 2025. This shift could lead to significant pricing pressure on Indian Robusta, which currently commands a premium in the market. With the US coffee industry advocating for the removal of coffee from tariff lists, exporters warn that unresolved tariff issues could exacerbate pricing challenges, impacting both Indian coffee sales and consumer costs in the US.
Published: Oct 08 2025, 8 pmeznews.inIndia is poised at a critical juncture, according to Union Commerce and Industry Minister Piyush Goyal, who highlighted the nation's robust macroeconomic fundamentals and expanding trade relations with developed countries. Despite global challenges such as trade fragmentation, geopolitical tensions, and supply chain disruptions, Goyal announced that India is on track for positive export growth of 4-5% in the first half of the financial year. He emphasized India's potential as a hub for advanced technologies, supported by a resilient energy infrastructure and competitive costs for renewable energy. Goyal also noted that India's diplomatic efforts are fostering strong international ties, creating vast opportunities for growth. With aspirations to become a $30-35 trillion economy by 2047, he expressed confidence in the country's trajectory, underscoring that trust in financial partnerships is paramount for sustained progress.
Published: Oct 08 2025, 8 pmeznews.inPrime Minister Narendra Modi inaugurated the first phase of the Navi Mumbai International Airport on Wednesday, marking a significant milestone in enhancing the Mumbai Metropolitan Region's status as Asia's largest connectivity hub. Modi emphasized the airport's potential to connect Maharashtra's farmers to international markets, facilitating exports of agricultural products. This development ends a decade-long wait for a second airport in Mumbai, aligning the city with global counterparts like London and New York. Alongside the airport launch, Modi also inaugurated the final phase of Mumbai's metro third line and introduced an integrated mobility app for seamless travel. He highlighted the government's commitment to expanding air travel accessibility and noted that India has become the world's third-largest domestic aviation market. Gautam Adani, chairman of the Adani Group, which partnered in the airport's development, praised the project as a testament to India's ambition and a catalyst for regional economic growth.
Published: Oct 08 2025, 8 pmeznews.inIndia is poised to be a pivotal player in the global sugar market for the 2025-26 season, which commenced on October 1, with an anticipated surplus of 7 million tonnes (mt) in sugar production. Analysts from BMI, a Fitch Solutions unit, attribute this outlook to robust production in Brazil, a significant increase in Indian output, and declining crude oil prices, leading to a bearish sentiment through Q3 2025. The Indian government may resume sugar exports between January and February, contingent on supply-demand dynamics, with estimates suggesting 1 to 2 mt could be exported. The Indian Sugar and Bio-Energy Manufacturers Association (ISMA) projects a production of 34.9 mt, with 5 mt earmarked for ethanol. Global sugar markets are expected to see their third-largest surplus, with India and Thailand playing crucial roles, while China is set to increase imports due to lower prices.
Published: Oct 08 2025, 7 pmeznews.inCapital expenditure (capex) among 60 Central Public Sector Enterprises (CPSEs) surged to over ₹1.13 lakh crore in September, marking a 119% increase from August and the highest level in nine months, according to the Department of Public Enterprises. This growth is crucial as private sector capex remains below expectations, with the FY26 target for these CPSEs set at over ₹7.85 lakh crore, of which approximately 50% has already been achieved. The rise in spending is attributed to increased approvals for railway and road projects, with the Cabinet Committee on Economic Affairs recently approving projects worth ₹1.89 lakh crore for roads and ₹1.50 lakh crore for railways. Officials emphasize that enhanced capex will foster profitable growth and job creation, with key performance indicators now integrated into the annual evaluation framework for CPSEs. Overall, government capex has also risen by 43% from April to August, reflecting a robust commitment to infrastructure development.
Published: Oct 08 2025, 7 pmeznews.inThe Central Government has approved a new Vande Bharat Express train service connecting Ernakulam to Bengaluru, with stops in Thrissur and Palakkad, as announced by BJP state president Rajeev Chandrasekhar on Wednesday. The service is anticipated to commence by mid-November, a development that Chandrasekhar attributed to the efforts of Prime Minister Narendra Modi and Railway Minister Ashwini Vaishnaw. He highlighted the significant presence of Keralites, particularly in the IT sector, in Bengaluru and noted the longstanding demand for additional train services between Kerala and the city. Expressing gratitude for the swift decision, Chandrasekhar emphasized that the new train would provide considerable relief to Keralites residing in Bengaluru and contribute to the overall development of Kerala. The announcement follows Chandrasekhar's recent discussions with the railway minister regarding the need for enhanced connectivity.
Published: Oct 08 2025, 7 pmeznews.inIn a speech at the Milken Institute in Washington, D.C., ahead of the annual IMF-World Bank meetings, IMF Managing Director Kristalina Georgieva highlighted India's emergence as a vital growth engine amid shifting global economic patterns. With China's growth slowing, India’s growth estimates for the current fiscal year have been revised to between 6.5% and 6.9%, although projections for the next fiscal year have dipped slightly. Georgieva noted that global growth is expected to stabilize around 3% over the medium term, down from 3.7% pre-pandemic, attributing resilience to improved policy fundamentals and adaptable private sectors. However, she expressed concern over persistent high US tariffs, which, despite a recent decrease, remain significantly above global averages. Georgieva warned that the global economy has yet to face its toughest tests, citing rising gold demand as a potential indicator of underlying economic pressures. The annual meetings will take place from October 13 to 18, 2025.
Published: Oct 08 2025, 7 pmeznews.inThe upcoming meeting of the GST Council is set to prioritize compliance ease, procedural reforms, and policy updates, according to a senior government official. Following recommendations from the September meeting to simplify refund and registration processes, the Council aims to refine rules and policies further. Tax experts have highlighted critical areas for reform, including the inclusion of electricity and natural gas under GST to enhance Input Tax Credit (ITC) flow, thereby reducing production costs and promoting clean energy. Additionally, expanding the e-invoicing model to Business-to-Consumer transactions and establishing a GST Arbitration Tribunal for tax disputes are suggested. Concerns over the Inverted Duty Structure and ITC refund restrictions remain pressing, with calls for a one-time relief mechanism and clearer valuation for renewable energy devices. Experts also advocate for an amnesty scheme for minor non-compliances and reforms to ensure fair adjudication processes within the GST framework.
Published: Oct 08 2025, 6 pm
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