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Natural rubber prices have surged, with RSS IV prices rising to ₹210 per kg from ₹185 at the start of January, marking a 13% increase. This upward trend is attributed to a supply shortage caused by halted tapping and heightened demand, particularly from the industrial sector. The positive outlook is bolstered by India's projected economic growth, encouraging growers to resume tapping. Concurrently, ISNR prices have climbed to ₹188 per kg, while latex and TSR prices have also seen increases. Internationally, rubber prices are similarly affected, with RSS 3 in Bangkok rising from ₹191.85 to ₹210.58 per kg. Contributing factors include adverse weather in Southeast Asia and a reported shortage of natural rubber in the domestic market, prompting farmers to hold onto their stock. However, with the onset of summer rains, there is hope for increased tapping and market supply in the near future. 
Published: Feb 12 2026, 7 pmeznews.inIndia is facing significant rainfall deficits, with the India Meteorological Department (IMD) reporting a 45% shortfall from January 1 to February 11, affecting 76% of the country's 727 districts. As a result, storage levels in the nation's 166 major reservoirs have fallen to 64% of capacity, totaling 118.14 billion cubic metres (BCM), although this is still over 10% higher than last year and 25% above the 10-year average. While four reservoirs are full and 28% exceed 80% capacity, 30 reservoirs are below 50%. The southern region is particularly affected, with storage at 56.63%, down from 57.21% last year, and Telangana's reservoirs below 45%. The IMD has forecasted no rain for the next two weeks, raising concerns that reservoir levels may decline further, particularly in regions like Assam, where storage is critically low at just 26%.
Published: Feb 12 2026, 8 pmeznews.inUnion Minister of Commerce and Industry Piyush Goyal announced that Indian textile exporters will enjoy the same zero reciprocal tariff benefits in the US market as their Bangladeshi counterparts, contingent on sourcing raw materials from the US. This decision has been welcomed by garment manufacturers concerned about competition following Bangladesh's recent duty-free deal with the US. However, Indian farmers have expressed apprehension over a potential influx of American cotton, fearing it could adversely affect local production. Goyal reassured that the sourcing requirement in the US-Bangladesh agreement would also apply to India, and emphasized that the US's limited cotton production would mitigate risks for Indian farmers. Trade expert Abhijit Das noted the stark contrast in cotton production between India and Bangladesh, while farmers' leaders called for greater transparency in negotiations, warning that the deal could jeopardize their livelihoods. The US currently imposes reciprocal tariffs of 18% on Indian goods, compared to 19% on Bangladeshi products.
Published: Feb 12 2026, 8 pmeznews.inThe Ministry of External Affairs (MEA) clarified on Thursday that recent amendments to a US fact sheet regarding the India-US interim trade framework now align with the mutual understanding established in their original joint statement from February 7. MEA Spokesperson Randhir Jaiswal highlighted that this joint statement serves as the definitive basis for their agreement, following a diplomatic recalibration after the US issued a fact sheet on February 9 that appeared to exceed the agreed terms. The White House later revised the document, removing references to Indian imports of pulses, softening the language on digital trade commitments, and altering the definitive "will" to "intended" concerning India's $500-billion import obligation. Jaiswal reaffirmed that both nations will work towards implementing the framework and finalising the interim agreement, with the amendments reflecting their shared understandings.
Published: Feb 12 2026, 8 pmeznews.inFinance Minister Nirmala Sitharaman defended the Indian government's Budget in a robust address to the Lok Sabha, countering accusations from the Congress party regarding rising national debt. She criticized the opposition for demanding increased borrowing while lamenting the debt situation, asserting that the government adheres to a principle of not borrowing excessively. Sitharaman emphasized that there has been no reduction in funds allocated to states, particularly addressing concerns from West Bengal and Tamil Nadu, which are approaching elections. She dismissed claims of neglect, highlighting significant allocations under the Purvodaya strategy aimed at enhancing eastern India. Furthermore, she pointed to a substantial increase in the taxpayer base as evidence of middle-class expansion, while also touting record-low inflation and improved efficiency in direct benefit transfers. Sitharaman concluded by asserting that India's economy is experiencing a rare phase of macroeconomic stability, despite opposition skepticism.
Published: Feb 12 2026, 8 pmeznews.inIndia's mustard production for the 2024-25 season has declined to 12.67 million tonnes, down from 13.26 million tonnes, primarily due to reduced acreage. Experts suggest that expanding cultivation in non-traditional states like Chhattisgarh could significantly boost production, as the region currently has low yields and a substantial amount of rice fallow land. P K Rai, former Director of ICAR’s Indian Institute of Rapeseed-Mustard Research, highlighted the potential for transforming these fallows into productive farmland, which could enhance farm income and improve edible oil security. Currently, Chhattisgarh has only 31,000 hectares under rapeseed-mustard, yielding around 17,260 tonnes. Rai noted that mustard's adaptability, low water requirements, and short growth cycle make it ideal for cultivation in the region, particularly in the rabi season. Encouraging results from recent trials indicate that improved varieties could further increase productivity, offering a promising avenue for farmers.
Published: Feb 12 2026, 8 pmeznews.inArvind SmartSpaces Ltd is set to launch projects worth ₹9,500 crore across Gujarat, Maharashtra, and Karnataka over the next four to five years, with a significant portion expected to enter the market within 18 months. Gujarat leads with ₹5,077 crore in upcoming projects, followed by Karnataka at ₹2,899 crore and Maharashtra at ₹1,520 crore. However, the company has missed its launch targets for the current financial year, achieving only ₹500 crore of the anticipated ₹2,500 crore due to delays in approvals and phased rollouts. Managing Director Priyansh Kapoor noted that the residential market is stabilising after a period of rapid growth, with sales volumes remaining flat but realisations increasing. In the March quarter, Arvind plans to launch ₹1,500 crore worth of projects, including phases of developments in Vadodara and Ahmedabad, while navigating regulatory challenges in Bengaluru.
Published: Feb 12 2026, 6 pmeznews.inPrasanna Kumar D has been elected as the new President of the Institute of Chartered Accountants of India (ICAI) for the term 2026-27, succeeding Charanjot Singh Nanda. The election, held on Thursday, also saw Mangesh Pandurang Kinare appointed as Vice President. As the 74th President, Prasanna will oversee all Standing Committees, serve as an ex-officio member of Non-Standing Committees, and act as Editor-in-Chief of _The Chartered Accountant_ Journal. His extensive experience includes leadership roles in various ICAI committees and significant contributions to professional development and governance. Kinare, with over 33 years in the field, has previously chaired key committees and represented ICAI on national and international platforms. Both leaders are expected to enhance member engagement and institutional strengthening within the organization.
Published: Feb 12 2026, 6 pmeznews.inMauritius is intensifying its efforts to enhance air connectivity with India to boost tourism, as highlighted by Tourism Minister Christian Harold Richard Duval during a recent meeting with airline executives and travel agents at the OTM travel show in Mumbai. Duval emphasized that India is a key focus in Mauritius' tourism growth strategy, aiming to strengthen air corridors and collaborate closely with Indian partners to position the island as a preferred destination for leisure and business. Currently, Air India, Air Mauritius, and IndiGo operate flights between the two nations, with over 75,000 Indian visitors recorded last year, marking a 35% increase. The Mauritius Tourism Promotion Authority (MTPA) is also targeting tier-2 and tier-3 markets, expanding its MICE segment, and promoting wellness and golf tourism, while specifically aiming to attract Gen Z and first-time young Indian travelers.
Published: Feb 12 2026, 4 pmeznews.inThe Odisha State Appellate Authority for Advance Ruling (AAAR) has determined that companies providing Annual Maintenance Contract (AMC) services through service engineers do not establish a fixed business presence in the state, thus negating the need for separate GST registration. This ruling, which overturns a previous decision by the State Authority for Advance Ruling (AAR), is expected to ease compliance for corporations operating AMC services across multiple locations. The AAAR clarified that all transactions for the appellant were conducted from their head office in Maharashtra, with invoices issued from there, despite the presence of Field Service Engineers (FSEs) in Odisha. The ruling emphasizes that a fixed establishment must be linked to the supplier's registered location, and the appellant's operations in Odisha do not meet this criterion. Experts believe this decision will significantly reduce regulatory burdens for service providers in the region.
Published: Feb 12 2026, 4 pm
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