eznews.inIndia and the European Union are set to unveil a landmark trade agreement on Tuesday, marking the culmination of extensive negotiations that began in 2007 and were revitalized in 2022. Together, India and the EU account for nearly one-fifth of global trade and 25% of the world's population, underscoring the significance of their partnership. European Commission President Ursula von der Leyen emphasized the strategic collaboration, stating it demonstrates a commitment to a rules-based international order. The EU is India's second-largest trading partner, with bilateral trade in goods exceeding €120 billion in 2024, while trade in services reached over €66 billion. The EU's foreign direct investment in India also stands at €132 billion, solidifying its position as the leading investor in the country. The upcoming summit will focus on adopting a comprehensive strategic agenda and advancing free trade negotiations, aimed at enhancing economic ties and mutual resilience. 
Published: Jan 27 2026, 8 ameznews.inStakeholders in India's bullion and jewellery sectors are urging the government to implement key policy measures in the upcoming Budget to enhance fairness, competitiveness, and sustainability. Prithviraj Kothari, President of the India Bullion and Jewellers’ Association, highlighted the need for equitable customs duty benefits under the Tariff Rate Quota framework, proposing an increase in the duty on gold dore bar imports to 1.65%. Additionally, he called for a reduction in the basic customs duty on gold from 6% to 4% and simplification of mining regulations to boost domestic production. Industry leaders, including Suvankar Sen of Senco Gold, emphasized the importance of regulated financing options and a review of the GST structure to stimulate consumer demand. They also advocated for rationalising import duties on diamonds and gemstones to enhance export competitiveness and support local manufacturing, while promoting ethical lab-grown diamonds as a potential growth area for India.
Published: Jan 27 2026, 9 ameznews.inAfter nearly two decades of negotiations, the India-EU Free Trade Agreement (FTA), heralded as the "mother of all trade deals," is poised for announcement at the India-EU Summit in New Delhi on Tuesday. Commerce Secretary Rajesh Agrawal confirmed that discussions have concluded, with a formal signing expected after legal reviews. EU leaders Ursula von der Leyen and Antonio Costa will join Prime Minister Narendra Modi for the summit. The FTA aims to enhance economic integration, benefiting Indian exporters of textiles, leather, and other labor-intensive goods, while EU exporters, particularly in the automotive and wine sectors, will gain improved market access. The agreement, which encompasses a population of 1.9 billion and over 20% of global GDP, is anticipated to take five to six months for legal scrubbing before its official signing, with hopes for implementation by early 2027. Additionally, a separate MoU will facilitate mobility for students and skilled workers.
Published: Jan 26 2026, 9 pmeznews.inAfter nearly two decades of negotiations, the India-EU Free Trade Agreement (FTA), heralded as the "mother of all trade deals," is poised for announcement at the India-EU Summit in New Delhi on Tuesday. Commerce Secretary Rajesh Agrawal confirmed that discussions have concluded, with the formal signing expected to follow legal reviews. EU leaders Ursula von der Leyen and Antonio Costa will join Prime Minister Narendra Modi for the summit. The FTA aims to enhance economic integration, benefiting Indian exporters of labour-intensive goods like textiles and leather, while providing EU exporters, particularly in protected sectors like automobiles, with improved market access. The agreement, which encompasses a population of 1.9 billion and over 20% of global GDP, is anticipated to be legally finalized within five to six months, with hopes for implementation by early 2027. Additionally, a separate MoU will facilitate mobility for students and skilled workers between India and the EU.
Published: Jan 26 2026, 9 pmeznews.inCalifornia is expected to rely heavily on imports from Asia, particularly jet fuel and gasoline, to compensate for reduced local refining capacity, as refinery maintenance on the US West Coast impacts supply. Indian refiners, notably Reliance Industries, are poised to benefit from this situation, with exports of refined petroleum products anticipated to remain stable in 2026. Kpler, a global data analytics provider, highlights that India's refinery expansions and increased utilization will enhance product availability, allowing for continued competitiveness in the export market. However, planned refinery maintenance in the US could temporarily disrupt export availability and increase volatility. Additionally, the European Union's recent sanctions may compel Indian refiners to seek alternative crude sources, further influencing export dynamics. Despite these challenges, strong global demand for refined products suggests that Indian exports will continue to find markets, even without European outlets.
Published: Jan 26 2026, 7 pmeznews.inMustard acreage in India has increased by 3.2% this year, reaching 89.36 lakh hectares, compared to 86.57 lakh hectares in 2024-25. Following a decline of over 4% last year, production is expected to rise by at least 10% in 2025-26, bolstered by favorable weather conditions. However, forecasts of rain and hailstorms in the north-west region pose a potential threat to crops. The government aims for a production target of 139 lakh tonnes, up from last year's 126.67 lakh tonnes. Notably, Uttar Pradesh has seen a remarkable increase in mustard acreage, nearly tripling since 2015-16, while areas in the north-east, particularly Jharkhand and Assam, have experienced declines due to adverse weather during the sowing period. Experts remain optimistic about overall production, citing good crop conditions and the absence of frost.
Published: Jan 26 2026, 8 pmeznews.inAs gold prices continue to soar, the Indian government is expected to significantly increase allocations to the Gold Reserve Fund in the revised estimates for FY26 and the budget estimates for FY27. This fund is crucial for covering redemption payouts under the Sovereign Gold Bond (SGB) scheme, which has seen a surge in redemptions, particularly from the 2017–18 series. Bonds issued at prices between ₹2,881 and ₹2,951 per unit are now being redeemed at rates ranging from ₹9,486 to ₹14,853. With the FY26 allocation previously set at ₹700 crore, a substantial revision is anticipated, especially following FY25's allocation of over ₹28,000 crore. Looking ahead, several tranches from the 2018–19 and 2021–22 series are also nearing redemption. The Reserve Bank of India bases redemption prices on gold's average closing rates, which currently exceed ₹16,000 per gram, indicating ongoing high costs for the government.
Published: Jan 26 2026, 8 pmeznews.inSaffron prices in Kashmir have surged nearly 100% this season, with 10 grams of GI-tagged saffron now selling for around ₹4,000. However, farmers are struggling to benefit from this price increase due to a dramatic decline in production, which has plummeted by approximately 75% over the past year, from nearly 15 tonnes to just one tonne. Abdul Majeed Wani, president of the All Jammu and Kashmir Saffron Growers’ Association, attributed this drop to changing climatic patterns, particularly prolonged dry spells that have hindered the growth of saffron corms. Official data reveals a long-term decline in saffron output in Jammu and Kashmir, with production falling from 8 tonnes in 2010-11 to 2.6 tonnes in 2023-24. Despite a slight recovery of 4% in the latest season, growers warn that without improved irrigation and climate-resilient practices, the saffron industry faces further challenges.
Published: Jan 26 2026, 7 pmeznews.inIn India, the electric motorcycle market remains underdeveloped, with only a handful of brands, including Matter, Revolt Motors, Ola Electric, and Oben Electric, currently manufacturing these vehicles. Industry leaders are calling for government incentives, as existing schemes like FAME-II and PM E-DRIVE have primarily focused on electric scooters and three-wheelers. Anjali Rattan, Chairperson of RattanIndia, emphasized the need for subsidies specifically for electric motorcycles, which represent a significant portion of the two-wheeler market dominated by internal combustion engine vehicles. Mohal Lalbhai, Founder of Matter, echoed this sentiment, advocating for research and development support to enhance the technology of electric motorcycles. As India aims for its 2030 electrification targets, stakeholders urge the upcoming Budget to introduce targeted incentives for electric motorcycles to foster growth in this crucial segment and support the transition to a self-reliant EV ecosystem.
Published: Jan 26 2026, 7 pmeznews.inChilli production in India is projected to decline significantly this year, with estimates at approximately 5.39 lakh tonnes, down from 6.62 lakh tonnes last year. This reduction is attributed to a decrease in cultivation area, which has shrunk from 1.25 lakh acres five years ago to just 30,000 acres, alongside pest issues such as thrips attacks and wilt. Consequently, prices have surged in the Warangal and Khammam agricultural markets, peaking at ₹22,000 per quintal before stabilizing between ₹15,000 and ₹18,500, marking the highest levels in three years. Market analysts from Prof. Jayashankar Telangana Agricultural University have noted mixed sentiments due to quality concerns from excess moisture affecting early crop arrivals. Despite these challenges, some officials remain optimistic about demand, with expectations of a gradual recovery in prices, projected to range between ₹13,500 and ₹15,500 per quintal in January 2026.
Published: Jan 26 2026, 7 pm
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