Trending Economy

Listen as Radio

Maharashtra sugar mills struggle as farmers shift to Karnataka

Sugar mills in western Maharashtra are facing challenges as the crushing season begins early in neighboring Karnataka, where the government has permitted mills to start operations ahead of schedule. This has led to a significant influx of sugarcane from Maharashtra's border districts, including Kolhapur and Sangli, into Karnataka's factories, raising concerns among local millers. Farmers are opting to send their harvest to Karnataka to maximize returns and prevent losses due to delayed harvesting, as emphasized by Karnataka Sugar Minister Shivanand Patil. In contrast, Maharashtra has set November 1 as the official start date for crushing, with the Sugar Directorate warning of strict penalties for early operations. Despite calls from millers for an earlier start, the directive remains unchanged. Meanwhile, farmer leader Raju Shetti has advised patience, suggesting that a future shortage could lead to better prices, while also advocating for higher payments to offset rising costs. sources

Published:
Oct 22 2025, 11 am

India updates renewable energy strategy to enhance capacity absorption

India's renewable energy sector is undergoing a strategic shift as the Ministry of New & Renewable Energy (MNRE) reports that Central Renewable Energy Implementing Agencies (REIAs) have submitted bids for 5.6 GW, while state agencies have contributed 3.5 MW in 2025. With the country's renewable capacity expanding from under 35 GW in 2014 to over 197 GW today, the focus is now on system reforms and capacity absorption rather than mere expansion. The MNRE emphasizes the need for grid integration, energy storage, and market reforms to support the ambitious goal of achieving 500 GW of non-fossil capacity by 2030. Despite global supply chain challenges, India continues to add 15-25 GW of renewable capacity annually. The policy landscape is evolving, with a shift towards tenders for renewable power with energy storage, aiming for a more resilient and integrated energy architecture that prioritizes quality and stability over sheer growth. sources

Published:
Oct 22 2025, 1 pm

Auto sector sees record $4.6 billion in transactions: Grant Thornton

India's automotive sector experienced a robust third quarter in 2025, with 30 transactions totaling $4.6 billion, marking its strongest performance in over a year, according to Grant Thornton Bharat's Automotive Dealtracker report. The surge in deal value was primarily driven by Tata Motors' significant $3.8 billion acquisition of Iveco S.P.A., one of the largest outbound automotive transactions in the country’s history. Excluding this deal, however, overall values fell by 36% from the previous quarter, indicating that major strategic moves are shaping the market. The report highlighted a strategic shift towards global expansion, electrification, and supply chain adjustments, with cross-border deals making up 71% of transaction volumes. Notably, private equity interest remained steady in tech-driven segments like electric mobility. As policy reforms and festive demand converge, experts predict continued momentum in alternative fuel technologies and auto-tech innovations. sources

Published:
Oct 22 2025, 1 pm

Global lessors oppose India's draft aviation payment rules

A coalition of global aircraft lessors has urged India to revise draft aviation regulations that complicate the repossession of planes from financially distressed airlines. The proposed rules mandate that lessors must first settle outstanding employee wages and government taxes before reclaiming aircraft, a requirement the Aviation Working Group (AWG) deems impractical and potentially detrimental to timely repossessions. With around 80% of commercial jets in India leased, the country is a vital market for lessors, especially as airlines like Air India and IndiGo expand their fleets. The AWG, which includes major players like AerCap and Boeing, has expressed concerns that these rules could deter investment in India's aviation sector. Discussions between AWG representatives and Indian officials are expected in the coming weeks as the government seeks to balance regulatory oversight with the need to attract foreign investment in aviation. sources

Published:
Oct 22 2025, 1 pm

Australia lifts Indian prawn import ban, aiding farmers

Australia has lifted its ban on unpeeled prawn imports from India, providing a much-needed opportunity for Indian prawn farmers facing significant losses due to high tariffs imposed by the United States. While the volumes of prawns imported by Australia are relatively low—38,000 tonnes in 2022—the move is seen as a strategic step for the Indian shrimp industry to diversify its export markets. Indian exporters will now compete with countries like Vietnam, Thailand, Indonesia, and China for this market. However, all shipments must undergo rigorous testing for white spot and yellow head diseases before and after arriving in Australia. Nara Lokesh, Andhra Pradesh's Minister for IT and Human Resources, announced the first import approval during his visit to Australia, emphasizing that this development will help reduce reliance on the US market and boost India's aquaculture exports. The ban had been in place since 2016 due to previous virus detections. sources

Published:
Oct 22 2025, 12 pm

Trump: Discussed trade with Modi; India won't buy Russian oil

During a Diwali celebration at the White House, U.S. President Donald Trump expressed gratitude to Indian Prime Minister Narendra Modi for his warm Diwali greetings during a recent phone call. The conversation primarily revolved around trade, with Trump highlighting ongoing negotiations for "great deals" between the two nations. He reiterated Modi's commitment to reducing India's crude oil purchases from Russia, a point that has drawn scrutiny from Indian officials and opposition leaders. Modi thanked Trump on social media, emphasizing the importance of the two democracies standing united against terrorism. Meanwhile, Congress leader Jairam Ramesh criticized Trump for repeatedly disclosing India's oil policy, suggesting that Modi's administration was not as forthcoming. The backdrop of these discussions includes recent U.S. tariffs on Indian goods, which India aims to reduce in ongoing trade talks. sources

Published:
Oct 22 2025, 11 am

Arabian Sea Low Surpasses Bay Twin, Strengthens into Depression

Heavy rainfall is expected in Tamil Nadu as a well-marked low-pressure area over the southeast Arabian Sea interacts with a depression in the Bay of Bengal, according to the India Meteorological Department (IMD). The depression, located approximately 630 km west-southwest of Aminidivi and 1,020 km southwest of Panjim, is projected to move slowly north-northwestward. Global models suggest that the system may remain over warm waters, potentially leading to further intensification. However, the US Joint Typhoon Warning Centre notes that the system is poorly organized, facing challenges from moderate to high easterly wind shear. While the proximity to the Tamil Nadu and Sri Lanka coasts may slow its development, the IMD indicates a possibility of intensification into a depression over the southwest Bay, with impacts expected across north Tamil Nadu, Puducherry, and southern Andhra Pradesh by Thursday morning. sources

Published:
Oct 22 2025, 10 am

Chennai Rains: Orange and Yellow Alerts for Tamil Nadu

Chennai is currently grappling with heavy rainfall, prompting Tamil Nadu Chief Minister MK Stalin to convene a meeting with officials to address the situation. The Regional Meteorological Centre has issued orange and yellow alerts for several coastal districts, including Chennai, Tiruvallur, Kanchipuram, and Chengalpattu, as weather systems from the Bay of Bengal and Arabian Sea continue to bring moisture to the region. In response to the severe weather, all schools in Chennai and several other districts, including Cuddalore and Villupuram, have been closed. Additionally, intense sea turbulence has been reported at Marina Beach, with authorities advising fishermen and coastal residents to remain vigilant. Tamil Nadu Deputy Chief Minister Udhayanidhi Stalin has conducted inspections of flood-prevention measures, particularly around Narayanapuram Lake, which is overflowing, and has called for urgent actions to mitigate flooding risks in South Chennai. sources

Published:
Oct 22 2025, 8 am

Chennai Rains: Orange and Yellow Alerts Issued for State

Chennai is currently grappling with heavy rainfall, prompting Tamil Nadu Chief Minister MK Stalin to convene a meeting with officials to address the situation. The Regional Meteorological Centre (RMC) has issued orange and yellow alerts for several coastal districts, including Chennai, Tiruvallur, Kanchipuram, and Chengalpattu, as weather systems from the Bay of Bengal and Arabian Sea continue to bring moisture to the region. Deputy Chief Minister Udhayanidhi Stalin has been actively inspecting flood-prevention measures across the city, particularly at Narayanapuram Lake, which is overflowing. He emphasized the need for urgent and permanent solutions to mitigate flooding risks in South Chennai. Additionally, red alerts have been declared in eight districts as authorities prepare for potential impacts on crops and infrastructure due to the ongoing downpours. The situation remains dynamic, with further updates expected as the weather develops. sources

Published:
Oct 22 2025, 8 am

Diwali boosts auto and durables sales to record highs

The consumer durables sector has experienced a vibrant festival season, particularly during the Dhanteras-Diwali weekend, driven by premiumisation trends. The automotive industry reported significant sales growth, with Tata Motors achieving over 100,000 vehicle deliveries—a 33% increase year-on-year—led by strong demand for SUVs like the Nexon and Punch. Hyundai Motor India also noted a record start to the season, with over 11,000 dealer billings on the first day of Navratri and a 30% rise in retail sales. In the consumer durables market, companies like Haier reported over 50% growth, particularly in premium products such as large-screen TVs and washing machines, aided by GST rate cuts. Overall, Diwali sales reached a historic ₹6.05 lakh crore, marking a significant increase from last year's figures, with traditional markets and non-corporate retailers seeing a notable surge in demand. sources

Published:
Oct 21 2025, 10 pm

For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews

End of news stories. Come back in an hour!