eznews.inActive overseas demand, particularly from Middle Eastern and CIS countries, has driven up orthodox leaf prices at Kochi auctions, with sales reaching 92% of the 242,390 kg offered. In Sale 3, whole leaf and brokens saw price increases of Rs5 to Rs10, reflecting a firm market trend, according to auctioneers Forbes, Ewart & Figgis. Russian buyers have notably contributed to this surge, although the Iranian market remains subdued due to ongoing unrest. Anil George, chairman of the Tea Trade Association of Cochin, anticipates that orthodox teas will continue to outperform due to supply-demand imbalances and sustained interest from Middle Eastern markets, with stable prices expected until mid-February. The overall tea market has benefited from strong domestic consumption and evolving drinking habits, while CTC dust prices remained steady, with good liquoring teas showing firmness. The auction dynamics reflect a blend of rising consumer demand and supply constraints. 
Published: Jan 23 2026, 5 pmeznews.inSamit Guha, Managing Director and CEO of MMTC-PAMP, has called on the Indian government to address duty disparities that disadvantage domestic precious metal refiners compared to imports facilitated by free trade agreements (FTAs). Guha highlighted the significant duty gap, particularly through the Single Euro Payments Area (SEPA) route, which affects the competitiveness of local refiners. He urged the government to consider input-related benefits and duty differentials to enhance India's global standing in refining and increase the number of London Bullion Market Association-accredited refiners. Currently, the duty on dore stands at 6% for both gold and silver, with an effective rate of 5.35% for refiners. MMTC-PAMP, which imported around 40 tonnes of gold and 50 tonnes of silver in fiscal 2024-25, is prepared to support the government with its technical expertise in refining.
Published: Jan 23 2026, 5 pmeznews.inIndia's holdings of US Treasuries have plummeted to a five-year low of $174 billion, a 26% decrease from earlier this year, as the country seeks to bolster its currency and diversify its reserves. Treasuries now represent one-third of India's foreign-exchange assets, down from 40% a year ago, reflecting a broader trend among major economies, including China, to reduce reliance on US debt. This shift is partly driven by concerns over sanctions risks and trade tensions, particularly following the US's imposition of high tariffs on Indian exports. The Reserve Bank of India (RBI) is reportedly selling Treasuries to support the struggling rupee, which has faced pressure amid stalled trade negotiations with the US. While the RBI's actions align with a global trend of central banks exploring alternatives to the dollar, experts suggest that any future stabilization in India's Treasury holdings will depend on improved trade relations.
Published: Jan 23 2026, 3 pmeznews.inIndia's economic activity showed signs of improvement in January, with the manufacturing purchasing managers' index (PMI) rising to 56.8 from 55 in December, and the services PMI increasing to 59.3 from 58. The composite index also climbed to 59.5, up from 57.8 in the previous month, indicating robust domestic demand despite challenges posed by high US tariffs. However, Pranjul Bhandari, chief India economist at HSBC, noted that January's figures remain below the 2025 average. The US has imposed a 50% tariff on Indian shipments, impacting trade negotiations and economic prospects. While exports grew for the second consecutive month in December, labor-intensive sectors continue to face pressure. Exporters have expressed concerns that delays in securing a trade deal with the US could jeopardize orders for the upcoming summer shopping season. The preliminary PMI data, which indicates expansion above 50, may be revised in the final report next month.
Published: Jan 23 2026, 3 pmeznews.inThe Modi government is intensifying its focus on 15 key sectors, including semiconductors, metals, and leather, with an ambitious target to elevate India's annual goods exports to $1.3 trillion by 2035. This initiative aims to triple exports through structural reforms in manufacturing rather than extensive financial outlays, following previous attempts that yielded limited success. A modest budget of ₹10,000 crore ($1 billion) will be allocated to develop infrastructure for approximately 30 manufacturing hubs, alongside $218 million in grants for advanced sectors like chip production. A new government panel will oversee regulatory streamlining to facilitate faster approvals and reduce compliance burdens, addressing the challenges posed by inconsistent state policies. The National Manufacturing Mission, announced last year, seeks to enhance coordination between federal and state governments to foster a more conducive environment for manufacturing growth. Further details are expected in the upcoming budget announcement.
Published: Jan 23 2026, 3 pmeznews.inIndia is intensifying efforts to secure concessions for access to critical minerals during the final stages of negotiations for a comprehensive economic partnership agreement (CEPA) with Chile. This agreement could provide India with long-term access to Chilean mining blocks, particularly for copper, lithium, and rare earth elements, although legal constraints in Chile remain a hurdle. Ongoing online discussions aim to resolve these issues, with a potential visit from Commerce and Industry Minister Piyush Goyal to finalize the deal. The CEPA is expected to enhance bilateral trade, which currently stands at $3.75 billion, by facilitating Indian exports of automobiles, pharmaceuticals, and other goods, while Chile seeks greater market access for its agricultural products. This focus on critical minerals aligns with India's strategy to secure resources essential for its green economy transition, including technologies for electric vehicles and renewable energy.
Published: Jan 23 2026, 2 pmeznews.inThe Indian Biogas Association is urging the government to enhance project incentives in the upcoming Union Budget 2026, specifically by increasing Central Financial Assistance (CFA) to support the biogas sector. The industry is advocating for a rise in capital subsidies to ₹6 crore per 4.8 TPD of Compressed Biogas (CBG) production capacity, with an overall CFA cap of ₹25 crore for larger projects. Additionally, the Association is calling for the promotion of fermented organic manure (FOM) markets and organic farming practices to combat soil degradation, as India's Soil Organic Carbon levels have fallen below 0.4 percent. They propose reallocating a portion of the ₹2 lakh crore spent annually on chemical fertiliser subsidies towards FOM-linked incentives. Furthermore, the Association seeks a framework for carbon monetisation through a Green Certificate mechanism, which would facilitate the sale of carbon credits and bolster revenue for biogas producers while aiding the government's climate goals.
Published: Jan 23 2026, 1 pmeznews.inIndia and the European Union are poised to announce the conclusion of long-standing negotiations for a free trade agreement (FTA) on Tuesday, which aims to reduce tariffs on European cars and wine while expanding the market for Indian electronics, textiles, and chemicals. This announcement is anticipated to follow a meeting between Indian Prime Minister Narendra Modi and EU leaders during their summit in India from January 25 to 28. If ratified by the European Parliament, the FTA could significantly boost Indian exports, particularly textiles and jewellery, amidst rising trade tensions, including increased U.S. tariffs on Indian imports. The EU's Ursula von der Leyen indicated progress at the World Economic Forum, although challenges remain, particularly regarding India's reluctance to cut auto tariffs. The agreement, alongside recent pacts with other nations, reflects a broader strategy to navigate shifting global trade dynamics.
Published: Jan 23 2026, 1 pmeznews.inThe Airline Users Rights and Grievance Redressal Forum (AURGRF) has called on the Civil Aviation Minister to establish permanent domestic airfare caps to enhance passenger welfare and ensure market stability. Despite the deregulation of domestic airfares, temporary fare caps introduced by the Directorate General of Civil Aviation (DGCA) during the post-Covid recovery proved effective, but recent practices like dynamic pricing and unbundling of services have led to unpredictable fare structures. AURGRF officials highlighted the Ministry's successful intervention during Indigo flight disruptions, which prevented excessive fare hikes. With domestic passenger traffic expected to reach 40 crore by 2029, the Forum argues that affordable and transparent airfares are crucial for regional connectivity and tourism. They assert that regulated fare structures are beneficial for both the market and passengers, advocating for institutionalized fare caps to promote fair competition and long-term sustainability in India's civil aviation sector.
Published: Jan 23 2026, 12 pmeznews.inThe Indian government has approved significant pension and wage revisions for pensioners of the Reserve Bank of India (RBI), employees of Public Sector General Insurance Companies (PSGICs), and NABARD, impacting over 93,000 individuals. For RBI pensioners, pensions will increase by 10% from November 1, 2022, benefiting 30,769 retirees and their families, with a total financial implication of ₹2,696.82 crore. PSGIC employees will see a 12.41% wage hike effective August 1, 2022, alongside a uniform family pension rate of 30%, affecting 14,615 family pensioners, with an overall cost of ₹8,170.30 crore. NABARD employees will receive a 20% pay increase from November 1, 2022, impacting around 3,800 individuals, with pension adjustments costing ₹50.82 crore in arrears. These measures reflect the government's commitment to enhancing retirement benefits for senior citizens and their dependents.
Published: Jan 23 2026, 12 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact