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The United States has imposed significant tariffs on solar equipment imports, with 26% on Indian exports, 46% on Vietnam, and a cumulative 54% on China. This move is expected to provide a slight competitive advantage to Indian solar manufacturers, as they face lower tariffs compared to their Chinese and Vietnamese counterparts. However, the higher tariffs on imported machinery and components from the US could increase costs for Indian developers, particularly in the renewable energy sector, which relies heavily on such imports. Experts suggest that while India could see a boost in module exports to the US, its dependence on Chinese components remains a concern, as over 50% of its solar PV cell and module components are sourced from China. Industry leaders emphasize the need for India to strengthen its supply chain and adapt to these geopolitical shifts to maintain growth in the renewable energy market. 
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Apr 04 2025, 6 pmeznews.inThe escalating trade tensions between the United States and China reached a critical point as the US announced a staggering 104% tariff on Chinese goods, effective Wednesday at 12:01 AM ET. This decision follows China's failure to lift its retaliatory tariffs by a deadline set by President Donald Trump. The Chinese Ministry of Commerce condemned the US move, asserting that "if the US insists on its own way, China will fight to the end." The situation has intensified, with Trump threatening an additional 50% levy on Chinese imports, compounding existing tariffs that have already doubled the import price of goods from China. Amidst this turmoil, Chinese stocks saw a slight rebound, aided by state-backed funds, despite a significant drop earlier in the week. China's embassy in Washington criticized US actions as hegemonic and reiterated its commitment to defending its interests, leaving the door open for potential negotiations while expressing skepticism about reaching a deal.
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Apr 09 2025, 12 ameznews.inSince 2014, the Indian government has frequently increased excise duties on petrol and diesel during periods of low global crude oil prices, a strategy employed over a dozen times to bolster revenue. Between 2014 and 2025, excise duty rates were revised 16 times, with increases occurring 13 times and reductions three times. The most significant adjustments happened from 2014 to 2016, generating approximately ₹20,000 crore in FY15 and ₹16,500 crore in FY16. The excise structure comprises four components, with most revenue directed to the central government for infrastructure projects. Recent revisions, including a ₹50 hike in LPG rates, are expected to raise an additional ₹32,000 crore for the Centre and help offset losses faced by public sector oil marketing companies. The government anticipates collecting ₹3.17 lakh crore in excise duties for FY26, primarily from petroleum products, to compensate for previous revenue shortfalls.
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Apr 08 2025, 10 pmeznews.inChennai is set to establish its second airport at Parandur following the Centre's approval for the project, as reported by _businessline_. The greenfield airport, located approximately 70 km west of the city, has successfully passed the second stage of the Centre’s Greenfield Airports (GFA) policy, receiving 'in-principle' approval that allows for land acquisition and construction to commence. This decision follows extensive discussions involving the Union Ministry of Civil Aviation and other relevant agencies. Officials expressed optimism that the new airport will enhance connectivity and stimulate economic growth in the region. The GFA policy has seen the Centre grant 'in-principle' approval for 21 greenfield airports across India, with 12 already operational. Currently, India boasts around 159 operational airports, encompassing both brownfield and greenfield facilities. The implementation of the Parandur project will now be managed by the designated airport developer and the State government.
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Apr 08 2025, 10 pmeznews.inUnion Finance Minister Nirmala Sitharaman, during her address at India House in London, emphasized India's robust growth trajectory, bolstered by strong domestic demand and sound macroeconomic fundamentals. She acknowledged the challenges posed by US tariffs but reiterated India's commitment to maintaining its position as a global growth engine. Highlighting transformative reforms aimed at achieving a developed economy by 2047, Sitharaman pointed to significant advancements in public service digitization, including Direct Benefit Transfer, which enhances welfare delivery. She noted a substantial increase in capital expenditure for infrastructure development, which has improved India's Logistics Performance Index ranking from 54 in 2014 to 38 in 2023. The Minister underscored the importance of inclusive, sustainable, and innovation-driven policies, while also addressing digital literacy and data protection. As India aspires to become a developed nation by its centenary of independence, she called for continued reforms and investments to ensure growth benefits all citizens.
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Apr 08 2025, 9 pmeznews.inAs of April 7, 2025, the Tamil Nadu State Transport Corporation (TNSTC) has set a remarkable milestone, with over 1.03 crore passengers utilizing its electronic ticketing system since its launch in February 2024. This achievement positions TNSTC at the forefront of India's road transport sector, marking it as the leading provider in electronic ticketing and second overall, trailing only behind the railways. The official Arasu Bus social media account celebrated this success, highlighting the digital transformation underway in Tamil Nadu's public transport. Transport Secretary Phanindra Reddy emphasized that this is merely the beginning of a broader digital revolution within the state's transport services. The extensive public transport network comprises 30,881 stage carriage buses, including 28,024 standard buses and 2,857 minibuses, collectively serving approximately 1.76 crore passengers daily, as noted in the Transport Department's policy documentation for 2024-25.
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Apr 08 2025, 8 pmeznews.inGlobal coffee prices have plummeted by approximately 10% in recent days, largely due to panic selling in financial markets following the Trump administration's imposition of reciprocal tariffs. This decline has led to a corresponding drop in domestic farmgate prices, with arabica and robusta parchment prices falling by ₹1,000 to ₹2,000 per 50-kg bag. Currently, arabica parchment prices range from ₹26,200 to ₹26,800, while robusta parchment is priced between ₹21,400 and ₹21,800. Industry experts, including UPASI Coffee Committee Chairman Sahadev Balakrishna, note that the market's volatility has made traders cautious, with many growers reluctant to sell amid uncertainty. However, some, like coffee curer Pramod Somiah, believe the price drop is temporary, citing limited supply against rising demand. Meanwhile, India's coffee exports surged to $1.81 billion for the year ending March 2025, a 46% increase from the previous year, driven by higher global demand.
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Apr 08 2025, 8 pmeznews.inThe Indian government has launched a consultation period for its newly approved Electronics Component Manufacturing Scheme (ECMS), aimed at bolstering the country's passive electronics supply chain with a funding of ₹22,919 crore. Minister of Electronics and Information Technology Ashwini Vaishnaw announced that the scheme, which will be open for industry feedback for two weeks, is designed to attract significant investments and enhance domestic value addition over the next six years. It includes three incentive components: employment-linked incentives, capital subsidies for high capital expenditure sectors, and production-linked incentives. Vaishnaw highlighted the impressive growth in India's electronics sector, with mobile phone exports exceeding ₹2 lakh crore in FY25, driven largely by iPhone shipments. The scheme is expected to have a multiplier effect across various sectors, including automotive and defence, and will facilitate the production of a wide range of passive components essential for electronics manufacturing.
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Apr 08 2025, 8 pmeznews.inIndia is exploring the possibility of seeking a deferral on tariffs from the United States until the completion of a bilateral trade agreement (BTA), although President Donald Trump has stated he is not considering pausing tariffs. As the 26% tariffs are set to take effect on April 9, the Indian government is conducting a sectoral analysis to assess the impact on exports, particularly in industries such as gems, jewellery, and electronics. Commerce Minister Piyush Goyal is scheduled to meet with export promotion councils to discuss the situation and gather input for potential interventions. With importers delaying orders amid uncertainty, exporters are concerned about cash flow issues due to increased duties. India aims to resolve the tariff dispute amicably, as the US remains its largest trade partner, and is keen to finalize the BTA to mitigate the impact of the tariffs.
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Apr 08 2025, 8 pmeznews.inIn a pivotal move for Bengaluru's aviation sector, officials from the Airports Authority of India (AAI) inspected two of the three shortlisted sites for the city's proposed second airport, located off Kanakapura Road. This inspection follows a surge in passenger traffic at the existing Kempegowda International Airport, which has seen over 41 million passengers in FY25, marking an 11.6% year-on-year increase. Infrastructure Development Minister MB Patil emphasized that the final site selection will hinge on AAI's recommendations, amid a competitive landscape between the Kanakapura and Nelamangala sites. While Kanakapura boasts existing infrastructure and proximity to the city, it faces challenges related to land acquisition due to agricultural use. Conversely, Nelamangala offers more available dry land and lower costs but requires careful ecological planning to ensure sustainable development. The decision will ultimately reflect Bengaluru's specific needs and growth trajectory.
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Apr 08 2025, 8 pmeznews.inPrime Minister Narendra Modi welcomed Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Deputy Prime Minister of the UAE, during his two-day official visit to India, emphasizing the deep-rooted friendship and future cooperation between the two nations. The Crown Prince also engaged with External Affairs Minister S. Jaishankar and Defence Minister Rajnath Singh, highlighting the significance of their comprehensive strategic partnership, which was elevated following Modi's visit to the UAE in 2015. Modi noted that Dubai has been instrumental in advancing this partnership, while Jaishankar expressed appreciation for the Crown Prince's positive sentiments towards their collaboration. Singh underscored the priority of defence cooperation and the potential for joint projects in innovation and technology, reaffirming both countries' commitment to regional peace and prosperity. Sheikh Hamdan is scheduled to visit Mumbai before concluding his trip on Wednesday.
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Apr 08 2025, 7 pm
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