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Blenders remain active in the Kochi Tea auction, contributing to a continued appreciation in the CTC dust market. Auctioneers Forbes, Ewart & Figgis reported that good liquoring teas were firm and more expensive in sale 43, with blenders absorbing 66% of the 657,543 kg offered. However, some high-priced teas showed irregularities and lower prices. Major packeteers drove strong demand, while exporters engaged minimally at the lower end of the market. In the orthodox dust segment, primary grades remained steady, but overall prices fell, leading to significant withdrawals from the 15,500 kg offered. Conversely, the orthodox leaf market thrived, with 94% of the 312,038 kg sold, bolstered by export demand from the Middle East and CIS countries, resulting in a ₹1 increase in average prices to ₹186.50. The CTC leaf market saw steady prices for medium brokens and Fannings, with Kerala and upcountry buyers providing fair support. 
Published: Oct 27 2025, 3 pmeznews.inThe Indian government has approved the procurement of various pulses and oilseeds, including soybean, at minimum support prices (MSPs) across several states, with a total estimated expenditure exceeding ₹15,000 crore. In Madhya Pradesh, the target for soybean procurement is set at 22,21,632 tonnes, with a financial implication of ₹1,775.53 crore. Unlike other states, farmers in Madhya Pradesh will receive the difference between the MSP and the market price directly into their bank accounts under the Price Difference Payment Scheme (PDPS). Currently, the average market price for soybean is ₹4,056 per quintal, which is 27% lower than the MSP of ₹5,328 per quintal, prompting concerns among farmers about inadequate support. Union Agriculture Minister Shivraj Singh Chouhan emphasized that these measures aim to enhance farmers' returns and safeguard their incomes against market volatility, contributing to a self-reliant India.
Published: Oct 27 2025, 8 pmeznews.inAt the 20th East Asia Summit in Kuala Lumpur, External Affairs Minister S. Jaishankar criticized Western sanctions on oil trade, highlighting their role in creating market distortions and selective application of principles. He noted that India, which relies on Russia for nearly 40% of its oil imports, is adjusting its sourcing strategies following recent US sanctions on Russian firms Rosneft and Lukoil. Jaishankar emphasized the need for the world to adapt to new circumstances, fostering fresh understandings and resilient solutions. He also addressed the broader implications of ongoing global conflicts on food security and energy flows, expressing India's support for peace initiatives in Gaza and Ukraine. Furthermore, he announced plans for 2026 to be designated as the ASEAN-India year of maritime cooperation, proposing an EAS Maritime Heritage Festival in Gujarat and the hosting of the 7th EAS Conference on Maritime Security Cooperation.
Published: Oct 27 2025, 8 pmeznews.inIn its Monthly Economic Review released on Monday, India's Finance Ministry highlighted the country's economic resilience amid global challenges, including slowing demand in China and persistent inflation in advanced economies. While the IMF has raised the global growth forecast to 3.2% for 2025, it warns that this momentum may wane by 2026. In contrast, India is experiencing robust domestic demand, bolstered by GST reforms and a festive spending surge, with passenger vehicle sales up 34.8% during Navratri. The IMF projects India's GDP growth at 6.6% for FY26, supported by strong consumer sentiment and investment. Despite a cautionary note regarding global uncertainties impacting external demand, the report emphasizes that structural reforms will help mitigate these risks. Additionally, inflation remains low at 1.54%, enhancing household purchasing power, while agricultural production shows a positive outlook despite some challenges.
Published: Oct 27 2025, 8 pmeznews.inThe Indian government has approved seven investment proposals totaling ₹5,532 crore under the Electronics Components Manufacturing Scheme, marking the first tranche of approvals from a pool of 249 proposals worth ₹1.15 lakh crore. Union Electronics and IT Minister Ashwini Vaishnaw announced that the approved units, located in Tamil Nadu, Andhra Pradesh, and Madhya Pradesh, will produce multi-layer printed circuit boards (PCBs), HDI PCBs, camera modules, copper-clad laminates, and polypropylene films. These facilities are expected to meet significant portions of domestic demand, including 20% for multi-layer and HDI PCBs and 100% for copper-clad laminates, which are currently imported. The projects are projected to save ₹18,000-₹20,000 crore in import bills and create 5,195 direct jobs, generating components worth ₹36,559 crore. Notably, this initiative will establish India's first copper-clad laminate manufacturing facility, crucial for PCB production.
Published: Oct 27 2025, 8 pmeznews.inAt the India Maritime Week, Anura Karunathilaka, Sri Lanka’s Minister of Ports and Civil Aviation, emphasized the importance of enhancing regional port capacities to alleviate supply chain bottlenecks and facilitate swift cargo movement. Speaking at the ministerial plenary session, he highlighted the potential for collaborative efforts among India, Sri Lanka, and neighboring countries to establish a robust network of ports that would bolster the South Asian economy and promote seamless trade. Acknowledging India's leadership in maritime development, Karunathilaka urged for increased dialogue and knowledge exchange to address pressing issues such as climate change and marine pollution. He praised India's advancements in deep-water ports and logistics, describing them as a model of maritime excellence that could serve as a framework for regional cooperation, ultimately fostering trade, connectivity, and shared prosperity across the Indian Ocean.
Published: Oct 27 2025, 8 pmeznews.inThe Indian Navy is set to commission its indigenously built large survey vessel, Ikshak, at Naval Base Kochi on November 6, 2025, enhancing its hydrographic capabilities and commitment to self-reliance. The vessel, constructed by Garden Reach Shipbuilders and Engineers (GRSE) Ltd, boasts over 80% indigenous content and represents a significant collaboration with Indian MSMEs. Admiral Dinesh K Tripathi, Chief of the Naval Staff, will preside over the induction ceremony, marking Ikshak as the third vessel in the survey vessel (Large) class, following INS Sutlej and INS Sarvekshak. Designed for hydrographic surveys, Ikshak also features dual-role capabilities for humanitarian assistance and disaster relief, and includes dedicated accommodation for women, reflecting the Navy's progressive approach. The ship's name, meaning "The Guide," underscores its mission to enhance maritime safety and India's naval prowess. Additionally, INS Sutlej is currently engaged in a joint hydrographic survey mission in Mauritius.
Published: Oct 27 2025, 7 pmeznews.inIndia's mustard production for the 2024-25 season has decreased to 126.06 lakh tonnes, down from 132.59 lakh tonnes the previous year. However, sowing in Rajasthan, the country's largest mustard-producing state, has surged, with acreage increasing by 84% year-on-year to over 16.84 lakh hectares as of October 24. This figure is approaching the five-year average of 35.22 lakh hectares. Favorable conditions, including high soil moisture from a late monsoon and rising market prices—currently around ₹72,000 per tonne—are encouraging farmers to plant more mustard. The Centre has set a minimum support price (MSP) of ₹6,200 per quintal for the upcoming rabi marketing season, reflecting a ₹250 increase from the previous year. Experts suggest that if climatic conditions remain stable, mustard production could see a significant boost this season.
Published: Oct 27 2025, 7 pmeznews.inUnion Home Minister Amit Shah inaugurated India Maritime Week 2025 in Mumbai on Monday, emphasizing the country's commitment to a sustainable maritime future that balances development with environmental concerns. He highlighted India's efforts to enhance its port and maritime infrastructure while supporting small island nations and Global South countries vulnerable to climate change. The event, the largest of its kind to date, aims to showcase India's maritime ambitions and attract investment amid global trade tensions. Shah outlined Prime Minister Narendra Modi's maritime vision, anchored in security, stability, and self-reliance, with initiatives like Sagarmala and the blue economy aimed at positioning India among the top five global shipbuilding nations. He also mentioned significant projects, including the $5 billion Great Nicobar Project and a $200 million investment in India's largest dock at Cochin Shipyard, while addressing ecological concerns raised by opposition leaders.
Published: Oct 27 2025, 7 pmeznews.inBusiness sentiment in India experienced a decline for the first time in four quarters during the July-September period of FY26, according to the National Council of Applied Economic Research (NCAER). The Business Confidence Index (BCI) fell to 142.6 from 149.4 in Q1, although it remained higher than the previous year's Q2 figure of 134.3. The survey, which included responses from 484 companies, highlighted that while 82% of firms expect production to rise in the next six months—up from 79% in Q1—many anticipate only modest increases. Additionally, the share of firms expecting exports to grow rose from 67% to 73%. However, expectations for pre-tax profits softened, with only 54% of firms anticipating an increase, down from 61%. NCAER attributed the moderation in sentiment to global uncertainties, including new US tariffs, despite the positive impact of a GST rate cut expected in the coming quarters.
Published: Oct 27 2025, 7 pmeznews.inIn a significant boost to Maharashtra's maritime ambitions, Union Home Minister Amit Shah and Chief Minister Devendra Fadnavis inaugurated India Maritime Week 2025 in Mumbai on Monday, where the state government signed memorandums of understanding (MOUs) worth ₹56,000 crore. The agreements aim to enhance port infrastructure, establish shipyards, and promote clean fuel and water transport. Fadnavis highlighted the strategic importance of these MOUs, which include a major ₹42,000 crore investment for the expansion of Dighi port and additional commitments from JSW Infrastructure Ltd and other firms for port development. The agreements also encompass collaborations with IIT Bombay for skill development and Swedish company Candela for passenger transport solutions. Minister of Ports Nitesh Rane emphasized that these initiatives will transform the water transport system, improving commutes for residents and facilitating the development of new waterways and a marina in Mumbai.
Published: Oct 27 2025, 6 pm
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