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The Indian government has disbursed ₹28,748 crore under its Production-Linked Incentive (PLI) schemes, aimed at bolstering domestic manufacturing across 14 sectors, including electronics and pharmaceuticals, since their launch in 2021. With a total outlay of ₹1.97 lakh crore, the PLI initiative has approved 836 applications, leading to investments exceeding ₹2.16 lakh crore and generating employment for over 14.39 lakh individuals. The sectors involved have reported cumulative sales of ₹20.41 lakh crore and exports of ₹8.3 lakh crore. Notably, the scheme has significantly reduced mobile phone imports by nearly 77% since 2020-21, with local production now meeting over 99% of domestic demand. Additionally, the PLI has spurred advancements in electric mobility and critical components manufacturing, while the food processing sector has attracted investments of over ₹9,200 crore. The initiative is also set to enhance solar module manufacturing capacity with commitments nearing ₹52,942 crore. 
Published: Feb 20 2026, 3 pmeznews.inTrade experts have expressed significant concerns regarding India's recent free trade agreements (FTAs) with the United States and the European Union, warning that these pacts could fundamentally alter key sectors such as agriculture, pharmaceuticals, and automobiles while limiting India's policy autonomy. During a webinar hosted by the Forum for Trade Justice, analysts highlighted that the agreements extend beyond tariff reductions, potentially undermining critical regulatory frameworks. Abhijit Das raised alarms about the dilution of compulsory licensing for medicines, which could lead to higher healthcare costs, while Biswajit Dhar pointed to ambiguities in agricultural concessions, particularly regarding genetically modified products. Additionally, provisions related to sustainability and non-market policies could impose external oversight on India's domestic regulations. Experts called for comprehensive impact assessments to evaluate the long-term implications of these FTAs on India's economic landscape and policy sovereignty, emphasizing the need for careful consideration before further commitments.
Published: Feb 20 2026, 4 pmeznews.inRain and thundershowers are expected to affect southern and central Tamil Nadu on Friday, as moisture from Sri Lanka continues to seep into the region, despite a weakening low-pressure area in the equatorial Indian Ocean. The India Meteorological Department (IMD) noted that while the existing low-pressure system may shift northwest towards Sri Lanka, a new low could form in the southeast Bay of Bengal within the next two days. This weather pattern is influenced by an eastward-moving Madden-Julian Oscillation, which brings moisture and high winds. Heavy rainfall is anticipated in southern Tamil Nadu and Kerala over the weekend, with thunderstorms and gusty winds also forecasted. In northern India, a weakened western disturbance is expected to bring thunderstorms to Uttarakhand and other regions. Additionally, isolated rain and snow are predicted for Jammu and Kashmir, Himachal Pradesh, and Uttarakhand from Sunday.
Published: Feb 20 2026, 4 pmeznews.inThe Indian government has unveiled seven new measures aimed at boosting exports as part of its ₹25,060-crore export promotion mission. These initiatives include credit assistance for e-commerce exporters and support for alternative trade instruments, with three components already launched in January. Key features include the Direct E-Commerce Credit Facility, offering up to ₹50 lakh with 90% guarantee coverage, and the Overseas Inventory Credit Facility, providing support up to ₹5 crore with a 75% guarantee. Additionally, an interest subvention of 2.75% will be available for export factoring to assist MSMEs. The government will also reimburse up to 75% of eligible testing and certification costs under the TRACE initiative, while the FLOW program will facilitate access to overseas warehousing. Furthermore, the LIFT initiative aims to support exporters from remote regions by reimbursing freight costs. These measures are designed to enhance market integration and reduce capital costs for exporters.
Published: Feb 20 2026, 4 pmeznews.inIndia has granted a one-month interim extension to four Russian insurance companies—Soglasie Insurance, Sberbank Insurance, Ugoria Insurance Group, and ASTK Insurance—allowing them to continue providing marine insurance for ships arriving at Indian ports. This extension, detailed on the website of India's Directorate-General of Shipping, comes as these firms' registrations were set to expire on February 20, 2026. The move is crucial for maritime transport, particularly for oil cargoes, amid tightening global sanctions and increasing security concerns over Russian supply chains. India currently recognizes eight Russian entities eligible for protection and indemnity (P&I) coverage, essential for ensuring compliance with safety standards. This development occurs as India seeks to reduce its imports of Russian oil while negotiating a trade deal with the United States, highlighting the complexities of international trade amid geopolitical tensions.
Published: Feb 20 2026, 4 pmeznews.inThe Solvent Extractors’ Association of India (SEA) has expressed cautious optimism regarding the anticipated India-US bilateral trade agreement, which is expected to enhance market access for various goods, including agriculture and processed foods. In a letter to members, SEA President Sanjeev Asthana highlighted the need for careful scrutiny of the edible oil and oilseed sectors, particularly concerning biotechnology and genetically modified crops, which remain contentious, especially for soybean meal. He warned that increased access to US-origin DDGS could disrupt India's domestic feed and maize markets, urging regulatory caution to maintain agricultural price stability and domestic competitiveness. Meanwhile, the Union Budget 2026-27 has allocated ₹1.63 lakh crore to agriculture, focusing on irrigation, credit support, and high-value crops to diversify farm incomes. SEA also proposed including specific HSN codes for minor forest products in tariff negotiations with the UK, aiming to benefit India's tribal communities.
Published: Feb 20 2026, 3 pmeznews.inAkasa Air has reported that since launching its 'Pets on Akasa' service in November 2022, it has successfully transported over 10,000 pets, highlighting a growing trend in pet travel. The airline's Chief Marketing Officer, Naarayan T V, noted that 26% of pet owners have chosen to fly with Akasa more than once, indicating a strong level of trust in the airline's travel experience. The service has seen particularly high demand during the festive season, with October to December accounting for nearly 35% of annual pet journeys. The Bengaluru-Delhi-Bengaluru route emerged as the most popular, representing 13.6% of all pet travel. Dogs comprised 60% of the pets flown, while cats made up the remaining 40%, with 93% of pets travelling in-cabin. The airline also observed significant demand for pet travel on routes to and from Guwahati, beyond major metropolitan areas.
Published: Feb 20 2026, 3 pmeznews.inInternational Monetary Fund (IMF) Managing Director Kristalina Georgieva highlighted the transformative potential of artificial intelligence (AI) during a panel at the AI Impact Summit, stating it could boost global growth by 0.8%. This increase would enable the world to grow faster than pre-pandemic levels, creating more jobs and opportunities. Georgieva emphasized that this growth trajectory aligns with India's ambition to become a developed nation, or Viksit Bharat, by 2047, aiming for a $30 trillion economy. However, she also warned of significant risks posed by AI to the job market, predicting that 40% of jobs globally could be affected, with the impact more pronounced in advanced economies, where up to 60% of jobs may be at risk. The dual nature of AI's potential benefits and challenges underscores the need for careful management as nations navigate this technological shift.
Published: Feb 20 2026, 3 pmeznews.inAgritech firm Varsapradaya is revolutionizing India's coffee cultivation with the launch of IoT-based automated weather gauge stations and soil nutrient monitoring devices. CEO Prem Thudia announced the rollout of these solar-powered systems, with 20 installations completed and plans to expand to 450-500 devices this year, reflecting a growing demand for tech-driven farm management solutions. The soil monitoring device provides real-time insights into key soil parameters, while the weather stations deliver critical climatic data for effective plantation management. Priced at ₹65,000 and ₹40,000 respectively, these tools enhance cost efficiency for growers managing medium-sized holdings. Varsapradaya also aims to offer advisory services through an app, delivering actionable insights and disease alerts. As coffee growers face increasing agronomic challenges due to climate change, precision monitoring tools are becoming essential. The company plans to establish a manufacturing unit in Mysore and is exploring applications for other crops like pepper and arecanut.
Published: Feb 20 2026, 12 pmeznews.inA three-day meeting between Indian and American officials is set to commence on February 23 in the US to finalize the legal text of an interim trade agreement. This follows a joint statement earlier this month confirming the framework of the deal, which aims to extend duty concessions on various traded goods. The Indian delegation, led by chief negotiator Darpan Jain from the Commerce Ministry, will work to translate the agreement's contours into a formal legal document, anticipated to be signed in March. Notably, the US plans to reduce reciprocal tariffs on Indian goods from 25% to 18% and has already lifted punitive tariffs on Indian imports of Russian crude oil. This agreement marks a significant step in enhancing trade relations between the two nations.
Published: Feb 20 2026, 12 pm
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