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A report by the India Energy Storage Alliance (IESA), titled *Vision 2047: India’s Roadmap for a Self-Reliant Battery Ecosystem*, highlights the crucial role of electric mobility and large-scale energy storage in achieving India's climate goals and the Viksit Bharat Vision 2047. Released during the India Battery Manufacturing and Supply Chain Summit 2026, the report forecasts a dramatic increase in demand for Advanced Chemistry Cell (ACC) batteries, from 28 GWh in 2025 to over 700 GWh by the mid-2040s. It predicts that Lithium Iron Phosphate (LFP) and its variants will dominate battery demand, comprising over 60% by 2047 due to their cost-effectiveness and safety. Rajesh Kulhari, Joint Secretary at the Ministry of Renewable Energy, emphasized the need for collaboration among various stakeholders to drive this energy storage revolution. Debmalya Sen, IESA President, noted that the growing battery demand presents both a significant opportunity and a strategic necessity for enhancing domestic manufacturing capabilities. 
Published: Feb 05 2026, 8 pmeznews.inThe Indian government has lifted the stock limit on wheat for traders, wholesalers, and large retailers, effective immediately, following a significant increase in wheat inventories, which are now over 3 million tonnes higher than last year. This decision comes as wheat prices have declined from ₹2,970.10 per quintal to ₹2,852.30, indicating a surplus in the market. The government had initially imposed stock caps on May 27, 2025, but now requires all wheat stocking entities to report their stock levels weekly on the food stock portal. Current data shows private entities hold approximately 8.1 million tonnes of wheat, reflecting a comfortable supply situation. Additionally, wheat acreage has risen to 334.17 lakh hectares this rabi season, driven by farmers' preference for the crop due to assured minimum support prices. The government is closely monitoring prices and stock levels to ensure adequate supply for public distribution and welfare schemes.
Published: Feb 05 2026, 9 pmeznews.inAgritech firm StarAgri has unveiled its new warehousing platform, Stocyard, aimed at the UAE market for non-agricultural commodities, including chemicals and steel. The company is also developing AgriFresh, a marketplace for fresh produce designed to streamline supply chain inefficiencies domestically. StarAgri operates over 2,200 warehouses with a capacity of 5.08 million metric tonnes, achieving a 73% utilization rate. In FY25, the company reported a consolidated revenue of ₹1,560.4 crore, marking a 55% increase, while net profit rose by 47% to ₹68.47 crore. CEO Amith Agarwal emphasized the company's commitment to providing affordable, collateral-based finance and professional storage to farmers, aiming to empower one crore farmers by FY30. StarAgri's asset-light, franchise-owned model supports rapid expansion while maintaining strong asset quality, with plans to target revenues exceeding ₹2,000 crore in FY26.
Published: Feb 05 2026, 9 pmeznews.inThe Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal announced significant reforms aimed at streamlining the Income Tax process, focusing on auto-populating data to simplify taxpayer interactions. Under the new rules, the requirement for Form 60 is being rationalised, and litigation management has seen a 40% reduction in pending cases, with efforts to combine assessment and penalty proceedings to expedite resolutions. The recent Budget introduced a unified safe harbour provision for the software industry, reducing uncertainty and potentially boosting foreign direct investment (FDI) by standardising tax rates to 15.5%. Agrawal emphasised a shift towards taxpayer trust, advocating for simpler forms and structural reforms to encourage compliance. The overarching goal is to foster collaboration over confrontation, allowing the tax department to focus on more complex issues once a foundation of trust is established.
Published: Feb 05 2026, 9 pmeznews.inUnion Home and Cooperation Minister Amit Shah launched 'Bharat Taxi', India's first cooperative-led ride-hailing platform, at Vigyan Bhavan in New Delhi on Thursday, following a successful two-month pilot. Initially available in Delhi-NCR and Gujarat, the service aims to expand nationwide within three years. Shah highlighted the platform's unique ownership model for drivers, stating that profits will be shared, with drivers receiving ₹80 out of every ₹100 earned. Bharat Taxi operates on a zero-commission, surge-free pricing model and is backed by eight major cooperative organizations. The platform, registered under the Multi-State Cooperative Societies Act, 2002, has already attracted over 2.5 lakh drivers and 8.5 lakh passengers. Shah expressed confidence in its future, noting that rival platforms have begun reducing commissions and offering incentives in response to Bharat Taxi's success. The service allows customers to hail cars, three-wheelers, and two-wheelers, marking a significant development in India's mobility sector.
Published: Feb 05 2026, 9 pmeznews.inGold and silver prices experienced significant volatility on Thursday, reversing a two-day upward trend as gold fluctuated by over $200 and silver by $16 an ounce. The decline was attributed to a stronger dollar and hawkish signals from the US Federal Reserve regarding interest rates, alongside a weakening rupee in India. Gold fell 2.9% to $4,818 an ounce, while silver plummeted over 15% to $74.14 an ounce, with both metals facing renewed selling pressure and record outflows from China's gold ETFs. Analysts noted that despite the recent downturn, the broader uptrend for precious metals remains intact, with profit-taking and market corrections expected. The market is closely monitoring upcoming monetary policy meetings from the Bank of England and the European Central Bank for further direction. Overall, the precious metals market is navigating a complex landscape influenced by geopolitical tensions and shifts in investor sentiment.
Published: Feb 05 2026, 8 pmeznews.inM B Patil, Karnataka's Minister for Large and Medium Industries and Infrastructure Development, has called on the central government to consider a high-speed rail corridor connecting Bengaluru and Mumbai. In letters to Finance Minister Nirmala Sitharaman and Union Minister of State for Railways V Somanna, Patil acknowledged the recent Budget proposals for Bengaluru–Hyderabad and Bengaluru–Chennai corridors but noted that the limited 100 km stretch in Karnataka would yield minimal benefits for the state. He proposed a new corridor that would enhance connectivity in underserved regions and link to the planned Pune–Mumbai high-speed rail project, thereby increasing its strategic importance. This request follows Union Minister Pralhad Joshi's discussions with Railway Minister Ashwini Vaishnaw about a Bengaluru–Pune corridor, which he believes would benefit several districts. The recent Railway Budget allocation of ₹7,748 crore for Karnataka underscores the government's commitment to improving connectivity and modernisation in the region.
Published: Feb 05 2026, 8 pmeznews.inVanderlande, a leader in logistics process automation, has officially opened its India Innovation Centre (IIC) in Pune, a pivotal development in its Indian operations. The facility, designed for collaboration, will enable engineers to co-create and test solutions for the warehousing, airports, and parcel sectors, focusing on advancements in robotic automation, artificial intelligence, and digital integration. Spanning two acres, the IIC enhances Vanderlande India’s status as a Global Capability Centre, now the company’s second-largest technology hub after the Netherlands. With over 1,300 employees, Vanderlande India has evolved from a support office to a key player in R&D and software development. CFO Astrid van Druten emphasized the centre's role in fostering innovation and efficiency, while Managing Director Manish Patil highlighted its significance in reinforcing Vanderlande's commitment to global capabilities and positive operational impact. The IIC represents a strategic shift towards innovation in Vanderlande's ongoing "Everyday Better" initiative.
Published: Feb 05 2026, 7 pmeznews.inIndia's mobility sector commenced 2026 on a stable note, with truck rentals remaining flat month-on-month across key trunk routes, while achieving a year-on-year growth of 5-12%, as reported by the Shriram Mobility Bulletin. The January data reflects a busy trucking environment, driven by the Rabi harvest and increased agricultural transport. Sudarshan Holla, Joint Managing Director of Shriram Finance, noted that the recent Indo-US trade pact is expected to enhance vehicular movement in export hubs, although geopolitical tensions along the Indo-Bangla border pose challenges. The electric vehicle market is emerging as a significant growth driver, with strong demand for SUVs boosting passenger vehicle sales. Notably, motor car sales surged by 37% month-on-month, alongside a 37% increase in goods carriers and a 33% rise in three-wheeler sales, indicating a robust recovery in both personal and commercial transport sectors, despite a decline in bus retail volumes.
Published: Feb 05 2026, 7 pmeznews.inStorage levels in India's major reservoirs have continued to decline, with the Central Water Commission (CWC) reporting a drop to 67% of total capacity across 166 reservoirs. The southern region has been particularly affected, with levels falling below 60% of its 55.288 billion cubic meters (BCM) capacity, now at 32.710 BCM, compared to 60.3% last year. While overall storage remains 8.5 percentage points higher than last year and 25 percentage points above the 10-year average, all five regions have seen levels dip below 80%. The western zone, previously the highest, has also fallen to 78.6%. The India Meteorological Department (IMD) noted that 71% of districts have experienced deficient rainfall this year, with a 31% overall shortfall. With no significant rainfall forecasted in the coming weeks, further declines in reservoir levels are anticipated.
Published: Feb 05 2026, 7 pm
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