The Federation of Indian Airlines (FIA) has called on the Indian government to waive the User Development Fee (UDF) and Aviation Security Fee (ASF) for one year at Srinagar Airport, seeking to rejuvenate air traffic to and from Kashmir, which has suffered a significant decline following the Pahalgam attack. The airline industry body, which includes major carriers such as Air India, IndiGo, and SpiceJet, argues that financial incentives, along with ongoing security measures, are essential to restoring tourism and passenger demand to the region.

In a strategic move to strengthen its presence in high-growth regions, Thomas Cook (India) has inaugurated its first franchise outlet in Mohali, Punjab. The city, part of the prominent Tricity region alongside Chandigarh and Panchkula, is witnessing a surge in both residential and commercial development. The company identified Mohali as a key source market due to robust demand for travel services. Backed by positive consumer trends—such as rising holiday frequency and larger travel budgets—Thomas Cook aims to capitalize on this momentum.

Pakistan's Finance Minister Muhammad Aurangzeb has unveiled the country’s federal budget for the fiscal year 2025-26, with a notable 20% increase in defence spending, bringing the total allocation to PRs 2,550 billion (USD 9 billion). This move comes in response to the escalating tensions between Pakistan and India, particularly following the April 2022 Pahalgam terror attack and subsequent military actions. The budget also highlights a 4.2% GDP growth target and ambitious fiscal policies, including an 8.95% increase in the tax collection goal.

India’s economy is projected to grow at 6.3% in FY2025-26, retaining its position as the fastest-growing major global economy, according to the World Bank’s latest Global Economic Prospects report. However, this projection marks a downward revision from earlier estimates due to weakening exports, rising trade barriers, and global policy uncertainty. While domestic sectors like services and construction show resilience, external headwinds are expected to constrain overall growth. The World Bank also foresees a slight recovery in the years ahead, provided geopolitical tensions ease.

Private equity firm TA Associates has exited its stake in AU Small Finance Bank (AU SFB) by selling 1.26% of its holdings for Rs 714 crore in an open market transaction. The sale involved 93.90 lakh shares, disposed of at an average price of Rs 760.07 per share. The deal marks a significant move in the private equity firm’s strategy, as it completely divests its position in the Jaipur-based bank. Meanwhile, in a separate transaction, Morgan Stanley Asia (Singapore) also sold shares in Bajaj Finserv for Rs 25 crore. This article explores the implications of these strategic divestments.

Greaves Electric Mobility Ltd (GEML), the electric mobility arm of Greaves Cotton, has appointed Vikas Singh as its new Managing Director, effective June 2, 2025. Singh, a seasoned leader with experience in both Indian and multinational companies, will play a pivotal role in driving GEML’s growth trajectory. The appointment comes at a critical juncture as the company continues to solidify its position in the burgeoning electric vehicle (EV) market.

In a significant move to preserve and promote Himachal Pradesh’s rich tradition of handicrafts and handloom, Industries Minister Harshwardhan Chauhan announced a series of initiatives to strengthen artisan welfare, expand market reach, and rejuvenate heritage crafts. At the 194th Board of Directors meeting of the Himachal Pradesh State Handicrafts and Handloom Corporation, Chauhan emphasized awareness, training, and digital promotion to counter the threat of cultural erosion. With an ambitious Rs. 23.38 crore cluster development scheme underway, and sales crossing Rs.

Marking a significant entry into India’s residential real estate segment, global investment giant Blackstone has received regulatory clearance from the Competition Commission of India (CCI) to acquire a 40% stake in Kolte-Patil Developers Ltd. The Rs. 1,150 crore deal will be executed through a combination of preferential equity issuance and promoter stake purchase, followed by an open offer to public shareholders.

In a significant step toward sustainable financing, the Pimpri Chinchwad Municipal Corporation (PCMC) successfully listed its Rs 200 crore Green Bonds on the Bombay Stock Exchange (BSE) on Tuesday. This marks the first such initiative from Maharashtra and the fourth in India, following similar issuances by municipal corporations in Indore, Surat, and Ghaziabad. The bonds were oversubscribed by 5.13 times, reflecting strong investor confidence.

In a firm rebuttal to allegations that Indian pharmaceutical companies replicate products developed by Swiss firms, Commerce and Industry Minister Piyush Goyal has categorically dismissed such claims as unfounded. Emphasizing India’s commitment to intellectual property rights, Goyal underscored the nation’s legal safeguards against unethical patent extensions and highlighted India’s refusal to tolerate “evergreening” of patents.