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Economy News, Latest Economic News Today | The HinduBusinessLine

GE, HAL clinch tech deal on joint jet engine plan India rejects USTR allegations, seeks termination of Section 301 probe Indian automobile sales record highest-ever sales in FY26, first time after FY19: SIAM Madhya Pradesh CM says basmati rice from the State is exported to 47 nations 63 Moons’ cybersecurity arm pilots GPS-spoofing solution at Indian airports Highways ministry notifies amendment to streamline fee for overloaded vehicles on NHs Global aviation crisis deepens as fuel shortage, Iran conflict hit airlines TRI launches agri-voltaic project to help farmers earn double income Hotel industry to hit $31 billion in 2029; listed hotel firms set to add 70k rooms by 2030: CBRE Temperatures may trend up over North-West, Central India until weekend Reduction in airport tariff credit neutral, minimal impact on revenue: Ind-Ra Global coffee prices rise as fertiliser costs and West Asia tensions threaten supply Bluspring Enterprises to acquire LSG Sky Chefs India, enters aviation catering sector China says policy to improve relations with India remains unchanged amid Arunachal naming row Research firms divided over impact of below normal monsoon on food inflation Unnat Krishi Mahotsav concludes, farmers to emerge as energy, fuel & hydrogen providers, says Gadkari Airlines may get ₹5,000 crore credit support under proposed ECLGS variant How kashmir’s breakthrough is making Gucchi mushroom farming possible Centre not taking away State’s power on bonus for agri produces, says FM Sitharaman Carriers cut flights on cost pressures, uncertain demand GE Aerospace scales AI from pilots to production; India anchors global capability West Asia crisis may push India’s current account deficit to 2% of GDP: Crisil Tax Dept to resume Tiger Global reassessment, says GAAR relief won’t alter SC ruling Ceasefire talks fail to restore vessel movement in Strait of Hormuz, fate of 599 ships remain inconclusive DMRC launches mid-life refurbishment of Blue Line trains to enhance safety and passenger experience Retail inflation likely rose 3.5-4% in March India-UK free trade pact may come into force from second week of May: Official 'West Asia war a good opportunity for energy reforms, lower costs for industry' India’s marine exports surge to ₹62,408 crore in 2024-25, Govt sets ₹1 lakh crore target PM Modi to inaugurate Dehradun-Delhi Expressway on April 14 India’s economic growth journey huge opportunity for international partners: Kwatra From diesel to daylight: How government solar schemes are powering India’s farmers The next energy leap: Replicating ethanol’s success in diesel Delhi EV Policy: Electric 3-Wheelers Only by 2027, 2-Wheelers by 2028 Windfall levy on export bound diesel, ATF raised India-flagged LPG tanker Jag Vikram crosses Strait of Hormuz after US-Iran ceasefire Muted pricing power, rising costs to curb benefits of demand in cement sector: HDFC Securities Central Railway to run four special local trains for Ambedkar Jayanti Cotton Association revises output estimates for 2025-26 up at 324 lakh bales of 170 kg each Agtech marketing in the age of regional content and creator communities Rajnath Singh, Nitin Gadkari to join 3-day agri event at Shivraj’s home turf, inaugurated today How agripreneurship will drive improved rural livelihoods in India World’s largest tur producer, yet an importer: A self-sufficiency puzzle unfolding on ground Ethanol in diesel generators: India’s next practical step towards energy security How sustainable sourcing can unlock value in India’s agri-value chains West Asia Crisis: Induction cooking may consume 13-27 GW power Govt defers power plant maintenance for three months; ready for summer demand Tractor sales cross 10 lakh mark in FY26 on strong rural demand, GST cut India to continue buying Russian crude oil India’s textile and garments exports to the US declined 28.7% in February 2026 Why India’s ₹5 pack won’t disappear, but getting smaller West Asia conflict: LPG usage at 21-month low in March E-way bill generation surged all time high of over 14 crore in March Cotton prices firm up tracking global prices Corn prices poised to fall on Iran-US ceasefire pact Air India at critical stage of transformation: Tata Sons Chairman FYL91 commences new flights to Hyderabad, Rajahmundry and Vijayawada Telangana’s GST revenue up 15% in last 3 months ASMS launches agri-commerce network AYOU in Hyderabad Ladakh turns to apricot blossoms to stretch short tourism season Govt proposes overhaul of company incorporation rules to cut paperwork, enable risk-based checks HAL delivers 4 helicopters to Coast Guard Charter services operators urge review of ATF pricing Structural gaps affect growth of India’s high-value horticulture sector: Report Rubio set to visit India in May to discuss trade, tariffs, defence, Quad DGFT rolls out procedure for allocation of calcined coke Qatar vows to remain reliable energy supplier to India amid West Asia tensions Gadkari bats for 100% land acquisition before approving NH projects India must rethink West Asia energy reliance after biggest shock in decades, says ONGC chief Sumeet SSG partners Pinnacle Industries to strengthen Maharashtra’s EMS fleet Consumer durables growth muted as demand slows, margins shrink: HDFC Securities March 2026 was the fourth-warmest month on record, says European weather agency India relaxes rice exports norms to some European countries Unseasonal rains damage rabi crops on 2.49 lakh ha, wheat most affected: Agri Minister ADB projects 6.9% growth rate for current fiscal, 70 bps lower than FY26 India-UK FTA likely by May 1; 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Chennai Port-Maduravoyal elevated corridor set for November 2027 launch
By BL Chennai Bureau · 2026-05-22 · via Economy News, Latest Economic News Today | The HinduBusinessLine
S Viswanathan, Chairperson, Chennai Port Authority and JP Irene Cynthia, Chairperson and MD, Kamarajar Port Ltd, at a press conference in Chennai.

S Viswanathan, Chairperson, Chennai Port Authority and JP Irene Cynthia, Chairperson and MD, Kamarajar Port Ltd, at a press conference in Chennai. | Photo Credit: Bijoy Ghosh

The long-delayed four-lane elevated corridor connecting Chennai Port and Maduravoyal is expected to be operational by November 2027, according to S Viswanathan, Chairperson of the Chennai Port Authority.

The ₹3,570-crore project, being executed by the National Highways Authority of India, has achieved around 25-27 per cent physical progress so far.

Speaking to reporters on Friday, Viswanathan said construction was progressing at a rapid pace and expressed confidence that the elevated corridor would be completed within the target timeline. To support seamless connectivity with the new corridor, Chennai Port is also undertaking internal road and intersection improvement works at a cost of ₹37.18 crore.

Work in progress on the Chennai Port- Maduravoyal elevated corridor project

Work in progress on the Chennai Port- Maduravoyal elevated corridor project | Photo Credit: Bijoy Ghosh

The 20.9-km elevated corridor project, originally launched in 2010, had been stalled and eventually terminated in 2016. It was revived in 2023 following requests from the Tamil Nadu government and Chennai Port Trust after recommendations by a technical committee. The project features a two-tier design aimed at segregating cargo and passenger traffic for smoother movement.

Once completed, the corridor is expected to substantially enhance cargo evacuation efficiency and boost Chennai Port’s cargo handling capacity from the current 53 million tonnes per annum (mtpa) to nearly 200 mtpa by 2047.

Viswanathan, along with J P Irene Cynthia, Chairperson and Managing Director of Kamarajar Port Limited, said that the two ports together handled a record 107 million tonnes (MT) of cargo during FY26, surpassing the previous year’s 103.37 MT. Chennai Port handled 57.90 MT, while Kamarajar Port handled 49.08 MT.

“A car is being exported every 80 seconds from Chennai and Kamarajar ports,” Viswanathan said.

Combined operating income of the two ports crossed ₹2,400 crore during the year. Chennai Port reported a record operating income of ₹1,185.01 crore and a net surplus of ₹434 crore in FY26. Kamarajar Port posted an 8.85 per cent year-on-year rise in income from operations to ₹1,239 crore and recorded its highest-ever net profit of ₹596 crore.

Total capital expenditure by the two ports stood at ₹992 crore in FY26, including ₹195 crore by Chennai Port, ₹478 crore by Kamarajar Port and ₹320 crore invested by PPP partners of KPL.

Among major infrastructure initiatives, Chennai Port will develop a multi-level car parking facility under PPP mode at a cost of ₹400 crore. The Jawahar Dock entrance is also being widened and strengthened with an investment of ₹417 crore. At Kamarajar Port, the ₹921-crore IOCL captive jetty and the ₹261-crore Coal Berth-3 project have been completed.

Cynthia also said KPL would develop a second container terminal on a DBFOT basis at an estimated cost of ₹4,288 crore, with bid documents currently under preparation.

Published on May 22, 2026