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The Visakhapatnam Port Authority (VPA) has set a new record by handling 60 million tonnes of cargo within the first 249 days of the financial year 2025-26, surpassing its previous benchmarks of 60 MMT in 273 days in FY 2024-25 and 275 days in FY 2023-24. Chairperson M Angamuthu attributed this achievement to the dedication of the workforce, effective cargo evacuation strategies, and stakeholder trust. He emphasized the VPA's commitment to enhancing service quality through infrastructure development, digitalisation, and green initiatives. Despite challenges in global trade and logistics, the VPA's strong performance is driven by strategic initiatives focusing on alternative cargoes and improved coordination with trade partners. The authority aims to meet its annual target of 90 MMT for the current financial year, reinforcing its role in promoting economic growth and trade facilitation in the region. 
Published: Dec 06 2025, 6 pmeznews.inThe US trade negotiating team, led by Deputy US Trade Representative Rick Switzer, is set to visit India for three days starting December 10 to discuss the stalled first phase of a bilateral trade deal. This comes after Russian President Vladimir Putin's recent visit to New Delhi, where both nations pledged to enhance trade and investment. India aims to focus the talks on rolling back the 50% additional tariffs imposed on its goods, which have strained exports, particularly in labor-intensive sectors. While India has proposed increased market access for US goods in exchange for tariff reductions, key sensitivities remain, particularly regarding US demands for access to dairy products and genetically modified (GM) crops. Commerce Secretary Rajesh Agrawal noted that some issues are non-negotiable for India, and the outcome of the upcoming discussions will hinge on political decisions from both sides.
Published: Dec 06 2025, 7 pmeznews.inThe Indian government has imposed a cap on domestic airfares following a surge in prices amid widespread flight cancellations by IndiGo, which grounded approximately 850 flights on Saturday. The Ministry of Civil Aviation (MoCA) has mandated that IndiGo complete all pending passenger refunds by 8:00 p.m. on Sunday and has set maximum fare limits based on flight distance, ranging from ₹7,500 for routes up to 500 km to ₹18,000 for those over 1,500 km. These limits exclude certain fees and do not apply to Business Class or RCS UDAN flights. Airlines are also prohibited from charging rescheduling fees for affected passengers. IndiGo has been instructed to establish dedicated support cells to assist with refunds and ensure the timely delivery of delayed baggage. Other airlines, including Air India and SpiceJet, are increasing capacity to accommodate stranded travelers. Passengers continue to experience difficulties at airports, particularly in Hyderabad, where IndiGo cancellations were significant.
Published: Dec 06 2025, 7 pmeznews.inIndia and the United States are set to begin three days of discussions on December 10 regarding the initial phase of their proposed bilateral trade agreement, with talks concluding on December 12. This meeting, led by USTR Deputy Rick Switzer, marks the US officials' second visit since the imposition of a 25% tariff on Indian goods linked to Russian crude oil purchases. The Indian delegation is headed by Joint Secretary Darpan Jain, while Assistant USTR Brendan Lynch represents the US. Commerce Secretary Rajesh Agrawal expressed optimism about finalizing a framework trade deal this year to address tariff issues affecting Indian exporters. The negotiations aim to double bilateral trade to ₹500 billion by 2030, with the US remaining India's largest trading partner. However, Indian merchandise exports to the US have recently declined, highlighting the urgency of the agreement amid ongoing tariff challenges.
Published: Dec 06 2025, 5 pmeznews.inUnion Home and Cooperation Minister Amit Shah has expressed optimism that the adoption of a circular economy model in the dairy sector could boost farmers' incomes by 20% over the next five years. Speaking at an event in Gujarat's Vav-Tharad district, Shah highlighted the successful initiatives of Banas Dairy, which include converting cattle dung into biogas and bio-fertiliser, thereby generating additional income for farmers. He announced that a concrete plan for nationwide implementation of this model would be developed during a meeting with MPs in Banaskantha. Shah emphasized the potential for dairy farmers to diversify their income through global demand for various dairy products not currently produced in India. He also praised women dairy farmers for their significant contributions and assured that the government is committed to providing the necessary finance and technology to support this initiative, aligning with Prime Minister Modi's 'White Revolution 2.0' goals.
Published: Dec 06 2025, 4 pmeznews.inIndia's economy has outperformed expectations, growing by 8.2% in the fiscal second quarter ending September, driven by strong consumer spending and increased production ahead of local festivals, despite challenges from US tariffs. Finance Minister Nirmala Sitharaman announced that the economy is projected to maintain a growth rate of at least 7% for the year, bolstered by low inflation and recent tax cuts. The Reserve Bank of India has also revised its GDP growth forecast for the fiscal year to 7.3%, while lowering its inflation estimate to 2%. Amidst global economic pressures, the Indian government is implementing reforms to enhance domestic growth, including tax reductions and regulatory changes. Sitharaman noted that the depreciation of the rupee is benefiting exporters, and she expressed confidence in the resilience of the economy's fundamentals, which is reflected in increased retail participation in stock markets and home loan demand.
Published: Dec 06 2025, 4 pmeznews.inAir India has taken proactive measures to cap economy class fares on non-stop domestic flights, effective Thursday, in response to soaring airfares amid widespread flight cancellations by IndiGo due to pilot shortages. The airline announced its fare cap to mitigate the impact of demand and supply fluctuations, acknowledging the challenges posed by various flight permutations on third-party platforms. Air India is also working to increase capacity to assist stranded passengers and their baggage. Other airlines, including SpiceJet and regional carrier Fly91, are following suit by adding extra flights to accommodate affected travelers. SpiceJet Chairman Ajay Singh expressed concern over the situation, emphasizing the government's efforts to resolve the ongoing issues swiftly. The airline industry is currently facing significant disruptions, leading to considerable inconvenience for passengers across the country.
Published: Dec 06 2025, 4 pmeznews.inIndiGo Airlines faced significant operational disruptions over the weekend, cancelling over 1,000 flights on Friday and more than 400 on Saturday due to a pilot shortage. The chaos particularly affected Kempegowda International Airport in Bengaluru, where 104 flights were cancelled, including 61 arrivals and 63 departures. Major airports in Delhi and Mumbai also saw substantial cancellations, with 109 flights grounded in Mumbai and 106 in Delhi. Following the crisis, IndiGo CEO Pieter Elbers issued a video apology after three days of silence, acknowledging the inconvenience caused to passengers. The Directorate General of Civil Aviation (DGCA) provided temporary relief by relaxing flight duty and rest period regulations for pilots, allowing for a return to fewer than 1,000 flights on Saturday. The airline is grappling with the implications of new court-mandated regulations while attempting to restore normalcy in its operations.
Published: Dec 06 2025, 3 pmeznews.inAhead of the Budget 2026, Finance Minister Nirmala Sitharaman announced plans to simplify customs regulations, marking it as a key reform agenda for the government. Speaking at the HT Leadership Summit, she emphasized the need for a comprehensive overhaul to enhance transparency and ease compliance, drawing parallels with recent income tax and Goods and Services Tax (GST) reforms aimed at boosting consumer spending. Sitharaman indicated that proposed customs reforms, including duty rate rationalisation, could be unveiled in the upcoming Budget on February 1. She noted a steady reduction in customs duties over the past two years and highlighted the elimination of additional tariff rates on industrial goods. On the depreciating rupee, which recently hit a record low against the dollar, she expressed confidence that it would find its natural level. Meanwhile, India's economy is projected to grow by 7% or more this financial year, bolstered by strong factory production and a robust services sector.
Published: Dec 06 2025, 3 pmeznews.inEconomic Affairs Secretary Anuradha Thakur has highlighted India's enhanced fiscal discipline under the Fiscal Responsibility and Budget Management (FRBM) framework, alongside the expansion of the formal tax base and increased transparency in fiscal systems at both Union and State levels. Speaking at a seminar on public financial management (PFM) for Global South countries, Thakur noted that innovations such as paperless budget preparation and electronic fund releases have fostered a transparent fiscal ecosystem. She emphasized the transformative impact of the Goods and Services Tax (GST) and the integration of budgetary workflows through systems like the Public Financial Management System (PFMS). Controller General of Accounts TCA Kalyani echoed these sentiments, underscoring India's commitment to custodial integrity in public finance. The seminar served as a platform for knowledge exchange, with participants discussing India's digital solutions and their applicability to treasury reforms in developing economies.
Published: Dec 06 2025, 1 pm
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