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Union Commerce and Industry Minister Piyush Goyal announced in Parliament that India has successfully secured its interests in sensitive sectors, particularly agriculture and dairy, in the upcoming India-US Free Trade Agreement (FTA). The deal, which is pending final paperwork, aims to create new opportunities for labour-intensive sectors, small and medium enterprises, and skilled workers, while facilitating access to advanced technologies. Goyal highlighted the agreement's alignment with India's initiatives like 'Make in India for the World.' Following a recent announcement by former President Trump to lower tariffs on Indian goods to 18%, Goyal noted that India would reciprocate by reducing tariffs and non-tariff barriers to zero, a move welcomed by Indian exporters. He also reiterated the government's commitment to prioritising the energy needs of its population amidst changing geopolitical dynamics, without directly addressing Trump's comments on Russian oil purchases. The details of the FTA are expected to be revealed soon. 
Published: Feb 04 2026, 2 pmeznews.inExpenditure Secretary V Vualnam assured stakeholders at the Global Procurement Summit that the FY 27 budget has ensured ample liquidity for government procurement, alleviating concerns over payment delays. He emphasized the transition to an almost entirely online public finance management system, which enhances transaction speed, transparency, and traceability. Vualnam committed to simplifying procurement documentation to aid bidders and evaluators, inviting suggestions to improve contract management and reduce disputes. The Government e-Marketplace (GeM) announced a partnership with the All India Management Association to enhance management capacity and promote innovation in procurement, with plans for an AI-enabled platform next year. Additionally, the World Bank's Country Procurement Lead, Shankar Lal, revealed plans to mobilize $10 billion annually for Indian projects, focusing on sustainability and local development. Meanwhile, the Asian Development Bank's Arti Mehra highlighted its involvement in 16 projects in India, emphasizing sustainable procurement and local labor requirements.
Published: Feb 04 2026, 3 pmeznews.inIndia's coir exports, which generated ₹4,343 crore in revenue last fiscal year, are poised for a significant boost following the US's decision to reduce import tariffs from 50% to 18%. This change, which is expected to help recover losses incurred in 2025, is particularly beneficial as the US market accounts for approximately ₹1,400 crore of India's coir exports, with American buyers representing 40% of the total. Sajan B. Nair, Secretary General of the Federation of Indian Coir Exporters’ Associations, described the tariff reduction as a long-overdue relief that has already prompted a surge in orders from buyers. The move is anticipated to enhance future shipments, especially ahead of the Christmas and New Year season, and restore competitiveness for Kerala's coir products, which constitute 57% of US imports. The previous high tariffs had forced exporters to seek alternative markets in Europe and Asia, making this adjustment crucial for the industry's recovery.
Published: Feb 04 2026, 4 pmeznews.inIndiGo has announced significant adjustments to its long-haul flight schedule, citing external operational constraints, including geopolitical airspace changes and airport congestion. Starting February 7, the airline will reduce its Delhi–Manchester services from five to four times a week, with further cuts to three times a week from February 19. Additionally, flights to Copenhagen will be suspended from February 17 until further notice. The Delhi–London Heathrow route will also see a reduction, dropping from five to four flights per week beginning February 9. IndiGo stated that these changes, initially planned for the summer schedule of 2026, are being implemented earlier to enhance reliability across its long-haul operations and to mitigate passenger inconvenience caused by misconnections and delays.
Published: Feb 04 2026, 3 pmeznews.inHong Kong Aero Engine Services Ltd (HAESL) has appointed Indian IT firm HCLTech to modernise its maintenance, repair, and overhaul (MRO) operations. This collaboration aims to enhance efficiency and scalability within HAESL's MRO processes, enabling real-time data visibility for faster decision-making and improved resource utilisation while ensuring compliance with global standards. HCLTech will implement its asset management solution, iMRO/4, as HAESL's Maintenance Execution System (MES) in Hong Kong. The integration of iMRO/4 with SAP S/4HANA is expected to improve end-to-end traceability and provide a unified view of workflows, thereby reducing barriers and enhancing execution efficiency. Ravinder Bedi, General Manager of Finance & Administration at HAESL, highlighted that this partnership represents a significant step in their transformation, establishing a scalable digital foundation that supports operational excellence and long-term growth.
Published: Feb 04 2026, 3 pmeznews.inThe Indian rupee has experienced its most significant rally in seven years, providing the Reserve Bank of India (RBI) with an opportunity to rebuild its foreign-exchange reserves, although analysts caution that further gains may be limited. Barclays and Nomura predict the RBI will capitalize on the rupee's recovery to purchase dollars, with Nomura forecasting a decline to 94 rupees per dollar by May. Following a 1.4% rise on Tuesday, the rupee was down 0.1% to 90.40 against the dollar on Wednesday. The RBI's unpredictable intervention strategy complicates the currency's recovery, as it has a substantial negative short forwards book of $62.4 billion. While some analysts expect the rupee to strengthen further, Barclays advises clients to short the currency, anticipating that the current rally may not be sustainable. The RBI's actions in the forex market will significantly influence bond markets and overall economic stability.
Published: Feb 04 2026, 3 pmeznews.inDe Havilland, the Canadian manufacturer of the Twin Otter seaplane, is exploring global supply chain partnerships to bolster its operations, particularly in light of India's recent Union Budget announcement aimed at promoting indigenous seaplane production. The government plans to introduce a viability gap funding scheme to enhance seaplane operations, which have struggled to gain traction in the country. Currently, 640 Twin Otter aircraft are in service worldwide, with 130 being amphibious variants, including nearly 100 operating in the Maldives. In India, SkyHop Aviation, led by Ajay Singh's daughter Avani, has secured three Twin Otter aircraft for routes from Kochi to Lakshadweep and is awaiting an air operator certificate for seaplane operations. The industry is optimistic that increased government support, including extended funding tenures, will make seaplane operations financially viable, boosting regional connectivity and tourism.
Published: Feb 04 2026, 3 pmeznews.inThe easing supply of rare-earth magnets is projected to boost electric two-wheeler (E2W) growth in India to 16-18% in the next fiscal year, following a slowdown to 12-13% in the current year due to supply chain disruptions and GST adjustments on internal combustion engine (ICE) models, according to Crisil Ratings. Last fiscal, E2W growth was at 22%. The supply issues had impacted volumes mid-year, but as conditions improve, manufacturers are introducing lower-priced electric models to bridge the price gap with ICE vehicles. Despite the anticipated growth, competitive pressures reveal a divide between legacy players, who are better insulated, and new-age electric vehicle manufacturers facing economic challenges. The market share of legacy OEMs has risen to 62% as of January 2026, up from 47% a year prior, attributed to their robust dealer networks and diverse model offerings, enhancing their market presence.
Published: Feb 04 2026, 2 pmeznews.inIn a statement to the Lok Sabha during the Budget session, Union Minister Piyush Goyal assured that sensitive sectors such as agriculture and dairy are fully protected in the forthcoming India-US trade deal. He announced a significant reduction in US tariffs on Indian goods from 50% to 18%, positioning India favorably against competitor nations. Goyal emphasized that this agreement will bolster initiatives like ‘Make in India’ and ‘Design in India’, enhancing self-reliance and boosting exports in labour-intensive sectors. He highlighted the potential for increased opportunities for skilled workers and Micro, Small and Medium Enterprises (MSMEs) as both nations work to finalize the technical aspects of the deal. Additionally, Goyal underscored the government's commitment to energy security, noting the importance of US goods in sectors such as aviation and nuclear. He concluded that the trade deal aligns with India's national interests.
Published: Feb 04 2026, 12 pmeznews.inIndia has successfully safeguarded its agriculture and dairy sectors in the recent India-US trade agreement, reflecting the critical role these industries play in the nation's economy. With over 700 million people reliant on agriculture for their livelihoods, India views this sector as sensitive, particularly in light of the potential influx of subsidized agricultural products from developed nations like the US. The US, which exported $1.6 billion in agricultural goods to India in 2024, seeks greater market access, but India's protective tariffs, ranging from zero to 150 percent, aim to shield domestic farmers from unfair competition. Furthermore, India's agricultural exports have risen to over $51 billion, with aspirations to reach $100 billion in the coming years. The World Trade Organization allows member countries to protect sensitive sectors, and India’s tariffs comply with these commitments, ensuring food security and rural employment remain priorities.
Published: Feb 04 2026, 1 pm
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