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India's manufacturing sector experienced its slowest expansion in two years in December, as demand weakened and production was curtailed, according to a business survey. The HSBC India Manufacturing Purchasing Managers' Index (PMI) dropped to 55.0 from 56.6 in November, marking the lowest level since December 2023. While the index remains above the 50 threshold indicating growth, the decline highlights a significant loss of momentum, primarily driven by weaker domestic demand. New orders rose at their slowest pace in two years, and hiring nearly stagnated, with the employment index at its lowest since early 2024. Factory production growth also slowed to a 38-month low, and export growth fell to a 14-month low, impacted by US tariffs. Despite a slight rise in input costs, inflation remains subdued, allowing the Reserve Bank of India to consider further rate cuts to stimulate consumption. Business sentiment has dimmed, with confidence in future output at its lowest in nearly three-and-a-half years. 
Published: Jan 02 2026, 10 ameznews.inClouds gathered over the south-west Bay of Bengal on Friday, bringing moderate to heavy rainfall to parts of Tamil Nadu and the Sri Lankan coast. A cyclonic circulation off Sri Lanka, combined with a trough of lower pressure extending from Lakshadweep to Comorin, has resulted in widespread precipitation, particularly in Tenkasi district, where Sivasailam recorded 20 cm of rain in just four hours. The eastern slopes of the Nilgiris also experienced significant rainfall, with nine cm reported by Friday morning. This weather pattern is reminiscent of heavy downpours seen in the early 1990s, raising concerns about climate change impacts. The Regional Meteorological Centre in Chennai forecasts continued light to moderate rain across Tamil Nadu, Puducherry, and Karaikal over the next few days. Meanwhile, a western disturbance is expected to bring scattered rainfall and snowfall to northern India, with fog reported in several regions.
Published: Jan 02 2026, 11 ameznews.inIndia's Goods and Services Tax (GST) collections for December 2025 demonstrated resilience, rising 6.1% year-on-year to ₹1.75 lakh crore, despite significant rate cuts earlier in the year. Experts, including Pratik Jain from Price Waterhouse & Co LLP, noted that this growth, largely driven by imports, is encouraging and suggests a potential year-on-year growth of around 9% if the trend continues. Manoj Mishra from Grant Thornton Bharat highlighted the structural strength of the economy, with a notable 19.7% increase in import-related GST, indicating robust supply chains. As the Union Budget 2026-27 approaches, calls for further GST reforms, including compliance automation and litigation reduction, are gaining traction. Karthik Mani from BDO India pointed out a month-on-month decline of 4.3% in net collections, while Mahesh Jaising from Deloitte India emphasized the positive impact of festive consumption and GST council policies on compliance and cash flow.
Published: Jan 02 2026, 9 ameznews.inCustoms officers at international airports in India will now be required to wear Body Worn Cameras (BWC) during interactions with passengers, as mandated by the Central Board of Indirect Taxes & Customs (CBIC). This initiative aims to enhance transparency and accountability in customs operations, aligning with global best practices. Officers must inform passengers that their interactions are being recorded, with footage securely stored for 90 days, or longer if needed for investigations or judicial purposes. The BWC will be positioned on the officer's uniform to ensure clear recording, and each device will operate independently without WiFi or Bluetooth connectivity. Recordings will be transferred to a secure storage system at the end of each shift, with strict protocols against tampering or unauthorized access. This move is part of a broader effort to improve the Ease of Doing Business and public confidence in customs administration.
Published: Jan 02 2026, 9 ameznews.inThe Defence Research and Development Organisation (DRDO) has achieved a significant milestone, with the Defence Acquisition Council approving 22 Acceptance of Necessity (AoN) for various DRDO-developed systems, valued at approximately Rs 1.30 lakh crore, to be manufactured by Indian industries by 2025. This marks the highest AoN value cleared in a single year, underscoring India's commitment to self-reliance under the Aatmanirbhar Bharat initiative, according to DRDO Chairman Samir V Kamat. Key systems include advanced missile systems, integrated air defence, and drone detection technologies. Kamat emphasized the importance of collaboration among stakeholders to address future challenges and highlighted the successful induction of numerous products into the Central Armed Police Forces and other services. He also noted that 11 contracts worth Rs 26,000 crore have been signed for various defence systems, reflecting DRDO's pivotal role in bolstering India's defence manufacturing capabilities.
Published: Jan 02 2026, 8 ameznews.inIndia's fiscal deficit for the first eight months of FY26 has reached ₹9.77 lakh crore, accounting for 62% of the Budget Estimate, a significant increase from ₹8.47 lakh crore, or 54% of the Revised Estimate, during the same period last year. This 15.4% year-on-year rise is attributed to a sharp 28% increase in capital expenditure, reflecting the government's investment-led fiscal strategy aimed at fostering medium-term growth. However, concerns persist over lagging tax revenues and subdued overall receipts, despite some support from higher-than-expected dividend transfers from the Reserve Bank of India. The report from Union Bank of India highlights the growing importance of state revenues and borrowing in shaping consolidated government finances, especially with the phasing out of the Goods and Services Tax compensation cess. While the central government's fiscal stance aligns with medium-term consolidation goals, sustained revenue growth and effective expenditure management will be crucial for future stability.
Published: Jan 02 2026, 8 ameznews.inUnion Minister Jayant Chaudhary chaired the concluding session of the week-long Kaushal Manthan on Thursday, focusing on vital reforms for India's skilling ecosystem. The discussions centered on implementing outcome-based grading mechanisms for Industrial Training Institutes (ITIs) to enhance quality and the strengthening of Sector Skill Councils (SSCs). Chaudhary, who holds dual roles in Skill Development and Education, emphasized aligning reforms with national priorities and establishing Skill Resolutions for 2026 to guide future policy actions. Key proposals included improving training quality through better monitoring, simplifying institutional processes, and ensuring continuous curriculum updates to meet technological advancements and industry needs. The session also highlighted the importance of creating clear pathways for skill development, catering to various demographics, including school dropouts and working professionals, supported by flexible credit frameworks. The overarching goal is to build a resilient and adaptable skilling ecosystem in India.
Published: Jan 01 2026, 11 pmeznews.inThe Corporate Affairs Ministry has announced a significant easing of compliance requirements for company directors, replacing the annual KYC filing with a simplified process every three years under the Companies Act, 2013. This amendment, notified on December 31, 2025, will take effect on March 31, 2026, following a review of Rule 12A of the Companies (Appointment & Qualification of Directors) Rules, 2014. The new framework introduces a revised KYC form that allows directors to update their mobile numbers, email addresses, and residential addresses, as well as reactivate their Document Identification Number (DIN). While verification through a digital signature and professional certification will be required only for certain updates, all directors who have completed their KYC to date will have their next filing due by June 30, 2028. Those yet to submit their KYC can still reactivate their DINs until the new rules come into effect.
Published: Jan 01 2026, 10 pmeznews.inUnion Fertilizers Minister Jagat Prakash Nadda inaugurated a new integrated e-bill system on Thursday, aimed at streamlining the processing of fertilizer subsidies worth approximately Rs 2 lakh crore. This digital platform replaces traditional manual workflows, eliminating the need for physical bill movement and enhancing transparency and efficiency in governance. Fertilizers Secretary Rajat Kumar Mishra hailed the launch as a significant milestone in modernising financial operations within the department. The initiative, a collaboration between the Integrated Financial Management System and the Public Financial Management System, creates a centralised digital audit trail for financial transactions, facilitating real-time monitoring and audits. The system allows fertilizer companies to submit claims online and track payment statuses, ensuring timely subsidy releases and compliance with financial regulations. With built-in controls to validate payments and reduce fraud risk, the e-bill platform is set to transform the subsidy payment process significantly.
Published: Jan 01 2026, 10 pmeznews.inTextile mills in India are expressing concern over the lack of communication from the government regarding the extension of duty-free cotton imports, which expired on December 31, 2025. This waiver, initially introduced in August, was aimed at alleviating supply pressures on mills facing high US tariffs. K Venkatachalam from the Tamil Nadu Spinning Mills Association highlighted that cotton arrivals are significantly lower than last year, with production expected to fall below 300 lakh bales. Durai Palanisamy of the Southern India Mills Association noted that the end of the duty-free regime could hinder competitiveness, particularly with an impending free trade agreement. Traders anticipate that the discontinuation of the exemption will bolster domestic prices, which are currently below minimum support levels. While the Cabinet is reportedly inclined to extend the waiver, final approval from the Agriculture Ministry is still pending, leaving the industry in a state of uncertainty.
Published: Jan 01 2026, 9 pm
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