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China has resumed issuing rare earth export licenses to Indian companies, albeit at a slow pace, with over 50 applications still pending with the Chinese Commerce Ministry. Following the imposition of strict export restrictions in April, which required exporters to obtain end-user certificates, only a few entities, including suppliers for major automotive brands like M&M and Maruti Suzuki, have recently received approvals. Earlier licenses were granted to companies such as Jay Ushin Ltd and Bosch. Despite meeting all necessary conditions, Indian importers have faced delays in obtaining licenses, attributed to a backlog of applications from various countries. However, improved diplomatic relations between India and China may signal a potential easing of these restrictions, according to sources. The rare earth magnets are crucial for India's automobile, electronics, and defense sectors, highlighting the ongoing dependency on Chinese supplies. 
Published: Dec 24 2025, 8 pmeznews.inThe Cotton Corporation of India (CCI) has procured approximately 50 lakh bales of cotton at the minimum support price (MSP) during the 2025-26 season, marking a 60% increase from the 31 lakh bales purchased by mid-December last year. CCI Chairman Lalit Kumar Gupta reported that daily procurement has surpassed 2 lakh bales, with total purchases reaching 230.23 lakh quintals valued at ₹18,238 crore. Major contributions came from Telangana and Maharashtra, with Telangana alone accounting for 93.87 lakh quintals valued at ₹7,445 crore. CCI's intervention has stabilized cotton prices, which have risen from ₹7,200-7,300 to around ₹7,800 per quintal in private trade. However, prices remain below the announced MSP of ₹7,710 for medium staple and ₹8,110 for long staple cotton. Adverse weather conditions have reduced the projected cotton crop for the season to 292.15 lakh bales, down from 297.24 lakh bales last year.
Published: Dec 24 2025, 9 pmeznews.inAir India, under the Tata Group, plans to enhance its fleet by operating nearly 60 wide-body aircraft, with a goal of having over 55% of this fleet comprised of new or retrofitted models by the end of 2026. The airline is set to introduce six new wide-body aircraft, including Boeing 787-9 and Airbus A350-1000 models, with the first Boeing 787-9 expected to join in January 2026. Additionally, Air India aims to retrofit at least 12 Boeing 787 aircraft, improving onboard experiences with new seating, upgraded entertainment systems, and Wi-Fi connectivity. Currently, the airline operates six upgraded Boeing 777s, six Airbus A350s, and six Boeing 787-9s, while also returning older leased jets, keeping the overall fleet size stable. By mid-2027, Air India plans to complete the retrofit of its 26 Boeing 787-8 aircraft, ensuring a modernized experience for passengers across its domestic and international routes.
Published: Dec 24 2025, 7 pmeznews.inEgg prices in major Indian cities have surged dramatically, with the monthly index surpassing ₹700 per 100 eggs, driven by supply shortages and increased seasonal demand, particularly in colder regions. In New Delhi, consumers are paying up to ₹10 per egg, while prices in Hyderabad and Chennai hover around ₹8 and ₹7.50, respectively. The National Egg Coordination Committee (NECC) reports that farm gate prices have risen sharply since August, with production plummeting due to adverse weather affecting feed supplies. Despite the high retail prices, farmers receive less than ₹6.50 per egg. The surge is exacerbated by rising export demands, particularly from the US and Gulf countries, as well as increased domestic consumption during winter and festivals. Experts predict that while prices may stabilize in January, they are expected to remain elevated until March due to ongoing production challenges.
Published: Dec 24 2025, 8 pmeznews.inA new raisin research centre is set to be established in Sangli, Maharashtra, aimed at bolstering the region's grape and raisin industry. Approved by the Senate of Shivaji University, the initiative responds to calls from local MLA Sudhir Gadgil, highlighting the need for specialized support in a state that lacks such facilities despite being a leading producer. The centre will focus on scientific research, skill development, and quality improvement to help local growers and processors compete against rising export competition and imported raisins, particularly from China. With Sangli's high-quality raisins facing increasing market pressures, the establishment of this centre is seen as crucial for enhancing productivity and global competitiveness. Initially, the centre will operate from a temporary location before moving to a permanent site, with staff appointments planned for the future.
Published: Dec 24 2025, 8 pmeznews.inThe Indian government is actively promoting the entry of new airline operators to enhance competition in its rapidly expanding domestic aviation market, currently dominated by IndiGo and the Air India Group, which together hold over 90% market share. Two new airlines, Al Hind Air and FlyExpress, have recently received no objection certificates (NOCs) from the civil aviation ministry, with operations expected to commence soon. Additionally, Uttar Pradesh-based Shankh Air, which already has an NOC, is anticipated to begin flights in 2026. Civil Aviation Minister K Rammohan Naidu emphasized the ministry's commitment to fostering a diverse airline landscape, citing initiatives like the UDAN scheme that have supported regional connectivity. Currently, nine scheduled domestic carriers operate in India, although the market has seen disruptions, notably at IndiGo, which commands over 65% of the market. The landscape has also been affected by the exit of airlines like Go First and Jet Airways due to financial difficulties.
Published: Dec 24 2025, 8 pmeznews.inAs India accelerates its transition to clean energy, the consumption growth of diesel and petrol is slowing, with a mere 1.4% increase year-on-year in the first eight months of FY26, compared to a historical average of 4%. Prashant Vasisht, Vice President and Co-Group Head of Corporate Ratings at ICRA, highlights that this trend is driven by the rise of fuel-efficient vehicles, an expanding CNG network, and electric mobility. Despite the slowdown, India's dependence on imported crude has surged to 91%, exacerbated by declining domestic production. Gas consumption has also seen a 4.5% decline due to reduced demand from the power sector and fertilizer plant shutdowns. However, lower crude prices have improved marketing margins for oil marketing companies (OMCs), and a ₹30,000-crore compensation package was introduced to mitigate LPG under-recoveries. Looking ahead, crude prices are expected to stabilize between $60 and $70 per barrel, with modest growth in petroleum consumption anticipated.
Published: Dec 24 2025, 7 pmeznews.inIn Srinagar, artisan Ghulam Mohammad is busy crafting intricate papier-mâché Christmas decorations, including bells, destined for markets far beyond Kashmir. With the local Christian population at a mere 0.28%, the survival of this traditional craft relies heavily on global exports, particularly to Europe, which has seen a surge in demand. Despite challenges posed by increased tariffs in the US, which have dampened competitiveness, exports of Kashmir's handmade products rose significantly, reaching ₹309.62 crore in the first quarter of the financial year—up 243% from the previous year. Artisans like Mir Arshad prepare for Christmas orders as early as January, with many items, such as decorative stars and Santa figures, being exported to countries where the holiday is widely celebrated. The growing appreciation for Kashmir's handicrafts in Europe offers a seasonal boost, helping artisans sustain their centuries-old craft through the winter months.
Published: Dec 24 2025, 7 pmeznews.inAir India, under the Tata Group, aims to have over 55% of its wide-body fleet composed of new or retrofitted aircraft by the end of 2026, despite a flat overall fleet size due to the return of older leased jets. The airline plans to induct six new wide-body aircraft, including Boeing 787-9 and Airbus A350-1000 models, with the first Boeing 787-9 expected in January 2026. Additionally, Air India will retrofit at least 12 Boeing 787 aircraft, enhancing onboard experiences with new seats, upgraded entertainment systems, and Wi-Fi connectivity. Currently, the airline operates six upgraded Boeing 777s, six Airbus A350s, and six Boeing 787-9s, with a total of nearly 60 wide-body aircraft anticipated. The retrofit program is part of a broader transformation strategy, aiming for 100% upgraded interiors in its narrow-body fleet by the end of 2026, enhancing passenger experience across domestic and international routes.
Published: Dec 24 2025, 7 pmeznews.inThe Maharashtra government has pledged maximum compensation for farmers affected by the Purandar airport project, which is expected to boost Pune's GDP by at least 2% and enhance industrial growth. Chief Minister Devendra Fadnavis announced that the project will not only serve passenger flights but also function as a cargo airport, benefiting local trade, particularly for perishable goods. To support affected farmers, the government will provide Transferable Development Rights (TDR), alternative land, and priority employment for their children. Additionally, skill development centres will be established to equip local youth with industry-relevant training. Fadnavis emphasized that the project will prioritize proper rehabilitation and may offer compensation exceeding current land rates, determined through negotiations rather than standard assessments. This initiative marks a significant step in ensuring fair treatment for those impacted by the airport's development.
Published: Dec 24 2025, 6 pm
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