Latest news with #inIndia
Indian Express
an hour ago
- Business
- Indian Express
Bengaluru Metro: Yellow Line connecting Electronic City ready for commercial operations
The Commissioner of Metro Railway Safety (CMRS) Friday gave the safety clearance to Bengaluru Metro's 18.82-km-long Yellow Line, clearing the way for commercial operations on the stretch. This development comes nearly eight years after the civil works for the Yellow Line were awarded in 2017. The Yellow Line connects RV Road with Bommasandra via Electronic City. A Bengaluru Metro Rail Corporation (BMRCL) spokesperson told The Indian Express, 'We have received the safety clearance report from CMRS with certain general observations. We will now inform both the state government and the central government, seeking permission to operationalise the line for revenue services.' The official added, 'Currently, we have three trainsets, and three coaches of the fourth train set have been dispatched from Titagarh. The remaining coaches will be dispatched for Bengaluru either today (Friday) or tomorrow and should reach the Hebbagodi depot by August second week.' The fourth train set will also have to undergo signalling and other tests for a couple of weeks before commissioning it for revenue services. BMRCL is eyeing a high-profile inauguration event in August, with officials preparing to invite Prime Minister Narendra Modi to flag off the line. A private firm has reportedly been engaged to produce a documentary film showcasing the new corridor, including drone footage of the stations and route, for the inaugural program. The event is tentatively scheduled for the first or second week of August. BMRCL has also drawn up three possible operational plans. The first involves opening the entire 16-station stretch with three trains at a frequency of 24 minutes. The second plan proposes partial operation between RV Road and Bommasandra. The third option is to run services between Bommasandra and the Central Silk Board stations. The Yellow Line has suffered significant delays, primarily due to disruptions in the supply of metro coaches. CRRC, the Chinese firm originally contracted to supply the rolling stock, failed to meet the 75 per cent local manufacturing requirement mandated by the 'Make in India' policy. The issue was exacerbated by the India-China border standoff in June 2020, complications with foreign direct investment (FDI) norms, and COVID-related disruptions. To resolve the impasse, CRRC partnered with Bengal-based Titagarh Rail Systems to manufacture and deliver the coaches domestically. However, visa delays for Chinese engineers and the late arrival of propulsion systems from Japan further slowed down testing and commissioning of the corridor.
Time of India
9 hours ago
- Business
- Time of India
Chandigarh to host its inaugural ET SME Make in India Regional Summit on August 7
Live Events Chandigarh has long been touted as one of the most beautiful and well-planned cities in India. The city's green spaces and modern architecture with well-maintained roads and transportation systems have made it a desirable location not only for living but also as a business hub. Its strategic location as the capital of both Haryana and Punjab, along with its proximity to Delhi, makes it ideal for trade and commerce. It's these very strengths that make Chandigarh the perfect host for the upcoming ET Make in India SME Regional Summit on August has a strong presence in various industries, such as the light engineering sector, textiles, pharmaceuticals, etc. Its strategic location also provides access to educated and skilled talent from nearby states. The city is also recognised for its traditional crafts like Phulkari embroidery and Punjabi city has a total number of 54,865 micro, small, and medium enterprises (MSMEs)—53,494 are micro enterprises, 1,247 are small, and 124 are medium enterprises, as per the Udyam Summit, to be held in the city for the first time, will begin with a keynote address on the topic 'From policy to prosperity: A roadmap for MSME success.'There will be an exclusive fireside chat with Nagaraj Garla, Executive Director of IDBI Bank , on the topic titled 'Catalysing 'Make in India' Growth: IDBI Bank 's Strategic Imperatives for Empowering MSMEs.'This will be followed by an engaging panel discussion on the topic 'Chandigarh & beyond: Strengthening regional MSME ecosystems in North India.' The panellists here include Somveer Anand, CEO, Innovation Punjab; Dilpreet Singh Boparai, General Secretary, Mohali Industries Association (MIA); and Arush Chopra, Co-founder, Just SME Summit will also serve as a platform providing networking opportunities to local small businesses and industry leaders. They can engage, connect, and have an open endeavour will be conducted under the theme of 'Empowering MSMEs: Driving India's Century of Sustainable Growth,' to champion, acknowledge, and fortify the Indian MSME sector. It will be conducted by with IDBI Bank as the Banking & Lending Partner and Canon as the Tech Enabler. Each summit will comprise a diverse array of discussions and sessions, including panel discussions, masterclasses, and showcases of MSME solutions This is the third annual edition of the ET Make in India Regional Summit series. In the inaugural year, the programme covered Ahmedabad, Chennai, and Hyderabad. In this edition, 20 cities will be covered, including Thane, Nagpur, Dehradun, and ET MSME Awards, India's most coveted awards programme celebrating the achievements of the MSME sector, is back with its sixth edition. Register here to be recognised as India's top MSME
Time of India
13 hours ago
- Business
- Time of India
India to shoot down F-35 fighter jet deal after Trump's 25% tariff salvo?
Imports may rise, but defence deals off the table Live Events India rejects F-35 offer, prioritises Make in India Trump blasts Indian tariffs and Russia ties Talks slow, frustration rises in Washington Defence shift: No F-35, no easy alternatives Strategic gap and regional pressures (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Indian government is evaluating its next steps after US President Donald Trump declared a 25 percent tariff on Indian goods, a decision that took policymakers by surprise. The tariffs are set to take effect from 1 in New Delhi were, according to Bloomberg, "shocked and disappointed" by the announcement. But retaliation is off the table, at least for now. Instead, the government is examining trade options to maintain relations with its largest trading Minister Piyush Goyal addressed Parliament, saying, 'The implications of the recent developments are being examined,' and added that the government is working with exporters and industry groups to understand the impact. He assured the House that India will take 'all necessary steps to secure and advance our national interest.'Sources cited by Bloomberg said India is looking at ways to reduce its trade surplus with the US. This may include increasing imports of American natural gas, communication equipment, and gold over the next few years. But the government is not considering any new defence purchases.'Despite considering a boost in purchases of American goods, the Modi government is unlikely to buy additional defense equipments from the US, a key demand from Trump,' Bloomberg quoted officials familiar with the matter as position directly impacts the US pitch to sell India the advanced F-35 fighter Prime Minister Narendra Modi's February visit to Washington, Trump personally pushed the sale of the F-35A stealth fighter jets. At first, Indian officials did consider the proposal, but eventually turned it conveyed its position to the US, making it clear that it was not interested in off-the-shelf defence acquisitions. Instead, the focus is on co-developing and co-producing defence equipment in India, aligning with the country's long-running Make in India reported that 'the Modi government is unlikely to approve any major new defence deals with the US in the near future.'The US Defence Department has not publicly commented. India's Ministry of Defence also declined to respond to Bloomberg's request. Economic Times could not independently verify these a series of posts on Truth Social, Trump launched a direct attack on India's trade policies.'India is our friend, we have, over the years, done relatively little business with them because their tariffs are far too high, among the highest in the world, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any country,' Trump also criticised India's defence and energy ties with Moscow, saying, 'They have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of energy, along with China, at a time when everyone wants Russia to stop the killing in Ukraine — All things not good!'Later, he added, 'I don't care what India does with Russia. They can take their dead economies down together, for all I care. We have done very little business with India, their Tariffs are too high, among the highest in the World.'US officials have blamed India for dragging its feet on trade talks. Treasury Secretary Scott Bessent told CNBC, 'The whole trade team has been frustrated' by India's negotiating stance. He also took aim at India's foreign policy direction, saying it 'has not been a great global actor' because of its closeness to the public criticism, diplomatic channels remain open. India is still preparing to host the next Quad summit, which includes the US, Japan, and commerce secretary Ajay Dua told Bloomberg TV, 'We need to be a little more accommodating in the ongoing negotiations,' though he also noted that India cannot promise major energy imports or outbound investment in the current rejection of the F-35 offer reflects deeper issues in its defence strategy. It has no immediate alternative for acquiring a fifth-generation fighter. The F-35 remains the only combat-proven aircraft in this category currently available on the global own defence sector has struggled to develop anything close. The Tejas programme, aimed at delivering a fourth-generation fighter, has taken decades and only delivered around 38 aircraft, 17 of which are prototypes. Its limited combat performance has restricted export potential and slowed mass foreign collaboration, developing a fifth-generation fighter remains out of reach. For now, India is looking to France. By 2028, it plans to begin manufacturing fuselages for Rafale jets at a rate of up to two units per month. That's a long regional security challenges are growing. China has accelerated the production and export of next-gen fighter aircraft. Pakistan, meanwhile, has started inducting new fighters from China, gradually upgrading its air force this context, some experts believe India may still turn to Russia's Su-57, the only other fifth-generation option available. India's military already depends on Russian equipment across its air, land and naval forces. The existing logistics and familiarity could make this a more realistic short-term choice, even as Western ties are tested by broader geopolitical now, India is keeping its options open. Officials told Bloomberg that the government is not planning any immediate counter-measures to Trump's tariffs. But it may challenge increased US duties on steel and automobiles at the World Trade Organisation when the timing suits its it stands, the government wants to avoid escalation while keeping the door open for talks. It has no appetite for a trade war, but it won't be pushed into lopsided defence deals pressure is mounting. But New Delhi seems willing to wait it out, eyes firmly on long-term sovereignty and stability in its economic and strategic choices.(With inputs from TOI, Bloomberg)
Mint
3 days ago
- Business
- Mint
Income Tax Bill 2025: No change in tax rates, focus on simplifying language. Here's what IT dept says
The income tax department clarified that the new Income Tax Bill, 2025, does not propose any changes to tax rates, including long-term capital gains. The bill focuses on simplifying language and eliminating outdated provisions. In a post on the social media platform X, the Income Tax Department informed, 'There are news articles circulating on various media platforms that the new Income Tax Bill, 2025 proposes to change tax rates on LTCG for certain categories of taxpayers. It is clarified that the Income Tax Bill, 2025 aims at language simplification and removal of redundant/obsolete provisions.' The department added, 'It does not seek to change any rates of taxes. Any ambiguity in this respect shall be duly addressed during the passing of the Bill.' The new Income Tax Bill of 2025 was presented in Parliament in February and subsequently forwarded to a parliamentary committee. The committee submitted its recommendations regarding the bill to Parliament on July 21. The proposed Income Tax bill aims to enhance ease of doing business, lessen individual taxpayers' litigation burdens, and boost confidence for both small and large investors to Make in India and create jobs, member of select committee of Parliament Milind Deora said on Friday. 'This bill has seen several amendments. The government's objective, which is the right idea, is that this bill which is over 60 years old and has so many amendments to do away with that bill and replace it with a new, fresh bill is a new idea," Deora said. "I think that step on its own and intent will leader of reduced harassment, improve ease of doing business and will give investments to Make in India, invest in India and to create jobs," he added. Deora highlighted that the 60-year-old IT Bill contains many outdated provisions which have been previously amended. He stated that this bill will benefit both MSMEs and larger foreign companies, while also easing the burden on individual taxpayers. The proposed income tax bill contains 23 chapters and 536 provisions, a significant reduction from the previous 47 chapters and 819 provisions in the 1961 bill. (With inputs from agencies.)
News18
3 days ago
- Business
- News18
Over 300 firms from 15 nations to take part in International Drone Expo
New Delhi, Jul 29 (PTI) Over 300 companies from more than 15 countries will showcase their innovations, particulary drones and AI models during the 2-day International Police Expo and International Drone Expo beginning here on Thursday. The event will highlight revolutionary, cutting-edge technologies and solutions—from metallurgy, drones, AI models, and weapons & ammunition to armoured vehicles, security vehicles, and autonomous control systems—designed for the global policing and homeland security sector, a statement said. Electronics Corporation of India Ltd (ECIL), Austria-based Doculus Lumus GmbH, will be among the participants in the event organised by Nexgen Exhibitions. SSS Defence will display its advanced weapons, ammunition, and autonomous control technologies-epitomising the essence of 'Make in India for the World.' MSAB, a global leader in mobile data extraction and analysis, will showcase comprehensive, cutting-edge solutions that help extract more data, solve more cases, and improve investigative efficiency. The event comes at a time when the Indian defence sector has showcased the armed forces trust in 'Make in India', where indigenous weapons, drones, and equipment led missions such as 'Operation Sindoor', it added. The expo provides a unique platform for government representatives, police officials, and security professionals to engage directly with global and domestic manufacturers, suppliers, and innovators, he added. PTI KKS ANU view comments First Published: July 29, 2025, 13:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
