eznews.inIn a significant shift reflecting India's complex historical narrative, Triveni Engineering & Industries Ltd is set to rename the Sir Shadi Lal sugar mill in Shamli, Uttar Pradesh, to simply the Shamli sugar mill. This decision, driven by the company's new majority ownership, aims to address the moral discomfort associated with the mill's namesake, Sir Shadi Lal, who presided over the trial that led to the execution of revolutionary martyr Bhagat Singh in 1931. Local residents and labor unions have long felt uneasy about the mill's name, which evokes painful memories of colonial injustice. Triveni's move to adopt a geographic identifier aligns with its practice of naming mills based on location, thereby avoiding historical baggage. The renaming follows Triveni's recent acquisition of a controlling stake in the mill's holding company, with the change expected to be finalized by the end of the current financial year. 
Published: Jan 07 2026, 5 pmeznews.inFrost conditions in the Nilgiris are significantly impacting tea arrivals at Coonoor auctions, leading to a 20% reduction in offered quantities, according to traders. This decline raises concerns about potential effects on tea production, compounded by internal issues in Iran, a key buyer of South Indian orthodox leaves, which may disrupt shipping schedules. Global Tea Auctioneers reported that 1,497,770 kg of leaf tea was offered, achieving an 86% sales rate, while 379,143 kg of dust grades also saw an 86% sales rate. In terms of pricing, high-priced teas and better liquoring varieties remained steady to slightly lower, with some medium sorts experiencing minor declines. Conversely, CTC dust grades saw fair demand, with high-priced teas selling for Rs4 to 5 more, although some lots dropped by Rs2 to 3. Orthodox dust grades faced a tougher market, selling lower by Rs8 to 10, reflecting quality variations.
Published: Jan 07 2026, 5 pmeznews.inIndia's economy is projected to grow by 7.4% in the fiscal year 2025-26, according to the Statistics Ministry. This marks an increase from the 6.5% growth rate recorded in FY24-25. The nominal GDP is expected to rise by 8%, driven largely by a robust services sector, which is anticipated to achieve a Real Gross Value Added (GVA) growth rate of 7.3%. Notably, financial, real estate, and public services are set to experience significant growth, estimated at 9.9% at constant prices. Other sectors, including trade, hotels, and transport, are projected to grow by 7.5%, while manufacturing and construction are expected to see a 7% increase. In contrast, agriculture and utility services are forecasted to grow at more modest rates of 3.1% and 2.1%, respectively. Real private final consumption expenditure is also expected to rise by 7% during this period.
Published: Jan 07 2026, 4 pmeznews.inIndiGo, which holds a commanding 65% share of India's aviation market, faced significant operational challenges last month due to pilot shortages, resulting in the cancellation of approximately 4,500 flights and leaving thousands of passengers stranded. In response to these unprecedented disruptions, the Indian government has requested fare data from IndiGo, Air India, SpiceJet, and Akasa to investigate potential fare surges during the crisis. The Competition Commission of India (CCI) is examining whether IndiGo abused its dominant market position by cancelling flights and subsequently raising ticket prices. The Directorate General of Civil Aviation has also sought information on average fares for economy and premium economy seats across various routes during the first half of December. While IndiGo has not publicly commented on the ongoing investigation, the CCI's scrutiny appears focused solely on the airline for now, with no indications of extending the inquiry to others.
Published: Jan 07 2026, 3 pmeznews.inMinimum temperatures in Ambikapur, Chhattisgarh, fell to 3.3°C, marking a significant drop as the India Meteorological Department (IMD) reported widespread cold wave conditions across north-west, central, and north-east India. Over the past 24 hours, severe cold days were noted in isolated areas of Rajasthan, while cold day conditions affected Uttar Pradesh, Gangetic West Bengal, Bihar, and Jharkhand. Ground frost was recorded in Uttarakhand, and snowfall occurred in parts of Jammu-Kashmir-Ladakh, Himachal Pradesh, and Sikkim. The IMD indicated that minimum temperatures were below 0°C in several regions, with appreciable departures from normal in areas like Vidarbha and Telangana. Additionally, dense fog reduced visibility in parts of Uttar Pradesh, Rajasthan, and Punjab. Meanwhile, a depression in the south-east Bay of Bengal is expected to bring heavy rainfall and thunderstorms to Tamil Nadu and Kerala from January 8-11.
Published: Jan 07 2026, 2 pmeznews.inIn a challenging economic landscape, the Indian stock market saw declines, with the SENSEX closing at 84,802.03, down 261.31 points, and the NIFTY at 26,102.90, down 75.80 points. Commodity prices also fell, with crude oil at ₹5,070.00, gold at ₹138,320.00, and silver at ₹255,726.00. Amid these fluctuations, A Sakthivel, newly re-elected Chairman of the Apparel Export Promotion Council, emphasized the urgent need for a resolution to the US tariff issue affecting Indian exporters. He highlighted efforts to diversify markets beyond the US, including recent FTAs with the UK, New Zealand, and Oman, and called for expedited negotiations on the India-US Bilateral Trade Agreement. Sakthivel aims to shift focus towards non-cotton exports and sustainability, particularly for Tiruppur's knitwear industry, while advocating for supportive measures in the upcoming Union Budget to enhance competitiveness and investment in the sector.
Published: Jan 07 2026, 1 pmeznews.inRamnath Thakur, the Minister of State for Agriculture, praised the Coconut Development Board's farmer-centric approach during a recent visit to Thrissur, where he reviewed initiatives aimed at enhancing coconut farmers' incomes. He emphasized the importance of strengthening the Board and increasing investment in the coconut sector, particularly to support women entrepreneurs like Sumila Jayaraj, who runs a processing unit producing Virgin Coconut Oil and other products. Thakur also addressed concerns over low-cost desiccated coconut imports affecting local processors and suggested regulating these imports to protect domestic interests. He highlighted the need for coconut oil to be included in the Public Distribution System to stabilize prices. The Minister noted ongoing multi-cropping initiatives that align with the government's goal of doubling farmers' incomes through productivity and crop diversification, with the Coconut Development Board implementing productivity improvement schemes across 27,000 hectares nationwide.
Published: Jan 07 2026, 12 pmeznews.inIndia's household gold stockpile, estimated at approximately 25,000 tonnes, has become a vital macroeconomic buffer, bolstering currency stability, financial resilience, and consumption amid global uncertainties, according to IIFL Capital's Outlook 2026. The market value of this gold now approaches 80% of India's GDP, a significant increase fueled by long-term accumulation and rising gold prices. The Reserve Bank of India (RBI) has also intensified gold purchases, further cushioning the impact of rupee depreciation and enhancing the country's external balance. Notably, only a small fraction of household gold is used as collateral, indicating substantial potential for growth in gold-backed lending, which can support credit expansion without increasing systemic risk. This gold cushion serves as latent capital, enabling households to manage spending during economic downturns, thereby stabilizing demand when income growth slows.
Published: Jan 07 2026, 1 ameznews.inThe Confederation of Indian Industry (CII) has urged the government to consider significant reforms in the agricultural sector ahead of the 2026-27 Budget, including the repeal of outdated agricultural land ceiling laws. CII argues that these laws, while historically beneficial for land redistribution, now hinder farmers' income growth by restricting land ownership and leasing opportunities. The industry body advocates for a shift from reliance on minimum support prices (MSP) to market-driven pricing to promote crop diversification and sustainability. It also calls for the revision of current policies that create market distortions, such as stock limits and export bans, to enhance competitiveness. Additionally, CII recommends establishing a National Grid for market intelligence and a unified "One India Food Grid" to streamline food supply across states. Emphasizing the need for private investment in innovation and research, CII highlights the importance of a robust agricultural ecosystem to ensure food security and global competitiveness.
Published: Jan 06 2026, 9 pmeznews.inUttar Pradesh Agriculture Minister Surya Pratap Shahi has proposed that the Fertiliser Ministry set a more accessible price for urea, suggesting a rate of ₹300 per bag during the recent Rabi conference. This recommendation comes amid ongoing discussions at a day-long introspection camp led by Fertiliser Minister J P Nadda, where key issues included the improper tagging of products with subsidised fertilisers and sales above the prescribed prices. Nadda emphasized the need for collaboration between officials and the industry to address these concerns. The camp also focused on various thematic areas, including freight subsidy policies, improving soil health, and enhancing the fertiliser distribution network. While some industry officials expressed skepticism about the government's commitment to reform, Nadda highlighted the importance of farmer-friendly policies, noting that the Department of Fertilizers has successfully met farmers' needs despite challenges.
Published: Jan 06 2026, 9 pm
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