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The Indian Cabinet, led by Prime Minister Narendra Modi, has approved a substantial ₹37,952 crore subsidy for phosphorous and potassic fertilizers for the 2025-26 rabi season, marking an increase of approximately ₹14,000 crore from the previous year. Information and Broadcasting Minister Ashwani Vaishnaw announced that the subsidy rates have been set at ₹43.02 per kg for Nitrogen, ₹47.96 per kg for Phosphorous, ₹2.38 per kg for Potash, and ₹2.87 per kg for Sulphur. These rates, effective from October 1, are determined under the Nutrient Based Subsidy (NBS) Scheme, taking into account factors such as import prices and nutrient requirements. As rabi sowing begins across various regions, key crops such as wheat, mustard seed, and gram are expected to benefit from this financial support. 
Published: Oct 28 2025, 3 pmeznews.inAir India Express is enhancing its focus on leisure and small to medium-sized enterprises (SMEs) with the introduction of new comfortable seating and revamped menus, as announced by CEO Aloke Singh. The airline showcased its upgraded product on a retrofitted Boeing 737 Max, with plans to transform 49 additional aircraft into a 189-seat all-economy configuration by mid-2026. These changes follow a recent marketing campaign and network adjustments aimed at strengthening the airline's presence in Bengaluru, which is set to become a key hub alongside Delhi and Mumbai. Currently, these three cities account for 62% of the airline's domestic departures, a figure expected to rise to 74% by November. The winter schedule will also see the addition of four new destinations from Bengaluru: Bangkok, Jeddah, Kuwait, and Riyadh. Air India Express currently operates 110 aircraft and anticipates receiving 20-24 new Boeing 737 Max planes by 2026.
Published: Oct 28 2025, 6 pmeznews.inSwan Defence and Heavy Industries Ltd (SDHI), formerly Reliance Naval Engineering Ltd, has successfully emerged from the National Company Law Tribunal (NCLT) and refurbished the Pipavav Shipyard in Gujarat with an investment of approximately $250 million. Director Vivek Merchant announced that the shipyard, which spans 650 acres and holds nearly 30% of India's shipbuilding capacity, is now fully operational and certified by the Ministry of Defence. Following its acquisition in 2024, SDHI has initiated ship repair projects and is gearing up for commercial shipbuilding, targeting various vessels including container ships and bulkers. The company has established partnerships with Samsung Heavy Industries and Royal IHC for offshore projects and aims to participate in government shipbuilding programs. Notably, the shipyard boasts India's largest dry dock and a dedicated offshore yard for heavy engineering modules, positioning it as a key player in the maritime industry.
Published: Oct 28 2025, 7 pmeznews.inUnion Petroleum and Natural Gas Minister Hardeep Singh Puri has projected that India could become the second-largest oil refiner globally by 2035, as over 100 refineries are anticipated to close in the coming years. Speaking at the Energy Technology Meet, Puri noted that India's domestic energy consumption is rapidly increasing, with the International Energy Agency revising its forecast for India's contribution to global demand growth from 25% to 30% over the next two decades. He emphasized the country's expanding energy mix, which now includes biofuels, green hydrogen, and renewables, and highlighted India's position as a major exporter of refined petroleum products, valued at over $45 billion last year. With a current refining capacity of 258 million tonnes per year, India aims to reach 310 MMTPA by 2030, with ambitions extending to 450 MMTPA, contingent on effective policy frameworks and implementation.
Published: Oct 28 2025, 7 pmeznews.inThe American Spice Trade Association (ASTA) is advocating for a new trade deal between the US and India, as tariffs imposed by the Trump administration have severely impacted black pepper exports from India. Laura Shumnow, ASTA's Executive Director, highlighted that various sectors in the US, including food, pharmaceuticals, and auto parts, are struggling due to these tariffs, which have fluctuated rapidly, complicating long-term trade agreements. Currently, the tariff on black pepper stands at 50%, and Shumnow expressed hope for a reduction to 20% or even zero, similar to exemptions granted for spices in recent trade deals with Malaysia and Cambodia. With US imports of black pepper valued at approximately $500 million annually, of which $40 million comes from India, Shumnow noted that inventories are dwindling, making it increasingly challenging for traders to maintain stock levels.
Published: Oct 28 2025, 7 pmeznews.inExperts gathered in Kochi for the 53rd Annual Sessions of the International Pepper Community (IPC) and the International Spice Exhibition, calling for collaborative efforts to enhance global black pepper cultivation and consumption. Sangeetha Viswanathan, chairperson of the Spices Board, underscored India's crucial role in the spice trade, advocating for innovation, sustainability, and partnerships among producing nations to bolster the pepper economy. Marina Novira Anggraini, Executive Director of IPC, emphasized the event's significance in reimagining the future of spices through collaboration and resilience. During the sessions, awards were presented to outstanding pepper farmers from India, Indonesia, Malaysia, Sri Lanka, and Vietnam, as well as to companies excelling in value-added pepper products. The discussions highlighted the urgent need for equitable trade practices and regional cooperation as the spice sector adapts to global challenges, with India leading the charge in promoting sustainable practices and strengthening value chains.
Published: Oct 28 2025, 7 pmeznews.inZF India Pvt Ltd, a subsidiary of Germany's ZF Friedrichshafen AG, has unveiled its advanced railway dampers at the International Railway Equipment Exhibition (IREE) 2025, marking a significant enhancement of its footprint in India's rail sector. Designed for various applications including metro and high-speed trains, these dampers feature a maintenance-free twin-tube design that promises improved ride comfort and operational efficiency while minimizing downtime. Manufactured at ZF's Chakan plant in Pune, the dampers are validated to global standards, aligning with ZF's strategy of localization and innovation in India's expanding rail industry. Akash Passey, President of ZF Group in India, emphasized the importance of these locally produced solutions in supporting the modernization of the rail sector, while Karsten Hofmann, Head of Sales for Special Vehicle and Railway Chassis Components, highlighted the anticipated growth of the Indian rail market and ZF's commitment to delivering high-quality products tailored to local needs.
Published: Oct 28 2025, 6 pmeznews.inIndia's largest commodity derivatives exchange, MCX, faced a significant trading delay of nearly 4.5 hours on Tuesday due to a technical glitch linked to its newly implemented trading software from Tata Consultancy Services. Initially, the exchange planned to resume operations from its Disaster Recovery site at 9:30 a.m., but trading did not restart until 1:25 p.m. In response, MCX has launched an investigation to determine the cause of the disruption and prevent future occurrences. Mrugank Paranjpe, Chairperson of the IMC Task Force on Capital Markets, expressed concerns over the stability of the commodity market infrastructure, especially given that this was the second such incident in a short period. He urged the Securities and Exchange Board of India (SEBI) to enhance the resilience of market infrastructure. Following the incident, MCX shares fell by 2% to ₹9,117, after opening at ₹9,360.
Published: Oct 28 2025, 6 pmeznews.inRussian oil constitutes a mere 0.2% of India's total oil imports, according to a senior government official, amid ongoing discussions about reducing purchases from Russia. Despite US President Donald Trump's announcement that India has agreed to scale back its Russian oil imports, the official emphasized that the Indian government does not dictate the purchasing decisions of oil companies. "These decisions are taken at the company level," he stated, highlighting that firms assess economic viability and compliance with government regulations. He further noted that if companies engage with sanctioned entities, they may face payment issues. While acknowledging that trade negotiations are ongoing, the official refrained from predicting the impact of reduced Russian oil imports, stating that overall imports have risen to 30-35%. Petroleum Minister Hardeep Singh Puri remarked that alternatives exist should any supply decrease.
Published: Oct 28 2025, 6 pmeznews.inTata Advanced Systems, in collaboration with Safran Aircraft Engines, has inaugurated a new manufacturing facility at the Tata Centre of Excellence for Aero Engines in Adibatla, Hyderabad. This facility will focus on producing complex rotating parts for the CFM LEAP engine, a key player in the aerospace sector known for its 15% improved fuel efficiency and reduced noise levels compared to previous models. The partnership, formalized in January 2024, aims to enhance India's manufacturing capabilities in advanced aerospace technology. Sukaran Singh, CEO of Tata Advanced Systems, emphasized the significance of this facility in supporting global aerospace programs, while Dominique Dupuy of Safran highlighted the milestone in their partnership. With India being the third-largest operator of LEAP engines, housing 75% of its commercial aircraft with CFM technology, the establishment of this facility is crucial for bolstering local manufacturing and support capabilities.
Published: Oct 28 2025, 6 pmeznews.inIndia's industrial production saw a notable increase of 4% in September 2025, driven primarily by a robust manufacturing sector, according to data from the National Statistics Office (NSO). This marks an improvement from the 3.2% growth recorded in September 2024. The NSO also revised August 2025's industrial growth to 4.1%, up from an initial estimate of 4%. In September, manufacturing output rose by 4.8%, compared to 4% in the same month last year. However, mining production faced a decline of 0.4%, contrasting with a slight growth of 0.2% a year prior. Power production, on the other hand, increased by 3.1%, up from 0.5% in September 2024. For the first half of FY26, industrial production grew by 3%, a decrease from the 4.1% growth seen in the same period of the previous fiscal year.
Published: Oct 28 2025, 5 pm
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