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The Indian government has extended the deadline for bids in its largest oil and gas acreage offering, the Open Acreage Licensing Policy (OALP) Bid Round X, to May 29, 2026, marking the fourth extension since its launch in February 2025. The Directorate General of Hydrocarbons (DGH) did not specify reasons for the delay, but industry insiders suggest it allows investors more time to adapt to new liberalised regulations following the Oilfields (Regulation and Development) Amendment Bill. OALP-X offers 25 blocks across 191,986 square kilometres, including six onshore and 12 ultra-deepwater blocks, with significant potential in the Andaman basin. The previous rounds have seen limited participation, with state-owned firms dominating. The government aims to enhance domestic oil and gas production to reduce its $220 billion import bill, following a shift to an open acreage policy in 2016 that allows explorers to identify areas for bidding. 
Published: Feb 06 2026, 1 pmeznews.inMonica Estates' super fine dust tea has achieved a record price of ₹315 per kg at the Kochi Tea auctions, marking the highest price ever for a dust grade in this venue, according to auctioneers Forbes, Ewart & Figgis. Produced by the Woodbriar group and purchased by Kalathingal Tea Stores in Kozhikode, this tea is particularly sought after in the Malabar region as Ramadan approaches, when tea is a staple for Iftaars. The auction saw strong demand, with a sales percentage of 97 for the offered CTC dust quantity of 5,50,295 kg. Anil George, president of the Tea Trade Association of Cochin, noted that the market remains bullish, with dust grades achieving near-total sales. The South Indian tea industry is experiencing a resurgence, bolstered by robust export demand for orthodox teas in markets such as the Middle East and Russia, alongside improving prices and limited seasonal crop volumes.
Published: Feb 06 2026, 12 pmeznews.inThe Reserve Bank of India (RBI) has revised its real GDP growth projections for the first two quarters of FY27, increasing estimates by 20 basis points to 6.9% and 7.0%, respectively, reflecting a positive growth outlook. However, CPI inflation estimates for the same periods have also been adjusted upwards, with projections rising by 10 and 20 basis points, respectively. For FY26, the inflation forecast is now set at 2.1%, up from 2%, with Q4 expected to reach 3.2%. RBI Governor Sanjay Malhotra attributed the inflation increase primarily to rising precious metal prices, which account for 60-70 basis points. Despite these adjustments, Malhotra noted that economic activity remains robust, driven by domestic factors, and the overall growth outlook is favourable, with inflation expectations remaining close to the target. The RBI's assessments suggest balanced risks in the current economic climate.
Published: Feb 06 2026, 11 ameznews.inIn a recent address to the Lok Sabha, Minister of State for Civil Aviation Murlidhar Mohol revealed that the Directorate General of Civil Aviation (DGCA) conducted a comprehensive series of safety audits and inspections throughout 2025. The regulator performed 3,890 surveillance inspections, 56 regulatory audits, and 84 checks on foreign aircraft, alongside 492 ramp checks to ensure adherence to safety standards. Mohol noted that 377 aircraft from a fleet of 754 operated by scheduled airlines were identified with recurring defects since January 2025. The DGCA also undertook 874 unplanned spot checks and 550 night surveillance checks to monitor operations. To address manpower shortages, the number of sanctioned technical posts has been increased from 637 to 1,063. Additionally, the DGCA has implemented an eGCA portal for real-time monitoring and enforcement. Mohol also mentioned that no scheduled domestic airline plans to operate flights to Singrauli Airport as per the Winter Schedule 2025.
Published: Feb 06 2026, 11 ameznews.inThe Reserve Bank of India (RBI) is set to announce its latest monetary policy decisions today, February 6, 2026, led by Governor Sanjay Malhotra and the Monetary Policy Committee (MPC). The key outcomes, including the repo rate and cash reserve ratio (CRR), will be revealed at 10:00 AM, followed by a press conference with Malhotra at noon. The current MPC comprises internal members, including Malhotra, Deputy Governor Poonam Gupta, and Executive Director Indranil Bhattacharyya, alongside external experts such as Ram Singh, Saugata Bhattacharya, and Nagesh Kumar. The announcements will be live-streamed on the RBI’s YouTube channel, providing real-time insights and analysis for stakeholders. This bi-monthly meeting is crucial for shaping India's economic landscape amid ongoing challenges.
Published: Feb 06 2026, 8 ameznews.inTin prices reached a record high of $56,800 per tonne on January 26 but have since dropped approximately 15%, currently trading at $48,526. Despite this decline, prices have surged 19% year-to-date, driven by strong demand from the semiconductor industry and ongoing supply issues in Indonesia and Myanmar. Research agency BMI has revised its 2026 average price forecast for tin to $45,000 per tonne, citing geopolitical tensions and a weaker US dollar as contributing factors. Analysts note a divergence in trading patterns between the Shanghai Futures Exchange and the London Metal Exchange, with speculators reducing positions. Supply uncertainties persist, particularly due to Indonesian mine closures and the slow resumption of operations in Myanmar's Wa province, which holds significant tin reserves. While demand remains relatively inelastic, consumers are hesitant to purchase at elevated prices, leading to a cautious market outlook.
Published: Feb 05 2026, 9 pmeznews.inThe Soybean Processors Association of India (SOPA) has urged the Union government to reject imports of genetically modified (GM) soybean meal, citing sufficient domestic supply and the potential harm to millions of farmers. In a representation to Commerce Minister Piyush Goyal, SOPA argued that the poultry sector's demand for GM imports, driven by high domestic prices, overlooks market realities and threatens the agricultural sector. Soybean prices have surged recently, with costs rising from ₹46,000 to ₹56,900 per tonne, while soymeal prices increased from ₹32,713 to ₹43,872 per tonne. SOPA emphasized that soybean meal prices are market-driven, with raw material costs constituting 96% of production expenses. The association projected a comfortable supply for the 2025-26 oil marketing year, warning that allowing imports could create dependency risks and exacerbate the trade deficit, ultimately undermining the livelihoods of farmers in a country where half the population relies on agriculture.
Published: Feb 05 2026, 10 pmeznews.inOla Electric's Chairman and Managing Director, Bhavish Aggarwal, announced on Thursday that the company has successfully implemented dry electrode battery manufacturing, with cells already powering electric scooters on Indian roads. This statement follows Tesla CEO Elon Musk's remarks on X, where he described the dry electrode process as a significant challenge in lithium battery production. Aggarwal countered that Ola's dry coating technology has been operational since last year, with numerous cells in use. The dry electrode method, which eliminates solvent-based slurries, is expected to reduce battery costs and emissions, enhance energy density, and streamline manufacturing processes. Ola's 4680-format lithium-ion cell, known as the 4680 Bharat Cell, is a product of this innovation, with full production commencing in early 2024. The company has also filed nearly 400 patents related to its cell technology, underscoring its commitment to advancing electric vehicle manufacturing.
Published: Feb 05 2026, 10 pmeznews.inThe Indian government has lifted the stock limit on wheat for traders, wholesalers, and large retailers, effective immediately, following a significant increase in wheat inventories, which are now over 3 million tonnes higher than last year. This decision comes as wheat prices have declined from ₹2,970.10 per quintal to ₹2,852.30, indicating a surplus in the market. The government had initially imposed stock caps on May 27, 2025, but now requires all wheat stocking entities to report their stock levels weekly on the food stock portal. Current data shows private entities hold approximately 8.1 million tonnes of wheat, reflecting a comfortable supply situation. Additionally, wheat acreage has risen to 334.17 lakh hectares this rabi season, driven by farmers' preference for the crop due to assured minimum support prices. The government is closely monitoring prices and stock levels to ensure adequate supply for public distribution and welfare schemes.
Published: Feb 05 2026, 9 pmeznews.inAgritech firm StarAgri has unveiled its new warehousing platform, Stocyard, aimed at the UAE market for non-agricultural commodities, including chemicals and steel. The company is also developing AgriFresh, a marketplace for fresh produce designed to streamline supply chain inefficiencies domestically. StarAgri operates over 2,200 warehouses with a capacity of 5.08 million metric tonnes, achieving a 73% utilization rate. In FY25, the company reported a consolidated revenue of ₹1,560.4 crore, marking a 55% increase, while net profit rose by 47% to ₹68.47 crore. CEO Amith Agarwal emphasized the company's commitment to providing affordable, collateral-based finance and professional storage to farmers, aiming to empower one crore farmers by FY30. StarAgri's asset-light, franchise-owned model supports rapid expansion while maintaining strong asset quality, with plans to target revenues exceeding ₹2,000 crore in FY26.
Published: Feb 05 2026, 9 pm
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