eznews.inIn the latest tea auction in Kochi, erratic weather conditions have led to reduced tea arrivals, impacting the quantities offered and driving up prices for certain categories. Auctioneers Forbes, Ewart & Figgis reported that 640,810 kg of CTC dust was offered, with a remarkable 94% sales rate, while blenders accounted for 65% of the total sold. Anil George, chairman of the Tea Trade Association of Cochin, highlighted a positive sales momentum, noting participation from 156 bidders, the highest in recent weeks, indicating strong market confidence, particularly from West Asia and CIS countries. In contrast, the orthodox whole leaf category saw a slight decline in prices due to reduced interest from the Middle East. Overall, the auction saw 92% sales in orthodox leaf, while CTC leaf maintained steady demand for good and medium brokens, with 90% of the 39,500 kg offered sold. 
Published: Oct 31 2025, 10 ameznews.inMaharashtra Chief Minister Devendra Fadnavis announced on Friday that the state government will decide on a farm loan waiver by June 30, 2026, following a meeting with protesting farmers at the Sahyadri Guest House in Mumbai. A committee has been established to provide recommendations on the waiver, which will be submitted by April 2026. Fadnavis emphasized the urgency of distributing a ₹32,000-crore relief package to assist farmers affected by natural calamities, with ₹8,000 crore already deposited and an additional ₹18,500 crore expected to be transferred soon. He reiterated the government's commitment to fulfilling its election manifesto promise of a loan waiver, while also seeking long-term solutions. The meeting included Deputy Chief Ministers Eknath Shinde and Ajit Pawar, as well as farmer leaders like Bachchu Kadu and Raju Shetti, with plans for further discussions next week.
Published: Oct 31 2025, 10 ameznews.inIndia's copper demand surged by 9.3% year-on-year in the 2024-25 fiscal year, reaching 1.87 million tonnes, according to the International Copper Association India (ICA India). This growth was primarily driven by the construction, consumer durables, and infrastructure sectors, with building construction and infrastructure witnessing year-on-year increases of 11% and 17%, respectively. The renewable energy sector also saw significant capacity additions, while consumer durables, particularly air conditioners and refrigerators, experienced a 19% rise in demand. The automotive sector's demand grew by 5%, bolstered by a 16% increase in electric vehicle sales. Domestic cathode production rose by 10%, and the share of secondary copper increased to 42% of total demand. However, ICA India’s Managing Director, Mayur Karmarkar, emphasized the need for India to enhance its copper reserves and domestic supply chains to support its long-term development goals.
Published: Oct 31 2025, 9 ameznews.inCyclone Montha has severely impacted cotton-growing regions in Telangana and Andhra Pradesh, submerging fields and damaging crops just before harvest. The cyclone's heavy rains have not only affected cotton but also paddy, soya, and maize, with preliminary estimates indicating losses of 1.81 lakh hectares in Telangana alone. Farmers are particularly concerned about high moisture levels in their cotton, which could force them to sell below the minimum support price, as the Cotton Corporation of India requires moisture levels between 8-12 percent for purchases. The unseasonal rains have delayed harvests, leading to lower cotton arrivals across India and creating market uncertainty as the 2025-26 season begins. Reports indicate that daily arrivals have dropped to 70,000–90,000 bales, significantly below normal levels, while quality issues are prompting selective buying by spinners. The full extent of the damage may only become clear once the weather stabilizes.
Published: Oct 31 2025, 9 ameznews.inThe Central Electricity Regulatory Commission (CERC) has proposed a buyout price for the Renewable Consumption Obligation (RCO) to be set at 105% of the weighted average price of Renewable Energy Certificates (RECs) for each fiscal year. This recommendation, outlined in a recent order, aims to guide designated energy consumers—such as Discoms and open access customers—in meeting their RCO compliance. Stakeholders have until November 21, 2025, to respond to the proposal. The Power Ministry has established a target for renewable energy sources to constitute 29.91% of total electricity consumption by FY25, increasing to 43.33% by FY30. CERC emphasized that while direct consumption of renewable energy or purchasing RECs should be prioritized, the buyout option may be necessary given current renewable capacity constraints. The proposed buyout price is intended to incentivize investment in renewable energy, crucial for achieving India's goal of 500 gigawatts of non-fossil fuel capacity by 2030.
Published: Oct 31 2025, 9 ameznews.inBusinesses will soon be able to record import entries in the Invoice Management System (IMS) under the Goods and Services Tax (GST) framework, enhancing convenience for GST assessees, according to the tax department. Starting from October 2025, a new section for 'Import of Goods' will allow taxpayers to access their Bill of Entry (BoE) for imports, including those from Special Economic Zones (SEZs), and take necessary actions. Taxpayers must assess their Input Tax Credit (ITC) eligibility, and if a GSTIN on a BoE is amended, the previous GSTIN must reverse any ITC claimed. The system will also provide options for declaring ITC reversals based on prior claims. If no action is taken on a BoE, it will be deemed accepted, with draft GSTR 2B generated monthly. While IMS is optional, it aims to streamline the matching of records for accurate ITC claims.
Published: Oct 31 2025, 9 ameznews.inArya.ag, one of India's leading integrated grain commercial platforms, is in discussions with Nigeria to share expertise and technology for establishing agricultural warehouses and a seed finance system, according to co-founder and CEO Anand Chandra. The collaboration will be consultancy-based, akin to Arya.ag's previous work in Ethiopia, but the company has no plans for investments in Africa, focusing instead on expanding its operations in the 21 Indian states where it currently operates. Arya.ag, which serves around 650,000 farmers and has managed over 4.5 million tonnes of commodities, aims to enhance its warehousing and finance services, targeting a throughput of 6 million tonnes. The firm, which reported a profit of ₹40 crore last fiscal year, provides quick loans against agricultural commodities, helping farmers navigate selling decisions and access better market returns through its commerce platform.
Published: Oct 31 2025, 8 ameznews.inNASA and Lockheed Martin have successfully tested the X-59, a groundbreaking supersonic jet designed to eliminate the disruptive sonic boom that has historically hindered high-speed commercial flights. The aircraft took its inaugural flight over the Southern California desert, marking a significant milestone in the quest for faster air travel. While supersonic flight has been possible since the 1940s, commercial use over land has been restricted due to the noise complaints from the public. The X-59 aims to change that, producing only a "gentle thump" instead of a loud boom. Although the recent test flight was slower than the speed of sound and focused on assessing structural integrity, it represents a crucial step toward potentially halving travel times between major cities like New York and Los Angeles. If successful, this innovation could pave the way for a new era in commercial aviation, reviving interest in supersonic travel.
Published: Oct 31 2025, 7 ameznews.inAir India is seeking approximately ₹10,000 crore ($1.14 billion) from its owners, Tata Sons and Singapore Airlines, to revamp its systems, safety protocols, and services following a tragic crash in June that resulted in the deaths of over 240 passengers. This financial request, reported by Bloomberg News, comes as the airline grapples with its most severe crisis and aims to restore its reputation while modernizing its fleet. The funds will be used to enhance Air India’s operational capabilities and establish in-house engineering and maintenance departments. The financial support will be allocated based on ownership stakes, with Tata Group holding a 74.9% share and Singapore Airlines the remainder. The nature of the funding—whether as an interest-free loan or equity—will be determined by the owners. Air India’s CEO recently pledged to improve internal practices amid these challenges.
Published: Oct 31 2025, 6 ameznews.inIndia's engineering goods exports rose by 2.93% year-on-year in September, reaching USD 10.11 billion, marking the fourth consecutive month of growth, according to the Engineering Exports Promotion Council (EEPC). This increase occurred despite a significant 9.4% drop in shipments to the US, the largest market for Indian engineering products, where imports fell to USD 1.4 billion from USD 1.55 billion a year earlier, largely due to tariffs imposed during the Trump administration. Exports to the UAE also declined, but a notable 14.4% increase in shipments to China, alongside growth in other regions such as ASEAN and Latin America, helped sustain overall positive performance. EEPC chairman Pankaj Chadha highlighted the importance of South-South trade and ongoing negotiations for free trade agreements, while also noting challenges like high raw material costs and export controls from other nations. Cumulatively, engineering exports for the first half of the fiscal year grew by 5.35%.
Published: Oct 30 2025, 11 pm
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