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A Learjet 45 carrying Maharashtra's Deputy Chief Minister Ajit Pawar crashed near Baramati Airport on January 28, 2026, resulting in the deaths of Pawar and four others, including two crew members. The aircraft, operated by VSR Aviation, was valued at ₹50 crore and held a liability insurance of ₹210 crore through ICICI Lombard General Insurance, which expressed condolences to the victims' families. The plane, manufactured in 2010, was part of a fleet of 17 aircraft operated by VSR Ventures, a Non-Scheduled Operator with a valid Air Operator Permit until April 2028. Baramati Airport is classified as an uncontrolled airfield, with traffic information managed by flight instructors. ICICI Lombard confirmed that their insurance policy is supported by adequate reinsurance arrangements and stated their commitment to regulatory compliance while coordinating with authorities for the claims process. 
Published: Jan 28 2026, 9 pmeznews.inIndia has excluded a range of sensitive agricultural items from tariff reduction commitments in its Free Trade Agreement (FTA) with the European Union (EU), according to government officials. Key exclusions include dairy products, cereals, tea, coffee, spices, pulses, poultry, soymeal, and various fruits and vegetables, with the dairy sector receiving full protection, including high-end cheese. The EU has similarly safeguarded its sensitive sectors, such as meat, dairy, honey, rice, sugar, and tobacco. Both parties have agreed to respect each other's sensitivities in the negotiations, which concluded recently. The EU will provide preferential market access for approximately 87% of agricultural tariff lines, including processed food products. The FTA is expected to be signed and implemented later this year, pending legal review and political approval, while all Indian imports will need to comply with the EU's stringent health and food safety regulations.
Published: Jan 28 2026, 10 pmeznews.inPrime Minister Narendra Modi addressed the Wings India 2026 event virtually on Wednesday, urging global investors to capitalize on India's burgeoning aviation industry, which is set to expand from 160 to over 400 airports by 2047. His remarks came amid a somber backdrop following a tragic plane crash in Maharashtra that claimed the life of Deputy Chief Minister Ajit Pawar, leading to the absence of key officials at the event. Modi highlighted India's advancements in aircraft design, manufacturing, and maintenance, emphasizing the country's shift towards domestic production of military and civil aircraft. He also noted the rapid growth of passenger traffic and the expansion of Indian airlines, which have ordered over 1,500 new planes. The Prime Minister reaffirmed the government's commitment to affordable air travel through the UDAN scheme and announced plans for sustainable aviation fuel production, positioning India as a significant player in the global aviation market.
Published: Jan 28 2026, 9 pmeznews.inIndia's recent Free Trade Agreement (FTA) with the European Union aims to balance consumer access to premium European wines while safeguarding local producers. To protect Indian wine makers, no tariff concessions will be offered on lower-priced European wines under €2.5, and duties on wines priced between €2.5 and €10 will gradually decrease to 30% over seven years, with a final cap of 20% for wines above €10. This phased approach allows India's domestic wine industry to enhance its competitiveness. Additionally, Indian wines will benefit from reduced customs duties in the EU, and India will receive duty-free entry for 85,000 tonnes of table grapes. Industry experts, including Sula Vineyards, have expressed optimism about the agreement, noting it protects over 90% of Indian wines while promoting market expansion. The deal is seen as a significant step towards enriching India's retail landscape with diverse European products and improving the overall quality of offerings.
Published: Jan 28 2026, 8 pmeznews.inIndiGo CEO Pieter Elbers has emphasized that three days of flight disruptions in December should not overshadow the airline's two-decade performance. As India’s largest airline, IndiGo faced significant challenges affecting numerous customers, but Elbers remains optimistic about the airline's growth trajectory. The airline received 55 Airbus A320Neo aircraft in 2025 and will continue to add new planes weekly, including nine A321XLRs for international routes. Elbers stated, “We can’t let three days define what we have built over 20 years,” highlighting the airline's ambition to become one of the world's largest. Additionally, IndiGo has launched a new ancillary service called Upfront, offering customers enhanced seating, complimentary snacks, and flexible cancellation options. Elbers noted that as IndiGo evolves from a domestic carrier to a global player, it is committed to providing reliable, affordable, and personalized travel experiences to meet changing customer expectations.
Published: Jan 28 2026, 8 pmeznews.inUrea sales in India rose by 3.8% to 31.16 million tonnes from April to December 2025, according to the Fertiliser Association of India (FAI). Despite a 3% decline in domestic urea production to 22.44 million tonnes, imports surged by 85.3% to 8 million tonnes. Urea remains a crucial fertiliser for small farmers due to its subsidised price of Rs 267 per 45 kg bag, significantly lower than other fertilisers like di ammonium phosphate (DAP) and muriate of potash (MOP). DAP production fell by 3.9% to 3.03 million tonnes, while imports increased by 45.7% to 5.95 million tonnes. MOP sales grew by 5.3% to 1.77 million tonnes, despite a 22.4% drop in imports. FAI officials highlighted the importance of balanced fertilisation practices and coordinated production planning to meet nutrient needs effectively as the Rabi season progresses.
Published: Jan 28 2026, 8 pmeznews.inChemical giant BASF has announced plans to establish a global Digital Hub in Hyderabad, set to open in the first quarter of 2026. This new center will enhance BASF's existing digital network across Europe and Asia Pacific, consolidating digital services to improve efficiency and service delivery. Dirk Elvermann, BASF's Chief Financial Officer and Chief Digital Officer, emphasized that the hub will ensure competitive digital service delivery. Preparations are already underway, with hiring for the new entity, BASF Digital Solutions Private Limited, commencing immediately. The Hyderabad hub will complement BASF's long-standing operations in India, which include manufacturing and R&D facilities, and aims to support the company's goal of streamlined operations. With over 130 years in India and a workforce of 2,411, BASF reported sales of approximately €2.4 billion in 2024, underscoring its significant presence in the region.
Published: Jan 28 2026, 8 pmeznews.inIndia's pulse imports are projected to decline by approximately one-third to around 5 million tonnes in the current financial year, down from 7.3 million tonnes last year, primarily due to higher carried forward stocks, a weakening rupee, and a 30% duty on yellow peas. Bimal Kothari, Chairman of the India Pulses & Grains Association, noted that imports fell significantly, with around 4 million tonnes recorded by December and an expected additional million tonnes by March. The rupee's depreciation, which has seen a 7-8% decline in four months, has further increased import costs. Despite some price increases in certain varieties, Kothari assured consumers that availability remains stable, with good stocks and prices below the minimum support price. The overall pulse imports from January to November 2025 decreased by 8%, while production estimates for the kharif 2025 season are slightly lower at 74.13 lakh tonnes.
Published: Jan 28 2026, 8 pmeznews.inThe shipping industry in Kochi has welcomed the India-EU Free Trade Agreement (FTA), anticipating a significant boost in trade volumes through Cochin Port. Currently, exports to the EU represent 15-17% of total trade, with marine products accounting for 12-15%. The revised tariff structure is expected to enhance these figures, potentially leading to increased capacity and new shipping services, according to Varghese George, president of the Kerala Steamer Agents Association. The agreement, which eliminates tariffs on key sectors such as textiles, apparel, and clothing—reducing rates from 12% to 0%—is set to drive a substantial increase in trade, particularly from India to Europe. Marine products will also benefit, with tariffs dropping from 26% to nil. This development is particularly advantageous for Kerala, known as South India's reefer hub, and is expected to elevate export activity and foreign exchange earnings for the government.
Published: Jan 28 2026, 6 pmeznews.inIndia has announced a new import policy for apples from European Union countries, setting a Minimum Import Price (MIP) of ₹80 per kg along with a 20% duty. The policy includes a quantitative restriction, initially capping imports at 50,000 tonnes, which will gradually increase to 100,000 tonnes over the next decade. This move aims to protect domestic apple growers, as the effective landed cost for EU apples will remain at ₹96 per kg, ensuring price stability and safeguarding farmer incomes. In 2024, India imported approximately 500,000 tonnes of apples, with the EU contributing 56,717 tonnes. The government emphasized that the quota-based access is designed to replace existing imports without significantly increasing overall volumes. Additionally, Indian apples will enjoy zero duty for 5-7 years when exported to EU countries, creating new opportunities for domestic growers in the European market.
Published: Jan 28 2026, 7 pm
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