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Bombay Burmah Trading Corporation, a subsidiary of the Wadia Group, has officially terminated its agreement with MSTC Ltd, which served as the selling agent for the company's immovable properties through e-auctions. The decision, effective from November 18, was made due to the online bidding process's lack of success and its misalignment with the Corporation's strategic objectives, as stated in a regulatory filing. Despite the termination, the company reassured investors that it would not have a material impact on operations. Following the announcement, shares of Bombay Burmah Trading Corporation surged by 9.8% on the Bombay Stock Exchange, reaching ₹2,022.9. The move reflects the company's ongoing efforts to refine its asset management strategies in a challenging market environment. 
Published: Nov 18 2025, 9 pmeznews.inThe Indian government has proposed a ₹30,000 crore outlay for an expanded version of the UDAN (Ude Desh Ka Aam Nagrik) regional air connectivity scheme, aiming to enhance air travel to 120 additional destinations and serve four crore passengers over the next decade. The Expenditure Finance Committee is currently reviewing the proposal, which seeks to extend the scheme beyond its original 2027 deadline. Of the total funding, ₹18,000 crore is allocated for new airport development, while ₹12,000 crore will support viability gap funding to incentivize airlines to connect underserved regions. Launched in 2016, the original UDAN scheme has operationalized 649 of 915 routes, connecting 93 airports, including heliports and water aerodromes. The revised framework aims to address previous challenges, attract private investment, and improve access to remote areas, with a focus on hilly and Northeastern districts.
Published: Nov 18 2025, 10 pmeznews.inThe Indian government is contemplating a revision of the minimum selling price (MSP) for sugar, which has remained unchanged at ₹31 per kg since February 2019. The Indian Sugar and Bio-Energy Manufacturers Association (ISMA) has proposed an increase to ₹40 per kg, while the National Federation of Cooperative Sugar Factories (NFCSF) advocates for a rate aligned with the current pan-India ex-mill realization. This discussion follows the Centre's recent approval for the export of 15 lakh tonnes of sugar for the 2025-26 season. Additionally, there are calls for an increase in ethanol prices derived from sugarcane, as current rates are deemed unviable for mills. The cost of sugar production has risen to ₹40.24 per kg due to a 29% increase in the fair and remunerative price of sugarcane. The government is also focusing on digital initiatives to enhance efficiency in the food distribution sector.
Published: Nov 18 2025, 9 pmeznews.inIndiaOne Air has signed a letter of intent with De Havilland Canada to acquire up to 10 Twin Otter Series 300-G aircraft, a move announced at the Dubai Air Show. Currently operating four Cessna Grand Caravan aircraft, the regional carrier serves tier II and III cities in East India under the Udan (Ude Desh Ka Aam Aadmi) scheme. The new Twin Otter 300-G aircraft will enhance IndiaOne Air's ability to reach remote and underserved areas, aligning with its mission to improve air travel accessibility across the country. The Twin Otter 300-G boasts advanced avionics, improved operational efficiency, and the capability to operate from short runways, making it a suitable addition to the airline's fleet. "Its performance, reliability, and versatility align perfectly with our mission of connecting the unconnected," said Prem Kumar Garg, CEO of IndiaOne Air.
Published: Nov 18 2025, 8 pmeznews.inUnion Minister for Finance & Corporate Affairs Nirmala Sitharaman chaired the fifth Pre-Budget Consultation in New Delhi on Tuesday, focusing on the startup ecosystem for the upcoming Union Budget 2026-27. This marks the first time startups have been included in these discussions, reflecting their growing significance, with over 200,000 registered with the Department for Promotion of Industry and Internal Trade (DPIIT). Key attendees included prominent figures from various startups, who are hopeful for measures similar to last year's budget, which introduced a ₹10,000 crore Fund-of-Funds for startups. Concurrently, Sitharaman also met with capital market representatives, who advocated for reduced transaction taxes and improved market efficiency, as the sector anticipates raising ₹1.6 lakh crore through IPOs in FY26. The discussions come as the government aims to address economic growth, job creation, and demand stimulation amid geopolitical uncertainties, with the Budget presentation scheduled for February 1.
Published: Nov 18 2025, 8 pmeznews.inIn a significant policy shift, the Indian government has announced that starting from the next Kharif season, crop losses due to wild animal attacks and inundation will be covered under the Pradhan Mantri Fasal Bima Yojana (PMFBY). This decision comes in response to long-standing demands from farmers, particularly those in flood-prone areas and regions near wildlife corridors. Under the PMFBY, farmers pay a fixed premium, with the government subsidizing the excess costs. The revised framework will recognize wild animal attacks as a new risk category, requiring states to identify responsible species and vulnerable districts. However, experts have raised concerns about the 72-hour reporting deadline for crop damage, citing challenges in difficult terrains. The inclusion of inundation in the PMFBY aims to address the protection gap left since its removal from the localised calamity category in 2018, which had left many farmers without compensation for flood-related losses.
Published: Nov 18 2025, 8 pmeznews.inIndia has been re-elected to the Codex Executive Committee for Asia during the 48th Codex Alimentarius Commission (CAC48) and has proposed the establishment of a global standard for cashew kernels to standardise quality norms for this important commodity. The Indian delegation, led by Rajit Punhani from the Food Safety and Standards Authority of India, highlighted the significance of this standard in enhancing agricultural trade. Additionally, India played a pivotal role in advancing various global standards, including the adoption of a standard for fresh dates and the forwarding of a standard for fresh curry leaves. The country also contributed to guidelines on pesticide residue monitoring and the prevention of aflatoxin contamination in peanuts. Furthermore, India supported the transition of regional standards for laver products into global standards and welcomed new initiatives for pasteurised liquid camel milk, showcasing its commitment to improving food safety and quality in the region.
Published: Nov 18 2025, 8 pmeznews.inIndia's exports of key labour-intensive goods, including garments, leather products, engineering items, gems and jewellery, and chemicals, faced significant challenges in October due to a 50% tariff imposed by the US in late August. Exports to the US fell 8.6% year-on-year to $6.3 billion, marking a second consecutive monthly decline, although this figure was 14.5% higher than September's $5.5 billion. The textiles sector was particularly hard hit, with exports dropping 12.9% to $2.66 billion as buyers delayed orders. Engineering exports also saw a sharp decline of 16.71% to $9.37 billion, ending a four-month growth streak. The leather and gems sectors reported declines of 15.66% and 29.5%, respectively. Exporters remain hopeful for a resolution on the tariffs, as ongoing negotiations between India and the US could restore demand and competitiveness in the market.
Published: Nov 18 2025, 8 pmeznews.inIndia has been re-elected to the Executive Committee for the Asia region at the 48th Codex Alimentarius Commission (CAC48), a decision made unanimously by global members. This reappointment solidifies India's leadership role in representing the technical and trade interests of the Asian continent until CAC50 in 2027. The Indian delegation, led by Rajit Punhani, CEO of the Food Safety and Standards Authority of India, comprised senior officials from various government bodies, including the Union Ministries of Health and Commerce, the Spices Board, and the Marine Products Export Development Authority, among others. This collaborative effort underscores India's commitment to enhancing food safety standards and trade practices in the region. The announcement was published on November 18, 2025.
Published: Nov 18 2025, 7 pmeznews.inThe ongoing negotiations for a bilateral trade agreement (BTA) between India and the US are focused on achieving a "fair, equitable, and balanced" deal, according to Commerce and Industry Minister Piyush Goyal. The US is seeking greater market access for dairy and genetically modified agricultural products, while India aims to roll back the US's 50% tariffs on its goods. Goyal emphasized the need to balance the interests of various stakeholders, including farmers and small industries, before finalizing the agreement. Despite challenges, including the US's imposition of reciprocal tariffs due to India's oil purchases from Russia, Goyal reassured that the relationship remains strong. The US has indicated a willingness to reduce tariffs as India decreases its Russian oil imports. Both sides are refining their offers, with hopes of reaching a consensus that benefits both economies.
Published: Nov 18 2025, 7 pm
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