eznews.inIn the Union Budget for 2025-26, the Indian government streamlined its customs duty structure, reducing the Basic Customs Duty (BCD) slabs to eight, including a zero per cent rate. However, with over ₹1.52 lakh crore tied up in customs duty litigations, Price Waterhouse & Co has suggested the introduction of an amnesty scheme in the upcoming 2026-27 Budget to provide businesses with greater certainty. The firm also advocates for further rationalisation of customs duties, proposing a reduction in slabs to five or six to address the inverted duty structure exacerbated by recent free trade agreements (FTAs) with countries like New Zealand, the UK, and Oman. These FTAs have made finished goods cheaper than raw materials, prompting calls for a reassessment of duty rates. Additionally, industry experts are seeking improvements in trade facilitation, particularly faster customs clearances, in the next budget. 
Published: Jan 08 2026, 6 pmeznews.inIndonesia has lifted its suspension on imports of Indian groundnuts, which had been in place since September 2025 due to non-compliance with quality standards, particularly concerning aflatoxin levels. However, Indian exporters remain hesitant to resume shipments, citing the stringent new regulations imposed by Jakarta, which have reduced the list of approved exporters to around 75. Concerns persist over Indonesia's testing protocols, which differ from World Trade Organization standards, and delays in reporting aflatoxin issues. Following an Indonesian team’s visit to India in October to assess compliance, new norms, including geo-tagging, were introduced. Despite the resumption of trade, only 800 tonnes of groundnuts have been exported since the ban was lifted, as many exporters find the risks too high. Meanwhile, India's groundnut production is projected to reach a record 11.09 million tonnes, with prices rising significantly amid strong demand.
Published: Jan 08 2026, 6 pmeznews.inPassenger traffic at Mumbai International Airport (CSMIA) grew by 1.3% in 2025, reaching 55.5 million, up from 54.8 million in 2024, according to Mumbai International Airport Ltd (MIAL). This included 39.2 million domestic and over 16.3 million international passengers, with January being the busiest month, seeing nearly 5 million travelers. Notably, November recorded the airport's highest single-day traffic of 175,925 passengers on the 29th. The October-December quarter of 2025 also marked a record, handling 14.36 million passengers. Overall, CSMIA achieved a record 331,011 air traffic movements, comprising 92,141 international and 238,870 domestic flights. A peak was reached on November 21, with 1,036 aircraft movements in a single day. MIAL expanded its network by adding new international routes to cities like Almaty and Copenhagen, alongside enhanced domestic connectivity to various locations.
Published: Jan 08 2026, 4 pmeznews.inThe Agricultural and Processed Food Products Export Development Authority (APEDA) has launched an initiative named BHARATI, aimed at supporting agri-food and agri-tech startups to foster innovation and enhance export opportunities for young entrepreneurs. APEDA Chairman Abhishek Dev announced that the top 10 startups will have the chance to showcase their products on international platforms during the Indusfood 2026 event in Greater Noida, organized by the Trade Promotion Council of India (TPCI). Despite global trade uncertainties, India's agricultural exports are on track for record growth, with a 7% increase to $18.6 billion from April to November 2025-26, and expectations to surpass $30 billion this fiscal year. TPCI Chairman Mohit Singla highlighted the participation of over 2,200 exhibitors and 15,000 buyers from more than 120 countries at the three-day food and beverages show, emphasizing the integration of the entire food value chain.
Published: Jan 08 2026, 3 pmeznews.inIndia dominates the global castor oil market, fulfilling over 90% of worldwide demand, according to the Solvent Extractors’ Association of India (SEA). The SEA will host the 24th SEA-Global Castor Conference in Gandhinagar, Gujarat, on February 27-28, 2026, bringing together around 400 delegates, including policymakers, industry leaders, and researchers. The conference aims to address challenges within the castor industry, focusing on yield enhancement and short cycle varieties, while facilitating discussions among manufacturers, importers, exporters, and farmers. With India's castor oil exports valued at approximately ₹15,000 crore ($1.8 billion) annually, the event will serve as a platform for fostering collaborations and exploring new business opportunities. SEA Executive Director BV Mehta emphasized the importance of the conference for building relationships and finding solutions to the industry's pressing issues, as the global castor derivatives market, valued at over $6 billion, remains heavily reliant on Indian production.
Published: Jan 08 2026, 4 pmeznews.inScoot, the budget airline under Singapore Airlines, has unveiled its 'January Thematic Sale,' running from January 7 to 12, 2026, featuring enticing one-way economy class fares from India to Singapore starting at ₹5,900. The promotional fares, available for travel between January 28 and October 24, 2026, include connections to popular Asia-Pacific destinations such as Bangkok, Bali, and Sydney. The sale offers exceptional value for travellers from cities like Amritsar, Chennai, and Thiruvananthapuram. Notable fares include Chennai to Singapore at ₹5,900, Tiruchirappalli to Chiang Rai at ₹11,900, and Thiruvananthapuram to Melbourne at ₹14,900. Other highlighted routes include Visakhapatnam to Bali for ₹9,000, Amritsar to Hong Kong for ₹12,000, and Coimbatore to Bangkok for ₹8,900, according to the airline's announcement.
Published: Jan 08 2026, 12 pmeznews.inAir India, now owned by Tata Group, has received its first Boeing 787-9 aircraft, marking a significant milestone since the airline's privatisation nearly four years ago. This Dreamliner, custom-made for Air India, was officially transferred at Boeing's Everett factory in Seattle on January 7, following inspections by the Directorate General of Civil Aviation (DGCA). The aircraft, featuring a three-class configuration of economy, premium economy, and business class, is expected to arrive in India shortly. It is the first line fit Dreamliner acquired by Air India since Tata's takeover in January 2022, with the last such delivery occurring in October 2017 under government ownership. This delivery is part of a larger order of 220 Boeing jets, with Air India already having received 51 narrow-body Boeing 737-8s through its subsidiary, Air India Express. The airline aims to enhance its fleet further, with plans to induct 26 additional aircraft by the end of 2026.
Published: Jan 08 2026, 2 pmeznews.inThe auto component sector is poised for growth, driven by a robust order pipeline and a resurgence in demand for passenger vehicles, two-wheelers, and three-wheelers following a recent GST cut, according to a report by Centrum. This uptick in vehicle sales is expected to alleviate cost pressures and bolster consumer demand, particularly benefiting the bearings sector, which is crucial for vehicle efficiency and durability. The report highlights that sustained export momentum will further enhance revenue growth and capacity utilization, even as domestic demand stabilizes. Companies are also diversifying into non-auto sectors such as railways and wind energy, which may reduce reliance on cyclical auto demand and improve earnings stability. Overall, the combination of demand recovery, strong exports, localization efforts, and diversification strategies positions the auto component and bearing sector for a promising outlook in the near future.
Published: Jan 08 2026, 2 pmeznews.inThe Federation of Retailer Association of India (FRAI) has raised alarms over a significant tax hike on legal tobacco products, following the Finance Ministry's recent notification imposing an excise duty of ₹2,050-8,500 per 1,000 sticks, effective February 1, 2026. The association, representing around 8 million micro, small, and medium retailers, argues that such steep increases threaten the livelihoods of small retailers and could drive consumers towards illegal markets. FRAI Joint Secretary Gulab Chand Khoda emphasized that the price surge would diminish demand at local shops, exacerbating the challenges faced by shopkeepers caught between declining sales and competition from unregulated suppliers. The FRAI has called for a reconsideration of the tax structure, advocating for a balanced approach that supports public policy objectives while ensuring price stability and protecting the informal retail sector.
Published: Jan 08 2026, 2 pmeznews.inIndia's cashew industry is facing significant challenges as raw material costs have surged by 20-25% in rupee terms, while domestic selling prices remain stagnant. This disparity has led many processors and traders to incur losses, forcing them to sell below cost to maintain cash flow and manage inventory. The depreciation of the rupee has temporarily benefited exporters but has made imports, primarily from West Africa, increasingly expensive for processors reliant on foreign raw cashew nuts. Additionally, illegal imports of low-quality cashew kernels, misdeclared to evade import duties, are further undermining local producers. Despite a rise in export values and increased processing capacity due to mechanisation, domestic demand remains weak, particularly post-Diwali. Industry leaders anticipate a potential uptick in demand with the upcoming wedding season, but the long-term sustainability of many new entrants in the sector remains uncertain.
Published: Jan 08 2026, 12 pm
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