PM Narendra Modi will inaugurate the Chenab Bridge on June 6. This bridge is the world's highest railway bridge. It connects the Kashmir Valley with India via rail. The bridge is a part of the Udhampur-Srinagar-Baramulla Rail Link project. The project faced engineering challenges due to terrain and seismic sensitivity. The Katra-Srinagar Vande Bharat train service will also launch.
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Reliance Infrastructure received a reprieve as the NCLAT stayed insolvency proceedings initiated against it. This followed an appeal against the NCLT Mumbai's order admitting an insolvency plea by IDBI Trusteeship Services. Reliance Infra contended that the full amount of Rs 92.68 crore, related to Dhursar Solar Power's tariff claims, had already been paid.
Economist S Mahendra Dev assumes the role of Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), filling the vacancy since November. The council has been reconstituted for two years, retaining full-time members and inducting new part-time members. Dev, a development economist, brings extensive experience from academia and the financial sector.
Central Depository Services Limited (CDSL) shares are recovering remarkably. The stock rose 60.4% from its March low. It reached a high of Rs 1,680 on Monday.
Maruti Suzuki India announced a record-breaking achievement, transporting 5.18 lakh vehicles via Indian Railways in FY 2024-25. Since FY 2014-15, cumulative railway dispatches have reached 24 lakh vehicles, servicing over 600 cities through 20-plus railway hubs. By FY 2030-31, the company aims to increase vehicle dispatches via railways to 35 percent, reducing carbon emissions and conserving fuel.
The Mumbai consumer commission has directed Flynas, a Saudi-based budget airline, to compensate a passenger Rs 1.25 lakh for losing her baggage during a trip from Istanbul to Mumbai via Riyadh. The commission criticized the airline's lack of effort in tracing the lost bag and failure to attend the hearing, deeming their conduct as "mala fide negligence."
Mercedes Benz, Skoda-Volkswagen, Hyundai, and Kia have expressed interest in manufacturing electric vehicles in India, according to Heavy Industries Minister H D Kumaraswamy. This follows discussions regarding the 'Scheme to Promote Manufacturing of Electric Passenger Cars in India'. The scheme aims to attract global manufacturers with incentives like reduced customs duty on imported electric cars.
Brazilian aerospace giant Embraer is planning to significantly increase its sourcing from India and may even establish a final assembly line if it secures a firm order for 200 aircraft from Indian clients. Currently, Star Air is the sole Indian airline using Embraer planes. The company is in talks with Air India, IndiGo, and several startups for potential orders.
PM Narendra Modi will inaugurate the Chenab Bridge on June 6. This bridge is the world's highest railway bridge. It connects the Kashmir Valley with India via rail. The bridge is a part of the Udhampur-Srinagar-Baramulla Rail Link project. The project faced engineering challenges due to terrain and seismic sensitivity. The Katra-Srinagar Vande Bharat train service will also launch.
India's engineering exports face significant headwinds as the US prepares to impose a 50% tariff on steel and aluminium imports, effective June 4, 2025. This move, doubling existing duties, threatens approximately $5 billion in annual exports, prompting concerns from the EEPC and AAI.
WTO chief Ngozi Okonjo-Iweala acknowledged disruptions to the multilateral trading system and urged India to support China-backed investment facilitation, despite India's opposition. She emphasized India's leadership role for the upcoming MC14, particularly in agriculture, while highlighting the need to address India's concerns in that sector. Reform discussions are anticipated at the mini-ministerial meeting.