eznews.inBikash Prasad, Group CFO of UPL, has highlighted that the recent reduction in US reciprocal tariffs is set to enhance the competitiveness of Indian agrochemical firms against their Chinese counterparts. With India's effective duty now at 18%, compared to China's 45%, UPL anticipates a positive impact in the fourth quarter and beyond, potentially widening the duty differential to 27%. In a recent earnings report, UPL posted a consolidated net profit of Rs 490 crore for the December quarter, driven by operational improvements rather than one-off gains. Prasad noted that pricing in agrochemicals remains stable, with growth primarily from volume increases. Additionally, UPL's subsidiary, Advanta Enterprises, has filed for an IPO, which will be an offer-for-sale with proceeds aimed at strengthening UPL's balance sheet. Looking ahead, Prasad expects strong performance in Q4, bolstered by deferred US sales and seasonal demand in Brazil, while maintaining full-year guidance amid geopolitical uncertainties. 
Published: Feb 03 2026, 6 pmeznews.inThe Automotive Component Manufacturers Association (ACMA) of India has welcomed the proposed reduction of reciprocal tariffs to 18%, which is expected to boost the competitiveness of Indian auto components in the US market. ACMA President Vikrampati Singhania emphasized that this move enhances predictability for long-term trade and investment amid global supply chain shifts. In fiscal year 2024-25, India exported $6.2 billion in auto components to the US, with $3.1 billion already recorded in the first half of FY26. The US, in turn, exported $3.1 billion to India in FY25, dropping to $844 million in H1 FY26. Industry leaders, including Ravi Mehra of Uno Minda and Baba Kalyani of Bharat Forge, highlighted the agreement as a pivotal moment for India's economy, fostering deeper market access, advanced technology collaboration, and reinforcing India's role as a trusted partner in the global automotive supply chain.
Published: Feb 03 2026, 6 pmeznews.inAs of January 31, India's sugar stock has fallen by 11% to 74.49 lakh tonnes compared to 84.61 lakh tonnes a year earlier, despite a 17% increase in production and a 4% decrease in consumption during the current sugar season. Industry experts warn that sugar mills may need to explore alternative revenue streams, as cash flow from both sugar and ethanol is unlikely to improve. Uttar Pradesh has seen a significant reduction in sugarcane crushing, with a 3% drop in sugar output reported in January. The government has not raised the minimum selling price of sugar or increased ethanol production quotas, although sugar exports have been allowed to rise to 15 lakh tonnes. Domestic sugar production for the 2025-26 season has reached 193.05 lakh tonnes, with Maharashtra leading output increases, while Uttar Pradesh's production has declined slightly.
Published: Feb 03 2026, 6 pmeznews.inMenzies Aviation has secured a 15-year license to provide comprehensive ground handling services at Kempegowda International Airport Bengaluru, effective from April 1, 2026. The company will invest over $9.2 million to modernize its ground support equipment, enhancing operations across Terminals 1 and 2, which include passenger, ramp, and baggage services. This initiative aims to offer integrated ground and cargo services, catering to the airport's annual traffic of over 43 million passengers. Menzies plans to recruit approximately 1,000 new employees within the first three years, expanding its existing workforce of 1,700 in the cargo sector. Charles Wyley, Menzies' EVP for the Middle East, Africa, and Asia, emphasized the significance of this license in bolstering their presence in a rapidly growing aviation market. Girish Nair, COO of Bangalore International Airport Limited, welcomed Menzies as a partner, citing their extensive operational expertise.
Published: Feb 03 2026, 6 pmeznews.inThe Employees' Provident Fund Organisation (EPFO) has welcomed the Union Budget proposal for 2026-2027, which aims to rationalise the income tax framework for provident fund trusts, enhancing stakeholder interests through greater convergence and harmonisation of regulations. The budget aligns the income tax provisions governing recognised provident funds with the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, addressing existing discrepancies in eligibility for exemptions and investment patterns. Notably, the rigid ceiling on investments in government securities has been lifted, while the employer's contribution is now capped at ₹7.5 lakh per annum, with any excess taxed as perquisites. The EPFO emphasised that these changes will reduce confusion and litigation, ensuring that EPF exemptions are clearly governed by the relevant legislation. The adjustments reflect a significant step towards streamlining the regulatory framework for provident funds in India.
Published: Feb 03 2026, 5 pmeznews.inThe Aluminium Extrusion Manufacturers Association of India (ALEMAI) has expressed concerns that the recent India-US trade deal will primarily benefit select sectors, leaving aluminium, iron, and steel exports still subject to a steep 50 per cent tariff in the US market. Following a phone conversation between US President Donald Trump and Indian Prime Minister Narendra Modi, it was announced that reciprocal tariffs on Indian goods would decrease from 25 per cent to 18 per cent. However, ALEMAI President Jitendra Chopra noted that while this reduction aids industries like textiles and electronics, core metal sectors will continue to face high duties under US Section 232 regulations, which are set to remain in effect until June 2025. Despite these challenges, Chopra welcomed the trade deal as a positive step towards reducing uncertainty in trade relations, which could accelerate India's economic development. India's merchandise exports to the US saw a slight decline in December 2025, attributed to these high tariffs.
Published: Feb 03 2026, 4 pmeznews.inIndia's commitment to fiscal discipline remains steadfast, according to Anuradha Thakur, Secretary of the Department of Economic Affairs in the Ministry of Finance. Speaking on February 3, 2026, Thakur highlighted the positive impact of a recent trade accord between India and the United States, which has alleviated significant global uncertainty. She emphasized that while India aims to uphold fiscal responsibility, it will not compromise on its social and developmental priorities. This statement reflects the government's ongoing efforts to balance economic stability with the need for social investment, ensuring that growth does not come at the expense of essential public services and development initiatives. The announcement comes at a time when global economic dynamics are shifting, and India seeks to position itself as a resilient player in the international market.
Published: Feb 03 2026, 4 pmeznews.inIndian refiners are seeking clarity from the government regarding future Russian oil purchases following President Donald Trump's announcement that India, the world's third-largest oil importer, would cease imports of Moscow's crude in exchange for reduced trade tariffs. This announcement came after a call with Prime Minister Narendra Modi, who did not address oil in his response. While India has reduced its Russian crude imports, particularly after sanctions on major producers, it has not completely halted purchases due to attractive discounts. Reports indicate that at least three refiners are seeking guidance, with two temporarily suspending purchases. India's imports, which peaked at over 2 million barrels per day post-Ukraine invasion, have since declined to around 1.2 million barrels. Officials predict further reductions to between 800,000 and 1 million barrels per day, with a focus on increasing imports from Canada and the US.
Published: Feb 03 2026, 4 pmeznews.inIndia's Chief Economic Advisor, V. Anantha Nageswaran, has indicated that the country's economic growth could exceed previous forecasts following a significant reduction in US tariffs on Indian goods. In an interview with Bloomberg Television, Nageswaran suggested that growth might approach 7.4% this year, up from his earlier estimate of 6.8% to 7.2%. The US has lowered its tariff on Indian imports from 25% to 18% and eliminated a punitive duty on Russian oil, a move that could enhance India's attractiveness to global manufacturers. This development aligns with Prime Minister Narendra Modi's ambition to transform India into a developed economy by 2047. The Indian markets responded positively, with the rupee experiencing its largest gain in over three years and stocks rising significantly. Other economists are also expected to revise their growth forecasts upward, reflecting the positive impact of the tariff changes.
Published: Feb 03 2026, 4 pmeznews.inCareEdge Ratings has revised its FY27 GDP growth estimate for India upward by 20 basis points to 7.2%, attributing this boost to a recent US-India trade deal that reduces reciprocal tariffs. Chief Economist Rajani Sinha noted that the tariff cuts could enhance India's GDP by approximately 0.2 percentage points, with around USD 65 billion of exports expected to be affected. The deal, announced by US President Donald Trump, includes a reduction of tariffs from 25% to 18% on certain goods, while India is expected to lower its tariffs and non-tariff barriers to zero. Although not all of India's USD 90 billion exports to the US will benefit from the lower tariff, sectors like gems, jewellery, textiles, and garments are anticipated to gain, especially as competing nations face higher tariffs. The agreement also includes commitments from India to increase purchases of US goods, including energy and technology.
Published: Feb 03 2026, 4 pm
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