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Pankaj Chadha, Chairman of the Engineering Export Promotion Council (EEPC) of India, has urged the inclusion of steel and aluminium products, particularly those produced by micro, small, and medium enterprises (MSMEs), in ongoing bilateral trade agreement (BTA) discussions with the United States. He highlighted the detrimental impact of the 50% tariffs imposed under Section 232 on engineering exports to the US, which has created a significant tariff differential of around 30% compared to competitors. Chadha called for a special support package to mitigate this gap. Additionally, he expressed concerns over the European Union's proposal to reduce quotas and increase out-of-quota tariffs to 50%, advocating for the maintenance of current quotas and a gradual phasing out of tariffs as part of free trade agreement negotiations. The EEPC also recommended exempting stainless-steel long products from tariff rate quotas, emphasizing their importance to MSMEs. 
Published: Nov 10 2025, 7 pmeznews.inMark Kent, Chief Executive of the Scotch Whisky Association (SWA), has hailed the India-UK Free Trade Agreement (FTA) as a pivotal trade deal that will enhance collaboration between Scotch producers and Indian manufacturers. With India being the world's largest whisky market, the FTA will significantly reduce tariffs on Scotch, from 150% to 75% initially, and eventually to 40% over the next decade, allowing for greater exports and a wider variety of Scotch available to Indian consumers. Currently, 79% of Scotch exports to India are in bulk for blending with Indian Made Foreign Liquor (IMFL). Kent emphasized that the agreement will not only boost Scotch exports but also foster mutual investment, technology transfer, and job creation in both countries. While concerns about the impact on Bottled-in-India Scotch persist, industry leaders assure that the FTA will enhance product quality and competitiveness for Indian spirits, benefiting consumers and the broader alcobev sector.
Published: Nov 10 2025, 9 pmeznews.inA two-day 'National Conference of Labour & Employment and Industry Ministers and Secretaries of States/UTs' is set to commence on Tuesday, focusing on enhancing labour, employment, and workforce welfare across India. Chaired by Union Minister Mansukh Mandaviya, the conference will gather state ministers and senior officials to discuss strategies for improving the employment ecosystem, with particular emphasis on the Pradhan Mantri Viksit Bharat Rojgar Yojana (PMVBRY). The Ministry of Labour and Employment highlighted the importance of state participation in aligning regional employment initiatives with PMVBRY. Key topics will include universalising social security through data-sharing and integrating state welfare schemes with central platforms like the e-Shram portal. The conference will also introduce digital tools for the construction sector and promote best practices among states. Ultimately, the forum aims to establish a cohesive legal framework to support labour reforms, fostering inclusive growth in India.
Published: Nov 10 2025, 9 pmeznews.inTractor sales in India reached a record high in October, with 173,635 units sold, marking a significant increase from 151,772 in October 2024 and surpassing the previous peak of 154,417 in September 2025. This surge is attributed to favorable monsoon conditions and a recent reduction in GST rates, which have improved affordability for consumers. Veejay Nakra, President of Mahindra & Mahindra's Farm Equipment Business, noted that timely agricultural activities are expected to further boost sales. Crisil Ratings reported a 14% month-on-month increase in sales, driven by festive demand and pre-rabi purchasing. ICRA has revised its growth forecast for the tractor industry to 8-10% for fiscal year 2026, up from 4-7%, citing strong credit profiles for manufacturers and healthy profit margins supported by stable raw material costs and low debt levels.
Published: Nov 10 2025, 8 pmeznews.inDespite government assurances of maize procurement at the minimum support price (MSP) through partnerships with ethanol distilleries, the all-India average price for maize stood at ₹1,821 per quintal in October, with significant regional disparities. In Madhya Pradesh, prices dipped to ₹1,580, while Uttar Pradesh and Haryana reported higher rates of ₹2,284 and ₹2,378, respectively, nearing the MSP of ₹2,400. Experts attribute these variations to local factors and inadequate data collection, emphasizing the need for market reforms and better monitoring of farm-gate prices to ensure farmers benefit. The introduction of a licensing system for traders in Uttar Pradesh has reportedly improved mandi rates, fostering competition among buyers. However, concerns persist regarding potential collusion between traders and officials, necessitating scrutiny of pricing anomalies. Calls for enforcing MSP standards and enhancing grading facilities in mandis have emerged as crucial steps to address these issues.
Published: Nov 10 2025, 8 pmeznews.inFinance Minister Nirmala Sitharaman convened the second Pre-Budget Consultation meeting in New Delhi on Monday, engaging with representatives from farmer associations and agriculture economists as part of preparations for the General Budget 2026-27, set to be presented on February 1, 2026. The discussions focused on enhancing India's agricultural economy, with Farmer Producer Organisations advocating for increased processing units and low-interest loans to improve post-harvest infrastructure. Agriculture experts called for a dedicated fund to boost research and development in the sector, emphasizing the need for innovations in crop productivity and sustainable practices. Bharat Krishak Samaj Chairman Ajay Vir Jakhar highlighted the decline in real terms of R&D funding over the past two decades and proposed a re-evaluation of crop insurance, suggesting a compensation scheme instead. Participants underscored the urgency of addressing key challenges facing the agricultural sector to ensure its growth and sustainability.
Published: Nov 10 2025, 8 pmeznews.inSwan Defence and Heavy Industries Ltd (SDHI) has signed a Letter of Intent with Norwegian ship owner Rederiet Stenersen AS for the construction of six IMO Type II chemical tankers, valued at approximately $220 million. This marks SDHI's first major shipbuilding order since reviving the Pipavav shipyard in Gujarat. The vessels, designed by Norway's Marinform AS and StoGda, will be classed by DNV and built to Ice Class 1A standards, featuring an advanced hybrid propulsion system aimed at enhancing manoeuvrability and reducing emissions. Each tanker, with a capacity of 18,000 DWT, is designed to be future-ready, allowing for conversion to methanol or LNG fuel and the potential for battery upgrades. Vivek Merchant, SDHI's Director, emphasized the significance of this partnership for Indian shipbuilding and the global confidence in India's capabilities. The agreement also includes an option for an additional six ships.
Published: Nov 10 2025, 8 pmeznews.inThe Indian government has approved the export of 1.5 million tonnes of sugar for the 2025-26 season, despite current domestic prices exceeding international rates, making exports unviable. Union Food Minister Pralhad Joshi announced the decision, which comes amid industry calls for a higher export quota of 2 million tonnes, driven by anticipated surplus production due to increased yields. Deepak Ballani, director general of the Indian Sugar and Bio-energy Manufacturers Association, welcomed the government's move but noted that exports are currently impractical. He expressed hope for a potential trading window from mid-December to March, when lower-quality sugar might find a market. The Indian Sugar Mills Association projects a significant 18.5% rise in sugar output to 30.95 million tonnes, aided by robust cane production in Maharashtra and Karnataka. Meanwhile, domestic prices remain around ₹3,700-3,750 per quintal, while global sugar prices are pressured by expectations of higher production in major exporting countries.
Published: Nov 10 2025, 8 pmeznews.inIndia's defence production has reached a record ₹1.51 lakh crore in FY25, with Defence Public Sector Undertakings (DPSUs) contributing 71.6%, Defence Minister Rajnath Singh announced during an Annual Performance review meeting in New Delhi. This review follows the implementation of the revised Defence Procurement Manual (DPM) 2025, which aims to enhance competition by removing the need for a No Objection Certificate from state entities for procurement. While DPSUs remain dominant, private sector contributions have risen from 21% to 23% in FY25, indicating a shift towards greater private involvement in defence manufacturing. Singh also noted that defence exports have increased to ₹6,695 crore, reflecting international confidence in India's capabilities. Three significant MoUs were signed to bolster collaboration and reduce import reliance, alongside initiatives to promote innovation and sustainability in the sector.
Published: Nov 10 2025, 7 pmeznews.inThe Department of Consumer Affairs has proposed a new regulation requiring e-commerce platforms to implement a searchable filter for products based on their "Country of Origin." This initiative aims to facilitate consumer access to locally made products, aligning with the government's "Atmanirbhar Bharat" and "Vocal for Local" campaigns. The draft amendment to the Legal Metrology (Packaged Commodities) Rules 2011 is open for public consultation until November 22. It mandates that e-commerce entities selling imported goods provide this filter, enhancing transparency and enabling consumers to make informed purchasing decisions. The Ministry emphasized that this measure will help level the playing field for Indian manufacturers, ensuring that domestic products receive equal visibility alongside imports. This move follows a 2020 regulation requiring the display of country of origin on e-commerce platforms, reinforcing the government's commitment to promoting local products and building consumer trust in digital marketplaces.
Published: Nov 10 2025, 7 pm
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