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TruJet is preparing for a revival after its pandemic-induced shutdown, joining a wave of Indian start-up airlines looking to purchase aircraft amid soaring lease costs and a shortage of available planes. The average monthly lease for a pre-owned ATR72-600 turboprop is $90,000, while an A320neo costs $275,000, with used aircraft from Indonesia priced at $7 million and $60 million, respectively. The volatility of the dollar-rupee exchange rate and rising financing rates have increased leasing costs by 20-25% year-on-year, prompting airlines to consider ownership for long-term financial benefits. Start-ups like FLY91 have begun purchasing aircraft directly, citing advantages such as asset ownership and maintenance control. However, industry experts warn against buying low-priced second-hand aircraft from the grey market, emphasizing the need for regulatory compliance to maintain India's airworthiness standards. With a projected demand for over 2,000 aircraft by 2040, ownership could provide a competitive edge in India's aviation market. 
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Jun 01 2025, 7 pmeznews.inVadhvan Port Project Ltd. is poised to become India's largest port and one of the top ten globally, with plans to raise ₹30,000 crore ($3.5 billion) in debt to fund its development. Located north of Mumbai, the project is a key element of Prime Minister Narendra Modi's infrastructure initiative, with a foundation stone laid last year. The company aims to secure long-term loans with tenors of 15 to 20 years, targeting at least ₹22,000 crore in the first funding phase, facilitated by IDBI Capital. The port, expected to be completed by the end of the decade, will have the capacity to handle 23 million container units and will feature a natural depth of 20 meters, accommodating some of the largest container ships. This project is part of a broader effort to enhance India's maritime infrastructure and establish new trade routes, including the India-Middle East-Europe Corridor.
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Jun 19 2025, 4 pmeznews.inIsrael's recent military actions against Iran, likely with implicit U.S. backing, have raised concerns for India, which has long maintained strong diplomatic and economic ties with its Islamic neighbor. Iran's strategic significance to India is underscored by its geographical location and abundant energy resources, particularly through the Chabahar port project, vital for connectivity to Afghanistan and Central Asia, circumventing Pakistan. Historical ties date back to a 1950 friendship treaty, with recent agreements enhancing cooperation in various sectors. However, India's oil imports from Iran ceased in 2019 due to U.S. sanctions, significantly impacting bilateral trade, which plummeted from $5.3 billion in 2013 to $1.24 billion in FY25. As India seeks to bolster its economic engagement with Central Asia, the ongoing Iran-Israel conflict poses a threat to the Chabahar project and India's broader regional ambitions, particularly in countering China's influence.
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Jun 19 2025, 4 pmeznews.inHindustan Aeronautics Limited (HAL) has announced an expansion of its industrial capabilities in forging Inconel parts for LEAP engines, which are essential for powering single-aisle civil aircraft. This development follows a recent agreement signed with French engine manufacturer Safran Aircraft Engines, aimed at enhancing the production of rotating parts for these engines. The partnership aligns with India's "Make in India" initiative and builds on previous agreements, including a memorandum of understanding established in October 2023. HAL's Chairman D K Sunil expressed pride in this collaboration, which is expected to bolster the Indian aerospace market. Safran is also working to create a comprehensive aerospace ecosystem in India, with plans for new facilities and closer ties with local partners. The company currently operates five production sites in India and is set to open a sixth site for LEAP engine maintenance in Hyderabad by the end of the year.
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Jun 19 2025, 4 pmeznews.inIn 2024, clean energy investments in India surged to 83% of total power sector funding, according to a report by the International Energy Agency (IEA). This positions India as the third-largest country globally for power generation capacity growth over the past five years, trailing only China and the United States. The report attributes this growth to rising electricity demand driven by urban expansion, increased appliance ownership, and industrial needs. A significant portion of the investment has been directed towards renewable energy, particularly solar photovoltaic projects, which accounted for over half of non-fossil energy investments. Additionally, India emerged as the largest recipient of development finance institution funding for clean energy, receiving approximately USD 2.4 billion in 2024. While foreign direct investment in the power sector reached USD 5 billion in 2023, foreign portfolio investment has declined due to various challenges, although the long-term outlook remains optimistic.
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Jun 19 2025, 4 pmeznews.inIn a recent report, CRISIL Limited highlighted a mixed outlook for India's inflation landscape. While headline inflation based on the Consumer Price Index (CPI) fell to 2.8% in May 2025, driven by a decline in food prices, core inflation—excluding food and fuel—has remained above 4% for four consecutive months, indicating rising demand-side pressures. The ratings agency noted that the high weight of gold in India's core inflation basket, unlike global norms, could distort domestic inflation signals. Although gold's influence on the overall CPI is minimal at 1.1%, its significant weight in the core index may lead to misinterpretations of inflation trends. CRISIL cautioned that a sustained increase in core inflation could exert upward pressure on headline figures, suggesting that the recent rise is more reflective of global economic volatility than domestic factors.
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Jun 19 2025, 4 pmeznews.inIndiGo's wet-leased Boeing 787 aircraft, currently operating on the Delhi-Bangkok route, is not undergoing enhanced maintenance checks, according to the airline. The carrier has leased one Boeing 787 from Norwegian airline Norse Atlantic, with plans to add five more by early 2026. The Civil Aviation Authority of Norway is actively monitoring the situation and has confirmed that Norse's aircraft, powered by Rolls Royce Trent 1000 engines, differ from those involved in a recent incident with Air India's Boeing 787, which was equipped with GE Aerospace GEnx engines. Despite the crash in Ahmedabad, the Norwegian authority has not deemed it necessary to impose restrictions, and the Directorate General of Civil Aviation (DGCA) retains the right to inspect the aircraft. While Japan has mandated inspections for its Boeing 787 fleet, US officials maintain that grounding the aircraft is premature without safety data.
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Jun 19 2025, 3 pmeznews.inA study conducted by researchers from Mangalore University and other institutions has revealed alarming levels of particulate matter (PM) in community kitchens across Dakshina Kannada district, significantly exceeding World Health Organization air quality standards. The research, published in the *Journal of Environmental Monitoring and Assessment*, assessed PM1, PM2.5, and PM10 concentrations in 15 kitchens, finding average levels of 74 µg/m³, 111 µg/m³, and 119 µg/m³, respectively, during cooking hours. The study highlights the health risks faced by kitchen workers, particularly in poorly ventilated spaces using solid biofuels. It calls for the development of guidelines to improve air quality and emphasizes the need for effective ventilation systems. The findings aim to raise awareness about indoor air pollution and its implications for public health, particularly in densely populated regions like India, where community kitchens serve diverse populations in schools and other institutions.
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Jun 19 2025, 2 pmeznews.inOn May 30, India reduced the effective import duty on crude edible oils, including palm, soybean, and sunflower oil, from 27.5% to 16.5%, but did not extend this reduction to refined oils, which remain at 35.75%. While the duty cut aimed to stabilize domestic prices, its impact has been limited due to rising global prices, with crude soybean oil increasing by $61 per tonne and crude palm oil by $35 per tonne since the announcement. Retail prices for various oils have seen modest decreases, but inflation for oils and fats surged to 17.91% in May 2025, compared to a decline the previous year. Industry experts caution that the effectiveness of the duty cut may be undermined by global market fluctuations and geopolitical tensions, emphasizing the need for a broader approach to address domestic oilseed production and pricing strategies.
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Jun 19 2025, 1 pmeznews.inIndia's ambitious goal to install 50 gigawatts of renewable energy annually by 2030 is facing significant challenges, with litigation, policy issues, and regulatory hurdles stalling key projects. Currently, solar power accounts for nearly 48% of the nation's installed renewable energy capacity of 220 GW. Ongoing legal disputes, particularly in Rajasthan—home to the highest solar capacity—have left around 10 GW of projects worth over ₹48,500 crore in limbo, pending Supreme Court approval related to conservation measures for the Great Indian Bustard. The impending expiration of the Inter-State Transmission System (ISTS) charges waiver adds further uncertainty, threatening the economic viability of solar projects. The National Solar Energy Federation of India has urged the government to grant conditional approvals to allow work to proceed amid legal challenges, warning that delays could jeopardize solar capacity targets for fiscal years 2025 and 2026.
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Jun 19 2025, 12 pmeznews.inJewellery demand in India has declined following the April-May wedding season, leading to a significant widening of the discount on domestic gold compared to global prices, according to the World Gold Council (WGC). The average discount increased from $12 per ounce in mid-March to over $38 by June 13, attributed to subdued consumer interest. Despite this, investment demand for gold bars and coins remains strong, comprising nearly 30% of consumer demand, with a notable preference for lower-grammage coins. Consumers are increasingly exchanging old jewellery for new pieces or using it as collateral, a trend bolstered by the Reserve Bank of India's relaxed loan norms. Additionally, gold exchange-traded funds (ETFs) saw a resurgence in May, with net inflows of ₹290 crore, reflecting renewed investor interest. However, gold imports fell 13% year-on-year in May, marking a continued decline in shipments.
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Jun 19 2025, 12 pm
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