eznews.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 pmeznews.inIndia's two-wheeler exports surged by 24% year-on-year during April-November 2025, driven by robust demand from markets in Latin America and Africa. According to data from the Society of Indian Automobile Manufacturers (SIAM), the country exported 4,243,330 units, up from 3,393,441 units in the same period last year. Motorcycles dominated the exports, accounting for 87%, while scooters made up nearly 13%. Motorcycle exports rose by 27%, with scooters seeing an 8% increase. Bajaj Auto maintained its leadership with a 35% market share, although this was a slight decline from 38% the previous year. TVS Motor improved its share to 27%, while Hero MotoCorp reported strong sales, particularly for models like the Hunk series, and expanded its presence in Latin America and Europe. Overall, the export momentum reflects a positive trend for Indian manufacturers, bolstered by strong performances from Hero, Bajaj, and TVS, according to Axis Securities.
Published: Dec 24 2025, 6 pmeznews.inThe Insolvency and Bankruptcy Board of India (IBBI) has introduced a new regulation mandating the disclosure of beneficial ownership in resolution plans, aimed at enhancing transparency and preventing opaque bids. Effective from December 23, the regulation requires resolution applicants to provide detailed statements about the natural persons who ultimately own or control them, including their shareholding structure and jurisdiction of any intermediate entities. Additionally, applicants must submit an affidavit confirming their eligibility under Section 32A of the Insolvency and Bankruptcy Code, which addresses liability for prior offences. This move follows a Supreme Court ruling last year that called for reforms after the Jalan-Kalrock Consortium's failure to implement a resolution plan for Jet Airways. Legal experts believe these amendments will improve scrutiny of applicants, ensuring that only legitimate entities participate in the resolution process, thereby safeguarding creditors' interests and reducing potential disputes.
Published: Dec 24 2025, 6 pmeznews.inIn 2025, India's oil and gas sector demonstrated resilience amid geopolitical challenges, including escalating conflicts in West Asia and sanctions imposed by the US and EU on Russian oil giants Rosneft and Lukoil. Despite these pressures, Indian refiners successfully navigated the shifting landscape by diversifying their energy sources, enhancing trade ties with the UAE, Saudi Arabia, and Oman, and increasing purchases from the US and African suppliers. A government official noted that while geopolitical tensions recalibrated energy flows, refiners ensured the availability of fuel at reasonable prices for consumers. Analysts highlighted that sanctions have made Russian oil cheaper, allowing India to import significant volumes, although reliance on Russian crude is expected to decline. The shift towards a broader supplier base, including countries like Argentina and Brazil, aims to bolster energy security and maintain price competitiveness, as India aspires to expand its refining capacity to 400 million tonnes per annum.
Published: Dec 24 2025, 6 pmeznews.inIndia's bilateral merchandise trade with New Zealand is projected to reach $1.3 billion in FY25, with experts highlighting the need for targeted export promotion, regulatory cooperation, and logistics support to maximize the benefits of the newly announced free trade agreement (FTA). According to the Global Trade and Research Initiative, India has significant potential to boost exports in sectors such as processed foods, pharmaceuticals, machinery, and electronics, where it is currently under-represented. In FY2025, New Zealand imported only $711 million from India, a mere fraction of its total imports, compared to over $10 billion from China. Ajay Srivastava, a trade expert, emphasized that diversifying imports could enhance supply-chain resilience for New Zealand. The FTA, which offers zero-duty access to Indian goods, is set for legal vetting before being presented to the New Zealand Parliament for approval, with expectations of substantial trade growth post-implementation.
Published: Dec 24 2025, 5 pmeznews.inA report titled "State of Marginal Farmers in India 2025," released by the Forum of Enterprises for Equitable Development (FEED) on Kisan Diwas, highlights the precarious position of marginal farmers, who constitute 60-70% of India's agricultural households. Despite their significant numbers, these farmers face vulnerabilities due to limited participation in cooperatives—less than 25% are active members—leading to reliance on informal markets and exposure to climate and market shocks. The report advocates for modernising governance and enhancing cooperative structures to foster inclusivity. It notes that primary agricultural credit societies (PACS) are evolving into rural service hubs, improving income and crop yields for linked farmers. However, digital adoption remains low, particularly in Bihar and Tripura, with many cooperatives lacking digital tools. Gender disparities persist, as women hold only a fraction of leadership roles within cooperatives, despite their substantial membership.
Published: Dec 24 2025, 5 pmeznews.inThe Union Cabinet has approved a new phase of metro connectivity in Delhi, with an investment exceeding ₹12,000 crore aimed at enhancing public transport access in the capital. This initiative will introduce three new corridors, adding over 16 kilometers to the existing network, which will now surpass 400 kilometers. Prime Minister Narendra Modi highlighted that the project will benefit around 60,000 office-goers and 200,000 daily visitors, significantly reducing congestion, fossil fuel consumption, and pollution. The corridors include R.K. Ashram Marg to Indraprastha, Aerocity to IGD Airport T-1, and Tughlakabad to Kalindi Kunj, with funding shared between the Central and Delhi governments and a portion financed through loans. Meanwhile, construction of the ongoing Phase IV, covering 111 kilometers, is progressing, with completion expected by December 2026. Currently, the Delhi Metro serves an average of 6.5 million passengers daily, making it one of the largest metro systems globally.
Published: Dec 24 2025, 5 pm
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