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Uttar Pradesh Chief Minister Yogi Adityanath met with Rene Piil Pedersen, Managing Director of AP Moller-Maersk, to explore opportunities for expanding the logistics company's investments in the state. The discussions highlighted Uttar Pradesh's rapid growth and the government's commitment to creating a secure, transparent environment for investors through a single-window system, timely approvals, and robust law enforcement. Adityanath emphasized the state's extensive infrastructure, including expressways and logistics hubs, making it an attractive investment destination. Vivek Sharma, Head of Business Development for the region, noted the company's positive experiences in Uttar Pradesh over the past 20 years, citing the state's corruption-free environment and strong government support. He expressed interest in further investment opportunities, reinforcing the collaborative spirit of the meeting. The state government assured the availability of necessary resources to facilitate Maersk's expansion plans. 
Published: Feb 02 2026, 6 pmeznews.inIn a bid to bolster India's civilian aircraft manufacturing capabilities, the Union Budget for Financial Year 2026-27 has introduced significant measures, according to Civil Aviation Secretary Samir Sinha. The budget proposes a full exemption of basic customs duty on components for civilian and training aircraft, aimed at enhancing domestic production and the maintenance, repair, and overhaul ecosystem. Additionally, initiatives to promote aircraft leasing at Gujarat International Finance Tec-City are set to lower operating costs for airlines, potentially reducing airfares. The budget also emphasizes the development of a seaplane ecosystem, with plans for indigenisation and a Seaplane Viability Gap Funding scheme to improve connectivity and tourism in remote areas. Overall, Sinha highlighted that these proposals aim to create an integrated aerospace ecosystem, supporting both civil and defence aviation while positioning India as a global manufacturing and export hub.
Published: Feb 02 2026, 7 pmeznews.inThe Indian government plans to introduce a revised Insolvency and Bankruptcy Code (IBC) Amendment Bill during the second half of the budget session starting March 9, 2026, following recommendations from a Parliamentary committee. Finance Minister Nirmala Sitharaman announced that the amendments aim to enhance the efficiency and timelines of insolvency proceedings, aligning India's framework with global best practices. This will mark the seventh amendment since the IBC's enactment in 2016, with the last update occurring in 2021. Key recommendations from the committee include establishing conduct standards for the Committee of Creditors, revising the appointment process for liquidators, and setting a statutory timeline for appeals to be resolved within three months. Sitharaman also highlighted the government's focus on investment to stimulate growth and addressed the volatility in gold prices amid global uncertainties, emphasizing a fiscal deficit target of 4.3% for the upcoming fiscal year.
Published: Feb 02 2026, 7 pmeznews.inPatel Retail, a diversified retail and food processing firm, has reported a remarkable 96% year-on-year increase in net profit for the December quarter, reaching ₹12 crore, driven by robust demand. The company's income surged 36% to ₹311 crore, while EBITDA rose 64% to ₹25 crore. Patel Retail has secured new orders worth ₹25 crore from various international markets, including Italy, the UK, UAE, and Saudi Arabia, highlighting strong global demand and confidence in its product quality. Chairman Dhanji Patel noted that improved profitability and margin expansion reflect the effectiveness of their integrated business model. The company has also expanded its physical retail presence with a new store in the Mumbai Metropolitan Region. Despite these positive developments, shares dipped slightly to ₹196 on Monday. The firm continues to enhance its international footprint and operational efficiency, bolstering its position in both domestic and export markets.
Published: Feb 02 2026, 7 pmeznews.inThe Union Budget 2026 has introduced a significant measure allowing Special Economic Zone (SEZ) units to sell gems and jewellery in the domestic market at concessional duties, aimed at helping manufacturers cope with declining exports. This initiative comes as overall gem and jewellery exports remained stagnant at $20.75 billion from April to December, with a staggering 44% drop in exports to the US due to punitive tariffs. The one-time measure will enable SEZ units to utilize idle capacity while ensuring a level playing field with domestic manufacturers. Industry leaders, including Kirit Bhansali of the Gem and Jewellery Export Promotion Council, welcomed the move, highlighting its potential to safeguard jobs and bolster trade amid global demand fluctuations. Additionally, the Budget supports e-commerce by removing the ₹10 lakh cap on courier exports and extends duty-free imports of lab-grown diamond seeds until March 2028, further enhancing the sector's growth prospects.
Published: Feb 02 2026, 7 pmeznews.inIrfan Razack, Chairman and Managing Director of Prestige Group, has praised the Union Budget for its commitment to fostering a future-ready economy through significant infrastructure investment and innovative financial strategies. Key highlights include an increase in public capital expenditure from ₹11.2 lakh crore in FY 2026 to ₹12.2 lakh crore in FY 2027, aimed at stimulating growth across various sectors, particularly in Tier 2 and Tier 3 cities. The introduction of dedicated Real Estate Investment Trusts (REITs) for Central Public Sector Enterprise (CPSE) asset recycling is expected to unlock nearly ₹10 lakh crore in underutilised assets, enhancing transparency and attracting private investment. Additionally, the proposed Infrastructure Risk Guarantee Fund will mitigate project risks, encouraging private developers to engage in large-scale urban projects. Overall, these measures are seen as pivotal in driving economic growth and positioning India as a global economic powerhouse, with real estate at the forefront of urban development.
Published: Feb 02 2026, 7 pmeznews.inSince 2020, the Indian government has auctioned 136 coal blocks, generating an anticipated revenue of Rs 43,000 crore and creating employment for 500,000 people, as reported by Minister of State for Coal Satish Chandra Dubey in the Rajya Sabha. The auctions, conducted in line with Niti Aayog's recommendations, have seen participation from 44 new companies, including public sector undertakings (PSUs) like Coal India. Dubey also addressed a proposal from the Telangana government regarding the Tadicherla coal block, stating that a formal request outlining its unique attributes is necessary for consideration. He emphasized that previous allotments to the Singareni Collieries had not been fully utilized, with only one block currently operational. The government aims to continue a participative bidding process for future allocations, ensuring that all coal blocks are auctioned for commercial purposes, as per the recommendations of a High-Level Committee established in 2019.
Published: Feb 02 2026, 6 pmeznews.inUttar Pradesh Chief Minister Yogi Adityanath has announced a significant initiative to enhance the state's agricultural sector through large-scale sugarcane-based intercropping with oilseeds and pulses, including mustard, lentil, urad, and moong. In a recent high-level meeting, Adityanath emphasized that this approach could substantially increase the income of sugarcane farmers, potentially multiplying their earnings. He highlighted the benefits of intercropping, which include additional production, reduced costs, and stable year-round income, thereby bolstering farmers' economic conditions. With sugarcane currently cultivated over 29.50 lakh hectares in the state, the chief minister aims to implement this plan in mission mode from 2026 to 2031, contributing to self-reliance in oilseeds and pulses. Adityanath stressed that this model not only promises higher yields and income but also aims to transform the broader agricultural landscape of Uttar Pradesh, ultimately supporting the state's goal of achieving a trillion-dollar economy.
Published: Feb 02 2026, 6 pmeznews.inThe Indian manufacturing sector showed signs of recovery in January, with the Purchasing Managers' Index (PMI) rising to 55.4 from December's 55, indicating expansion. This growth was fueled by increased domestic demand, new orders, and a slight uptick in employment, although business confidence fell to a three-and-a-half-year low, with only 15% of firms anticipating output growth. Input prices rose moderately, while factory-gate inflation eased to a 22-month low, leading to slight margin pressure for manufacturers. Despite a boost in new export business, growth was slower, primarily driven by demand from Asia, Australia, Canada, Europe, and the Middle East. The report highlighted that suppliers managed to meet rising input demand efficiently, resulting in increased input inventories, while finished goods stocks continued to decline for the third consecutive month. Overall, the sector's outlook remains cautious amid muted business confidence.
Published: Feb 02 2026, 6 pmeznews.inThe Federation of Indian Chambers of Commerce and Industry (FICCI) has renewed its call for a production-linked incentive to bolster aerospace manufacturing in India. This comes after the Union Finance Minister announced customs duty waivers on parts and components for civil and training aircraft, as well as on raw materials for defence sector maintenance, repair, and overhaul units. Notable collaborations include the Adani Group and Hindustan Aeronautics Limited partnering with Embraer and United Aircraft Corporation, respectively, to manufacture aircraft domestically, while Safran Group is establishing a maintenance, repair, and overhaul facility for M88 engines used in the Indian Air Force's Rafale jets. Jurgen Westermeier, chair of FICCI’s national civil aviation committee, emphasized that the 2026 budget supports a manufacturing-led growth strategy and urged the government to implement production-linked incentives to integrate Indian firms into the global aerospace supply chain.
Published: Feb 02 2026, 6 pm
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