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The Sensex closed at 84,481.81, down by 77.84 points, while crude oil prices fell by ₹12 to ₹5,069. Gold and silver also saw declines, with gold priced at ₹134,289, down ₹605, and silver at ₹205,765, down ₹1,670. In aviation news, IndiGo is facing a Public Interest Litigation (PIL) in the Delhi High Court following a significant operational collapse that resulted in the cancellation of over 4,600 flights, stranding more than 1.2 million passengers. The crisis stemmed from the airline's inadequate preparation for new Flight Duty Time Limitation (FDTL) safety norms, which increased mandatory pilot rest periods. The Competition Commission of India (CCI) has initiated proceedings against IndiGo under the Competition Act, 2002, to investigate potential abuse of market dominance, given the airline's 65% share in the Indian aviation sector. 
Published: Dec 18 2025, 4 pmeznews.inThe Indian Council of Agricultural Research (ICAR) has made significant strides in crop development, releasing 23 new varieties cultivated through radiation techniques over the past five years. Union Minister of State for Agriculture, Bhagirath Choudhary, announced that ICAR is also advancing genome editing in 24 field crops and 17 horticultural crops, with two genome-edited rice varieties already developed. Additionally, the Biotechnology Research and Innovation Council has created a low glucosinolate mustard line, currently under evaluation. ICAR's Indian Institute of Agricultural Biotechnology in Ranchi, with a budget of ₹23.89 crore, is focusing on genome editing in various crops. The new varieties, designed for diverse agroclimatic conditions, boast traits such as increased yield and disease resistance. Furthermore, the National Innovations in Climate Resilient Agriculture project is assessing climate change impacts and promoting adaptive technologies across 651 agricultural districts, enhancing farmers' resilience to climate variability.
Published: Dec 18 2025, 6 pmeznews.inThe National Bank for Agriculture and Rural Development (Nabard) is set to launch a ₹1,000-crore second fund for start-ups, primarily through its investment arm, Nabventures, which aims to contribute around 40% of the total investment. This new fund, expected to be introduced this financial year, will focus on rural development, particularly in agriculture and climate technology, building on the success of its first fund that fully invested in 19 companies. Nabard is also prioritizing digital transformation to enhance support for farmers and self-help groups (SHGs), with plans to establish a data warehouse to facilitate access to vital agricultural advisories. The initiative aims to empower approximately 95 lakh SHGs, particularly women-led groups, to foster microenterprises and job creation. Nabard's Chairman, Shaji KV, emphasized the importance of leveraging data to innovate solutions for rural challenges and improve the share of cooperatives in agricultural credit.
Published: Dec 18 2025, 6 pmeznews.inIn December 2025, IndiGo, India's largest airline, faced a significant crisis, stranding lakhs of passengers due to mass flight cancellations attributed to a shortage of pilots. This incident followed a tumultuous year for Indian civil aviation, marked by a tragic Air India Boeing 787 crash shortly after take-off from Ahmedabad, which resulted in the death of 241 passengers and crew, raising safety concerns. The aviation sector also grappled with slow domestic traffic growth and financial strains from the closure of Pakistan airspace, impacting Air India's operations. Despite these challenges, the year began positively with increased travel demand during the Kumbh Mela, and upcoming airport openings in Navi Mumbai and Noida promise to enhance the industry’s prospects. Experts emphasize the resilience of travel demand, with a focus on improving customer experience and strategic growth in the face of ongoing challenges.
Published: Dec 18 2025, 6 pmeznews.inDuring a recent visit to Muscat, Prime Minister Narendra Modi and Sultan Haitham bin Tarik of Oman signed a trade pact aimed at bolstering economic ties while safeguarding India's domestic interests. The agreement, finalized on Thursday, notably excludes duty concessions on sensitive products, including agricultural items like dairy, tea, and coffee, as well as gold, silver, jewellery, and various labour-intensive goods. The Indian Commerce Ministry emphasized that these exclusions are designed to protect local farmers and micro, small, and medium enterprises (MSMEs). For products of export interest to Oman, India has implemented a tariff-rate quota (TRQ) system, allowing limited duty concessions on items such as dates and petrochemicals, with an annual quota of 2,000 tonnes for duty-free dates. Additionally, Oman has permitted Indian firms to import marble blocks, which are otherwise banned in the Gulf nation.
Published: Dec 18 2025, 5 pmeznews.inIndia's sugar production for the 2025/26 marketing year is projected to increase by 18% to 30.9 million metric tons, despite diverting 3.4 million tons for ethanol production, according to Food Secretary Sanjeev Chopra. This rise in output comes as the government seeks to protect sugarcane farmers from income losses due to surplus supplies, which could pressure global sugar prices already near five-year lows. To manage the surplus, New Delhi has approved exports of 1.5 million tons for the current season, following a previous ban due to drought conditions. Chopra noted that domestic demand is around 29 million tons annually, and with production set to exceed this, the industry anticipates a gradual decline in prices by mid-January. The government is also considering raising the floor price for sugar sales to support farmers and ensure timely payments. Sugar prices have already dropped nearly 4% since the marketing year began on October 1.
Published: Dec 18 2025, 5 pmeznews.inIn a recent interview, Sumesh Patel, President of SITA's Asia Pacific region, expressed optimism about India's aviation sector despite a challenging 2025. He noted that while air traffic growth has slowed, the underlying demand remains strong, primarily due to a shortage of aircraft to meet passenger needs. Patel highlighted that over 90% of global airlines and airports are investing in technology, with India leading in areas like biometric adoption through initiatives such as Digi Yatra. However, he acknowledged space constraints at Indian airports limit the deployment of self-service technologies like baggage drops. Despite these challenges, Patel affirmed that passenger engagement with existing technologies is on par with other Asia Pacific nations. SITA is committed to India, with its largest global office in Gurgaon, focusing on manufacturing kiosks and self-bag drop equipment to support both local and international markets.
Published: Dec 18 2025, 5 pmeznews.inCrop conditions across India are reported to be largely normal, bolstered by favourable weather and adequate soil moisture. As of November 30, the area under mustard cultivation reached approximately 77.06 lakh hectares, marking a 6% increase from the previous year, with significant growth in states like Rajasthan and Madhya Pradesh, according to Sanjeev Asthana, President of the Solvent Extractors’ Association of India (SEA). While some localized stress was noted due to uneven rainfall, overall crop health remains satisfactory. In addition, castor crop acreage has also risen by 6% to an estimated 9.09 lakh hectares. The government’s National Mission on Edible Oils aims to boost domestic oilseed production to 69.7 million tonnes by 2030-31, enhancing sustainability in the sector. Furthermore, SEA is advocating for standard packaging for edible oils to improve consumer clarity and regulatory compliance.
Published: Dec 18 2025, 4 pmeznews.inIndia has signed a Comprehensive Economic Partnership Agreement (CEPA) with Oman, marking its 17th trade pact aimed at enhancing bilateral trade and investment. This agreement follows India's recent trade deals with countries including the UAE, Australia, and Japan, and is part of a broader strategy to diversify export markets and attract foreign investment. Under the CEPA, Oman will eliminate customs duties on various Indian products, including textiles and pharmaceuticals, while India will offer tariff concessions on Omani goods like dates and petrochemicals. The pact is expected to come into effect in the first quarter of the next fiscal year. In FY25, India's exports to Oman reached $4.1 billion, primarily in naphtha and petrol, while imports totaled $6.6 billion, dominated by crude oil and liquefied natural gas. Sensitive products, including dairy and gold, are excluded from concessions to protect domestic interests.
Published: Dec 18 2025, 4 pmeznews.inIndia and Oman signed a free trade agreement (CEPA) on Thursday, granting duty-free access to 98% of India's exports, including textiles, agricultural, and leather goods, while India will reduce tariffs on Omani products like dates and petrochemicals. The agreement, expected to take effect in the first quarter of 2024, comes as India faces high tariffs in the US, its largest export market. Signed by Commerce Minister Piyush Goyal and Oman's Minister Qais bin Mohammed Al Yousef in Muscat, the deal covers 99.38% of India's exports to Oman and includes significant tariff eliminations for labour-intensive sectors. Additionally, Oman will enhance mobility for Indian professionals, increasing the quota for intra-corporate transferees and extending stay durations. This pact marks India's second trade agreement with a Gulf Cooperation Council member, following a similar deal with the UAE, and reflects India's strategy to strengthen ties with key regional partners.
Published: Dec 18 2025, 4 pm
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