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Union Food Processing Industries Minister Chirag Paswan urged dairy industry leaders to comply with quality regulations during the inauguration of the 52nd Dairy Industry Conference, organized by the Indian Dairy Association (North Zone). He emphasized that non-compliance not only jeopardizes market access but also enables fraudulent practices that harm honest businesses. Paswan highlighted India's potential to become a global dairy powerhouse, capable of addressing international shortages through improved organization and strategic marketing. He called for collective efforts to elevate product quality to international standards, assuring government support in policy formulation and addressing GST issues. Minister of State for Fisheries, Animal Husbandry and Dairying, S P Singh Baghel, noted a significant increase in milk production, reaching 247.87 million tonnes for 2024-25. IDA president Sudhir Kumar Singh reassured attendees that the recent Interim Trade Agreement with the US poses no threat to India's dairy sector, ensuring the protection of local farmers. 
Published: Feb 12 2026, 9 pmeznews.inIndia's Defence Acquisition Council (DAC) has advanced a monumental ₹3.25 lakh crore deal to acquire 114 Rafale fighter jets from France's Dassault Aviation, marking the country's largest defence purchase to date. This government-to-government agreement, which coincides with French President Emmanuel Macron's upcoming visit to India, will see most of the multi-role fighter aircraft manufactured locally. The DAC, led by Defence Minister Rajnath Singh, also approved additional proposals worth ₹3.60 lakh crore, including the procurement of Scalp combat cruise missiles to enhance the Rafale fleet's capabilities. Following the DAC's acceptance of the Indian Air Force's proposal, the project will enter contract negotiations, with a request for proposal (RFP) to be issued soon. The IAF currently operates 36 Rafales, and if the deal is finalized, it will become the second-largest operator of the aircraft after France. The DAC also approved the purchase of six P8I maritime reconnaissance aircraft from the US and other initiatives to bolster naval capabilities.
Published: Feb 12 2026, 10 pmeznews.inRetail inflation in India, as measured by the revised Consumer Price Index (CPI) series with a new base year of 2024, stood at 2.75% in January, according to the Statistics Ministry. This marks the first reading under the updated series, which aims to better reflect contemporary household spending patterns. Officials noted that this figure is not directly comparable to December's 1.33% inflation rate based on the 2012 series. Chief Economic Advisor V Anantha Nageswaran emphasized that the overhaul enhances the data foundation for policy decisions, aligning the CPI basket with recent expenditure trends. In January, food inflation was recorded at 2.13%, while housing inflation was at 2.05%. Price pressures varied across categories, with some items like garlic and onion experiencing low inflation, while others, including gold and coconut oil, saw significant increases. Nageswaran highlighted that the reweighting reflects structural changes in consumption as incomes rise, potentially stabilizing fiscal policies linked to the index.
Published: Feb 12 2026, 10 pmeznews.inRetail inflation data released by the National Statistical Office (NSO) for January 2026 reveals significant disparities in jewellery inflation, with silver jewellery soaring by approximately 160%, while gold, diamond, and platinum jewellery saw a more modest increase of around 47%. This marks silver's debut as an independent weight category in the inflation metrics. The overall retail inflation, based on the new Consumer Price Index (CPI) series for 2024, was reported at 2.75%, slightly higher than the 2.55% calculated using the previous series. Core inflation, excluding food and fuel, stood at 3.4%, reflecting rising prices in metal and personal care items. Economists anticipate a gradual increase in inflation in the coming months, although it is expected to remain within the Reserve Bank of India's target range. Analysts suggest that the new inflation series is unlikely to significantly influence monetary policy decisions in the near term.
Published: Feb 12 2026, 9 pmeznews.inAir India, owned by Tata Group, is projecting revenues between ₹75,000-80,000 crore for the fiscal year 2026-27, as it prepares for a crucial board meeting on February 13, 2026, to discuss a budget of approximately ₹88,000 crore. The airline is expected to unveil a new strategy aimed at achieving profitability, potentially moving away from its previous "Road to Profitability" plan. Sources indicate that Tata Sons may bridge an anticipated revenue shortfall of ₹8,000-10,000 crore. The airline has faced significant challenges, including geopolitical tensions and airspace closures, notably from Pakistan and Iran, which have increased operational costs. To address these issues, the board will consider cost-cutting measures, including hiring freezes and vendor contract reviews, while also discussing emergency hiring in critical areas to support future capacity growth.
Published: Feb 12 2026, 9 pmeznews.inThe Reserve Bank of India (RBI) has proposed significant changes to the Kisan Credit Card (KCC) scheme aimed at enhancing credit support for marginal farmers, defined as those with landholdings of up to one hectare. Under the new framework, these farmers will be eligible for flexible credit limits ranging from ₹10,000 to ₹50,000, determined by their land and crop types. The KCC will cover various expenses, including post-harvest costs, maintenance of farm assets, and insurance. Additionally, banks will accept local administrative certificates for loans to sharecroppers and oral lessees, with affidavits permitted in cases where certification is challenging. The updated KCC will facilitate easy access to funds through multiple digital payment channels, including UPI and mobile banking, ensuring timely financial assistance for agricultural activities. These measures are designed to streamline credit access and support the agricultural sector's financial needs.
Published: Feb 12 2026, 9 pmeznews.inBengaluru-based Shadowfax Technologies Ltd has reported a remarkable third quarter for FY26, delivering 20.6 crore orders across express parcel and hyperlocal services, marking a 61% year-on-year increase and a 28.7% rise quarter-on-quarter. The company achieved a net profit of ₹35 crore, a staggering 440.6% increase from the previous year, while revenue surged 65.5% to ₹1,160 crore. Shadowfax's EBITDA rose to ₹66 crore, with a margin improvement to 5.7%. For the nine months of FY26, revenue reached ₹2,965 crore, up 67.3% year-on-year, and the company delivered 50 crore orders. Shadowfax expanded its network to 15,166 pin codes and invested ₹140 crore in infrastructure and technology. The company’s shares closed at ₹124.50, reflecting a 4.62% increase, as it celebrated its highest-ever quarterly revenue and significant market share gains.
Published: Feb 12 2026, 9 pmeznews.inIndia is facing significant rainfall deficits, with the India Meteorological Department (IMD) reporting a 45% shortfall from January 1 to February 11, affecting 76% of the country's 727 districts. As a result, storage levels in the nation's 166 major reservoirs have fallen to 64% of capacity, totaling 118.14 billion cubic metres (BCM), although this is still over 10% higher than last year and 25% above the 10-year average. While four reservoirs are full and 28% exceed 80% capacity, 30 reservoirs are below 50%. The southern region is particularly affected, with storage at 56.63%, down from 57.21% last year, and Telangana's reservoirs below 45%. The IMD has forecasted no rain for the next two weeks, raising concerns that reservoir levels may decline further, particularly in regions like Assam, where storage is critically low at just 26%.
Published: Feb 12 2026, 8 pmeznews.inUnion Minister of Commerce and Industry Piyush Goyal announced that Indian textile exporters will enjoy the same zero reciprocal tariff benefits in the US market as their Bangladeshi counterparts, contingent on sourcing raw materials from the US. This decision has been welcomed by garment manufacturers concerned about competition following Bangladesh's recent duty-free deal with the US. However, Indian farmers have expressed apprehension over a potential influx of American cotton, fearing it could adversely affect local production. Goyal reassured that the sourcing requirement in the US-Bangladesh agreement would also apply to India, and emphasized that the US's limited cotton production would mitigate risks for Indian farmers. Trade expert Abhijit Das noted the stark contrast in cotton production between India and Bangladesh, while farmers' leaders called for greater transparency in negotiations, warning that the deal could jeopardize their livelihoods. The US currently imposes reciprocal tariffs of 18% on Indian goods, compared to 19% on Bangladeshi products.
Published: Feb 12 2026, 8 pmeznews.inThe Ministry of External Affairs (MEA) clarified on Thursday that recent amendments to a US fact sheet regarding the India-US interim trade framework now align with the mutual understanding established in their original joint statement from February 7. MEA Spokesperson Randhir Jaiswal highlighted that this joint statement serves as the definitive basis for their agreement, following a diplomatic recalibration after the US issued a fact sheet on February 9 that appeared to exceed the agreed terms. The White House later revised the document, removing references to Indian imports of pulses, softening the language on digital trade commitments, and altering the definitive "will" to "intended" concerning India's $500-billion import obligation. Jaiswal reaffirmed that both nations will work towards implementing the framework and finalising the interim agreement, with the amendments reflecting their shared understandings.
Published: Feb 12 2026, 8 pm
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