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Tobacco Board Chairman Yashwanth Kumar Chidipothu has urged Union Finance Minister Nirmala Sitharaman and Commerce Minister Piyush Goyal to reconsider the steep duty rates imposed on tobacco products, which have surged by 60% following a December 31 notification. Chidipothu highlighted the detrimental effects of this tax hike on the tobacco industry, farmers, and workers reliant on this sector for their livelihoods. He warned that the increased excise duties could exacerbate the illicit cigarette trade, which poses a significant global challenge. Farmers have expressed concerns that past tax increases have led to substantial price declines, and with current input costs rising, they fear prices could drop by ₹60 to ₹70 per kg. Chidipothu emphasized that high taxes create incentives for smuggling, particularly in the face of weak enforcement and oversight, potentially leading to job losses and increased exposure to unregulated products. 
Published: Feb 10 2026, 8 pmeznews.inThe United States has signed a new trade agreement with Bangladesh, reducing reciprocal tariffs from 20% to 19%, which diminishes India's competitive edge in the American market. This deal particularly impacts Indian textile and garment exporters, as it allows Bangladeshi garments to enter the U.S. at zero duty, contingent on using U.S.-sourced cotton. Ashwin Chandran from the Confederation of Indian Textile Industry (CITI) highlighted that the tariff gap between India and Bangladesh has narrowed from 2% to 1%, posing a significant challenge for Indian exporters, who rely heavily on the U.S. market. Experts caution that India's perceived tariff advantage may quickly evaporate, as the U.S. has also reduced tariffs for other competitors like Indonesia and Vietnam. Abhijit Das, a trade expert, emphasized the need for India to reassess its reliance on tariff reductions in a rapidly changing trade landscape.
Published: Feb 10 2026, 9 pmeznews.inIn a significant enhancement for commuters, the National Payments Corporation of India (NPCI), in partnership with Maha Metro and HDFC Bank, has launched the acceptance of RuPay On-The-Go (OTG) cards across the Pune Metro network. This initiative allows passengers to use their existing RuPay OTG cards for seamless, contactless travel at all operational metro stations, thereby simplifying the fare payment process. Previously, Pune Metro offered paper tickets, mobile QR tickets, and HDFC Bank's One Pune NCMC RuPay cards. The introduction of open-loop RuPay OTG acceptance not only streamlines payment options but also supports interoperability with other public transport systems, including buses and additional metro networks. Furthermore, the cards feature offline payment capabilities, ensuring uninterrupted travel even in areas with limited connectivity. This move is designed to enhance commuter convenience and promote a unified digital ticketing experience.
Published: Feb 10 2026, 9 pmeznews.inThe Indian Dairy Association (IDA) defended the government's stance on the Indo-US trade agreement amid opposition criticism, asserting that India's dairy sector remains protected. IDA President Sudhir Kumar Singh emphasized that imports of dried distillers’ grains (DDGs) would be minimal, constituting just 1% of domestic needs. India, currently the world's largest milk producer, contributes 25% of global milk production, projected to rise to 45% by 2047, with total production estimated at 247.87 million tonnes for 2024-25. Singh highlighted the government's focus on enhancing milk production through advanced technologies like In-Vitro Fertilization and Sex Sorted Semen. The IDA is set to host its 52nd Dairy Industry Conference in New Delhi from February 12-14, expecting over 3,000 participants, including farmers and industry stakeholders, to explore business opportunities and innovations in the rapidly growing dairy sector.
Published: Feb 10 2026, 9 pmeznews.inThe tractor industry in India kicked off 2026 with impressive growth, reporting a 45% year-on-year increase in sales for January, driven by both domestic and export markets, according to the Tractor and Mechanization Association. Domestic sales surged by 28%, bolstered by a reduction in GST, favorable monsoon conditions, and the introduction of the Sub-Mission on Agricultural Mechanization (SMAM) subsidy in Maharashtra. Exports also saw a healthy 17% rise, fueled by strong demand from Africa and Latin America. Industry experts noted that improved rural liquidity and higher minimum support prices (MSP) contributed to this momentum, particularly in the 40-50 HP tractor segment. With ongoing government support and positive rural sentiment, stakeholders anticipate sustained growth in the coming months, as favorable conditions continue to enhance farm mechanization and agricultural productivity.
Published: Feb 10 2026, 9 pmeznews.inThe Indian Tea Board has announced that, starting May 1, 2026, all tea imports will be subject to mandatory quality testing to combat the influx of cheap, inferior tea that has been harming the domestic industry. This directive comes amid growing concerns from local planters, who argue that low-quality, duty-free imports, particularly from Nepal and African nations, are undermining prices and threatening their livelihoods. The Tea Board's new regulations require importers to provide detailed shipment information and pay an application fee for testing. Upon arrival, samples will be randomly collected for analysis. Industry representatives, such as Bijoy Gopal Chakraborty of the Confederation of Indian Small Tea Growers’ Associations, have welcomed the move, believing it will help restrict substandard teas from entering the market. The competition from cheaper Nepalese tea has notably impacted the demand for premium Darjeeling tea, which was the first Indian product to receive a Geographical Indication tag.
Published: Feb 10 2026, 9 pmeznews.inForeign direct investment (FDI) in India's banking sector has seen a significant decline, dropping to $115 million at the end of FY25 from $898 million in FY23, according to the Finance Ministry. Minister of State Pankaj Chaudhary emphasized the importance of FDI as a non-debt financial resource that supports economic development, technology transfer, and job creation. He noted that total FDI inflow encompasses various components, including equity inflow and re-invested earnings. Additionally, he highlighted that acquiring 5% or more of a bank's paid-up capital requires prior approval from the Reserve Bank of India (RBI). In related news, since the launch of the Pradhan Mantri Mudra Yojana, over 56.31 crore loan accounts have been disbursed, amounting to ₹37.31 lakh crore. Chaudhary also addressed investor complaints received by the Securities and Exchange Board of India (SEBI), which has taken action against unregistered investment advisory services, recovering ₹665.26 crore for affected investors.
Published: Feb 10 2026, 8 pmeznews.inSalil Gupte, President of Boeing India and South Asia, has highlighted the potential of a new India-US trade framework to significantly boost the aviation sector by reducing tariffs on aircraft components and enhancing supply chains. Following the interim trade agreement reached on January 7, which allows for improved access to the US market, Gupte emphasized that the removal of tariffs on certain aircraft parts could position India as a global aerospace hub. He described the agreement as a testament to the strengthening economic ties between the two nations, advocating for a zero-for-zero tariff approach to foster industrial growth and national security. Gupte also noted that recent domestic policy measures, including the exemption of basic customs duty on aircraft components, will lower maintenance costs and enhance the competitiveness of Indian maintenance, repair, and overhaul (MRO) providers. He underscored the long-term potential of India's civil aviation sector, driven by strong demand and infrastructure investment.
Published: Feb 10 2026, 6 pmeznews.inBharatiya Kisan Union leader Rakesh Tikait has warned that India's proposed trade deal with the US poses significant risks to Indian farmers, likening the situation to the economic liberalization of 1992. Speaking alongside MPs from the RJD and AAP, Tikait announced plans for a nationwide protest, urging farmers to symbolically burn copies of the joint statement on November 12, coinciding with a planned strike by trade unions. He criticized the government for failing to consult stakeholders and accused it of misleading farmers about the deal's implications, which he claims will allow subsidized US goods to flood the market, undermining local produce. AAP MP Sanjay Singh echoed these concerns, highlighting the disparity in tariffs—18% for Indian agricultural exports compared to zero for US imports. The opposition has united against the deal, with calls to review related legislation, including the controversial Seeds Bill, which critics argue will disadvantage farmers further.
Published: Feb 10 2026, 7 pmeznews.inThe Periodic Labour Force Survey (PLFS) released by the Statistics Ministry on Tuesday revealed a decline in the unemployment rate across both urban and rural areas for the October-December quarter of Fiscal Year 2025-26. The unemployment rate for individuals aged 15 and above in rural areas fell to 4% from 4.4%, while urban unemployment decreased to 6.7% from 6.9%. The survey, which sampled 5.61 lakh individuals, indicated an increase in employment, with the number of employed rising to 57.4 crore, attributed to a rise in formalisation and the number of registered companies. The self-employment rate in rural areas also increased to 63.2%. The report highlighted that the majority of rural workers remained in agriculture, while urban workers were predominantly engaged in the tertiary sector. Additionally, the Female Labour Force Participation Rate rose to 34.9%, and the Worker Population Ratio improved to 53.1%.
Published: Feb 10 2026, 7 pm
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