eznews.inIndia and the European Union (EU) are intensifying efforts to finalize their Free Trade Agreement (FTA) negotiations ahead of a visit by EU leaders on January 25-27, 2026. This comes as the EU has suspended import tariff preferences under the Generalized System of Preferences (GSP) for approximately 87% of Indian exports, effective January 1, 2026. The suspension affects a wide range of products, including textiles, chemicals, and machinery, forcing Indian exporters to face full Most Favored Nation (MFN) tariffs. Experts warn that this will significantly impact India's trade competitiveness, particularly against countries like Bangladesh and Vietnam, which still enjoy lower-duty access. While some sectors, such as agriculture and handicrafts, retain GSP benefits, they account for less than 13% of India's exports to the EU. The urgency for a swift FTA deal is underscored by the ongoing challenges posed by US tariffs and the need to bolster bilateral trade, which reached $140 billion in 2024. 
Published: Jan 22 2026, 10 pmeznews.inChennai Metro Asset Management Limited (CMAML), a joint venture between Chennai Metro Rail Limited and TIDCO, is set to prepare a Detailed Feasibility Report for a High-Altitude Cable Propelled (Ropeway) Transport System in Udhagamandalam. This initiative aims to enhance transit infrastructure in high-altitude areas while promoting sustainable mobility solutions in ecologically sensitive and tourism-focused regions. The proposed ropeway system is expected to provide safe, efficient, and environmentally friendly transport options, thereby boosting tourism and improving accessibility. CMAML has engaged Infrastructure Development Corporation Limited, Bengaluru, and Outdoor Engineers AG from Switzerland as consultants for this project, with a contract value of ₹96,63,011. The development is anticipated to significantly contribute to the region's transportation landscape and tourism growth.
Published: Jan 22 2026, 10 pmeznews.inAgriculture Minister Shivraj Singh Chauhan announced on Thursday in Bengaluru that the Ministry has approved the procurement of 1.013 lakh tonnes of chana (bengal gram) at a minimum support price (MSP) for the 2026-27 rabi marketing season in Karnataka, valued at ₹595.37 crore. The MSP for chana has been set at ₹5,875. Chauhan urged the state government to ensure full procurement, criticizing the Congress-led administration for failing to meet procurement targets for tur (red gram) and totapuri mangoes in previous seasons. He highlighted that Karnataka procured only 2.16 lakh tonnes of the approved 3 lakh tonnes of tur and 1.37 lakh tonnes of mangoes out of 2.5 lakh tonnes. Additionally, he addressed misinformation regarding the new VB G RAM G scheme, which aims to enhance rural employment by guaranteeing 125 days of work linked to productive asset creation. Meanwhile, the area under Bengal gram cultivation has risen by 5% this rabi season.
Published: Jan 22 2026, 9 pmeznews.inFinance Minister Nirmala Sitharaman is set to present the Budget for 2026-27 on February 1, amid calls from exporters for measures to enhance shipments in light of rising US tariffs. The Federation of Indian Export Organisations (FIEO) has urged the government to address the issue of inverted customs duty structures, where import duties on raw materials exceed those on finished goods, negatively impacting sectors like textiles and electronics. For example, higher duties on synthetic yarns compared to finished garments hinder the textile value chain. The Apparel Export Promotion Council (AEPC) has suggested reducing GST rates on textile machinery and introducing a technology upgradation scheme for micro units. Additionally, the Engineering Export Promotion Council (EEPC) India has advocated for lower income tax rates to align with private companies and faster GST refunds to enhance liquidity and competitiveness, alongside a proposal for 100% depreciation on rooftop solar investments for manufacturing MSMEs.
Published: Jan 22 2026, 9 pmeznews.inTVS Industrial & Logistics Parks (TVS ILP) has marked the commencement of its Grade A built-to-suit industrial and logistics park in Indore, Madhya Pradesh, with a Bhoomi Puja ceremony. The ₹250 crore project, spanning 20 acres, is set to begin operations by August 2026 and aims to address the rising demand for high-quality warehousing and industrial infrastructure in the region. Located in the Pithampur Sector 7 industrial belt, the park is strategically positioned to provide efficient access to key industrial and consumption corridors across central India. It is expected to generate over 1,000 jobs for the local community. Ramnath Subramaniam, Joint Managing Director of TVS ILP, emphasized the facility's focus on sectors such as e-commerce, automobiles, and textiles, highlighting its importance in meeting the needs of Madhya Pradesh and neighboring states like Maharashtra, Gujarat, and Rajasthan.
Published: Jan 22 2026, 8 pmeznews.inTiruchi, Tamil Nadu, has seen the Cauvery riverbed largely exposed at the Mukkombu dam due to halted water flow, revealing sandbanks and significantly reduced downstream water levels. As of January 22, 2026, India's major reservoirs are experiencing a decline in storage, now at 71.23% of their total capacity of 183.565 billion cubic metres (BCM). The Central Water Commission reported a drop to 130.753 BCM, although 155 reservoirs remain above 80% of normal levels, reflecting a 7 percentage point increase from last year. The India Meteorological Department (IMD) noted that 91% of districts have received deficient rainfall, with only 1.9 mm recorded against a normal of 10.6 mm since the year's start. While the western region's reservoirs are relatively full, the southern region, including Tamil Nadu, is below last year's levels, with predictions of upcoming rainfall unlikely to significantly improve storage.
Published: Jan 22 2026, 8 pmeznews.inUnion Finance Minister Nirmala Sitharaman met with a delegation of FCV (flue cured Virginia) tobacco farmers in New Delhi on January 22, 2026, to address their concerns regarding a recent tax hike on legal cigarettes. Farmers expressed fears that the increased tax could harm the regulated FCV tobacco ecosystem and threaten their livelihoods, potentially leading to reduced domestic consumption and a rise in unsold stock. Sitharaman assured the delegation that the government would review their concerns and adopt a revenue-neutral approach, emphasizing that it does not aim to generate additional revenue from the tobacco sector. The delegation, which included representatives from Andhra Pradesh, Telangana, and Karnataka, warned that diminished buyer participation in auctions could severely impact prices and the overall value chain. They cited examples from South Africa, where tax increases led to a surge in illicit trade, further complicating the market for legal tobacco products.
Published: Jan 22 2026, 8 pmeznews.inViyash Scientific Limited, formerly known as SeQuent Scientific Limited, has officially rebranded following its merger with Viyash Life Sciences Private Limited, effective January 8, 2026. The company, which employs over 3,000 people, specializes in formulations and Active Pharmaceutical Ingredients for both human and veterinary use, serving over 100 countries. Its subsidiary, Alivira Animal Health Limited, has entered a partnership with Boehringer Ingelheim India to distribute companion animal products, aiming to tap into India's burgeoning pet healthcare market. This collaboration is driven by increasing pet ownership and a growing emphasis on animal well-being. Dr. Haribabu Bodepudi, Managing Director of Viyash Scientific, highlighted the partnership's goal of enhancing access to quality pet healthcare solutions across urban and rural India. Boehringer Ingelheim's Country Head, Dr. Vinod Gopal, noted that this alliance aligns with their long-term growth strategy in the animal health sector.
Published: Jan 22 2026, 8 pmeznews.inThe Delhi High Court has been informed by the Union of India that decisive actions are underway following an inquiry into the recent IndiGo crisis, which resulted in widespread flight cancellations and passenger disruptions. During a hearing regarding a plea for an independent judicial probe, the court learned that a Senior Vice President of IndiGo is set to be dismissed, and the airline has been fined ₹22 crore, with a ₹50 crore bank guarantee secured for compliance with corrective measures. Warnings have also been issued to several senior officials for identified lapses. IndiGo's counsel stated that refunds for cancelled tickets are being processed, and a compensation mechanism for stranded passengers is being finalised. The court has mandated IndiGo to submit detailed records of refunds and assistance within two weeks, while also addressing concerns over fare surges and safety issues during the crisis. The next hearing is scheduled for February 25.
Published: Jan 22 2026, 7 pmeznews.inThe Kerala Cooperative Milk Marketing Federation, known as Milma, has signed a Memorandum of Understanding (MoU) with Food Links Food and Beverage Solutions to export its premium dairy products to four Gulf Cooperation Council (GCC) countries: Saudi Arabia, UAE, Bahrain, and Oman. The agreement, signed by Milma Managing Director Asif K Yusuf and Food Links partner Muhammad Shibu, mandates the monthly purchase of 20 tonnes of ghee, alongside other products valued at a minimum of Rs five lakh for each country. Milma Chairman K S Mani emphasized that this initiative aims to bolster the brand's overseas presence and enhance its market value. The products will be supplied from Milma’s Central Products Unit in Alappuzha, while Food Links will manage logistics, customs, and legal requirements. The MoU is initially valid for one year, with potential for extension based on performance reviews.
Published: Jan 22 2026, 6 pm
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