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Kashmir's renowned cricket bat industry is in crisis due to a dramatic decline in willow production, the essential raw material for bat-making. The region, which is the sole source of suitable willow in India, hosts around 400 to 450 manufacturing units, primarily in Anantnag district, generating ₹700 crore and producing approximately 1.5 million bats annually. However, industry representatives report a staggering 75% drop in willow production over recent decades, as farmers increasingly abandon willow for faster-maturing poplar trees, which yield quicker financial returns. This shift has left manufacturers struggling to source quality wood, leading to increased costs and layoffs, particularly affecting smaller workshops. Despite the international acclaim of Kashmir bats, used by at least 37 professional cricketers, the industry's future hangs in the balance. Experts urge government intervention to incentivize willow cultivation, warning that without action, this traditional industry may soon disappear. 
Published: Jan 16 2026, 1 pmeznews.inIndia's start-up ecosystem has achieved a significant milestone, marking ten years since the launch of the Startup India initiative, with over 50 new start-ups being recognised daily. Union Minister of Commerce and Industry, Piyush Goyal, celebrated this achievement on social media, highlighting that the initiative has led to the recognition of over 200,000 start-ups, generating more than 2.1 million jobs. Goyal noted that India is now the third-largest start-up ecosystem globally, bolstered by ₹15 lakh crore in funding, thanks to strategic reforms aimed at reducing bureaucratic obstacles and supporting entrepreneurs. The initiative, which began in 2016, has expanded beyond major cities, with 48% of start-ups emerging from Tier-II and Tier-III locations. Looking ahead, Goyal expressed optimism about enhanced global trade partnerships, which he believes will provide further opportunities for Indian start-ups to grow and succeed on the world stage.
Published: Jan 16 2026, 1 pmeznews.inThe Central Board of Indirect Taxes & Customs (CBIC) announced on Friday that export incentive schemes, including duty drawback, RoDTEP, and RoSCTL, will now apply to postal shipments, effective January 15, 2026. This move is expected to boost the competitiveness of MSME exporters, particularly from smaller towns and remote areas, and enhance postal exports. EY India Tax Partner Saurabh Agarwal noted that this reform removes compliance barriers for MSMEs, positioning post offices as gateways for global commerce and supporting India's inclusive growth. The finance ministry aims to create a level playing field for postal exporters and foster a conducive environment for cross-border e-commerce. To implement these benefits, the CBIC has amended the Postal Export (Electronic Declaration and Processing) Regulations, 2022, allowing exporters to claim incentives for goods shipped via postal routes. Additionally, measures to strengthen cross-border trade through postal and courier modes have been undertaken.
Published: Jan 16 2026, 1 pmeznews.inOn National Startup Day, Prime Minister Narendra Modi emphasized the transformative impact of government reforms on India's startup ecosystem, enabling ventures into sectors like space and defence, thereby contributing to the vision of Aatmanirbhar Bharat. In a social media post, Modi celebrated the occasion as a decade since the launch of the 'Startup India' initiative, highlighting startups as vital engines of change that address global challenges while generating employment. He expressed pride in the entrepreneurial spirit of youth who dare to innovate and take risks. Commerce and Industry Minister Piyush Goyal added that India's expanding trade partnerships would further enhance opportunities for startups to grow internationally. Currently, over 200,000 startups are recognized by the Department for Promotion of Investment and Internal Trade (DPIIT), collectively supporting more than 2.1 million jobs, and benefiting from various policy incentives, including tax breaks and streamlined compliance processes.
Published: Jan 16 2026, 1 pmeznews.inDanish shipping giant Maersk is set to revert its MECL services, which connect India and the Middle East to the US East Coast, back to the trans-Suez route after nearly two years of rerouting via the Cape of Good Hope due to security concerns in the Red Sea. The decision follows improved stability in the region, with the Cornelia Maersk departing Salalah, Oman, on January 26, marking the transition to the Westbound Trans-Suez route. The Maersk Detroit will also return to this route for Eastbound services starting February 3. This shift is expected to enhance transit times by a week, benefiting trade efficiency. While the safety of crew and cargo remains a top priority, Maersk has contingency plans ready should security conditions worsen, potentially necessitating a return to the Cape route. The move reflects a cautious optimism about the security landscape in the Red Sea and Suez corridor.
Published: Jan 16 2026, 12 pmeznews.inThe Bharat Electricity Summit 2026, scheduled for March 19-22 at Yashobhoomi in New Delhi, is set to be a landmark event in the power sector, attracting over 25,000 attendees, 1,000 delegates, and 300 speakers from India and around the world. Union Power Secretary Pankaj Agarwal highlighted India's significant investment potential of $500 billion (₹45 lakh crore) in electricity generation, transmission, and storage over the next seven years. The summit, themed "Electrifying Growth. Empowering Sustainability. Connecting Globally," aims to showcase India's leadership in the global energy transition while addressing key challenges and opportunities. Union Minister of Power Manohar Lal emphasized the need for new technologies and announced the forthcoming Electricity Amendment Bill 2026. The event will serve as a platform for global policymakers, industry leaders, and innovators to engage in discussions on sustainable energy systems and foster strategic partnerships.
Published: Jan 16 2026, 12 pmeznews.inUnion Minister of Youth Affairs and Sports, Dr. Mansukh Mandaviya, announced that India's unemployment rate stands at 2%, the lowest among G20 nations, citing the World Economic Forum's 'The Future of Jobs Report 2025'. Speaking at a Memorandum of Understanding (MoU) signing event in New Delhi, he emphasized the government's role in job creation across various sectors, facilitated by initiatives like the National Career Service (NCS) Portal, which boasts 52 lakh registered employers and 5.79 crore job seekers. The NCS now offers a comprehensive suite of employment services, with over 44 lakh active vacancies. Dr. Mandaviya highlighted the government's commitment to youth employment through a ₹2 lakh crore package, including the Pradhan Mantri Viksit Bharat Rozgar Yojana, aimed at creating 3.5 crore jobs. He also noted the importance of schemes like MUDRA and PM SVANidhi in fostering self-employment and entrepreneurship.
Published: Jan 16 2026, 12 pmeznews.inIndia's economic performance has surpassed expectations, particularly in the third quarter, according to the International Monetary Fund (IMF). Spokesperson Julie Kozack emphasized the country's pivotal role as a growth engine for the global economy during a media briefing. She noted that India's growth forecast for the fiscal year 2025-26 was initially estimated at 6.6%, driven by strong domestic consumption. However, the recent data suggests even stronger growth, prompting the IMF to consider an upward revision of its forecasts. Kozack confirmed that a revised growth number for India will be announced in the upcoming January update. She reiterated the IMF's positive assessment of India's economic fundamentals, highlighting its resilience amid global economic challenges. As one of the fastest-growing major economies, India continues to play a crucial role in supporting global expansion, with robust growth expected to persist.
Published: Jan 16 2026, 12 pmeznews.inThe Kerala Co-operative Milk Marketing Federation Limited, known as Milma, has partnered with the National Dairy Development Board (NDDB) to launch a food-testing laboratory in Kochi, set to be inaugurated by Union Minister George Kurian. The NDDB CALF (Centre for Analysis and Learning in Livestock and Food) Laboratory will adhere to high-quality standards and initially focus on testing dairy products for Kerala and neighboring states. C.N. Valsalan Pillai, Chairman of ERCMPU, highlighted that the facility is equipped for comprehensive quality and safety testing. Plans are in place to expand services to include testing for various food and agricultural products, such as spices and ready-to-eat foods. The laboratory, accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL), will also assist state authorities in addressing food safety risks, according to Rajesh Nair, Managing Director of NDDB CALF.
Published: Jan 16 2026, 11 ameznews.inCochin Shipyard Limited (CSL) has successfully delivered the MS Heinz, the inaugural vessel of the HS EcoFreighter series, to Germany's HS Schiffahrts UG (haftungsbeschränkt) & Co. KG. This delivery signifies a significant advancement in CSL's international shipbuilding footprint, showcasing its ability to construct sophisticated and versatile merchant vessels. The virtual signing ceremony involved S. Harikrishnan, CSL's Director of Operations, and Heinz Josef Schepers from HS Schiffahrts. Designed by Groot Ship Design in the Netherlands, the 7,000 DWT ice-class vessel is engineered to transport a variety of cargo, including project and heavy cargo, steel coils, and dangerous goods. Its innovative design features a raked stem and "Groot Cross-Bow" for improved speed and fuel efficiency, alongside a flexible cargo hold with movable panels. The vessel is powered by a medium-speed diesel engine, ensuring robust performance for global trading.
Published: Jan 16 2026, 11 am
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