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Sanjay Malhotra, Governor of the Reserve Bank of India (RBI), stated on Thursday that the central bank does not aim for a specific value of the Indian Rupee (INR), attributing its recent depreciation to increased demand for dollars. Speaking at the VKRV Rao Memorial Lecture in Delhi, he emphasized that the RBI possesses robust foreign exchange reserves, alleviating concerns over the rupee's decline. The INR fell by 23 paise to close at 88.71 against the US dollar, influenced by a strengthening dollar and reduced expectations of a US Federal Reserve rate cut. Malhotra expressed optimism about a forthcoming "good trade deal" with the US, which he believes could ease pressure on India's current account balance. He also highlighted the potential for Indian banks to rank among the world's top 100 lenders, reaffirming the RBI's commitment to financial stability and regulatory simplification. 
Published: Nov 20 2025, 6 pmeznews.inIndia's eight core industries experienced their weakest growth in 14 months, with October's performance reflecting a significant slowdown. The growth rate fell to 3.3% in October, down from 4% in September, as declines in coal, natural gas, and electricity generation offset gains in refinery products, fertilizers, steel, and cement. Notably, coal output and electricity generation contracted by 8.5% and 7.6%, respectively, largely due to excess rainfall impacting mining activities and power demand. Aditi Nayar, Chief Economist at ICRA, indicated that the slowdown in mining and electricity sectors could lead to a further easing of the Index of Industrial Production (IIP) growth to between 2.5% and 3.5% in October 2025. Despite these challenges, manufacturing growth is expected to remain robust, driven by increased demand during the festive season and GST rate adjustments.
Published: Nov 20 2025, 7 pmeznews.inIndia's crude oil imports from Russia are projected to remain robust at 1.8 to 1.9 million barrels per day (mb/d) until November 21, as refiners seek the most cost-effective options ahead of impending US sanctions. Following this date, a significant decline in imports is anticipated. Currently, Russian crude constitutes 35-38% of India's total imports, but this figure is expected to drop sharply, with substantial impacts likely by December 2025. While Nayara's Vadinar refinery may continue dealings with sanctioned Russian firms Rosneft and Lukoil, analysts suggest that a complete cessation of Russian oil is improbable, as crude itself is not sanctioned. In response to the sanctions, Indian refiners are diversifying their sources, increasing imports from the Middle East, the US, and West Africa, with US imports reaching a record 594,000 b/d. The evolving landscape indicates a shift towards alternative suppliers to mitigate potential losses from Russian crude.
Published: Nov 20 2025, 7 pmeznews.inData from the India Meteorological Department (IMD) indicates that 16% of India's 730 districts are experiencing deficient rainfall, coinciding with a pause in the North-East monsoon. Meanwhile, the Central Water Commission (CWC) reports that storage levels in 161 major reservoirs have fallen below 90% capacity, currently at 88.68%, although this is 6.5% higher than last year and 20% above the 10-year average. The situation is beneficial for rabi sowing, with crop acreage up 10% as of November 14. Notably, 27 reservoirs are full, with eight in Maharashtra and four in Rajasthan at capacity. The western region leads in storage, while the southern and central regions also report healthy levels. As rain is expected to resume, aided by a low-pressure system over the Bay of Bengal, reservoir levels may improve in the coming weeks.
Published: Nov 20 2025, 7 pmeznews.inIn a significant development for Indian seafarers, the Union Home Ministry has eliminated the long-standing requirements for sign-on, sign-off, and Shore Leave Passes (SLP) for Indian-flagged vessels operating solely in domestic waters. This decision, announced on Thursday, aims to alleviate operational challenges faced by crew members aboard coastal vessels, dredgers, barges, and research ships, who previously had to visit immigration offices every ten days to renew their SLPs, disrupting their duties. The Ministry has instructed the Ministry of Ports, Shipping and Waterways to ensure that Port Authorities maintain updated crew records, while the Bureau of Immigration will conduct periodic inspections. Union Ports, Shipping and Waterways Minister Sarbananda Sonowal praised the reform as a vital support for maritime workers, emphasizing the government's commitment to the welfare of India's seafarers under the leadership of Amit Shah.
Published: Nov 20 2025, 7 pmeznews.inRamesh Chand, Member Secretary of Niti Aayog, has urged private sector leaders to contribute suggestions for improving participation in foodgrain storage, addressing concerns raised by the PHD Chamber of Commerce and Industry regarding the need for comprehensive policy reforms. Speaking at a conference in New Delhi, Chand highlighted a committee led by former Cabinet Secretary Rajiv Gauba, established by Prime Minister Narendra Modi, to identify barriers to private investment in warehousing. A recent study projects a significant storage deficit of 69 million tonnes by 2030, with the warehousing market expected to grow from ₹37,336 crore in 2025-26 to ₹43,953 crore by 2030-31. Chand emphasized the importance of enhancing warehouse infrastructure and noted that while food losses are lower than perceived, there remains a substantial opportunity for investment. He also pointed out that regulatory reforms are crucial for attracting private investment in the sector.
Published: Nov 20 2025, 6 pmeznews.inFormer Railway Minister Suresh Prabhu has highlighted the potential for Indian Railways to generate substantial revenue through the monetisation of its vast non-classified data, suggesting it could yield "tens of thousands of crores." Speaking at the Railway Conclave 2.0 in New Delhi, Prabhu urged the national transporter to adopt a comprehensive, long-term strategy for reform, emphasizing the need for diversified income streams beyond traditional freight and passenger fares. He pointed out that the Railways' extensive datasets could unlock significant financial opportunities, particularly given the daily footfall of 8.5 million passengers. Prabhu also stressed the importance of capacity augmentation to facilitate private sector participation and advocated for a shift in management practices, including greater delegation of authority to enhance operational efficiency. He concluded that effective reform requires a clear diagnosis of issues and a structured approach to implementation, which he believes led to improvements during his tenure.
Published: Nov 20 2025, 5 pmeznews.inOil Marketing Companies (OMCs) in India are grappling with significant financial strain due to LPG under-recoveries, which currently amount to ₹53,700 crore, according to a report by Nuvama Research. The government is set to provide a subsidy of ₹300 billion in 12 tranches, starting November 2025, but this will only cover about 56% of the cumulative losses, which are projected to reach approximately ₹537 billion by the end of September 2025. The report warns that under-recoveries may increase further, particularly during the winter months when LPG prices typically rise. Additionally, OMCs are expected to face elevated capital expenditure due to long-term infrastructure projects, impacting their return ratios. The report also expresses caution regarding ONGC's production targets and GAIL's performance amid weak demand and volatile marketing earnings, highlighting ongoing challenges in the oil and gas sector.
Published: Nov 20 2025, 5 pmeznews.inA national workshop on "Traceable Trade – From Source to Shipment," co-hosted by Kerala Agricultural University (KAU) and the Agricultural and Processed Food Products Export Development Authority (APEDA), highlighted the critical role of digital traceability in enhancing India's agri-food supply chains for global markets. Inaugurated by A. Manickavasagan from the University of Guelph, the event showcased emerging technologies like blockchain and AI, emphasizing their necessity for market access focused on safety and sustainability. Speakers, including Mani Chellappan and Man Prakash Vijay, discussed how digital traceability empowers farmers and strengthens compliance across export commodities. The workshop featured insights from farmer representatives and startup founders, illustrating how digital tools improve transparency and buyer confidence. Technical sessions explored advancements in traceability platforms, while a drone demonstration showcased innovative monitoring solutions. The initiative aims to equip stakeholders with the knowledge and tools needed for a competitive, technology-driven food supply chain.
Published: Nov 20 2025, 5 pmeznews.inMaharashtra's sugarcane crushing season for 2025-26 is gaining momentum, with 147 mills processing 117.27 lakh tonnes of cane as of November 19, according to the state sugar commissioner. The Kolhapur division leads the state, with 30 factories crushing 29.61 lakh tonnes and producing 25.32 lakh quintals of sugar, achieving a recovery rate of 8.55%. Following Kolhapur, the Pune division has 23 mills crushing 27.57 lakh tonnes and producing 21.94 lakh quintals, with a recovery of 7.96%. Solapur and Ahilyanagar divisions report lower outputs and recovery rates. Overall, the state has produced 8.68 lakh tonnes of sugar, with a recovery rate of 7.4%. The current season is progressing faster than last year, when only 91 mills were operational. Additionally, the industry is advocating for a revision of the minimum selling price of sugar, which has remained at ₹31 per kg since February 2019, to help offset rising production costs.
Published: Nov 20 2025, 5 pm
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