eznews.inThe 8th session of the Codex Committee on Spices and Culinary Herbs (CCSCH8) concluded in Guwahati, finalising standards for 19 spices, including large cardamom, vanilla, and coriander, which are now recommended for adoption by the Codex Alimentarius Commission. This session saw participation from 30 countries, underscoring a growing global commitment to ensuring quality, safety, and authenticity in the spice trade. The successful establishment of these standards, particularly for vanilla, which faced technical challenges, reflects international collaboration aimed at enhancing market access and export competitiveness, especially for leading producers like India. P. Hemalatha, Secretary of the Spices Board, noted that these benchmarks will provide clarity for farmers and exporters, ultimately benefiting consumers. The session highlights the increasing demand for verified quality and traceability in food products, with spices being a key focus in this evolving landscape. 
Published: Oct 17 2025, 8 pmeznews.inThe Indian government has set an ambitious target to procure 463.49 lakh tonnes (lt) of rice from the kharif crop during the 2025-26 marketing season, which runs from October to September. In a notable surge, rice procurement in the first half of October has more than doubled to over 48 lt, valued at ₹17,240 crore, largely due to early harvesting in Punjab and Haryana. Punjab has emerged as a significant contributor, purchasing 18.46 lt—over three times last year's figure—while Haryana's procurement rose by 54% to 23.08 lt. Despite the extended procurement periods, experts suggest that purchases may conclude earlier than scheduled due to the early harvest. Farmers in Punjab have raised concerns over not receiving the minimum support price (MSP) due to moisture content issues. Meanwhile, procurement in Tamil Nadu has also seen a significant increase, with operations starting earlier this year.
Published: Oct 17 2025, 8 pmeznews.inThe Indian government has extended the application deadline for Round 4 of its Production Linked Incentive (PLI) scheme for white goods, which includes components for air conditioners and LED lights, until November 10. Initially scheduled from September 15 to October 14, the extension reflects a robust industry response and growing investment interest, according to the Department for Promotion of Industry and Internal Trade (DPIIT). Launched in April 2021 with a total outlay of ₹6,238 crore, the PLI scheme aims to enhance domestic manufacturing, promote localization of components, and bolster India's competitiveness in the global market for air conditioning and LED lighting. Previous rounds of the scheme have already attracted significant investment, contributing to increased manufacturing capacity and job creation across the sector.
Published: Oct 17 2025, 8 pmeznews.inNirmal Kumar Minda has been appointed as the new President of the Associated Chambers of Commerce and Industry of India (Assocham), with Amitabh Chaudhry, Managing Director and CEO of Axis Bank, serving as Senior Vice-President, pending Reserve Bank of India approval. Minda, a prominent figure in the auto industry for over five decades, is recognized for his contributions to the supply chain and innovation, emphasizing customer-centric and people-first approaches. He aims to enhance self-reliance in the auto component sector through local development and foreign technology partnerships. Minda outlined five key growth areas for Assocham: Make in India, ease of doing business, MSME growth, digital economy, and sustainability. Chaudhry, with a 38-year career in various sectors, expressed commitment to strengthening industry-government connections and delivering actionable insights. Manish Singhal, Assocham's Secretary General, highlighted the new leadership's potential to drive India's economic growth through collaboration and innovation.
Published: Oct 17 2025, 6 pmeznews.inAt Assocham’s 105th Annual General Meeting in New Delhi, Union Minister of Commerce and Industry Piyush Goyal outlined India's strategic trade approach, emphasizing partnerships with non-competitive nations to foster balanced and mutually beneficial agreements. He highlighted recent free trade agreements (FTAs) with Mauritius, Australia, the UAE, and EFTA countries, which are designed to protect domestic industries while enhancing market access and promoting investment and technology collaboration. Goyal assured that these FTAs safeguard India's interests, particularly in sensitive sectors, and are pivotal for sustainable economic growth. He also noted India's commitment to achieving 500 gigawatts of renewable energy capacity by 2030 and expressed confidence that services exports will soon surpass merchandise exports. Additionally, Goyal mentioned ongoing initiatives with start-ups focused on recycling waste for rare earth elements, underscoring the importance of self-reliance and robust supply chains in India's economic landscape.
Published: Oct 17 2025, 7 pmeznews.inGold prices in India have surged by ₹20,073 per 10 grams, or 18%, over the past month, reaching a new high of ₹129,584 per 10 grams, driven by a strong 'fear of missing out' (FOMO) among buyers as Dhanteras and Diwali approach. Retail demand is expected to rise by 12-15% this festive season, with a focus on lightweight designs and investment-grade pieces, according to the All India Gem and Jewellery Domestic Council (GJC). Despite the rising prices, which have increased 63% since last Dhanteras, sentiment remains positive, with overall sales projected to grow by 18-20%. Experts attribute the gold rally to ongoing geopolitical tensions and market dynamics, while silver demand has also surged, with prices climbing to ₹191 per gram. As buyers rush to secure their purchases, the momentum in gold prices is anticipated to continue through the festive season.
Published: Oct 17 2025, 7 pmeznews.inIndia's crude oil imports from Russia rebounded in early October, reversing a three-month decline as refineries ramped up production to meet festive demand. Ship tracking data indicates that imports rose to approximately 1.8 million barrels per day (bpd), up from 1.6 million bpd in September, driven by attractive discounts on Russian oil amid reduced demand in Western markets. Despite US President Donald Trump's claims that Prime Minister Narendra Modi agreed to halt Russian imports, Indian officials have denied any such conversation. Analysts suggest that Russian crude remains crucial for India's energy needs, accounting for about 34% of total imports, and that any significant shift away from Russian oil would be economically challenging. While India is diversifying its oil sources, a sudden cut in Russian imports is deemed unlikely without formal sanctions, as it could jeopardize energy security and lead to inflationary pressures.
Published: Oct 17 2025, 5 pmeznews.inBrazilian aerospace manufacturer Embraer has intensified its efforts to market the C-390 Millennium medium transport aircraft to the Indian Air Force (IAF) through a strategic cooperation agreement with the Mahindra Group. Signed during the inauguration of Embraer’s new office in Aerocity, Delhi, the agreement builds on a previous memorandum of understanding from February 2024, aiming to establish India as a hub for the C-390's manufacturing and support. The IAF is seeking to replace its aging fleet of AN-32 and IL-76 aircraft, with interest from various global manufacturers. Concurrently, India has proposed its Akash missile system to Brazil, as Defence Minister Rajnath Singh and Brazilian Vice-President Geraldo Alckmin discussed potential co-development and co-production of defence equipment. This collaboration highlights the strengthening ties between India and Brazil, with both nations committed to enhancing their defence capabilities and industrial cooperation.
Published: Oct 17 2025, 4 pmeznews.inIn a significant initiative to bolster agricultural value chains in Jharkhand, Bangalore-based Social Alpha and Sustain Plus, in collaboration with various stakeholders, have unveiled a plan aimed at benefiting approximately 100,000 small and marginal farmers over the next four years. The project will empower 40,000 women across 20 Farmer Producer Organisations (FPOs) in 20 blocks, focusing on enhancing agricultural practices from pre-production to post-harvest stages. Announced during an innovation showcase in Ranchi, the partnership with PRADAN aims to stabilize production and elevate households within the value chain. Jharkhand's Agriculture Minister Shilpi Neha Tirkey emphasized the need for farmers to engage in diverse agricultural activities and integrate innovative solutions into government schemes. The initiative builds on previous successes, including the deployment of over 4,300 clean energy systems benefiting 16,000 households, and aims to strengthen the dairy sector, impacting over 10,000 dairy farmers.
Published: Oct 17 2025, 4 pmeznews.inThe Commerce Ministry and Niti Aayog are advocating for the easing of tariffs and anti-dumping duties on certain Chinese imports, acknowledging India's increasing dependence on Chinese raw materials for industrial growth. Measures under consideration include allowing anti-dumping duties to lapse on products like axle beams and steering components, and cutting tariffs on raw materials essential for sectors such as leather and engineering goods. This shift comes as India seeks to balance its trade relations with both the U.S. and China, particularly after a 2020 border clash strained ties. Recent data shows a significant rise in imports from China, with September figures exceeding $11 billion, contributing to a widening trade deficit. The government is also contemplating easing investment restrictions on Chinese firms where national security risks are minimal, reflecting a nuanced approach to trade policy amid global economic pressures.
Published: Oct 17 2025, 4 pm
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