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A low-pressure area over interior Tamil Nadu has weakened but continues to pose a risk of heavy rainfall across several regions, according to the India Meteorological Department (IMD). While satellite imagery indicates a reduction in heavy rain over Tamil Nadu, the system is still expected to generate significant precipitation in coastal and South Interior Karnataka, as well as Coastal Andhra Pradesh, Yanam, and Rayalaseema. Light to moderate rainfall, with isolated heavy showers, is anticipated in Tamil Nadu today and tomorrow, with a fresh low-pressure system expected to develop over the south-west Bay of Bengal by Sunday. Additionally, heavy rain is forecast for South Interior Karnataka and Kerala for two days, and for Coastal Karnataka and Telangana over three days, with extended rainfall expected in other regions for up to a week. 
Published: Oct 23 2025, 1 pmeznews.inIndia's corporate revenue is projected to grow by 5-6% in the September quarter, according to a report from Crisil, despite a 0.60% contraction in operating profit margins compared to the previous year. The report highlights underperformance in key sectors such as power, coal, IT services, and steel, which collectively account for a third of total revenue. While revenue growth is expected to be one percentage point higher than the preceding quarter, challenges persist, particularly in the automobile and pharmaceuticals sectors, where companies struggled to pass on rising costs. The power sector's revenue growth is anticipated to be minimal at 1%, influenced by increased hydro-generation and renewable energy output. Conversely, the rural economy has seen a boost, with tractor revenue surging by 36% due to improved farmer sentiment. The cement and telecom sectors are also expected to report positive growth, with margins expanding in cement, steel, and telecom services.
Published: Oct 23 2025, 5 pmeznews.inCochin Shipyard Ltd (CSL) officially handed over the INS Mahe, the first of eight Anti-Submarine Warfare Shallow Water Crafts (ASW SWCs), to the Indian Navy on Thursday. The acceptance document was signed by S. Harikrishnan, CSL's Director of Operations, and Commander Amit Chandra Choubey, the vessel's Commanding Officer (Designate), in a ceremony attended by senior naval officials, including Rear Admiral R. Adhisrinivasan and Commodore Anup Menon. The 78-meter-long INS Mahe, the largest Indian naval warship powered by a diesel engine-waterjet combination, is designed for underwater surveillance, search and rescue, and low-intensity maritime operations. Its advanced capabilities will enhance the Navy's shallow water anti-submarine warfare operations. The delivery of INS Mahe marks a significant step in India's indigenous shipbuilding efforts, aligning with the government's "Aatma Nirbhar Bharat" initiative, boasting over 90% indigenous content.
Published: Oct 23 2025, 4 pmeznews.inThe Soyabean Processors Association of India (SOPA) has called on the government to prohibit imports of genetically modified (GM) soyabean meal from the US, warning that such imports could severely harm domestic agriculture and undermine the Atmanirbhar Bharat initiative. In a letter to Commerce Secretary Rajesh Agrawal, SOPA chairman Davish Jain highlighted that India has ample stocks of soyabean meal, estimating a total supply of 78.98 lakh tonnes for the 2025-26 marketing season, exceeding the domestic feed sector's consumption of 62 lakh tonnes. Jain cautioned that allowing imports would depress market prices, exacerbating the plight of farmers already facing low prices, and jeopardize the viability of the domestic processing industry. He emphasized India's reputation as a supplier of high-quality non-GMO soy products, urging the government to protect this status and support local farmers by ensuring a favorable market environment.
Published: Oct 23 2025, 4 pmeznews.inIn a recent tender for the supply of 1,050 crore litres of ethanol for the Ethanol Supply Year (ESY) 2025-26, oil marketing companies (OMCs) opted to purchase only 1,048 crore litres, despite distillers offering 1,776 crore litres. The Grain Ethanol Manufacturer’s Association (GEMA) has raised concerns that OMCs are favouring new entrants in deficit zones while neglecting established distilleries with surplus capacity, jeopardising their viability. GEMA claims that around 350 distilleries are receiving inadequate orders, despite having invested heavily based on previous government commitments. Experts suggest that the current procurement model, which prioritises local sourcing in deficit areas, overlooks the surplus capacity in neighbouring states and fails to consider prior agreements with existing distilleries. GEMA advocates for a more comprehensive procurement strategy that balances regional production capabilities and addresses the excess capacity issue, which has now surpassed 1,900 crore litres annually.
Published: Oct 23 2025, 4 pmeznews.inDeloitte India has projected the country's GDP growth for the current fiscal year to be between 6.7% and 6.9%, averaging 6.8%, aligning closely with the Reserve Bank of India's forecast of 6.8% for FY26. This optimistic outlook follows a robust 7.8% growth in the April-June quarter, driven by strong domestic demand, accommodative monetary policy, and structural reforms like GST 2.0. Deloitte's economist, Rumki Majumdar, noted that festive season consumption and private investment are expected to bolster growth, with potential trade agreements with the US and EU further enhancing investment sentiment. However, risks remain, including global trade uncertainties and persistent core inflation, which could limit the Reserve Bank's monetary flexibility. The report emphasizes the need for continued policy efforts to empower the MSME sector, crucial for employment and economic resilience.
Published: Oct 23 2025, 3 pmeznews.inThe Indian leather and allied products industry is projected to experience a revenue decline of 10-12% in the current fiscal year, following the imposition of steep 50% tariffs by the United States, according to a report by Crisil Ratings. The industry, which recorded revenues of approximately ₹56,000 crore in fiscal 2025, relies heavily on exports, with around 70% of its revenue generated from international sales, primarily to the European Union and the US. The tariffs, which include a 25% reciprocal tariff and an additional 25% penalty for purchasing Russian oil, are expected to significantly reduce export volumes, particularly affecting finished leather products that typically yield higher returns. Despite some improvement in domestic demand due to GST rationalisation and favourable macroeconomic conditions, the loss of US orders is anticipated to result in a 13-14% drop in export volume this fiscal year.
Published: Oct 23 2025, 3 pmeznews.inTea production in Assam, India's leading tea-producing state, is projected to be slightly higher in 2024, with an output of 627.95 million kgs, accounting for approximately 52% of the nation's total production of 1,203.65 million kgs. Bidyananda Barkakoty, Adviser of the North Eastern Tea Association, noted that while the first half of 2024 saw a significant crop, the second half is expected to yield results similar to last year. From January to August 2024, production rose by about 7% to 402.57 million kgs compared to 375.57 million kgs in the same period in 2023. Despite a record production of 111.52 million kgs in October 2024, Barkakoty anticipates a decline in production for 2025, projecting lower figures than the 688.33 million kgs produced in 2023. The Tea Board's directive led to an early closure of production in November 2024, but some output is expected in December this year.
Published: Oct 23 2025, 3 pmeznews.inTamil Nadu has experienced a robust start to the northeast monsoon, with the India Meteorological Department (IMD) reporting no districts facing deficient rainfall. From October 1 to 22, the state recorded a significant 82% surplus, receiving 197.7 mm of rain against a normal of 108.5 mm. Weekly analyses revealed a consistent increase in rainfall, with a 3% surplus in the first week, escalating to 34% in the second, and peaking at 82% in the third week. Notable rainfall was observed in districts such as Tirunelveli, which saw a 199% increase, and Ranipet, with a 203% surplus. In the 24 hours leading up to October 23, Ranipet received 13 cm of rain, while Chennai recorded up to 4 cm. Overall, the data indicates widespread and heavy rainfall across both coastal and interior regions, marking a strong monsoon season for the state.
Published: Oct 23 2025, 2 pmeznews.inMore than 350 operational distilleries in India are facing an uncertain future due to inadequate procurement orders from the latest ethanol tender, which has drawn criticism for favouring new entrants over established units. The Ethanol Supply Year (ESY) 2025-26 tender, issued by Oil Marketing Companies (OMCs), has been accused of creating artificial imbalances by classifying zones with insufficient local offers as deficit zones, while overlooking surplus capacities in neighbouring states. Industry representatives, including Grain Ethanol Manufacturers Association President C K Jain, argue that the current allocation mechanism is economically inefficient and environmentally counterproductive, as it neglects existing infrastructure and investments made under previous government commitments. Stakeholders warn that without equitable demand distribution, the long-term sustainability of India's ethanol ecosystem, crucial for energy security and supporting farmers, could be jeopardised, prompting calls for urgent policy intervention to optimise existing capacities before encouraging new investments.
Published: Oct 23 2025, 2 pm
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